Fullerton India Personal Loan

Fullerton India Personal Loan Eligibility Criteria

The eligibility criteria for personal loans at Fullerton India include several parameters like- Nature of employment, age, income, work experience, credit score, etc

Nature of Employment Applicant must be a salaried employee of a public limited company or private limited company or a self-employed professional

Minimum Income For salaried:

Residents of Delhi or Mumbai- Rs25,000 p m

Residents of any other City- Rs.20,000 p.m.

Self-Employed Professionals- Minimum annual turnover depending on the nature of the industry or profession

Age

Minimum age- 21 years

Maximum age- 65 years by the time of loan maturity

Nationality Resident of India

Credit Score 750 or above

Work Experience Overall work experience till application- At least 1 year In the present organization- At least 6 months

Fullerton India Personal Loan Documents

The following are the below mandatory documents needed to avail personal loan from Fullerton IndiaList of mandatory documents

PAN Card

Duly filled and signed application form

Proof of identity such as passport, PAN Card, voter ID, driving license, aadhar card, etc

Proof of address such as ration card passport gas or electricity bill (utility bill) driving license voter ID bank statement or rent agreement

Proof of age and signature (passport, PAN card, etc)

Bank statement for the last six months

Additional documents for Salaried Individuals

Salary slips for the previous 3 months

Income tax returns or form 16

Additional documents for self-employed applicants

Proof of income or financial statements (balance sheet & profit and loss account) for the previous 2 years

Proof of business (registration certificate/ license/ GST registration number)

IT Assessment or clearance certificate

Income tax returns for the previous two years

Income tax challans or TDS certificate (form 16 A) or Form 26 AS for income declared in ITR Note-

Loan!

Cash/Cheque Collection

NIL (per collection)

Loan Cancellation Charges Rs 1000

Cheque /ECS/ NACH Dishonoured Charges Rs 300

Swap charges (for replacement of ECS to ECS)

Swap charges for replacement of Postdated cheques to ECS

Rs 500 per instance

Rs 500 per instance

Note- Foreclosure/Pre-payment penalties shall not be charged on all floating rate term loans sanctioned to individual borrowers

Illustration- Rani avails a personal loan for Rs 10 Lakhs from Fullerton India, the interest rate is 15% p.a. and the repayment period is 3 years. You need to calculate payable EMIs, total interest, and the total payable personal loan amount

Monthly EMIs of Rs 34,665 and the total interest payable will be Rs 2,47,951 The total personal loan amount repayable in 3 years by Rani will be Rs 12,47,951 (principal + interest)

1. Elite Applicants

Types of Fullerton India Personal Loan

Purpose: This loan is for the personal needs of applicants earning a minimum of Rs 75,000 per month and having a CIBIL score of 750 or above

Loan Amount- Rs 8 Lakhs to Rs 25 Lakhs

Processing Fee- Up to 3% of the loan amount Disbursal Time- Up to 72 hours of loan approval

2

Personal Loan for Salaried

Purpose: It is a regular personal loan scheme offered to meet the personal requirements of salaried individuals

Loan Amount- Up to Rs 25 Lakhs Loan Tenure- Up to 5 years Processing Fee- Up to 6% of the loan amount

3.

Personal Loan for Self-employed

Purpose: Self-employed individuals can avail of personal loans from Fullerton India to fulfill their personal and business requirements

Loan Amount- Up to Rs 10 lakhs Repayment Tenure- Up to 60 months Special benefits are available for existing customers Lowest years of business existence- 3 years or more

4

Personal Loan for Women

Purpose: Personal loan for women is offered to fulfill the personal requirements of females and help them to achieve financial freedom and dream Disbursement Time- Up to 72 hours of loan approval

5.

Personal Loan for Wedding

Purpose: Personal wedding loan provides an adequate amount of funds for all wedding-related expenses of individuals

Processing Fee- Up to 3% of the loan amount Loan Amount- Up to Rs 25 Lakhs

6. Personal Loan for Holiday

Purpose: This personal loan is for meeting the financial needs of a holiday or vacation including airfares, hotel fees, purchasing travel and other accessories, and funding a tour package

Processing Fee is up to 3% of the total loan amount An additional interest of 2% per month is charged on the delayed EMI

7. Personal Loan for Doctors

Purpose: Fullerton India offers collateral-free personal loans to doctors such as healthcare consultants and practicing doctors working in private or government hospitals or working in clinics

Loan Amount- Up to Rs 30 Lakhs

Processing Fees- Up to 3% of the loan value

8 Personal Loan for Home Improvement

Purpose: This personal loan is for renovating your home such as expanding the living space or making some other necessary improvements to the house

9.

Loan to Value Ratio is up to 90%

Loan Tenure- Up to 5 years or 60 months

Processing Fees- Up to 3% of the loan value

Personal Loan for Medical Emergency

Purpose: Individuals who have urgent need of funds during a medical emergency can avail of personal loan from Fullerton India

Processing Fee- Up to 3% of the loan amount Disbursal Time- Up to 24 hours of loan approval In some cases medical documents including the nature and cost of the treatment

10

Personal Loan for Chartered Accountants

Purpose: Chartered accountants need personal loans for multiple purposes such as expanding space, scaling up your operations, hiring new employees, installation of software, or any other personal reasons Borrower can avail of the personal loan amount up to Rs 30 Lakhs Repayment tenure is 1 to 5 years

11

Personal Loan for Shopping

Purpose: Fullerton India provides personal loans for shopping items such as smart televisions, mobile phones, tablets, washing machines, air-conditioners, or purchasing any branded items

Loan Tenure- 1 year to 5 years or 60 months Loan Amount- Up to 25 Lakhs

12

Personal Loan for Professionals

Purpose: It is a special category of personal loan which is offered to professionals like doctors, lawyers, and chartered accountants It can be suitable for multipurpose such as personal and professional as well

Loan Amount- Up to 30 lakhs (depending on your eligibility and profile) Repayment Tenure- 12 months to 60 months

Steps to Apply for Fullerton India Personal Loan Online

Following are the necessary steps to avail of a personal loan online through Fullerton India

Also Read- IDBI Personal Loan

Step 1 Enter your phone number- First, the borrower need to verify their phone number through OTP sent by Fullerton

Step 2. Enter Personal Details- Enter all your necessary personal details such as basic details (name, address, phone number, occupation, etc ), income details, and PAN Card details

Step 3. Provide Loan Details- You need to select the loan amount as per your requirement and the repayment tenure as per your capacity

Step 4 Upload Documents- Applicants must need to upload all necessary documents based on their occupation

Step 5 Approval and Disbursement- Once your loan amount gets approved the amount will be disbursed in your account within 72 hours.

Pros and Cons of Fullerton India Personal Loan

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