Apply for Best Personal Loan Offers!Fullerton India Personal Loan Highlights – Jan 2022 | |
| Interest rate | 11.99%-36.00% p.a. |
| Loan Amount | Up to Rs 30 lakh |
| Tenure | Up to 5 years |
| Processing Fees | Between 0%-6% of the loan amount |
| Prepayment Charges | 0%-7% |
Table of Contents :
Fullerton India Personal Loan Interest Rates
| Regular Personal Loan | 11.99%-36.00% p.a. |
| Instant Personal Loan | 11.99%-23.99% p.a. |
The NBFC offers personal loans to salaried and self-employed professionals. The interest rate decided by the lender depends on various factors, such as your credit score, net income, employment type and repayment capability.
Comparison of Fullerton India PL vs Other Lenders
The following is a comparison between Fullerton India and other leading personal loan providers in India.
| Banks/NBFCs | Interest Rates (per annum) |
| Fullerton India | 11.99% onwards |
| HDFC Bank | 10.25% – 21% |
| SBI | 9.60% – 13.85% |
| PNB | 7.90% – 14.50% |
| ICICI Bank | 10.50% – 19% |
| Axis Bank | 10.25% p.a. onwards |
| Kotak Mahindra Bank | 10.25% onwards |
| IndusInd Bank | 11.00% onwards |
| IDFC First Bank | 10.49% – 23% |
| Bajaj Finserv | 13.00% onwards |
| Tata Capital | 10.99% onwards |
Fees & Charges
| Fee Type | Charges |
| Delayed EMI | As stated under additional interest charge |
| Cash/Cheque Collection | NIL |
| Loan Cancellation Charges | Rs 5,000 |
| Processing Fees | 0%-6% of the loan amount |
| Cheque/ECS/NACH dishonoured charges | Rs 300 |
| Swap charges for replacement of ECS to ECS | Rs 500 |
| Swap charges for replacement of Post-dated cheques to ECS | Rs 500 |
Types of Fullerton India Personal Loan
For Elite Applicants
- Purpose: To meet the personal needs of applicants with minimum monthly income of Rs 75,000 and CIBIL score of at least 750
- Loan Amount: Rs 8 lakh- 25 lakh
- Tenure: Up to 5 years
- Processing Fee: Up to 3% of loan amount
- Disbursal Time: Up to 72 hours of approval
For Salaried
- Purpose: To meet the personal requirements of salaried applicants
- Loan Amount: Up to Rs 25 lakh
- Tenure: Up to 5 years
- Processing Fee: 0%-6% of the loan amount
Also Know: Which Banks/NBFCs in India provide personal loans for salaried?
For Self-employed
- Purpose: To meet the personal requirements of self-employed applicants
- Loan Amount: Up to Rs 10 lakh
- Tenure: Up to 5 years
- Processing Fee: 0%-6% of the loan amount
For Doctors
- Purpose: For consultants and practicing professionals working in a private or government hospitals or clinics
- Loan Amount: Up to Rs 30 lakh
- Tenure: 1-5 years
- Processing Fee: Up to 3% of loan amount
- Disbursal Time: Up to 72 hours of approval
For Wedding
- Purpose: To meet the financial requirements for wedding
- Loan Amount: Up to Rs 25 lakh
- Tenure: 1-5 years
- Processing Fee: Up to 3% of loan amount
- Disbursal Time: Up to 72 hours of approval
Also Read: What should I know before taking out a wedding loan?
Personal Loan For Home Improvement
- Purpose: For home renovation such as expanding the living space or making some other improvements to the house
- Loan Amount: Up to Rs 25 lakh
- LTV Ratio: Up to 90%
- Tenure: Up to 5 years
- Processing Fee: Up to 3% of loan amount
- Disbursal Time: Up to 72 hours of approval
For Holiday
- Purpose: To meet the financial needs of travel/vacation including airfares, hotel fees, purchasing travel and other accessories, and funding a tour package
- Loan Amount: Up to Rs 25 lakh
- Tenure: 1-5 years
- Processing Fee: Up to 3% of loan amount
- Disbursal Time: Up to 72 hours of approval
For Women
- Purpose: To fulfill the personal requirements of women and help them achieve financial freedom
- Disbursal Time: Up to 72 hours of approval
Personal Loan for Medical Emergency
- Purpose: To meet the financial requirements during a medical emergency
- Loan Amount: Up to Rs 25 lakh
- Tenure: Up to 5 years
- Processing Fee: Up to 3% of loan amount
- Disbursal Time: Up to 24 hours of approval
Eligibility Criteria for Fullerton India Personal Loan
The following is the eligibility criteria for a Fullerton personal loan:
- Profession:
- Salaried employee of a Public Sector Undertaking or a Private Limited Company,
- Self-employed with the turnover according to the current policy
- Minimum Monthly Income:
- For Salaried: Rs 25,000 for people living in Mumbai/Delhi
- Rs 20,000 for the rest of India
- For Self-employed: minimum yearly profit after tax deduction based on profession/industry
- For Salaried: Rs 25,000 for people living in Mumbai/Delhi
- Work Experience: At least 1 year
- Experience in Current Company: Minimum 6 months
- CIBIL Score: 750 or above
- Maximum EMI as a percent of income: 65.00%
Documentation Required for Loan Application
- ID Proof such as passport, PAN Card, voter ID, driving license
- Signature Proof (passport, PAN card)
- PAN Card
- Address Proof such as ration card, passport, utility bill (gas/electricity bill), driving license, voter ID, bank statement, rent agreement)
- Bank statement for 6 months
Additional Documents for Salaried Applicants
- ITR/Form 16
- Salary slips for last 3 months
Additional Documents for Self-Employed Applicants
- ITR for last 2 years
- Balance sheet and profit and loss account, income computation for last 2 years
- Business Proof (registration certificate, license, service tax registration)
- IT Assessment or clearance certificate
- Income Tax Challan or TDS certificate (Form 16A) or Form 26AS for income declared in ITR
Fullerton India Personal Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Customer Care
The customer care department of Fullerton India can be reached via the following methods:
- Toll-Free Number: 1800-103-6001 on Monday to Saturday from 9 pm to 7 pm
- By Post: Fullerton India Credit Co. Ltd. Address: P.O. Box No. 8108 Bandra East, Mumbai, 400051
- By Email: You can send an email at namaste@fullertonindia.com
- ChatBot: You can visit the official website and interact with us vis DiA in case of any queries
FAQs
Q. How is my interest rate decided by Fullerton India?
The interest rate offered by Fullerton India is influenced by various factors like credit score, age, repayment history, loan amount, etc.
Q. Can I foreclose my personal loan?
Yes, you can foreclose your Fullerton India personal loan any time after paying the 6th EMI along with the applicable foreclosure charges.
Q. Who is eligible to apply for a Fullerton India personal loan?
Salaried, as well as self-employed individuals/professionals, can avail personal loan from Fullerton India. This is however subject to meeting some other eligibility criteria such as age, income level, etc.
Q. What is the maximum Fullerton India personal loan amount that I can avail?
A person can avail a loan amount of up to Rs. 25 lakh. The maximum personal loan amount that can be offered to an individual depends upon his income, credit score, repayment history, etc.
Q. What is the maximum and minimum loan tenure I can avail?
The borrower can repay the Fullerton personal loan for up to 12 months to 60 months.
Q. Am I eligible for Personal Loan for Elite customers?
If your monthly income is more than Rs. 75,000, you can apply for Personal Loan for Elite customers.
Q. What is the turn-around time for a personal loan from Fullerton India?
Typically Fullerton India issues conditional approval of personal loan applications within 72 hours of receiving the application. However, the actual turn-around-time may vary based on various criteria such as loan amount, location of the borrower, loan tenure, etc.