Fullerton India personal loans offer a quick and easy way to secure the finance you need to meet those large obligatory expenses that arise in our lives like weddings or family vacations, and even those that take us by surprise like emergency hospitalizations. Personal loans from Fullerton India are totally unsecured, needing absolutely no collateral or guarantor, and offer unmatched flexibility in terms of what the loan can be used for. They have a quick loan application and approval process, and offer excellent repayment terms and interest rates.
Eligibility for Salaried and Self-employed Applicants
Particulars
Salaried
Self-Employed
Age(Min-Max)
21 – 58 years
21 – 60 years
Minimum Income
Taxable income.
Taxable revenue turnover for both individual and business.
Co-applicant
Not required
Not required
Loan Tenure
12 – 48 months
12 – 48 months
Maximum Loan Amount
Rs.20 lakh
Rs.30 lakh
Employment/Business Continuity
3 years of continued employment.
3 years of continued business with taxable returns.
Factors affecting Eligibility of Fullerton India Personal Loans
The primary factor that affects a borrower’s eligibility is his/her ability to repay the loan. Lenders judge this through a variety of parameters, like:
City of residence. From the point of view of the lender, personal loans are more easy to approve in cities like Bangalore, Delhi, Chennai, Mumbai, Kolkata, etc.
Income. Lenders don’t approve loans whose EMIs will be more than 50% of your take home salary, per month. The more you earn, the more you’ll be able to pay back in the form of EMIs.
Your age. If you’re too young, you’re a risky candidate as young salaried people shift jobs often to exploit opportunities. Older applicants between the ages of 26 – 40 who’ve been working steadily for a few years are more eligible, as they’re more stable.
Duration of stay in current location. The longer you’ve been living in a certain place, the higher are the chances of getting a personal loan approved on your terms. Fullerton India will give more preference to applicants who’ve lived in the city for over 2 years, even though the minimum criteria for eligibility is 1 year.
Employment status. Simply having a job doesn’t make one eligible for a loan from Fullerton India. Having a few years of work experience from the same employer shows stability and reliability, increasing your eligibility.
Residence type. Applicants who live in a residence that’s owned by them are more likely to get a loan approved, and on better terms. This is because there’s no part of their income being spent on rent. People living in rented houses must pay an amount of their salary as rent, lowering the disposable income left over to pay EMIs. Also, it’s easier for a person living in a rented place to abscond in case they feel they cannot keep up with EMI payments.
Type of employment: Salaried professionals and employees get regular incomes on fixed dates and can have EMIs due deducted directly from their salary accounts. Self-employed people must rely on market conditions and the demand for their products in order to earn an income. This is an inconsistent income that may sometimes not even be enough to meet the EMI payment requirement.
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How CIBIL score affects your Fullerton India Personal Loan Eligibility?
While a CIBIL score of over 750 will make you eligible for a Fullerton India personal loan, scores closer to 900 will help increase eligibility, as this score is a direct representation of your creditworthiness.
In the past, if you’ve been unable to repay your loan and have arranged for a settlement with the bank, it will considerably reduce your eligibility.
Your previous loan and credit card repayment history will also play an important role in instilling confidence in Fullerton India that you can and will repay your personal loan. A ratio that shows you’ve taken more secured loans than unsecured loans works in your favor.
How to increase Fullerton India Personal Loan Eligibility?
Maintain a good mix of secured and unsecured loans. Secured loans are looked at more favourably.
Lower EMIs on existing loans. Taking loans for longer tenures reduces the EMIs paid monthly, thus showing that you have more funds to pay back your Fullerton India personal loan with.
Prepayment. Paying off your existing loans before taking a new one is highly advised. A lump sum prepayment will settle your existing loan, increasing your eligibility for your new Fullerton India personal loan
Don’t over-leverage yourself. Overleveraging is when you take on more loans than you can repay. If you have 2 – 3 EMIs being deducted from your account, Fullerton India will not help you to add one more, until you’ve finished honoring all your payments.
Maintain a clean credit history. Ensure that you always clear your debt, on time and on the terms you’ve agreed on with the lender. This increases your CIBIL score, and eligibility.
I took personal loan with FULLERTON previously, now i have close this loan successfully,as i experience was not good, their service is not up to the mark,the loan was sufficient,but the rate of interest was too high comparing to banking sector interest rate , and the processing fee was nominal.
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0
VENKATARAMANA BHAT B G
, bangalore
Reviewed on Mar 15, 2019
I got my personal loan in FULLERTON during my emergency situation . They took 10 days for sanctioning the amount with more 15 % ROI . Tenure period is 5 years . Not get the proper customer response in-between the time . Overall it is little disappointed.
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1
WINFRED ABRAHAM
, coimbatore
Reviewed on Mar 09, 2019
I had taken this loan a long time back and the process in getting this loan was fine. But the loan amount was a little less than expected and the interest rate with them has been pretty high than the market rate. Their customer support has always been responsive and has been helpful at times.
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1
SHANKER LAL SHRIMALI
, chennai
Reviewed on Mar 04, 2019
I took one emergency loan in Fullerton for 36 months of period . they charged me with high rate of interest almost 20 % . Preprocessing fees were also too high . Private banking charging too high amount of time . within 3 days my loan amount was sanctioned for me .Pre closure charge is there almost 5 %
Fullerton gave me the 28% of interest rate duration for the amount of five years, the loan amount was around Rs. 2.11 lakhs, the process was easy, concern about the interest, they should reduce the percentage as per the market. But the customer satisfactory is not good.
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4
HARISHKUMAR NATHURAM GOSWAMI
, ahmedabad
Reviewed on Feb 15, 2019
I have applied the personal loan with the FULLERTON and i am using it since from last 15-16 months and the duration for repaying the loan is for 48 months. The documentation process is simple and easy to get the loan. The rate of interest is higher when compared to the others.
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1
VIRAL SATISHBHAI PATEL
, ahmedabad
Reviewed on Feb 13, 2019
My experience was good with Fullerton for personal loan, i did balance transfer to other bank because the rate of interest was very high when compared to others. Customer service was good and they responded on time. Loan amount is Rs 2 lacs with tenure period of 4 years.
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1
K S RAMESHA RAMESHA
, bangalore
Reviewed on Feb 11, 2019
The experience i had with them has not been that great where the interest rate with them has been very high when compared with the market rate. The charges which they had made has been very high when compared with the other banks and their customer support has not been that much responsive.
I have took my personal loan with Fullonton india recently, it have been just 1 year, and the loan amount they have given was sufficient, they have charged me too high rate of interest compare to other bank, like they have charged me up to 14.5% it too high, and the processing fee they have charged me was nominal. Their customer support was helpful but their reporting team is not good, like they do not response well , if i do any delay in paying loan then they not properly response to me.
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5
MIRAJ SUDARSAN BISWAL
, mumbai
Reviewed on Jan 26, 2019
I had taken this loan almost 4 years back and the experience was quite good. The loan amount has been sufficient but the interest rate with them has been a little high where i am not satisfied. There was no additional charges. Overall it has been normal service
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5
RAJESH ANKUSH GHODKE
, mumbai
Reviewed on Jan 19, 2019
I have taken a personal loan with Fullerton and my experience was good, the loan amount was sufficient and the rate of interest was high when compared to others. Customer service was good and they responded on time. Tenure period for this loan is for 4 years.
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3
RAJEN KUMAR MAHATA
, kolkata
Reviewed on Jan 17, 2019
The experience with this Personal loan has been quite good and the process went pretty smooth. The loan amount has been sufficient and the interest rate with them has been nominal as well. There has been some processing fee which they had charges and it has been nominal.
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2
SAI KIRAN BURUGU
, hyderabad
Reviewed on Jan 10, 2019
I have been using my personal loan with Fullerton ,the loan amount was sufficient they have given me, but they have charged too high rate of interest and even processing fee was high , compare to government bank they are charging too high charges, and now i have close this loan successfully.
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3
TARUN CHHOWKAR
, ghaziabad
Reviewed on Jan 08, 2019
The experience with this loan has been quite good and the process has been quite simple. The loan amount has been sufficient and the interest rate with them has also been nominal when compared with the market rate. There has been some processing fee and other than that there has not been any other charges.
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3
MOHIT AGARWAL
, jamshedpur
Reviewed on Dec 20, 2018
I was looking for a loan and with the help of On-line sources i applied for it. My application was taken care and there was no delay. But the interest rates which i have on my loan amount is bit high i feel. Its somewhere around 15% and thats really high. If the interest rates comes down a bit it will be a great help.
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6
GANESH KUMAR KONIKA
, hyderabad
Reviewed on Dec 15, 2018
I got my loan on time. According to my eligibility, i have got the loan from Fullerton. They have offered me a loan amount of Rs. 2.2 lakhs. I have got the interest rate of 21% which is very high and the processing fee was between 12000 to 16000. I have chosen the tenure period of 5 years. The service provided by Fullerton is really good.
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3
DEBAJYOTI BORAH
, guwahati
Reviewed on Dec 12, 2018
The experience i had with this Personal loan has not been good since the interest rate with them has been around 22% which was quite high. There has been some extra charges which they had made once. But the loan amount which they had provided has been sufficient.
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2
NAMBIRAJAN ESAKI MUTHU
, chennai
Reviewed on Dec 11, 2018
It has been a good experience i had with this loan and the loan amount which they had provided has been sufficient as well. But the interest rate with them has been a little high when compared with the market rate and there has been some charges with them which is high as well as they charged with the processing fee as well.
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3
ANIL HARISHCHANDRA MARCHANDE
, thane
Reviewed on Dec 11, 2018
The process is fine with Fullerton and the personal loan was provided on a stipulated time. It was as needed too. The processing fee was around 9K initially and finally I was charged around 26K. I received a message for it too. The rate of interest is around 17%.
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2
MANAS RANJAN PATRA
, rourkela
Reviewed on Dec 11, 2018
They have offered me a huge rate of Interest which is 20%. I have applied the loan amount of Rs. 1.70 lakhs and they have given me the same amount. Processing fee were 3% and its very high. I have paid the EMI of Rs. 5288 and the tenure period is 48 months.
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1
VENKATESH MANDALA
, hyderabad
Reviewed on Dec 11, 2018
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