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Fusion Microfinance offers an unsecured loan without requiring the applicant to submit assets as security. Fusion Microfinance provides two types of financial services - the JLG and Emergency loan.
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| Loan Amount | ₹100,000 |
| Interest % | 26 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,553 |
| Total Interest | ₹ 14,636 |
| Loan Amount + Interest | ₹ 114,636 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 55,189 | ₹ 11,682 | ₹ 66,871 | ₹ 44,811 | 55.19 % | |||||||||||||||||||||||||||||||||||||||||||
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| ₹ 44,810 | ₹ 2,955 | ₹ 47,765 | ₹ 1 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||
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For the first step, you will have to visit our website to explore the loan options that fit your needs.
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
One of the most important steps. Now you will have to submit all the required documents digitally.
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
PAN Card
Aadhaar Card
Driving Licence
Voter ID
Passport
Registered rent agreement
Current passport size photograph
Salaried income documents
Self Employed person documents
Note : Fusion Bank Business Loan may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.
Microfinance is a financial service that provides small loans and other financial services to low-income households.
The high-interest rates in microfinance (MF) settings are argued to be justified because of the increased operating and processing costs associated with serving very small loans without collateral.
To qualify as microfinance, loans of up to Rs 300,000 must be supplied to households in rural India, according to a new definition from RBI.
The Interest for Fusion Business Loan is around 24% which can vary based on the amount of loan taken by the business.
Fusion MicroFinance takes 1% of the total loan amount as processing fees for the loan from the borrower.
Refer Loan is a Phy-zital Fintech that connects Lenders and Borrowers digitally as well physically. It provides a Financial Bouquet to the users with multiple Financial solutions. Its AI-based detailed comparison enables users to find the best financial product from the best financial institutions.
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