Fullerton India Credit Company Limited offers personal loans to salaried and self-employed people at pretty competitive rates. It is owned by Fullerton Financial Holdings Pte. Ltd. It provides loans up to Rs 20 lakhs to salary earning people while up to Rs 30 lakhs in case of the self-employed. They have a quick approval mechanism with online application facility and demand minimum documentation.
They do not expect any collateral security or a guarantor. The applicants can use the funds for these personal loans for any legal purpose without any restriction. At Loanbaba.com, you can check out all the features of personal loan Fullerton.
|Fullerton Personal Loan Details Updated on|
|Loan Amount||Rs.1,00,000 to Rs.20,00,000|
|Loan Tenure||5 Years|
|Interest Rate||11.99% to 23.99%|
The following key points will help you understand the features and benefits of the personal loans:
Only the Indian citizens who are aged between 21 – 60 years can apply for the loan. The minimum salary for the salaried individuals should be over Rs 12,500 per month while in case of professionals and the self-employed, the minimum salary requirement is Rs 15,000 per month.
Applicants can avail a loan amount of not more than Rs 20 lakhs in case of salary class people while it reaches to Rs 30 lakhs in case of the self-employed. However, the final loan value shall depend on the repayment capacity and financial records of the applicant.
The loan tenure ranges from 12 – 48 months, thus making very convenient for the loan seekers.
At Loanbaba, you can compare and apply for personal loans online. You can check out several personal loan schemes by Fullerton and go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. You can also quickly apply for Fullerton Personal Loan online on our website without having to visit the bank branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.
You can apply for Fullerton personal loan or any other bank/NBFC personal loan at Loanbaba.com.
Personal Loan Fullerton interest rate (fixed) ranges between 14.00% and 34.00%. Keep a check on this page to note the updated Fullerton personal loan interest rate for the current year.
Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost Fullerton personal loan eligibility calculator at Loanbaba.com. The eligibility criteria for Fullerton’s personal loan are discussed below:
Fullerton has personal loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.
Below provided are important questions about personal loan Fullerton Bank.
As a personal loan is an unsecured loan, banks and NBFCs place a lot of importance on your credit score. It is because your credit history tells the lender as to how credit hungry and wise you are. If you had taken loans and timely repaid the same, your credit score will be good and convince the lenders to look at you as an eligible candidate to lend money. But if you do not have any credit history, then financial institutions will have no way to know if you can be trusted with money and repayments.
Moreover, a bad or poor credit score will signify that you have been irresponsible financially and have not repaid loans in time. This will dissuade the lender from providing you any fund. Even if you do get a loan on a below average credit score, the terms and conditions of the loan will be quite stringent, such as a high rate of interest, not so flexible repayment option etc.
This is why it is important to never miss credit payments and retain a good credit score even if you think you may face no need of taking a new loan in the future. Consciously, you must put in best efforts to repay in time, the old loan, and any new loan you plan to take.
To track the live status of the loan application, visit www.fullertonindia.com. It is the bank’s official website. Here on the homepage, you can find the ‘Contact Us’ tab. In this tab, there is an option ‘Track your personal loan application’. Here, you have to fill in basic details such as your mobile number, birth date, and loan application ID. Make sure to fill correct details. After submitting the details, the institution will help you with the current status of your loan application. You can even track the status of the online submitted form on InstaLoan App or by calling up with customer care. You will receive a call back about any query, usually within 24 hours.
The Fullerton personal loan charges are mentioned below
EMI is also known as equal monthly instalments. Most of the loans come with a repayment plan of EMI. Monthly instalment makes it easier to manage the repayment burden. The EMI comprises of two equally divided components, interest and principal borrowed. Depending on the rate of interest applicable, loan amount, and tenure, the interest payout will differ.
A longer tenure will cause you to pay a higher interest amount but lower instalment every month altogether, and vice-versa. Thus, you must always choose the shortest possible tenure depending on your repayment capacity. Even if shorter tenure prospective seems attractive, it is not always possible to pay higher EMI amount. Thus, you may have to choose a longer tenure than you may want.
To plan repayment judiciously, follow the below-mentioned steps:
It is always possible to improve your eligibility for the loan. Even if you already meet the eligibility criteria by the financial institution, you can convince it for a better term and rate if you surpass their expectation. This can be achieved in a follower manner.
If you are an existing customer with a good repayment record with Fullerton India, then your loan application will get processed faster and the bank will already have your details and documents. The institution will be aware of your repayment capacity, income, and thus, able to trust you better than new customers. It may even have special rates of interest for existing customers. As understood, existing customers are eligible to take a top-up loan facility if they have existing outstanding principal amount.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Fullerton Bank.
I stand by with Fullerton Bank for the personal loan in Mumbai. My experience was nice. Verification process was also done in time and I received the amount within a short time.
Personal loan in Pune was approved by Fullerton bank at a great interest rate! I was able to secure the loan for a desirable tenure.
As I was holding a savings account with Fullerton bank they gave me personal loan for which the entire documentation process was very less. It was a quick disbursement procedure.
Taking personal loan in Gujrat by Fullerton bank through online portal of loanbaba was after all not a bad idea. This way I could communicate with the Fullerton without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.