Fullerton India Review: Things To Know Before Taking A Loan!
Nowadays, if you are in need of money, whether it’s for personal uses or for your business, getting it instantly is a major convenience. Therefore, many new loan institutions are cropping up globally. One such company from India that I am going to discuss is Fullerton India Ltd.
To learn more about this Kolkata-based company, read this post till the end!
Fullerton India: Company Overview
Fullerton India credit company Ltd is a new finance company originating from Kolkata, India. With its headquarters in Park Street, they have managed to gain a lot of traction lately by providing instant loans to people and businesses.
One of the primary reasons they have become popular is because of how easy it is to get approved loans from Fullerton. Plus, their loan application processes are easy – you can do them entirely online if you wish to! In addition, you don’t need a Fullerton India credit company limited account!
Fullerton is similar to other Indian financial institutions like Navi, PayMe India, and LoanTap.
Fullerton India Personal Loans
Fullerton India is widely renowned for providing personal loans to account holders at lower-than-average interest rates. As long as you are eligible for Fullerton India personal loans and you are a salaried employee, you will get such loans quickly.
All the procedures of this company are completely transparent to ensure that there are no hidden charges or secret terms and conditions in place. In addition, most of the Fullerton loan payment solutions can be customized by you to an extent.
| Maximum Loan Amount | Upto INR 25,00,000 |
| Repayment Tenure | Minimum 12 months, maximum 60 months |
| Interest Rate | Starting from 17% |
| Processing Fees | Upto 6% of the total loan amount |
| Prepayment Charges | Upto 7% of the total loan amount |
Why Should You Apply For Fullerton India Personal Loan?
Some of the benefits of applying for a Fullerton India personal loan are:
- The application process for this loan is 100% digital – no paperwork is required.
These personal loans are free of any collateral. - Repayment tenures for these personal loans are flexible.
- Since these are personal loans, the reasons for applying for this loan can be anything.
Required Documents
To apply for this loan, you need the following documents:
- A filled application form that is also digitally signed.
- Identity proof (should contain proof of your address, age, and citizenship)
- Salary Pay Slips for the last three months
- Bank statement for the last six months
- Form 16 Income Tax Returns report
- Other necessary financial statements and Proof of income (if you are self-employed)
Personal Loan Eligibility Criteria
You will be eligible for Fullerton India personal loans by meeting these requirements:
| Age | Minimum 21, maximum 60 |
| Employment Status | Must be salaried or self-employed |
| Minimum Income | Minimum salary INR 25,000 |
| Credit Score | 750+ CIBIL score with a good credit history |
| Nationality | Indian |
| Work Experience | Minimum 1 year of work experience |
Fullerton India Business Loans
If you are an entrepreneur and you are in need of funds to expand your business, then contact Fullerton India. They have business loans for all types of businesses, both big and small.
Not only will these loans help you manage your business capital necessities, but they will also help you manage your capital needs for other purposes. This includes inventory purchases, workspace expansion, marketing, and any other additional payments.
| Maximum Loan Amount | Upto INR 50,00,000 |
| Repayment Tenure | Minimum 12 months, maximum 60 months |
| Interest Rate | Starting from 11.99% |
| Processing Fees | N/A |
| Prepayment Charges | N/A |
Why Should You Apply For Fullerton India Business Loan?
The primary benefits of applying for loans from Fullerton India home finance company limited are:
- All the loan facilities provided by the company are flexible since you have a loan repayment tenure of upto 48 months.
- Such business loans of upto INR 50 lakhs will be provided to you quickly within 24 hours after you apply.
- There are no collaterals for Fullerton business loans.
- You can access your loan account online pretty easily.
Required Documents
To apply for this loan, you will need these documents:
- A recently clicked photograph of you.
- Identity proof, like your PAN card.
- Address proof like your passport.
- Necessary bank statements
- Income Tax Report (ITR) files or GST Reports
- Income proof
- Business existence proof (like your business’s Certificate of Existence)
Business Loan Eligibility Criteria
You and your business will be eligible for these loans if you meet these requirements:
| Age | Minimum 25, maximum 65 |
| Business Status | Sole proprietorship or partnership |
| Minimum Turnover | Minimum INR 10,00,000 per annum, with INR 2,00,000 profit |
| Credit Score | 750+ CIBIL score with a good credit history |
| Nationality | Indian |
| Business Experience | Minimum 3 years of business life with profits in the last two years |
Other Types Of Fullerton India Loans
Apart from the two loans described above, which are the specialty of Fullerton India, they also provide other customizable loans like:
- Loan Against Property: If you have an immediate expense to clear out as soon as possible, then you can get a loan against your property as collateral instantly!
- Two-Wheeler Loans: These are short-term loans for purchasing your first two-wheeler!
- Home Loans: If you wish to purchase that dream house you have been eyeing for some time, you can apply for this loan!
- Commercial Vehicle Loans: If your business needs a commercial vehicle like trucks and other vehicles, you can apply for this loan!
How To Apply For Fullerton India Loans?
If you wish to apply for a Fullerton India loan, you have to follow a simple process, which I have described below:
- First, go to the Fullerton India official website.
- Here, click on the Apply Now button at the top of the page.
- Now, out of all the loan options, select the type of loan you wish to apply for.
- Depending on the type of loan you have chosen to apply for, an application form will open on your screen. Fill it up with all the required details.
- After you have filled up the application form, click on Next.
- An OTP will be sent to your registered email ID and phone number. Confirm them by following the on-screen procedures.
- Now, you must upload scanned copies of the necessary paper documents.
- After you are done uploading scanned copies, click on Submit.
After you hit the final Submit button, Fullerton India will get back to you if your loan is approved in the next 24 hours.
Conclusion
Fullerton India provides loans to people who are in dire need of them. All you need to do is meet their eligibility criteria and apply for their loans online! Plus, they provide many loans like personal loans, business loans, loans against property, two-wheeler loans, commercial vehicle loans, and home loans to apply for!
If you have any queries, please comment below!
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So work out the best plans that can have a considerable impact on your business. Fortunately, the stock prices are those kinds of currency that can be traded in the market as and when required. So work out the best plans that will have a considerable impact on your business whenever any business uses IPO. What Are The Upcoming IPO In The USA? It is the best time to invest your money in this upcoming IPO in the USA to get better returns from your investment at the end of 2021. Company Name Proposed Symbol Exchange Price Range Shares Week off Austin Gold Aust NYSE American $4.0-$6.0300000015-11-2021Braze Brze Nasdaq $55-$60800000015-11-2021Iris Energy IREN Nasdaq $25-$27826923115-11-2021KinderCare Learning Company KLC NYSE $18-$2125,775,43415-11-2021Sono Group SEVNASDAQ$14-$1610,000,00015-11-2021Sweet Green SG NYSE $23-$2512,500,00015-11-2021 What Are The Upcoming IPO In India? A country with 130 crores of the population comprised of billions of shareholders will provide you with the best investment opportunity in 2021. Some of the essential Upcoming IPO In India are as follows:- Company Name Category Of Business IPO Size IPO Month Emcure Pharmaceuticals Pharmaceuticals Rs 4500 Crores Nov 2021Skanray Technologies Pharmaceuticals Rs 400 Crores+OFS Nov 2021 One 97-Communication (Paytm)Digital Plays Rs 18300 Crores Nov 2021PB Fintech Policy Bazaar Digital Plays Rs 5625 Crores Nov 2021Mobikwik Digital Plays Rs 1900 Crores Nov 2021Ixigo Digital Plays Rs 1600 Crores Nov 2021 All the names of the companies mentioned above will soon open up their IPO. You must stay tuned with my next article to get the complete details on it. Steps To Follow While Buying IPO In The USA There are specific simple steps you have to follow while making your investments in IPO in the USA. First, you need to know the ways before you make your investments in the IPO. Second, do not forget to follow the steps properly before making your investments. Even a tiny mistake can prove to be harmful in stock market investments. 1. Create An Online Account With The Broker Who Offers IPO Access In America, Brokers like TD Ameritrade and Robinhood offer IPO trading opportunities. You need to create an account there to start your trading business in IPO. You can create an account with them or with similar brokers to get started with your IPO trading. 2. Meet The Eligibility Requirements Only having an account is not enough for your IPO trading business. There are specific eligibility criteria you need to meet while you want to start your trading in IPO. The eligibility criteria for creating an account vary from one broker to another. The broker can hold some of your assets with them to provide you the trading opportunities in the world market. Therefore, you must have a certain amount of assets with you to become an active trader. For example, if you want to get a membership in TD Ameritrade to become a trader, then you must have $250000 in your account to start your trading. In addition, you need to have a record of trading for the past 30 times in the previous three months. 3. Request Shares Once you meet the eligibility requirements, you have to request the shares from the brokers. It is guaranteed that you will get the required shares because you ask them. Brokers will get the necessary shares, and the chances are that you do not receive any of the claims. You can place an order or any kind of conditional offer to buy. It will become an action unless the IPO is priced. You will have the chance to change the required order once the prices have been set the time when the window closes. You can’t buy new shares unless you make the price hike as per the indication of your order. 4. Place an Order Whenever you go for a trade order, you can have a conditional offer for buying the shares. You will get the chance to confirm the change once the order’s pricing has been set before the windows close. You can buy more shares as you will be requested to buy more shares unless you pay the higher prices indicated in your order. Work out the plans that can help you deliver the higher prices as indicated in your order. Steps To Follow While Buying The IPO In India There are several steps you have to follow while you want to buy the IPO in India. Don’t miss any of the steps, as each step is crucial for your trading business and its future prosperity. 1. Read The Red Herring Prospectus A company that wants to sell their IPO’s in the market has to draft and file the Red Herring Prospectus to SEBI. This process a company has to follow while selling the company’s shares to the investors. DRHP ( Draft Red Herring Prospectus) this document elaborates where and how the company will use the money. Before investing in it, an investor must go through it. 2. Make Appropriate Utilization Of Proceeds You must become a cautious investor in IPO as you must understand where your IPO proceeds will be used. For example, if the company provides the declaration to repay the debts, it is not a reasonable choice to consider. But, on the other hand, if the company raises funds to partly pay the debt and use the rest amount in the expansion of business, it can be a reasonable choice for you to make investments in IPO. 3. Understand The Business Without understanding the nature of business, if you invest your money in the IPO of any company, it can be a significant setback for you. The capital stock of a company and its share values depend on its current demand and profit earning capacity. You have to understand these facts before investing your money in IPO. In addition, the market capture capacity of a company is also a crucial fact here. 4. Management Team And Promoter Background A cunning investor must go through some of the crucial factors while investing their money in the IPO of any company. Some of these core factors are as follows:- It is essential to know the strength of the management team that is running the company. Take a look at the managers and operators of the company who are associated with the company’s daily affairs. The average number of years top management have spent their time in the company. Work culture and the attrition rate of the company you must consider before making your investment. 5. Potential Of The Company In The Market You have to understand the potential of the company in the market before investing your money in it. Investors can quickly analyze the potential of the business in the market and its prospects. A company that performs well after raising the capital can be trusted by the investors. Investors will gain better returns from the investment if the business model is good and can sustain for a longer duration. So work out your plans well before making your investment. 6. Key Strategy And Strength Of The Company Investors can sort out the key strengths of the company by identifying the DHRP. The current position of the company can be traced to the industry where it operates. When you read more about the company, then you will have a clear idea about the positioning and the strategies of the business where its works on. Growth Of IPO And Market Size Trend Analysis Year On Year Basis Final Take Away Hence, these are the current IPO status in the world market as well as in India. You need to make the right investment strategies that can work well for your business. Work out the best plans that can help you to get better returns from your investments. Do not make your choices in the wrong direction while you plan the make the investments in the IPO of shares. Frequently Asked Questions(FAQ's) [su_accordion class=""] [su_spoiler title="1. Is Buying An IPO A Good Idea?" open="yes" style="default" icon="plus" anchor="" anchor_in_url="no" class=""]Depending on the market trend and market situations, you must start buying the IPO of a company.[/su_spoiler] [su_spoiler title="2. Is It Bad To Buy An IPO?" open="no" style="default" icon="plus" anchor="" anchor_in_url="no" class=""]Buying the IPO is not a bad idea but knowing the market status of the company and its share value projections is a bad idea to buy the IPO.[/su_spoiler] [su_spoiler title="3. What Are The Top 5 IPOs?" open="no" style="default" icon="plus" anchor="" anchor_in_url="no" class=""] The list of top 5 Ipo in the Upcoming months are as follows:- Bumble Instacart Nextdoor Petco Robinhood [/su_spoiler] [su_spoiler title="4. Does IPO Always Gives Profit?" open="no" style="default" icon="plus" anchor="" anchor_in_url="no" class=""]You can receive the dividends from the company when you sell the shares in the open market in an IPO. You need to track the market trend to earn a profit from IPO.[/su_spoiler] [/su_accordion] Read Also: Why Create A Powerful Business Continuity Plan? How To Start A Business In 2021 – Best Business Strategies Is Nykaa Going To Dominate The Market With Their Recent Launch?
November, 11 2021
Pro Rata: Definition, Uses, And How To Calculate It?
Pro Rata is a Latin term that means “proportionally.” In business, pro rata is a fair and equitable distribution method. With the use of this method, each concerned party receives a share that is proportional to their entitlement and contribution. This ensures that there is fairness in the company’s distribution process. Based on a party’s proportionate participation in business, the pro rata is used to calculate the reimbursement amount. In this article, you will mainly learn about what is pro rata in business and how to calculate pro rata distribution using the formula. You will also learn about the ways in which pro rata works for businesses and how this formula helps in distributing reimbursements for participation. Finally, we will share with you the major uses of the pro rata distribution formula. Hence, to find out more, read on through to the end of the article. What Is Pro Rata? According to Wall Street Mojo, “This method is especially useful for calculating gains and payments for short-term or partial periods. In addition, it can be applied in various scenarios where proportionate distribution is necessary, including computing hourly wages, expenses, investment profits, and other liabilities.” If the company gives out something on a pro-rata basis, it will basically be assigning the amount or reimbursement to one person as per their share out of the whole amount. This type of calculation has a variety of applications in business finance, as it can be used to evaluate the appropriate portions of any amount of capital. How To Calculate Pro Rata? - Formula Here is how you can calculate pro rata distribution for any given amount: Pro Rate Share = Number of “True” Items in place / Maximum Quantity Possible Therefore, Pro Rata Distribution = Pro Rata Share x Quantity of Related Item To effectively use the formula, here are the things you can do: 1. Gather Necessary Data If you want to calculate pro rata, you will mainly need to gather three data points - the number of “true” items in place, the maximum quality of total items, and the quality of related items. Consider a situation where a tenant pays rent for 15 days in October. Hence, the number of “true” items in the rent is 15. However, the maximum quantity of total items amounts to 30 (the number of days in September). The quantity of related items, in this case, is $600, which is nothing but the monthly payment of rent. 2. Calculate Pro Rata Share To calculate the pro rata share, you will have to divide the number of “true” items in place by the maximum quantity of total items. Using the same example as above, you will need to calculate 15/30 (for the month of September), and you will get 50%. This percentage is the portion of rent that the tenant owes to the landlord. 3. Calculate Pro Rata Distribution To calculate pro rata distribution, you will need to multiply the pro rata share with the quantity of related items. In the example, the pro rata share came out to be 50%, and the quantity of related items is the monthly rent’s monetary value, which is $600. Once you multiply both, you get 50% of $600, that is $300. This is the amount of the rent that the tenant owes to the landlord. How Does Pro Rata Work? According to Investopedia, “Pro rata calculations can be used in many areas, including determining dividend payments, which are cash payments by corporations paid to shareholders. In insurance, pro rata is used to determine the amount of premium due for a policy that only covers a partial term. Allocating the appropriate portion of an annual interest rate to a shorter time frame can also be done via pro rata.” Basically, you can evaluate the proportionate allocation of a fixed amount. If you know how to calculate this figure, you can easily solve issues related to the payment of dividends. Apart from that, it will be helpful for you to determine insurance premiums or calculate part-time salaries. It can help you to determine fair distribution of a fixed amount in hand. When To Use Pro Rata? According to Indeed.com, “Pro rata is practical for business purposes regarding expenses, revenue allocation, capital and other financial scenarios that involve giving or receiving money from one individual or entity. Businesses use pro rata to ensure they accurately and fairly analyze and distribute financial figures. Businesses may also use pro rata when calculating the salary of a part-time employee.” The following are the major uses of pro rata distribution in business processes: Businesses use the pro rata method to pay out dividends or cash payments to shareholders in the organization. It helps to allocate the right portion of yearly interest in case the time range is less than one year. The system also helps to discern the total amount of an insurance policy premium after paying for a partial insurance term. It also helps to calculate the salary of a part-time employee as compared to what that employee would make with a full-time salary. You can also divide certain expenses of businesses among a certain number of stakeholders within a set period of time. The system helps to calculate loan payments on a monthly basis as compared to annual payments. Based on the work and needs of different departments, you can plan a project budget to incorporate expenses. Wrapping Up Pro Rata means everyone gets their fair share - everyone gets their share as per the input they have put into the work. It basically works in sharing dividends with investors based on the proportion that they have invested in the business. This technique has applications in many areas, from billing for services to allocating business partnership income. You can calculate the pro rata amount of an item by dividing the instance of that item by the maximum quantity of that item. You can then apply the ratio to any related item to find the same proportion. Do you have any more to add regarding the application of the pro rata system? Share your thoughts and ideas with us in the comments section below. Read Also: What Is An Angel Investor, And How Does Angel Investing Work? What Is A Venture Capitalist, And What Are Their Functions? 10 Must-Have Entrepreneurial Characteristics
September, 09 2023