The current financial market has numerous lenders offering personal loans. But are any of them good enough? There are a few things that you should always check before taking a personal loan. Before you finalize a lender you need to check with the lenders credibility and check the interest rates offered by different banks. Look for lenders that offer low interest rates and added benefits on loans.
Also, find out about the foreclosure or pre-payment process and if any changes are applicable for the same. A Non-banking financial company (NBFC) like Fullerton India offers a personal loan that takes care of all your needs. They disclose all the information needed for loans to make a sound decision. The Fullerton Personal Loan is packaged in such a way that it takes care of all your financial requirements. Whether you want to finance a trip abroad, consolidate your debts, or purchase a new car or a home with Fullerton India personal loan.
Features & Benefits
Avail High Loan Amount
At Fullerton India, you can borrow a personal loan amount of up to Rs. 25 lakhs. The loan amount you are eligible for depends on several factors like your age, net monthly income, credit history, etc. Hence you need to make sure you meet the basic eligibility criteria for a smooth loan approval.
Competitive Interest Rates
The interest for a personal loan may vary for each borrower applying for a loan. Personal loans have fluctuating interest rates varying from 12% to 24%. The interest rate on Fullerton personal loan is 11.99% for salaried individuals and self-employed individuals with a maximum limit of 36%*. The interest on personal loans will also depend on how well the borrower meets the lender’s eligibility criteria.
Minimal Documentation Required
The application process for personal loan is totally paperless if you apply for a loan through the online portal. You need to scan the required documents and submit it along with the online application form.
Quick Loan Disbursal Process
On submission of the documents and details your loan application goes under verification. Once approved, the loan amount gets credited to your bank account within minutes. The loan funds can then be utilised for all kinds of financial requirements. Fullerton India offers additional benefits for its existing customers, so, if you already have an account with them you can make the most of the benefits they have to offer.
Loan Eligibility Criteria
Every bank and lending institution has set eligibility criteria for loans. There are numerous factors the lenders take into consideration such as the applicant’s credit history, age, income, work experience, etc. Here’s a list of the basic loan eligibility criteria for Fullerton Personal Loan
- The applicant needs to be between the ages of 21 and 60 years of age
- The applicant must be have an Indian citizenship to be eligible
- The applicant should be employed at a private limited company or public sector undertaking or a self-employed individual
- For Salaried Individuals:
-Rs. 25,000/Month for Mumbai or Delhi resident
-Rs. 20,000/Month if residing anywhere in India
- For Self Employed Individuals the minimum yearly profit after tax set based on the profession/industry
The following are a list of basic documents required for a Fullerton India Personal Loan.
- Proof of identity such as Aadhar Card, PAN Card, Passport, etc.
- Proof of address such as Aadhar, Passport, Phone bill, Electricity bill, etc.
- Documents for proof of age
- For salaried applicants, a salary slip for the previous three months
- Bank statement for the previous six months
- ITR (Income Tax Return) or Form 16
- For self-employed applicants proof of Income / financial statements
How to Apply for a Fullerton Personal Loan?
Given below is the process to apply for an online personal loan at Fullerton India
Step 1: Visit the official website of fullerton India and select the “Apply Now” button displayed on the page.
Step 2: Now enter your mobile number and select if you are salaried or self-employed individual
Step 3: Once your mobile number is verified you can enter the loan amount you need and preferred repayment tenure.
Step 4: Fill in your information including personal, employment and banking details.
Step 5: Finally, provide all the required documents with the application form and click on submit.
Other ways to apply for a Fullerton personal loan is via customer care support, or through Chatbot Dia. Salaried applicants have the option to apply through Fullerton India’s Instaloan mobile app and complete their application.
Follow this guide to get faster approval on your loan application make sure you fulfill the eligibility criteria and submit the required KYC and financial documents. Fullerton India Personal Loan realizes how important it is for you to have the funds when you require it the most. The quick loan disbursal policy of Fullerton India makes it an ideal choice for your immediate financial requirements. The personal loan amount gets disbursed within 3 to 4 days’ time and in exceptional cases where you require funds for a medical emergency, the amount gets disbursed within 24 hours.