Fullerton India Credit Company Limited is a rapidly growing financial institution that provides its clients and customers with a wide variety of banking needs and solutions in order to meet their requirements. Among the products offered by the company, the Fullerton India GramShakti two wheeler loan scheme is one of the primary services provided to those individuals looking to acquire a vehicle, such as a motorcycle or a scooter, in order to commute from one place to another. Families from rural areas can acquire these loans to purchase two wheeler vehicles in order to conduct their business, while making easy repayments at affordable and financially viable rates of interest.
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Features and Benefits of Fullerton India Gram Shakti Two Wheeler Loan Scheme:
Two wheeler loans offered by Fullerton India come with a range of attractive benefits and features. The main highlights of these loans are as follows:
- Individuals from all walks of life and financial backgrounds can apply for these loans
- These loans are especially designed to cater to families coming from rural areas in order to help them carry on their business
- The loans come with attractive and affordable rates of interest
- Applicants looking to apply for this loan need not worry about possessing a large amount of paperwork since the documentation required is simple and minimal
- Applicants can avail of loans up to a maximum of Rs 60,000
- Borrowers can make repayments towards their loans in easy monthly installments
- Applicants also have the advantage of flexibility when it comes to making repayments towards the loan
- The application process is simple, easy and hassle free
- The bank has a quick loan processing turnaround time
- Applicants can avail of two wheeler loans with a minimum loan tenure of 48 months and a maximum loan tenure of 4 years
- Borrowers can avail of finance options of up to 85%
- No guarantor is required to be provided by the applicant in order to apply for this loan
Also Read: Two Wheeler Insurance.
Fullerton India Gram Shakti Two Wheeler Loan Interest Rate:
Under this scheme, Fullerton India offers customers two wheeler loans at competitive and affordable rates of interest, which are formulated in order to meet the requirements of the individual as well as to fit his or her financial budget. Currently Fullerton India charges interest rates ranging from 23% to 26% on their two wheeler loans. These rates are applicable to all loan tenures from a minimum of 48 months to a maximum of 4 years.
Eligibility Criteria for Fullerton India GramShakti Two Wheeler Loan:
Applicants looking to avail of two wheeler loan under the Fullerton India GramShakti scheme are required to fulfil the following criteria in order to be considered eligible:
- The applicant must be an Indian resident
- The applicant must be either a salaried individual or a self-employed individual
- In the case of salaried individuals, the applicant must be a minimum of 21 years of age and a maximum of 65 years of age in order to apply for this loan
- In the case of self-employed individuals, the applicant must be a minimum of 21 years of age and a maximum of 60 years of age in order to apply for this loan
- Both salaried as well as self-employed individuals are required to earn a regular income, which is more than the minimum amount of income required in order to apply for the loan
Documentation Required In Order To Apply For a Fullerton India GramShakti Two Wheeler Loan:
Applicants who wish to avail of a two wheeler loan under the Fullerton India GramShakti scheme are required to submit the following documents in order to have their loan applications processed:
Identity Proof - Any of the following:
- Copy of Valid Passport
- Driving License
- PAN Card
- Voter ID Card
- Ration Card
Proof of Address or Residence - Any of the following:
- Copy of Valid Passport
- Electricity Bill
- Copy of Ration Card
- Rental Agreement
- Telephone Bill
- Fullerton India may also require applicants to provide documents that show proof of income, such as salary slips or any other form of income validation. However, this is entirely dependant on the amount and tenure of the loan opted for by the applicant
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What is the procedure to apply for a two wheeler loan through the Fullerton India GramShakti scheme?
Applicants who wish to apply for a two wheeler loan through the Fullerton India GramShakti scheme can do so by visiting their nearest local branch where they can fill in and submit a loan application form along with the relevant documents. Applicants can also apply online by visiting the official Fullerton India website and filling in the necessary details.
How low do EMI installments go under the Fullerton India GramShakti scheme?
Under this scheme, borrowers can make Equated Monthly Installments (EMIs) that can commence from as little as Rs 660 every month, making it an extremely attractive proposition for applicants of all types.