Fullerton India Personal Loan

Highlights

  • Fullerton India personal loan comes to you at an attractive interest rate of 14.00%

  • This loan comes handy to meet all your personal needs

About Fullerton India Personal Loan

Being a Non-Banking Finance Company, Fullerton India is known for offering a wide range of financial products. Yes, with its many financial products such as personal loans, it fulfills the needs of many. When it comes to a personal loan, this renowned company leaves no unturned to meet all your desires. Yes, whether it’s your child’s marriage, furnishing the home, family holiday or funds for higher education, Fullerton India with its flexible and thoughtfully designed personal loans satisfies the needs of all.

Want to avail a personal loan that comes to you with multiple features and benefits? If yes is your answer, you can apply for Fullerton India Personal Loan. The reputed lender offers you this credit facility at an attractive interest rate, thereby allowing you to enjoy the pocket-friendly EMIs and reduced Interest Outgo. Want to know more? Read the page below.

Personal Loan

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    Fullerton India Personal Loan Interest Rates September 2020

    Personal loan interest rates are not uniform and can vary from customer to customer. The interest rates are determined based on various factors such as the loan amount, tenure and the repayment capacity of individuals. At present, Fullerton India offers the loan at an interest rate ranging from 14.00% - 24.00% p.a.

    ParticularsDetails
    Interest Rates14.00% - 24.00%
    Loan AmountUp to INR 20 lakh
    Loan TenureUp to 60 months
    Processing Fee0% - 6.00% of the loan amount
    Foreclosure Charges0% - 7.00%

    Advantages for Existing Customers

    • Top-up loan to customers on their outstanding principal amount
    • Additional benefits on processing period and interest rates

    Maximum Loan Amounts According to Locations

    Fullerton India sets loan amounts not only based on your income and repayment potential but also your location. The table below shows the maximum loan amount you are likely to get based on your location.

    LocationsMaximum Loan Amount
    Metro/Tier 1 and 2INR 20 Lakh
    Tier 3 and 4INR 15 Lakh

    Fullerton India Personal Loan Eligibility Criteria September 2020

    The eligibility criteria is given below :

    CriteriaDetails
    AgeMin-21 years; Max-60 years
    No. of years in employment3 years & above
    Current Experience6 months & above
    Net Monthly IncomeINR 30,000 & above

    Apart from all these, you must not have taken an unsecured loan in the last 3 months. Also, you must not have availed a moratorium on any external trade line. In case you have, the EMI payment for June and July 2020 becomes mandatory. For getting loans above INR 10 lakh, you must submit a proof of residence owned by you or your parents if you are staying in a rental accommodation.

    Fullerton India Personal Loan EMI Calculator

    Stuck at long and lengthy EMI calculation? Speed up the process by using the personal loan EMI calculator. Not only that, you can even know the total interest amount and the overall repayment using the calculator. It shows the repayment summary when you put the values of the loan amount, interest rate and tenure in the respective fields.

    Fullerton India has categorized its customers basis on the company they are working for, Net income, and tenor of the loan they are going to opt for. That way Fullerton India ensures to provide maximum benefits to its customers basis on their profile.

    Multipliers Net Income (In INR)Govt. employee/MNC/Public Listed CompaniesNon Govt. Employee
    <= 24 months tenor>24 months tenor<= 24 months tenor>24 months tenor
    Below 20K812610
    20K-25K913812
    25K-35K11161015
    35K-50K13181216
    >50K15201318

    Let’s take an example to make you understand better how multipliers work.

    If you are a govt employee and getting paid with a Net Income of INR 40,000 and looking for a loan for 48 months and paying no existing emi as of now.

    Net salary – INR 40,000

    Tenor – 48 Months

    Employment type – Govt employee

    As per the above table and your details you are eligible for a multiplier of 18.

    Loan amount – Net income* Multiplier

    40000*18 = INR 7,20,000

    In this case scenario, you can avail up to INR 7,20,000 of loan amount.

    Another Case Scenario – In this case if you have an existing emi of INR 8,140 and also a credit card outstanding of INR 80,000. Then your eligibility would be different.

    Net salary – INR 40,000

    Tenor – 48 Months

    Employment type – Govt employee

    Existing EMI – INR 8,140

    Credit card outstanding – INR 80,000 (To consider this as an EMI bank only take a percentage of the outstanding) – (5%* 80000) = 4000 (now this will be your EMI for credit card)

    Total obligation = INR (8140+ 4000) = INR 12,140

    New Net Income to be considered for loan calculation – (Net salary – Total Obligations)

    40000-12140 = INR 27860 (New income)

    Loan amount – New income* Multiplier

    27860*16 = INR 4,45,760

    Here multiplier got changed as per the New income. Now, you can avail up to INR 4,45,760 of loan amount.

    Rate of interest and other charges would be decided by the lender at its sole discretion basis on your profile.

    How to Apply Online for Fullerton Personal Loan

    Fullerton India personal Loan has several benefits for both Salaried and Self-employed professionals. Availing a personal loan online is much easier and simpler as it used to be . Please read below the steps to know in detail.

    Step 1: You need to visit the website and fill in the application form with your personal and professional details and submit the form.

    Step 2: Post submitting the form you will get to know the loan amount and it can be considered as a soft approval basis on your details.

    Step 3: Once your application is approved, you need to upload the documents as per the list we have given below.

    Step 4: Once your documents are uploaded you will receive a call from a Fullerton representative to verify your documents and details. And then they will send you the Loan agreement kit online to sign off.

    Step 5: Once you give them the signed agreement, within 30 minutes you will receive the loan amount into your account.

    Documents Required to apply for Fullerton Personal Loan

    SalariedSelf-Employed
    Application form with a recent photographApplication form with a recent photograph
    Proof of identity (passport copy/ voter ID card/ driving license/ PAN card)Proof of identity (passport copy/ voter ID card/ driving license/ PAN card)
    Address proof (ration card/ telephone bill/ electricity bill/ Rental agreement / passport copy/ bank passbook or statement/driving license)Address proof (ration card/ telephone bill/ electricity bill/ Rental agreement / passport copy/ bank passbook or statement/driving license)
    Age proof (PAN card, passport, any other certificate from a statutory authority)Age proof (PAN card, passport, any other certificate from a statutory authority)
    Bank statements (bank statement / bank passbook for last 6 months) or last 3 months salary slipProof of business existence
    Form 16Bank statements (bank statement / bank passbook for last 6 months)
    Income tax returns for last 3 yearsProfit and loss statement for last 3 years
    Processing fee chequeBalance sheet for last 3 years
    Income tax returns for last 3 years (for self and business) duly certified by a CA
    Processing fee cheque

    Features and Benefits

    Flexible and attractive interest rates – Fullerton India offers interest rate as low as 14% to start with and can give up to 24 % to both salaried and self-employed customers.

    • Simple documentation – Fullerton India offers paperless loan if you apply online with minimal formalities to be done.
    • Quick processing & Disbursal – After all checks are approved the approved loan amount will be credited to your bank account within 30 minutes of approval.
    • No requirement of a collateral/guarantor – Being a unsecured loan personal loan does not require any collateral and also any guarantor in case of Fullerton India.
    • Easy monthly repayment – Fullerton India provides easy and smooth repayment of your personal loan.

    Fullerton India Personal Loan Status

    It is absolutely easy to check the real-time status of your personal loan. All you need is log in to your account to check the status. You can see whether application is accepted, rejected or pending as everything is now on your fingertips all thanks to this online facility that allows you to know the status without any hassle.

    Fullerton Personal Loan Statement Online

    You can check the statement of your personal loan by visiting the official website of Fullerton India. The lender allows you to know each and every detail of your loan in a hassle-free manner. The statement includes all the required details related to your account, which makes it easy for you to keep a tab on everything on the go. Isn’t it great? Of course, it is!

    Does Fullerton India Offer a New Personal Loan After You Close the Previous Personal Loan?

    Yes, you can easily get a new personal loan from Fullerton India soon after closing your previous loan. But while availing this new loan, make sure you have a minimum gap of at least 9 or 12 months. Yes, doing so won’t hamper your CIBIL score. The process of applying for a loan in Fullerton is easy and quick as you can either apply online or go for an offline mode.

    What If Your Personal Loan Application Has Already Been Rejected by Fullerton India, Would You be Able to Apply Again?

    Once your loan application has been rejected from Fullerton India, you won’t be able to apply again anytime soon. It is advisable that you should wait for some time, say 6-7 months, to apply again. The reason being, if you wait for some time, it will help in boosting your CIBIL score. And, if your CIBIL is good, in such a case, you would be able to easily apply again at the same lender. Having a good score is definitely going to work in your favour as it helps you grab the best deal. So, if you are someone whose loan application has been recently rejected by Fullerton India, all you need to do is just wait for some time so that you could maintain a good credit score.

    How Can You Foreclose or Prepay Your Fullerton India Personal Loan?

    You can do so by giving a foreclosure request at the customer care centre and branch. You can also email your request or register it via customer service portal or mobile app. Let’s check out what will happen after you submit the foreclosure request.

    • You will get the date on which you will receive your foreclosure ID
    • Afterward, you can visit the branch and pay the foreclosure sum and applicable charges
    • You will receive an acknowledgement of payment and foreclosure after the former

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