Fullerton India Home Loan Interest Rate 2020
|Interest Rate||8.99% onwards|
|Loan Amount||Up to Rs. 5 crore|
|Loan Tenure||Up to 30 years|
|Processing Charges||Up to 3% of the loan amount|
Fullerton India Home Finance Co. Ltd, also known as Fullerton Grihashakti, provides home loans to customers at a competitive interest rate starting from 8.99%. Considering the distinct requirements of the customers, Fullerton India offers tailored home loan solutions for different purposes such as construction, purchase, renovation, and extension of a flat/house. Read through to get to know all the details.
Features and Benefits of Fullerton India Home Loan
- High loan amount available
- Attractive interest rate
- No hidden charges
- Wide range of home loan products
- Simplified documentation
- Availability of Balance transfer facility
- Up to 30 years of repayment time
Fullerton Grihashakti Home Loan Interest Rates
The current Fullerton Grihashakti home loan interest rate starts from 8.99% per annum and goes up to 12.00% per annum. The actual rate of interest applicable depends upon the loan amount, income eligibility, loan tenure, property type and other risk parameters.
Fullerton India Home Loan Fees & Charges
|Processing Fee/ Charge||Up to 3% of the loan amount|
|Application Fees||For Loan less than or equal to Rs. 10 Lakhs: Rs. 2,500|
For Loan amount > Rs. 10 Lakhs and <=25 Lakhs: Rs. 3,500
For Loan amount > Rs. 25 lakhs and <= 50 Lakhs: Rs. 4,500
For Loan amount > Rs. 50 Lakhs: Rs. 6,000
|Documentation Fees (Only for disbursed cases)||Loan Amount <= Rs. 25 lakhs: Rs. 1,500|
Loan Amount > Rs. 25 Lakhs: Rs. 3,000
|Stamp Fees and Charges (if applicable)||Rates applicable according to state laws. In-house stamping service charges are 5% of stamp rate|
|Conversion Fee||Up to or less than 0.5% of the outstanding principal amount|
|Cheque / ECS / DDM/NACH bounce charges||Rs. 300|
|Delayed EMI Payment Interest ( per month of delay, every month)||2% of overdue EMI per month, calculated on a daily basis|
|Swap charges for any repayment modification||Rs. 600 per swap instance|
|CERSAI Charges (Non-Refundable)||Loans up to Rs. 5 Lakhs (for original filing and modification): 110|
Loans above Rs. 5 Lakhs (for original filing and modification): 210
|Prepayment Charges (in part or full)||Individual Borrowers (Primary and co-borrowers) under floating rate of Interest: No prepayment charges for partial/full prepayment|
For Others: Up to 7% of the prepaid loan amount
|Part disbursal/ per tranche fee||Rs. 600|
|Duplicate Statement of Account/Loan Agreement/NOC||Rs. 300|
|Charges for a copy of original title deeds of Property||Rs. 1000|
|Collection of Cheque/Cash (per collection)||Rs. 500|
*Good and Services Tax as applicable will be levied over and the above the mentioned charges.
Fullerton Grihashakti Home Loan EMI Calculator
Fullerton India Home Loan EMI Calculator helps users know the approximate value of the loan instalments that they need to pay monthly for servicing their home loans. Fullerton India home loan EMI calculator is an online tool, which is also available at Paisabazaar.com. It is easy to use and provides quick results. Click to calculate your EMI.
Fullerton India Home Loan EMI Calculation
The table below shows Fullerton India home loan EMI calculation for different interest rates, loan amounts and loan tenures.
|Loan Amount||Interest Rate||EMIs as per Different Loan Tenures|
|10 years||20 years||30 years|
|Rs. 30 lakh||8.99%||Rs. 37,986||Rs. 26,972||Rs. 24,117|
|Rs. 60 lakh||9.20%||Rs. 76,656||Rs. 54,758||Rs. 49,143|
|Rs. 90 lakh||9.50%||Rs. 1,16,458||Rs. 83,892||Rs. 75,677|
|Rs. 1 crore||10.20%||Rs. 1,33,261||Rs. 97,831||Rs. 89,239|
In the table above, one can notice that home loan EMIs decrease as the loan tenure increases. While choosing a longer tenure reduces your monthly liability but it also increases your total interest payout. Hence, choose your home loan tenure wisely.
Fullerton India Home Loan Eligibility Criteria
Mentioned below is the eligibility criteria to avail home loan from Fullerton India.
|Eligible Profiles||● Salaried:|
Multinational Cos, Listed Public Ltd Cos, Govt.organizations Private Ltd Cos, Closely Held or Unlisted Companies, Partnerships, Proprietorship Firms
● Self Employed Individual:
Businessmen, Sole Proprietorship
● Self Employed Professional:
Doctors, architect’s, CA Partnership Firms Private Limited Companies, Closely Held, Unlisted Companies
Maximum: 65 years
To know whether you qualify for a Fullerton India home loan, use the Home Loan Eligibility Calculator. It is an online tool that helps you to know the loan amount you are eligible to borrow. The calculation is done on the basis of a few basic details like gross monthly income, loan tenure, loan interest rate and on-going loan payments.
Check Also: Home loan Eligibility Calculator
Fullerton India Home Loan Documents Required
Following are the documents required to successfully apply for Fullerton India Home Loan.
|Salaried Individuals||Self Employed Individuals|
|Duly filled in and signed the application form with photographs||Duly filled in and signed application form with photographs|
|Identity, address and age proof||Identity, address and age proof|
|Salary slip of last 3 months||ITR and financial statements, including balance sheet, profit & loss account, schedules. (documents must be certified by a CA)|
|Bank statement of the past 6 months||Bank statement of the past 12 months|
|Form-16 and Income Tax Returns (ITR) details||For partnership firms: Latest partnership deed|
For companies: Latest Memorandum and Articles of Association (CA certificate on profit sharing ratio/list of directors/shareholding partnership)
For Limited Liability Partnership: LLP Agreement
|Title documents of the property||Title document of the property along with business address proof|
Fullerton Grihashakti Home Loan Schemes
Fullerton India offers customized home loan schemes to meet the needs of customers. Mentioned below are the schemes on offer.
1. Loan for Buying a New/Resale Home
This is a regular home loan scheme that is available to all the eligible salaried individuals who need financial support to buy a new/resale house. Balance Transfer facility is also available to home loan customers who wish to move their existing home loan account from another bank/HFC to Fullerton.
2. Home Construction Loan
This home loan scheme is available to all the eligible salaried and self-employed individuals who need financial support for constructing a home on their owned plot. [Read Also: Home Construction Loan]
3. Home Improvement Loan
This scheme is available to customers looking for funds to renovate or repair their existing house.
4. Home Extension Loan
This scheme is suitable for customers who wish to extend or add additional space to their homes. The scheme is available to both new and existing customers.[Read Also: Home Extension Loan]
5. Pradhan Mantri Awas Yojana (PMAY)
It is a government scheme launched to provide housing to all urban and rural poor across India. Under the scheme, the government offers interest subsidy of up to Rs. 2.67 lakh on home loans availed for buying, constructing, extending or renovating homes. Fullerton India extends affordable housing benefits of Pradhan Mantri Awas Yojana Credit Linked Subsidy Scheme (PMAY CLSS) to all the customers eligible for this scheme. Click to learn more about PM Awas Yojana.
Apply for Fullerton India Home Loan on Paisabazaar.com
Customers can apply online for Fullerton India Home Loan through Paisabazaar.com by simply following the below-mentioned steps.
- Follow the link: https://www.paisabazaar.com/home-loan
- Fill the form by providing relevant details like the loan amount, city of the property, tenure, etc.
- On filling all the required details, click on the ‘Proceed’ button
Soon, a representative from Paisabazaar will contact you on the provided contact number to process your application.
Fullerton India Home Loan Customer Care Details
Customers can reach out to Fullerton India on the below-mentioned contact number to get their home loan-related queries addressed.
- 1800 102 1003
- Email at email@example.com
Q1. Is a guarantor required to avail the home loan?
Yes. A co-applicant or guarantor is mandatory for availing a home loan.
Q2. Who all are eligible to avail a Balance transfer loan?
Any borrower who has an existing home loan account with another bank/HFC, having a regular payment track of 12 months, can avail a balance transfer loan.
Q3. Are there any tax benefits available to home loan customers?
Yes. You are eligible for tax benefits on the principal and interest components of your loan under the Income Tax Act, 1961.
Q4. How do I repay the loan?
The repayment of home loan has to be done through ECS (Electronic Clearing Service) or PDCs (Post Dated Cheques)