Fullerton India personal loan- Eligibility, Interest Rate, Emi Calculator

02 Apr 2020 4 min read
Personal Loan: Fullerton India personal loan-  Eligibility, Interest Rate, Emi Calculator

Fullerton India Credit Company Limited (FICCL) provides loans and other products to retail customers, MSMEs and other small sectors. Headquartered in Mumbai, the NBFC (Non-Banking Financial Company) is a subsidiary of Fullerton Financial Holdings Pte. Ltd. which is a fully owned subsidiary of the Temasek Holdings Private Limited, a Singaporean sovereign wealth fund. Fullerton India personal loan helps applicants in meeting their financial needs to fulfill their dreams and aspirations. Life events are unexpected and some of them might need huge financial assistance. Thus an individual must be prepared to deal with it.

Emergency financial needs in the time of financial crunch can leave many of us exasperated, and we turn to family and friends for help. What if nothing works? Well, a best personal loan is the best way to meet emergency financial needs. This loan comes with no holds bar if it is about using loan amount. There is no restriction on how one can use this money. Today, many financial institutions and banks are offering personal loan at an attractive interest rate. Fullerton India is one such company offering a Personal Loan with an attractive interest rate.

Fullerton India personal loan can be availed easily and at an attractive interest rate. It also offers in approval and disbursement of the loan amount. The tenure for the same lasts from 1 year to 4 years. It also provides a number of personal loan products like personal loan for the wedding, personal loan for home improvement, etc. Fullerton India also offers personal loans to women and the elite at attractive interest rates. Read ahead to know more about Fullerton India's personal loans.

Fullerton India Personal Loans

Personal Loan for Salaried

Personal Loan for Wedding

Personal Loan for Home Improvement

Personal Loan for Women

Personal Loan for Holidays

Personal Loan for Emergencies

Personal Loan for Elite

Personal Loan for Doctors

Consumer Durable Loans

Garima Loans

SME Loans

Loans for Traders

Loan for Manufacturers

Growing Enterprise Loan

Livestock Loan


How can One Use the Fullerton India Personal Loan?

The best part about a personal loan is that it doesn’t come with a restriction clause. The personal loan can is usually taken at the time of emergency and to meet unplanned expenses. Fullerton personal loan can be used for the following purposes:

  • Wedding
  • Medical expenses
  • Medical expenses
  • Home improvement
  • Buying large appliances
  • Holidays etc.

Eligibility Criteria for Fullerton India Personal Loan

Eligibility Criteria for Salaried Individuals

Criteria

Salaried Individuals

Age

21 years – 58 years

Years in Job

For being eligible for Fullerton India Personal Loan, it’s important that the applicant must be employed with the current company for at least 3 years

Years in current residence

The applicant must be staying at his/her current residence for at least 1 year

Eligibility Criteria for Self-employed Individuals

Criteria

Self-Employed Individuals

Age

21 years - 60 years

Years in current business

2 years

Documents Required for Fullerton India Personal Loan

To apply for a personal loan, the prospective applicant must submit some mandatory documents. The loan provider needs to cross-check the documents to assess the credibility and creditworthiness of the applicant. Based on these documents, the loan provider processes the loan request. Here is the list of entire documents that one needs to submit:

  1. Documents that salaried individuals need to submit:

  • Proof of identity- Voter ID, Driving Licence, passport, PAN card
  • Address Proof- Passport, Utility bills, Ration Card, Rental agreement, Aadhaar card
  • Last three months’ bank statement
  • Form 16
  • ITR of last three months
  • Passport size photograph
  • Processing Fees cheque

2.    Documents that self-employed individuals need to submit:

  • ID Proof-  Passport, Voter ID, Aadhaar Card, PAN Card, Driving License ( any of these would work)

  • Proof of residence-  Utility bills like electricity bill, telephone bill ( it should not be more than three months old), Passport, Aadhaar Card

  • Proof of Income (audited income proof (audited financials for the last two years).

  • Bank statement of the last six months

  • Address proof of the office

  • Office ownership proof

Fullerton Indian Personal Loan Interest Rates

The interest rate charged by the NBFC varies from one application to another. It generally depends on a number of factors of which some of the most important ones are credit worthiness of the applicant, his salary, city/place of residence, stability of the job, place of job, etc.

Interest Rate

20 % to 49 %

Minimum Loan Amount

Rs. 50,000

Maximum Loan Amount

Rs. 30 Lakhs for self-employed and for salaried individuals, it is Rs. 20 Lakhs.

Minimum Loan Tenure

12 months

Maximum Loan Tenure

60 months

Processing Fees

Up to 6.5% of the Loan Amount

Loan cancellation charges

Rs. 1000

How is Fullerton India Personal Loan Interest Rate Calculated?

Fullerton India considers some factors while offering the personal loan interest rate to its applicants. Some of the most important factors are mentioned below:

  • Profile of the customer
  • Loan Tenure
  • Geography of residence (Metro city, urban, semi-urban or rural)
  • Nature of Collateral (if provided)
  • Prior/existing relationship with Fullerton India.

Personal Loan Interest Rate Calculator

Personal loans have made it easy for individuals to fulfill their dreams, it may be a luxury vacation or a grandeur wedding, or even renovating your house; personal loan makes it easy for individuals to fulfil their desires and pay it back in EMIs. Fullerton India's personal loan interest rate calculator allows one to add the loan amount he are looking for, tenure and get the EMIs.

You can calculate the EMI amount by yourself as well. All you need to do is to fill in the data and based on the following formula, calculate the EMI:

E = P*r*[(1+r)^n/((1+r)^n-1)] 

Where, E is the EMI

P= Principal amount (loan amount)

n= Number of years

r= Personal Loan Interest Rate charged per month

How to Apply for Fullerton India Personal Loan?

  • Fullerton India offers you the ease of loan application as you can do the same online through their website
  • Log on to the website, open the application form and fill all the details.
  • Make sure that you have soft copy of all the above-mentioned documents handy.
  • Fill in the details and submit the form.

How to Check the Fullerton India Personal Loan Application Status?

Once you apply for a personal loan by Fullerton India, the NBFC starts the loan approval process. All documents are verified and eligibility of the candidate is weighted. If the company is of the opinion that the loan will be repaid by the applicant, it approves the application and the amount is sanctioned to the borrower.

An applicant can check the status of his loan approval process in the meantime. The best and simplest method is to do so is through the online portal. The steps are mentioned below:

  • Visit Afinoz
  • Click on “Track Your Loan Application” in the “Services” tab
  • Provide your details such as Loan Application ID, Mobile Number and the Date of Birth
  • Submit the request
  • The status of your loan application will be provided on the screen

One can also call the Fullerton India’s Application Status tracking number to know the status of his application at 9899889816. The applicant has to give a missed call on this number if the application was done through the online portal or the InstaLoan app.

Fullerton India Top Up Personal Loan

Borrowers of Fullerton India personal loan are also eligible for top-up loan. However, one has to repay the EMIs on time to be eligible for the top-up personal loan. The interest rate may or may not be the same for the top-up. In some cases the company offers the same interest rate as the personal loan interest rate. However, this is not the case for all applications.

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