Fullerton India Business Loan Interest Rates

Fullerton India Business Loan is a financial instrument which provides business funding to overcome any need of working capital or financial constraint. Fullerton India Business Loan Interest Rate for SMEs starts from 13%* which is very attractive. If you have high eligibility, then your Fullerton India Business Loan Interest Rates will be low. So, for lower Fullerton India Business Loan Interest Rates, you need to maintain a CIBIL score of 750 or above and must have a stable business of at least 3 years. But if you have low eligibility, then your Fullerton India Business Loan Rate of Interest will be high. And as you know, higher Fullerton India Business Loan Interest Rates means you need to pay a higher interest amount which is an extra burden for you.

Factors that affects Fullerton India Business Loan Interest Rates

It is a great idea to check your Fullerton Business Loan Rate of Interest using Fullerton India Business Loan Interest Rates Calculator based on your eligibility. In order to secure lower Fullerton India Business Loan Interest Rates, you need to maintain a good credit history and also by maintaining a stable business with good growth in sales.

Here are some of the important factors that affect Fullerton Business Loan Rate of Interest-

• Age

  Fullerton India Business Loan Interest Rates gets highly affected by the applicant’s age. The age limitation lies from 27 to 65 years. Fullerton Business Loan Rate of Interest will be low for any young applicant as he/she has high repaying capacity. Also they are offered with many offers. But Fullerton Business Loan Rate of Interest for any older applicant will be high as he/she has very low repaying capacity.

• Business Stability

  Fullerton India Business Loan Interest Rates gets hugely affected by your business stability. For a lower Fullerton Business Loan Rate of Interest, you are required to have a stable business that has a track record of 3 years which shows growth in sales. Also, if the business yields profit for the last 2 years alongwith with a minimum annual turnover of Rs. 20 lakhs, then it will lower your Fullerton India Business Loan Interest Rates.

• CIBIL Score

  The CIBIL score showing your credit history is an important factor in deciding your Fullerton India Business Loan Interest Rates. If the CIBIL score is less than 750 then your Fullerton India Business Loan Interest Rates will be high. But if the CIBIL score is 750 or above, then it will lower down your Fullerton India Business Loan Interest Rates. So, for a lower Fullerton India Business Loan Interest Rates, it is advisable to repay your loans or debts in the specified time period that will increase your CIBIL score.

• Existing Debt

  Fullerton India Business Loan Interest Rates will be high if you have any existing liabilities like EMIs or credit card dues as it reduces your repaying capability. Also, if your existing debts consumes a maximum 40% of your monthly income, then your Fullerton Business Loan Rate of Interest will be higher. Moreover you can go for balance transfer and top-up loan that will lower your Fullerton India Business Loan Interest Rates. So, you need to pay off your financial obligations which will decrease your Fullerton India Business Loan Interest Rates.

• ITR

  Another crucial factor that affects Fullerton India Business Loan Interest Rates is your ITR details. You are required to produce ITR copy of past 36 months and also updated bank statement of past 6 months that will reduce your Fullerton India Business Loan Interest Rate.

• Geographical Location

  Fullerton India Business Loan Interest Rates also gets affected by your geographical location. Rural area based geographical location increases your Fullerton India Business Loan Interest Rates. Whereas, metro city based geographical location will lower your Fullerton India Business Loan Interest Rates. Also, red marked area based location as pointed by financial institutions also increases your Fullerton India Business Loan Interest Rates.

• Housing Situation

  The housing situation of your stay is also another important factor that affects Fullerton India Business Loan Interest Rates Calculator. Staying in any rented house will lower your repaying capacity and increase your Fullerton India Business Loan Interest Rates. Whereas staying in your own house will increase your repaying capacity and will lower your Fullerton India Business Loan Interest Rates. Also, you need to know that owning your own workplace will also lower your Fullerton India Business Loan Interest Rates.