Fullerton India Bank Personal Loan
Fullerton India offers various financial services like personal loan, home loan, life insurance, business loan and some other useful services easily. Fullerton India is non banking financial organization providing its services through more than 800 branches, 600 cities and more than 30,000 villages. Fullerton India Credit Company Limited is operated and handled by Fullerton Financial Holdings Pvt. Ltd. And parent company is consistently working towards growth of organization to spread its services smoothly. Approved personal loan can be used in different expenses like medical care, home renovation, catering, abroad tour or any important task. Customers will get loan as per their income proof and eligibility.
By the time when regular needs like your favorite vehicle, recently launched smart mobile phone, higher education of your child, marriage of your child, renovation or furnishing of your home, your long time awaited vacation or any other thing you need to manage to turn into reality. Fullerton India avails personal loan in several category, these loans help individuals to fulfill all needs without worrying about property, investment opportunities. These loans are structured and well organized and will not affect the financial stability of Individuals. Company is one of the prominent non-banking financial company that offering globally recognized services in Indian loan market.
Customers do not need to worry about guarantor when he will apply for personal loan that Fullerton India offer. One of the main remarkable features of this borrowed amount is that user can use it any need there will be no restriction on utilization of amount. Another excellent facility that is interesting form user’s point of view repayment tenure can be easily extended up to 48 months.
As we know that personal loan is part of unsecured loan and one of the easiest loan to avail with least documentation to fulfill multiple needs. Banks takes decision of loan approval after validating the financial condition of candidate loan repayment capacity. These loans are easily available for both self and salaried employee who fulfills all the required terms and condition schedule by respective financial organization. As per guideline of reserve bank of India (RBI) some personal loan availed by the non banking financial company (NBFC) and nationalized banks are issued only to salaried employee, reaming are available for both as per their eligibility. Just because this is type of unsecured loan, banks charge little higher interest rate, due to this reason respective agencies faces complication is approval of desired amount.
Special and Exclusive Advantage offered by the Fullerton India for Customers
a. Instant eApproval of personal loan.
b. One of the best and well organized financial models that will never ask for any document related to your property or investment related documents.
c. Fullerton India products are designed according to market need that makes it unique and special among others.
Basic Features of Fullerton India Bank Personal Loan:-
a. Standard documentation, simple procedure and easy to understand policies.
b. Loan approval within two working days.
c. Fullerton India bank offers personal loan in lowest interest rate.
d. No guarantor is required for loan approval.
e. One of the best 24/7 customer support facility to help customers instantly.
f. Customers will get part payment facility.
g. To complete process quickly Fullerton India provides the facility of online application.
h. Fullerton India provides pre- approved loan facility for its customers to save their valuable time. Customers are free to use loan amount as per their requirement.
i. In any special occasion or festive season bank avails some interesting offers for customers.
Currently Available Products of Fullerton India
a. Loan for home furnishing.
b. Property Loan
c. Two Wheelers Loan
d. Loan for Small and medium-sized enterprises (SME)
e. Commercial vehicles Loan
f. Apart from above describe products, customer may opt for another applicable options.
Eligibility Criteria for Fullerton India Bank Personal Loan
1. Applicant minimum age must be 21 years.
2. Applicant maximum age must be not more than 65 years.
3. Applicant must fulfill least regular income criteria specified by the fullerton India.
4. Regular source of income is mandatory for salaried and self employed applicants.
Following Factor Decide the approval of loan amount:
a. Candidate monthly income must be more than INR 12000.
b. If someone is paying EMI of the banks due to any reason, this will decrease the chances of approval of amount.
c. All eligible applicants may avail INR 15 lakh as borrowed amount.
If someone is facing is difficulty due to above describe reason, then by following steps specified below may help to increase their eligibility regarding respective requirement:
a. Candidate must opt for longer repayment tenure, which is more than 48 months, so always take step carefully.
b. Candidate must pay all dues belongs to their credit card and other applicable loan (if any).
Important Information about Fullerton India Bank Personal Loan
Interest rate offered by the fullerton India is based on trending market research and demand of product, and strategy of respective competitors. Final calculation of interest rate will be based on following factors specified below:
1. Nature of Collateral
2. Profile of Customer.
3. Prior relationship with fullerton india.
4. Residential geography of applicant.
5. Tenure of Loan Amount.
a. Processing Fees: 1.5% to 6 % of loan amount.
b. Loan Tenure: 1 to 4 years.
c. Default interest rate: 20% to 49% per annum.
d. Need of Guarantor: No.
a. Foreclosure of previous 6 month is mandatory.
1. Within 6 months from date of agreement date: 7% of amount.
2. Charges for agreement between 7 to 17 months: 7% of amount.
3. If agreement date is between 18 months to 23 months: 5%
4. In case of agreement date between 24 months to 35 months: 3%
5. After the completion of 36 months agreement: 0
Interest Rate imposed on EMI for Salaried Employee
a. Interest rate will be between 17.25% and 35%
b. Valid loan tenure will be between 1 to 4 years.
c. Eligibility for loan approval amount will be between 10 lakhs and 15 lakhs.
d. Lowest EMI as of now is Rs. 2898 per lakhs.
e. Processing fees will be between 2.5% to 6%.
f. Prepayment facility is not available.
g. Applicant age must be between 21 to 58 years.
Interest Rate imposed on Self Employed
a. EMI charges will be INR 3043 per lakhs.
b. Interest rate will be between 20% and 33.50%.
c. Processing fees will be 2% of principal amount.
d. Maximum loan tenure should be between 27 years and 65 years.
e. Foreclosure charges will be applied right after 6 EMI.
f. Prepayment charges will be allows after 6 EMI’s.
g. Availability of loan will be between INR 15 lakhs and INR 50 lakhs.
Offers for Women Customers
1. Maximum loan approval limit is up to 10 Lakhs.
2. Instant loan approval for women applicants from urban, semi urban and metropolitan areas.
3. Up to 2% discount on interest rate.
4. 4 years or 48 months repayment facility.
Fullerton India Charges for Personal Loan Products
a. Collection of Cash/Cheque Charges: INR 300.
b. Swap charges for post dated cheque replacement: INR 500
c. Delay on EMI and Due payment: 0.75% of principal amount monthly.
d. ECS to ECS replacement charges: INR 500
e. Charges for loan cancellation: INR 1000
Required Document for Fullerton India Personal Loan
For Salaried Employee
a. Age Proof.
b. Latest passport size photograph.
c. Processing fees cheque.
d. Address proof.
e. Identity proof.
f. Form 16.
g. Proof of identity.
For Self Employed
a. Address Proof.
b. Identity proof.
c. Latest passport size photograph.
d. Last three years profit loss statement.
e. Bank Statement.
f. Cheque regarding processing fees.
g. Last three year ITR statement.
Points Related to Value Added Services and Online Payment of Fullerton India Personal Loan
a. All customer of Fullerton India will get the facility to pay their repayment amount. This facility is available for customers in association with billdesk.
b. Users must remember that this service is available only for EMI payment not for bulk payment.
c. There will be variation in interest rate in case of delay in emi payment, cheque payment, cheque bounce charge.
d. All respective transferred amounts must credit in respective bank account in two working days.
e. If someone pay extra amount by mistake, then fullerton india will manage all remaining amount in next EMI.
Why to Choose Fullerton India Personal Loan?
Just because agency is offering excellent services through its maximum branches across india, customers may easily access all the required information.
Higher Loan Amount
As we know that fullerton india offers maximum loan amount for all eligible applicants. Here in compare of other financial institution agency offers maximum amount. As per provision, there are different eligibility criteria for different persons.
Competitive Interest Rate
Company assures maximum offers and benefits for customer by offering them competitive interest rate in comparison of other respective agency.
Special Offers for Current Customer
Current customer may avail the facility of preapproved loan. These facilities are easily available for customer because maximum numbers of customers are associated with bank due to other products and services avails by the respective bank.
During festival season bank offers interesting offers and slightly lower interest rate, to attract maximum numbers of customers. These offers inspire customers to buy share in financial market.
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