|Fullerton Personal Loan Interest Rates 2018|
|Interest rate||20% p.a. to 49% p.a.||20% p.a. to 49% p.a.|
|Loan Amount||Maximum: Rs.20 lakh||Maximum: Rs.30 lakh|
|Loan Tenure||Minimum: 12 months Maximum: 48 months||Minimum: 12 months Maximum: 48 months|
|Processing Fee||Up to 6.5% of the loan amount||Up to 6.5% of the loan amount|
|Age||Minimum: 21 years Maximum: NA||Minimum: 21 years Maximum: NA|
|Prepayment/Foreclosure Charges||Within 6 months from the Agreement Date: 7.00% From 7 months to 17 months from the Agreement Date: 7.00% From 18 months to 23 months from the Agreement Date: 5.00% From 24 months to 35 months from the Agreement Date: 3.00% After 36 months from the Agreement Date: No charge||? Within 6 months from the Agreement Date: 7.00% From 7 months to 17 months from the Agreement Date: 7.00% From 18 months to 23 months from the Agreement Date: 5.00% From 24 months to 35 months from the Agreement Date: 3.00% After 36 months from the Agreement Date: No charge|
From renovating your home and going on a vacation abroad to buying gadgets and planning a wedding, personal loans offered by Fullerton can help you fulfil your dreams. You can acquire a personal loan by simple documentation and hassle-free processing offered by Fullerton. You can choose a loan tenure from 1 to 4 years and avail of attractive personal loan interest rates. Customers do not have to hypothecate any assets to avail of a personal loan from Fullerton India.
Personal loan offered by Fullerton depends on several factors such as a customer’s credit history, monthly income and repayment capacity among others. Fullerton personal loan interest rate 2015 ranges from 12.75% to 35%. Customers can repay their personal loan in equated monthly installments (EMIs). At the time of booking of a personal loan, Fullerton will calculate the EMI based on the loan amount approved, interest rate and tenure.
Equated Monthly Installment or EMI for short is the amount paid to the bank every month until the loan is completely paid. EMI comprises the interest on loan in addition to the principal to be repaid. The sum of principal and interest is divided by the tenure of the loan. Top rate aggregator websites such as bankbazaar.com provide a personal loan EMI Calculator which helps customers calculate the exact EMI which needs to be paid. All a customer has to do is enter the details of loan amount, tenure, interest rate applicable and processing fee, if any and click ‘calculate’. The customer will then find all the required information such as amortization figures and loan repayment figures for a specific loan amount.
An amortization table provide a breakdown of loan repayment, i.e, principal and interest for a specific loan amount. The amortization table displays each payment to be made after principal is deducted resulting in new balance after each payment.
For instance, Sudeep Varma, a 33-year-old marketing executive, takes a personal loan of Rs.5 lakh at an annual interest rate of 17.25%. Varma opts for a repayment tenure of 4 years. Varma, therefore, has to pay an EMI of Rs. 14,492 per month. The amortization table is as follows:
|Year||Principal paid (Rs.)||Interest paid (Rs.)||Balance amount (Rs.)|
There are various factors which affect interest rates offered on Fullerton personal loan as listed below.
Note: Fullerton can alter its Interest rates at its discretion.
CIBIL score reveals an individual’s repayment capacity and credit history. A robust CIBIL score will boost the chances of a loan applicant to acquire a personal loan at competitive interest rates. If loan applicants have a low CIBIL score, they are unlikely to get their loan approved. If Fullerton decides to approve a loan request by an individual who has a low credit score, the interest rate charged on the loan may be higher compared to those who have a good credit score.
Before applying for a personal loan by Fullerton, you would do well to examine the following factors:
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