You may find that there are some things you need to know about Fullerton loans before you apply for one. Among these things are the eligibility criteria and the benefits.
Fullerton loan in India is a short-term, unsecured, debt-based loan. It’s one of the quickest ways to cover unexpected expenses. But, like any other loan, eligibility requirements depend on a variety of factors. You need to be careful in choosing a lender, and make sure you can pay back the loan in full by the end of its term.
The CIBIL score is an important component of your application. A higher score means better chances of approval. As a rule of thumb, a score of 750 or more is considered excellent. However, your chances are impacted by other factors, such as your employment, age, and credit history.
If you have a solid work history and have been employed for at least a month, you may qualify for a Fullerton personal loan. This includes employees working for a government agency, as well as people in the private sector.
One of the main benefits of this type of loan is that you can pay off the entire balance, rather than paying the interest on the principal. In fact, the lender will even offer you the option to prepay the loan, provided you meet a few criteria.
To apply for a Fullerton Loan, you need to log in to their website. Once you’re logged in, you can access their loan calculator, which is a free online tool to determine your eligibility. Using the calculator, you can figure out how much you can borrow and how much your monthly EMIs will be.
Once you’ve determined your eligibility, it’s time to fill out the required documents. After uploading them, a representative from Fullerton Loans will review your application and send a loan agreement kit for your signature.
Fullerton India is one of the largest private banks in India. It offers a wide range of loans against property. These loans are offered for both residential and commercial use. The interest rates are competitive and affordable.
The loan against property is suitable for both salaried and self-employed professionals. If you are self-employed, you will need to provide proof of income. Also, you will have to provide your bank statement for the last six months.
You can also apply for a top-up loan. This allows you to change the amount and rate of interest. When you are a new customer, you can get the loan within four working days.
Loan Against Property (LAP) from Fullerton India is suitable for individuals and businesses. This type of loan is a good way to increase your income.
Self-employed individuals can avail a personal loan with a minimum EMI of twelve to eighteen months. Applicants must be Indian citizens and have an income of at least Rs.12,800. They must have a credit score of at least 650.
Applicants must fill in an online application form and upload collateral. Afterwards, the loan can be processed in no time.
The loan amount can be up to five crore. A processing fee of 1% will be applicable on the loan amount. Moreover, there are no hidden charges.
Fullerton India provides an overdraft facility as well. This allows borrowers to draw on the funds they need without any hassle.
Fullerton India loan against property is available in Mumbai, Chennai, Bangalore, Kolkata and Pune. This loan is ideal for businessmen who want to expand their operations.
Fullerton offers loan against property to both residential and commercial properties. In addition, it has a wide network of over six hundred branches.
The part-prepayment facility on Fullerton loans in India offers a great benefit to customers. Those who have an outstanding balance can pre-pay the loan to save interest. It also gives the advantage of reducing monthly EMIs.
Prepayment of your loan can be done by visiting a nearby Fullerton India branch or by using the Net Baning option on the website. You will need to fill out a request form, submit necessary documents and sign the agreement. If you are approved, your loan amount will be credited to your bank account in just four hours.
When deciding whether to pay off your debt earlier or at a later date, it is important to understand how preclosure, prepayment and part-payment work. Using an EMI calculator can help you make an informed decision.
Whether you opt for a Fullerton loan against property or an individual loan, the key is to ensure that you meet all the eligibility criteria. This will give you the advantage of a low EMI, flexible repayment options and easy documentation.
The interest rate on Fullerton loans in India varies depending on the age, income and other criteria. However, the interest rate for loans between Rs. 50,000 and Rs. 50 lakh ranges between 14% and 25%. In addition, there are special rates for customers who already hold a Fullerton personal loan account.
A good CIBIL score is a crucial factor in getting a loan. You can increase your CIBIL score by making timely payments.
Fullerton India has a wide network of branches and customers from different regions of the country. Their customer support team provides 24 hour support. Customers can speak directly to the staff members, thus avoiding the hassle of e-mails.
For businesses, there are many reasons to use a Fullerton loan in India. They offer business loans at attractive rates and flexible tenures. The lending process is simple. Whether you need to expand or refinance your business, there is a Fullerton business loan to suit your needs.
A business loan from Fullerton is a great way to improve cash flow. You can make prepayments at any time during the term. And, you can also transfer your loan to another bank at a lower rate of interest.
In fact, Fullerton offers loans against both residential and commercial properties. It also provides an overdraft facility. There are no hidden costs or penalties. If you have a good credit history, you can borrow a maximum of 50 lakh rupees.
The eligibility calculator on the Fullerton website is a great way to find out what you are eligible for. To apply, you need to fill an online application form. The website will ask you to provide details about yourself and your company. Once you fill in the required information, you can see a list of offers available for you.
In addition to business loans, Fullerton also provides personal and unsecured loans. These loans are based on your income and CIBIL score. Applicants can get loans from 12 to 48 months.
To apply for a personal loan, you will need to provide your CIBIL score, your mobile number, and your bank statements. You can also use the Instaloan app to apply from home.
To find the best Fullerton loan for you, you should consider several factors. Most of these depend on your unique situation. But, there are some that you should consider as a general rule.
Applying does NOT affect your credit score!
No credit check to apply.