FT Cash Business Loan

Features & Benefits of FT Cash Business loan

The FT Cash business loan online application may be given for expanding the business or for the various working capital needs like paying salaries, purchasing machines etc. Here are key features of FT Cash Business loans:

• Purpose of your loan- the borrower can avail the FT Cash business loan for expanding or modernising their business, to purchase assets and to set up new units.
• This business loan is available for both the self-employed professionals and non-professionals.
• You must be within the age of 21 to 65 to avail this type of business loan.
• Security- Unsecured and secured both.
• The loan tenure can range from 1 to 36 years.
• The FT Cash business loan interest rate can be within the range of 18% to 24%.
• The EMI of the FT Cash business loan starts from Rs 3615.
• The processing fee of the loan amount is 2%.

The Benefits of taking Business Loan from FT Cash are as follows:

• FT Cash offers special business loans for the retailers.
• It enables easy, simple loan application and documentation and quick loan disbursal facility when you submit the documents required for FT Cash business loan in order.
• No collateral security is required.
• Automated daily and weekly payment facility is available.

FT Cash Business Loan Overview

FT Cash is a Financial Services Company that offers different retail business loans that suit is ideal for the different needs of the retailers. Their different business loan for the retail store includes MSME loan, SME loan, term loan, working capital loan, Flexi loan, and capital loan.

Eligibility Criteria and Factors Affecting FT Cash Business loan Eligibility

To avail the business loan at FT Cash, the borrower must fulfil the following FT Cash business loan eligibility criteria.

Age- FT Cash provides business loans to those who are at least 21 years old at the time of loan acceptance and no more than 65 years old when the loan matures.

Loan amount- FT Cash offers loan amounts ranging from Rs 50,000 to Rs 1 crore, depending on your loan eligibility. Apply for a loan amount that you can comfortably service to increase your chances of acceptance.

Profitability and revenue- For FT Cash, a profit for at least two years is required, as well as a minimum company turnover of Rs 6,00,000.

Business stability- A 12-month company track record is required by FT Cash. The bank will also search for a particular length of time or a certain amount of money that might affect your loan eligibility.

ITR and Banking- FT Cash will only issue you a loan after reviewing your tax returns and bank data. You must provide your ITR information and bank statements for a minimum of 0 months and 12 months, respectively, to the bank. 

CIBIL Score- FT Cash will look into your loan and credit card payback history, both current and previous. To secure a loan, the bank recommends that you maintain a score of 750 or above.

FT Cash Business Loan Fees and charges

Aside from interest rates, company loans are subject to a number of additional variables, including:

Foreclosure charges- If you wish to pay off your full loan before the end of the term, you'll have to pay these fees. After paying one EMI, FT Cash allows you to prepay your loan with prepayment fees. - NIL foreclosure charges

Processing fee- A processing charge of 2% of the loan amount plus relevant service tax is requested by FT Cash.

FT Cash Business Loan Interest Rates

FT Cash is known to provide attractive interest rate for business loans. Its secured and unsecured loans have different rate of interests. Check out the table below to learn about the interest rate provided by this financial institute and also its eligibility.

Factors affecting FT Cash Business loan interest rates

There are several factors that can help to determine if you are eligible for applying for a business loan from FT Cash and these are as follows:

Loan amount- the business loan rate of interest is determined by the amount of the loan that you are applying for. Higher loan amount will result in a lower rate of interest and lower EMIs. This bank gives a loan of minimum of Rs 50,000 and a maximum of Rs 1 crore. 

CIBIL Score- FT Cash will offer you the business loan at a higher rate of interest if your CIBIL score is below 300 or a loan defaulter. Hence, if you want to apply for a business loan at FT Cash, make sure that the CIBIL score is at least 700 or above. Higher CIBIL score will result in faster loan approval and lower interest rate. 

Revenue- FT Cash will also enable you to apply for a business loan at their bank if you have a higher monthly revenue and it gives loans to those whose annual turnover is at least Rs 6,00,000.

Time in business- This bank also offers loans at a lower interest rate if you have a great knowledge and experience in your business. Your business must be in existence for a minimum of 12 months in order to apply for the loan.

Documents Required for FT Cash Business loan

If you want to apply for the FT Cash business loan, you must submit all these documents as FT Cash business loan requirements:

Address proof of the individual: Aadhaar Card, voter ID, Bank statement, registry copy, utility bills, rent agreement. 

Identity proof of individual: Driving license, Passport, PAN card, Aadhaar card, Voter ID card.

Business existence proof: PAN, Sales tax/ VAT/excise/service tax registration, trade license, copy of partnership deed, certificate of practice, registration certificated issued by RBI, SEBI.

Copy of income TAX PAN for 24 months

Bank statement of last 6 months

How the EMI calculation works for FT Cash Business loans?

The Equated Monthly Instalment Equator Calculator assists in calculating the monthly instalment amount. The FT Cash Business Loan EMI Calculator makes calculating monthly EMIs simple and quick. To obtain the results, we must enter information such as the loan amount, rate of interest, and duration into the calculator. This online calculator estimates your loan eligibility, loan amount, and the best interest rate offer available to you. It determines if a company loan is eligible based on a variety of parameters. To assess the loan amount eligibility of its borrowers, these elements include age, loan amount, loan tenure, and income, among others.

How FT Cash compares with other lenders?

FT Cash Business Loan Customer Care Number

• Mumbai

Address: 3rd Floor, Times Square, C Tower, Opp Mittal Industries, Marol, Mumbai - 400059

• Ahmedabad

Address: A - 306, Sumel 7, Near Soni Ki Chawl, Rakhiyal Road, Ahmedabad - 380023

• Hyderabad

Address: House No - 1-11-251/11, Technals Co working space, Begumpet, Hyderabad- 500016

• Pune

Address: 301, TRIOS Coworking Private Limited, Lalwani Icon, Viman Nagar, Pune 411014