Fullerton India Personal Loan
Fullerton India is one of the most well-known non-banking financial companies offering personal loans apart from other lending and financial services. Launched in January 200, Fullerton India today has over 398 branches across the country with services spread across 600 towns and more than 30,000 villages. Fullerton India Credit Company Limited, a wholly owned subsidiary of Fullerton Financial Holdings Pte. Ltd., offers personal loans up to Rs. 20 Lakhs for salaried and up to Rs. 30 Lakhs for self-employed individuals. Personal loans from Fullerton India follow a quick approval mechanism with minimal documentation and online loan application facility.
Personal loans from Fullerton India do not require any guarantor or collateral security. Moreover applicants are free to use the funds availed fromFullerton India personal loan as per their personal need without any restrictions. Funds can be used to cater for any medical expenses, foreign trips, home renovations or any other miscellaneous financial expenses.
Fullerton India offers a wide range of pre-approved personal loans to its pre-existing customers from time to time. The personal loans with Fullerton India come with a host of benefits and features including competitive interest rates and a loan tenure period extending up to as high as 48 months.
Why choose Fullerton India Personal Loan?
High Quantum of Loan: Fullerton India offers a high quantum of personal loan for all eligible borrowers. The maximum quantum of personal loan offered by Fullerton India is Rs. 20 Lakhs for salaried individuals and Rs. 30 Lakhs for self-employed individuals. The maximum personal loan available to applicants at Fullerton India is one of highest quanta compared to other non-banking financial companies or public sector banks in its class.
Competitive Interest Rates: Fullerton India offers personal loans at competitive interest rates with a monthly reducing balance basis, thereby ensuring maximum benefit to the loan borrower.
Easy Accessibility: With a large number of active branches in both urban and rural regions, Fullerton India makes sure that there is a loan centre easily accessible for citizens living in urban, semi urban and rural centres.
Easy Loan Application Process: Fullerton India personal loans are easy to apply for with an online loan application process allowing for easy loan requests with minimal documentation and quick loan disbursal timeline.
Special Benefits for Existing Customers: Fullerton India offers a series of special offers for their existing clients for pre-approved personal loans. Since a large number of people are associated with Fullerton India either using their commercial loan schemes, rural financing schemes or other financial products, they receive offers from time to time about pre-approved personal loans as per their financial history.
Instant Approval: Personal loan applicants need not visit the Fullerton India branch physically and can simply apply for a personal loan online which will be approved within four working days for eligible applicants.
Seasonal Offers: Fullerton India offers attractive seasonal discounts in interest rates and processing fees during festival season and from time to time.
Features of Fullerton Personal Loan
Fullerton India offers a number of benefits and features for its personal loans including low interest rates, minimal documentation and quick approval. Some of the prominent features of Fullerton India personal loan include:
Quick Loan Approval: Fullerton India offers one of the fastest loan disbursal rates compared to other non-banking financial companies. For pre-approved customers, personal loans can be disbursed in one working day, while for new customers, personal loans are approved and disbursed within a stipulated timeline extending to a maximum period of four working days.
Low Interest Rates: Fullerton India offers competitive interest rates for its personal loan applicants. Since a large number of Fullerton India clients come from smaller centres and semi-urban centres, Fullerton India understands the importance of keeping interest rates low, offering maximum benefits to the clients.
Part Prepayment Facility: Fullerton India allows part-prepayment facility for all its personal loans after a minimum period of six months. Fullerton India does not charge any prepayment charges for all personal loans that are prepaid after 36 months from the agreement date.
Dedicated Customer Support: Fullerton India has a 24/ customer support helpline, allowing users access to complete information through both phone and email communication.
Online Loan Application Facility: Users willing to seek a personal loan with Fullerton India need not visit the branch and can apply for a personal loan online. Such a facility not only saves time and offers convenience to the loan applicant, it also reduces the loan approval and disbursal time, leading to a win-win situation for both the customer and the company.
Fullerton India Personal Loan Interest Rates
Interest rates for personal loans vary from bank to bank. Fullerton Personal Loans come with affordable interest rates, making it a viable option for all sections of people. Fullerton India offers personal loans at floating rates.
The rates charged by Fullerton India Personal Loan usually vary from 21% to a maximum of 40% per annum. Each loan offered by Fullerton India is tailor-made, depending on your profile and eligibility criteria. Therefore, the interest rate availed by your friend may be different from that of yours, depending upon your monthly income and nature of work.
Like every financial institution, Fullerton will have lower rates for state and central government employees as well as employees of leading private companies or MNCs. Once you enter your company details and monthly income in the respective column of BankBazaar’s online application form, your Fullerton India Personal Loan interest rate and EMI will be automatically displayed by the system instantly, after considering the details entered. Applying through BankBazaar.com will also fetch you the benefit of discounted interest rates as exclusively applicable for all BankBazaar.com customers.
| Processing Fee | Up to 6% of the Loan Amount |
| Interest Rates | 21% to 40% per annum (monthly reducing balance) |
| Loan Tenure | 12 to 48 months |
| Foreclosure Charges | 4% of pre-closed amount |
| Guarantor Requirement | No |
Fullerton India Personal Loan Eligibility
One of the main attractions of Fullerton India is that they offer personal loans with very flexible eligibility criteria. Fullerton India offers personal loans for both salaried as well as self-employed individuals. If you are a salaried individual with a minimum of Rs. 12,500/- as fixed monthly salary, you are eligible for a Fullerton India personal loan. For self-employed individuals (both professionals as well as non professionals), the minimum income criteria to avail Fullerton India personal loan is Rs. 15,000 per month.
The company also mentions a criteria based on the age of the applicants. The minimum age for applying for Fullerton Personal Loan is 21 years, whereas, the maximum age limit is 58 years. This means, if you are 58 years old and are looking to apply for a Fullerton India Personal Loan, you will get the loan sanctioned for maximum tenure of 2 years (i.e., till you reach 60 years of age).
Fullerton India Personal Loan Eligibility Criteria for Salaried Individuals
| Age | Minimum: 21 Years Maximum: 58 Years |
| Minimum Income | Salaried individuals with minimum monthly income of Rs. 12,500/- & above |
| Total years in job/profession | 3 Years |
| Years in current residence | 1 Year |
Fullerton India Personal Loan Eligibility Criteria for Self Employed Individuals and Working Professionals:
| Age | Minimum: 21 Years Maximum: 60 Years |
| Minimum Income | Self Employed individuals or working professionals earning a above Rs. 15,000 per month |
| Total years in Profession | 2 Years |
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