Description

Fullerton India offers collateral-free personal loans for all types of customers to fulfil their financial needs. Borrowers can get a personal loan from Rs. 60,000 up to Rs. 25 lakhs from Fullerton India for up to 60 months. The existing customers of Fullerton India can get a host of extra benefits, such as top-up loan, digital query servicing and flexible repayment tenure.

Fullerton India personal loan eligibility criteria

Fullerton India offers personal loans for both salaried professionals and self-employed individuals alike with very flexible eligibility criteria. It provides personal loans for applicants aged between 21 years and 60 years. Applicant should have at least one year of work experience and should be working with the current employer for a minimum of six months. 

Fullerton India personal loan eligibility criteria for salaried professionals:

Age

  • Minimum age for applying for a personal loan is 21 years at the time of application 

  • Maximum age limit is 60 years 

Minimum salary

Net monthly salary should be at least Rs. 15000 and for applicants residing in Mumbai and Delhi minimum monthly salary is Rs. 20,000

Credit score

Should have a good credit score

Total work experience

Should be working in private limited company or public sector undertaking (including central, state, and local bodies)

At least one year of work experience and should be working with the current employer for a minimum of six months

Loan tenure

From 12 months to 60 months

Residential status

Any Indian 

Interest rate

12% onwards

Fullerton India personal loan eligibility criteria for self-employed individuals:

Age

  • Minimum age for applying for a personal loan is 21 years at the time of application 

  • Maximum age limit is 60 years 

Minimum income 

Net monthly income should be at least Rs. 15000 and for applicants residing in Mumbai and Delhi minimum monthly income is Rs. 20,000

Credit score

Should have a good credit score

Total work experience

Should have a stable and profitable business 

Loan tenure

From 12 months to 60 months

Residential status

Any Indian 

Interest rate

12% onwards

What are the top factors that affect your personal loan eligibility?

Age: Age affects your eligibility for a personal loan. If you are in your early 20s, you have more chances of getting a personal loan than individuals who are in their 50s or approaching their retirement, because young ones have plenty of time to earn and pay off the loan. Fullerton India offers a personal loan for individuals aged between 21 years and 60 years. 

Monthly income: Your monthly income tells the lender about how much monthly instalment you can afford to repay, after clearing all monthly obligations. Generally, income criteria are based on the city you live in and the lenders you are getting a personal loan from. The higher your income, the better it is for you. 

Credit score: Your credit score is a numerical representation of your credit history. It shows your ability to repay debts and how responsible you have been in repaying debts. Since a personal loan is an unsecured loan, your credit score is one of the most important factors considered for assessment for a personal loan. Generally, a credit score of 750 or above is considered perfect a personal loan approval. 

Job and work stability: Job stability and the organisation you work with impact your chances of getting approval for a personal loan. Lenders look into your employment status before processing a personal loan application. It gives a clear picture of a regular stream of income. While income criteria may vary from lender to lender, a salaried person should have at least 2 years of work experience and should have worked for at least 1 year in their job. A self-employed person needs to have a stable and profitable business running on for 2 to 5 years.  

Documents required for Fullerton India personal loan

Here is the checklist of documents required for a personal loan from Fullerton India:

For salaried employees

  • Completed personal loan application form with passport size photographs
  • Proof of identity: A copy of Voter ID card/ Driving license/ PAN card/ Passport/Aadhaar card 
  • Address proof: Ration card/ Telephone bill/ Rental agreement/ Passport copy/ Driving license/ Bank passbook or statement/ Electricity bill
  • Age proof: PAN card/ Passport/ Certificate from a statutory authority
  • Income proof: Salary slips for the last 3 months along with salary certificate and latest Form 16
  • Bank statement: Bank statement showing salary being credited for the last 3 months 

For self-employed individuals

  • Completed personal loan application form with passport size photographs
  • Proof of identity: A copy of Voter ID card/ Driving license/ PAN card/ Passport/Aadhaar card 
  • Address proof: Ration card/ Telephone bill/ Rental agreement/ Passport copy/ Driving license/ Bank passbook or statement/ Electricity bill
  • Age proof: PAN card/ Passport/ Certificate from a statutory authority
  • Business address proof
  • Latest 2 years ITR along with computation of income, B/S, P&L a/c with all schedules audited by a Chartered Accountant 
  • Bank statement: Business (current account) statement for latest 6 months
  • Form 16

Business continuity proof

  • Additional documents: Sole proprietorship declaration
  • In case of partnership: Certified copy of partnership deed 

How to apply for Fullerton India personal loan through Afinoz?

Applying for a personal loan on Ainoz is very easy. You can apply for a personal loan by clicking ‘Apply Now’ button on the personal loan page. Now fill the short and simple personal loan application form to check your eligibility. You will receive exclusive offers from multiple lenders, including Fullerton India, based on your eligibility.  As per the requirements and offers, you can apply for Fullerton India personal loan. 

Why is Afinoz?

Afinoz is a one-stop destination for customized rate quotes on loans and investment products in India. The company is owned by DS Finworld Pvt. Ltd. Our objective is to make personal financial decisions easy, seamless and transparent for our customers. We have designed a system that provides comprehensive results and enables customers to compare products simultaneously so that they can access the right product.