Fullerton Personal Loan
Headquartered in Mumbai, Maharashtra, Fullerton India Credit Company Limited is a non-banking financial institution in India which is dedicated towards providing best financial services to the under-banked section in the country. Besides providing financial services, this organization specifically targets to cater required skills and services to under-developed communities in order to make their economic position better with improved quality of living. Fullerton also lends its financial help to people who live in urban areas.
Documents Required to Apply for Fullerton Personal Loan
Fullerton ensures fast processing of the loan application and disbursal of the amount to the applicant’s account without any time-taking complex documentation procedure. The company only needs a few basic documents to authenticate the identity and credibility of the borrower. The process is very clear and transparent and once after authentication, the amount is directly credited to the borrower’s account within 48 hours. Here are the documents that you need to submit while applying for the loan:
Both Salaried and Self-Employed Applicants
- Properly filled up application form with all the correct details.
- Recent photographs of the applicant along with the form.
- Processing Fee Cheque.
Identity Proof
- Copy of any one of the documents- Voter ID card, PAN card, Driving License or Passport.
Address Proof
- Copy of any one of these documents– Telephone Bill, Electricity Bill, Ration Card. Rental Agreement, Passport, Driving License, Bank Statement or Passbook.
Age Proof
Copy of any one of these documents- Passport, PAN Card or certificates from statutory authority.
Income Proof
For Salaried Individuals
- Form 16.
- Salary slips of last 3 months.
- Last 6 months bank passbook or bank statement.
- Last 3 years ITR or Income Tax Returns.
For Self-Employed Individuals
- Documents proving existence of the business.
- Last 3 years balance sheet.
- Last 6 months bank passbook or bank statement.
- Last three years profit and loss statement.
- CA certified last 3 years Income Tax Returns or ITR for business and self.
Fullerton Personal Loan Eligibility Criteria
One of the main attractions of Fullerton India is that they offer personal loans with very flexible eligibility criteria. Fullerton India offers personal loan for both salaried as well as self-employed individuals. If you are a salaried individual with a minimum of Rs.12,500 as fixed monthly salary, you are eligible for a Fullerton India personal loan. For self-employed individuals (both professionals as well as non-professionals), the minimum income criteria to avail Fullerton India personal loan is Rs.15,000 per month.
The company also mentions a criteria based on the age of the applicants. The minimum age for applying for Fullerton Personal Loan is 21 years, whereas, the maximum age limit is 60 years. This means, if you are 58 years old and are looking to apply for a Fullerton India Personal Loan, you will get the loan sanctioned for maximum tenure of 2 years (i.e., till you reach 60 years of age).
| Eligibility Criteria | ||
| Particulars | Salaried | Self-Employed/ Working Professionals |
| Age | 21- 65 years | 21-60 years |
| Minimum Income | Rs.12,500 and above | Rs.15,000 and above |
| Total Experience in Job/Profession | 3 years | 2 years |
| Current Experience | 6 months and above | |
| Years of Stay in Current Residence | 1 year | 1 year |
Fullerton Personal Loan Amount Offered to Borrowers
Fullerton India offers high loan amount to both men and women borrowers in a quest to help them resolve their financial requirements with ease. The loan amount starts from minimum Rs.65 and goes up to Rs.20 lakh.
| Loan Amount Offered | ||
| Men | Women | |
| Minimum Amount |
|
|
| Maximum Amount | Rs.20 lakh | Rs.10 lakh |
Fullerton Personal Loan for Women Borrowers
Women borrowers can avail high loan amount from Fullerton at special interest rates. Applicants just need to meet the eligibility criteria put forward by the bank to apply for the loan. Since women applicants are eligible to get loan at special interest rates, it has become easier for them to opt for a loan as and when required. Here are the particulars of personal loan for women customers.
- Women residing in Urban, Semi Urban and Metropolitan areas are eligible for the loan.
- Female applicants are offered loans at an interest rate that is 2.00% lower than the applicable base interest rates.
- The maximum loan amount that can be applied for is up to Rs.10 lakh.
- The borrowers can take the loan for extended repayment period of up to 5 years or 60 months.
Why Choose Fullerton India Personal Loan?
Fullerton India offers a number of benefits to its customers which make it stand out from the rest. From offering high loan amount in low interest rates for flexible tenures to special customized offers for the borrowers, this institution tries to help people in the best possible way. Here are some of the reasons why you should choose this company above others:
High Quantum of Loan: Fullerton India offers a high quantum of personal loan for all the eligible borrowers. The maximum quantum of Personal Loan offered by Fullerton India is Rs.20 Lakhs for salaried individuals and Rs.30 Lakhs for self-employed individuals. The maximum personal loan available to applicants at Fullerton India is one of highest quanta compared to other non-banking financial companies or public sector banks in its class.
Competitive Interest Rates: Fullerton India offers personal loans at competitive interest rates with a monthly reducing balance basis, thereby ensuring maximum benefit to the loan borrower.
Easy Accessibility: With a large number of active branches in both urban and rural regions, Fullerton India makes sure that there is a loan centre easily accessible for citizens living in urban, semi urban and rural centres.
Easy Loan Application Process: Fullerton India personal loans are easy to apply for with an online loan application process allowing for easy loan requests with minimal documentation and quick loan disbursal timeline.
Special Benefits for Existing Customers: Fullerton India offers a series of special offers for their existing clients for pre-approved personal loans. Since a large number of people are associated with Fullerton India either using their commercial loan schemes, rural financing schemes or other financial products, they receive offers from time to time about pre-approved personal loans as per their financial history.
Instant Approval: Personal loan applicants need not visit the Fullerton India branch physically and can simply apply for a personal loan online which will be approved within four working days for eligible applicants.
Seasonal Offers: Fullerton India offers attractive seasonal discounts in interest rates and processing fees during festival season and from time to time.
Features of Fullerton Personal Loan
Fullerton India offers a number of benefits and features for its personal loans including low interest rates, minimal documentation and quick approval. Some of the major features of Fullerton India personal loan which makes it the best option to go for are listed out here:
Quick Loan Approval: Fullerton India offers one of the fastest loan disbursal rates compared to other non-banking financial companies. For pre-approved customers, personal loans can be disbursed in one working day, while for new customers, personal loans are approved and disbursed within a stipulated timeline extending to a maximum period of four working days.
Low Interest Rates: Fullerton India offers competitive interest rates for its personal loan applicants. Since a large number of Fullerton India clients come from smaller centres and semi-urban centres, Fullerton India understands the importance of keeping interest rates low, offering maximum benefits to the clients.
Part Prepayment Facility: Fullerton India allows part-prepayment facility for all its personal loans after a minimum period of six months. Fullerton India does not charge any prepayment charges for all personal loans that are prepaid after 36 months from the agreement date.
Online Loan Application Facility: Users willing to seek a personal loan with Fullerton India need not visit the branch and can apply for a personal loan online. Such a facility not only saves time and offers convenience to the loan applicant, it also reduces the loan approval and disbursal time, leading to a win-win situation for both the customer and the company.
Dedicated Customer Support: This Company has a 24/ customer support helpline, allowing the users access to complete information through both phone and email communication.
Fullerton India Personal Loan Interest Rates
Interest rates for personal loans vary from bank to bank. Fullerton Personal Loans come with affordable interest rates, making it a viable option for all sections of people. It offers personal loans at fixed rates on the basis of monthly reducing balance. The personal loans not only are available at lowest interest rates but also come with flexible EMI facility with extended loan tenure of 5 years. The other rates and charges are also kept nominal by the company for the ease of the customers. Since high clarity and transparency is maintained by Fullerton there are no hidden charges.
The rates charged by Fullerton India Personal Loan usually vary from 11.99% to a maximum of 23.99% per annum. Each loan offered by Fullerton India is tailor-made, depending on your profile and eligibility criteria. Therefore, the interest rate availed by your friend may be different from that of yours, depending upon your monthly income and nature of work.
| Interest Rates and Charges | |
| Interest Rate (Monthly reducing balance) | 11.99% p.a. to 23.99% p.a. |
| Processing Fees | 1.5% to 6% of the loan amount |
| Loan Repayment Tenure | 12 to 60 months |
| Pre-closure Charges | Up to 1 month- 7% of the outstanding principal + ST For 18-23 months- 5% of the outstanding principal +ST From 24-35 months- 3% of the outstanding principal + ST After 3 years- No pre-closure charges applicable |
| Guarantor or Collateral Requirement | No |
Fullerton India Personal Loan Customer Care Details
- Toll-free number – Applicants can easily get in touch with Fullerton customer support executives on the toll-free number 1800 103 6001.
- Email- Fullerton customers can contact the customer care representatives regarding any query or confusion by sending email to namaste@fullertonindia.com
- Advanced support- Individuals who are not satisfied with the solution can write to Complaints Management Cell at ccrc@fullertonindia.com In the third step, a customer can directly contact the Grievance Redressal Officer at escalation@fullertonindia.com
