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Fullerton Personal Loan Interest Rate

Current Fullerton India Personal Loan Interest Rate

Last Updated 26th Mar 2021

Interest Rate 11.99% - 18.99%
Tenure Upto 48 months
Processing Fee 2%
Loan Amount ₹ 50,000 to ₹ 25 Lakh
Minimum Income ₹ 17,000
Eligible Age 21 to 58 years
Part Prepayment Charges Not allowed
Foreclosure Charges Allowed after 6 months with charges ranging from, 1 -17 months: 7%, 18 - 23 months: 5%, 24 - 35 months: 3%, After 36 months: Nil of the outstanding loan amount.
  • Today’s Fullerton India personal loan interest rate starts at 11.99%.
  • Fullerton India offers the lowest personal loan rate of 11.99% to borrowers who are existing customers of the bank or are working with top corporations.
Apply for Personal Loan @ 10.25%* Get upto ₹ 1,000* Cashback

Fullerton India Personal Loan Rates and Charges

  • Fullerton India offers personal loans to salaried individuals at a minimum rate of 11.99%.
  • Apart from the interest rate, the bank also charges processing fees and penalty fees for pre-payment, foreclosure, and late payment as Fullerton India personal loan rates and charges. As listed below:
Fullerton India Personal Loan Rates and Charges
Interest Rate 11.99% to 18.99%
Part Prepayment Charges Not allowed
Foreclosure Charges Allowed after paying 6 months with charges ranging from, 1 -17 months: 7%, 18 - 23 months: 5%, 24 - 35 months: 3%, After 36 months: Nil of the outstanding loan amount.
Processing Fees 2%

Interest rates on Fullerton India Personal Loans Schemes

As on today, Fullerton IndiaPersonal loan interest rates are in the range of 11.99% to 18.99%, with lowest rates offered to existing customers of the bank with a strong CIBIL Score and for those working with reputed corporate with a stable employment history. The lowest rate on Fullerton India personal loan remains unchanged at 11.99% as on 26 Mar, 2021. The last revision on Fullerton India Personal Loan was announced on 31 Mar, 2021 when the rate was 11.99%. Fullerton India also runs special schemes in which it offers lower rates for defense, armed forces and government employees.Personal loan interest rate for government employee and defense personnel is different from private salaried employees.

Fullerton India Personal Loan Interest Rates for Salaried and Self-Employed-

Employment TypeLowest Rate Processing FeesPrepayment charges
Salaried Starting from 11.99% 2% NIL
Self-Employed Professional Starting from 17.00% 2% 3 - 7%

Fullerton India Personal Loan Rate Comparison with Other Banks

Here is a comparison of Fullerton India Personal Loan with top lenders based on interest rate, loan tenure, amount, processing fee, and other charges. It is always better to compare various personal loan lenders before proceeding with the personal loan process.

Particulars Fullerton India HDFC Bank SBI
Rate of Interest Starting from 11.99% Starting from 10.25% Starting from 9.60%
Loan Tenure 12 - 48 months 12 - 60 months 6 - 72 months
Minimum Age 21 years 21 years 21 years
Processing Fee 2% Upto 2.50% Min Rs. 999 1.00%
Maximum Loan Amount ₹ 25 Lakh ₹ 75 Lakh ₹ 15 Lakh
Prepayment charges Not allowed Allowed after 12 EMI's, 2-4% Not allowed
Pre closure charges Allowed after 6 EMI's, 1 -17 months: 7%, 18 - 23 months: 5%, 24 - 35 months: 3%, After 36 months: Nil Allowed after 12 EMI's, 2 - 4% Allowed after 6 EMI's, 3%

Fullerton India Personal Loan Balance Transfer Interest Rates

Fullerton India personal loan balance transfer facility is ideal for existing personal loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing of personal loan with Fullerton India at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender. Currently Fullerton India offers the lowest personal loan balance transfer rate of Nil.

How to Get Low Interest Rates on Fullerton India Personal Loan?

You can get the lowest Fullerton India personal loan rate, by ensuring the below-mentioned things:

  • Ensure that you are aware of the Fullerton India personal loan eligibility and documentation requirements beforehand so that you do not end up paying a higher rate as compensation for lack of any document.
  • Ensure that you maintain a good credit score of 650. The higher the credit score, the higher is your chance of getting a low-interest rate.
  • Always check if you are eligible for a pre-approved offer from Fullerton India as that allows you to get instant loans at the best rates.
  • Compare lenders to get competitive interest rates. Further keep tracking the loan rates trends, Fullerton India may offer lower interest rates in the festive season.
  • If you are a high salary earning employee and work in a reputed firm, then leverage it. Fullerton India offers lower rates to employees working in top firms drawing high salaries.

FAQs

What is Fullerton India personal Loan interest rate?

Today, the lowest interest rate on Fullerton India Personal Loan is 11.99%. Borrowers with high income and CIBIL score are eligible for the lowest interest rate.

How can I reduce my interest in Fullerton India personal loan?

You can reduce the interest to be paid on Fullerton India personal loan by any of the below-mentioned ways:

  • By maintaining a good CIBIL score
  • By showing all proofs of income
  • By maintaining a good debt to credit ratio
  • By applying at peak time when Fullerton India provides discounted personal loan offers

Is Fullerton India personal a floating rate loan or fixed-rate loan?

Fullerton Indiais offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the personal loan rates keep varying according to the market.

Did Fullerton India personal loan rate drop in 2021?

Presently, Fullerton India offers personal loans at an interest rate starting at 11.99%. There has been no change in personal loan rates of Fullerton India for a long time and continue to stand at 11.99%.

How do I check my eligibility to get a personal loan at a low rate from Fullerton India?

The lowest rate on Fullerton India is mostly offered to individuals with high CIBIL and high income. You can check the eligibility for the personal loan at Fullerton India official website. Apart from that you can also use MyLoanCare Personal Loan Eligibility Calculator.

What is the lowest personal loan rate in Fullerton India?

The lowest personal rate offered by Fullerton India on a personal loan is 11.99%.

What is the interest rate charged by Fullerton India on personal loan?

Personal loan interest rates in Fullerton India are 11.99% to 18.99%. Fullerton India personal loan interest rate for salary account holders are comparatively lower than that for other customers.

Can I ask for a reduction in the Fullerton India personal loan interest rate?

You can ask for a reduction in your Fullerton India personal loan interest rate. However, it depends upon the policy of the bank, whether it allows negotiation or not. Good credit score, high income, and existing relationship with the bank are some of the points which can contribute to the talks going your way.

Is there any need for security or collateral while availing Personal loan from Fullerton India?

No, there is no need for any collateral or security while availing a personal loan from Fullerton India. Fullerton India personal loan is an unsecured loan; thus, it does not require pledging of any asset as security to avail the loan.

How can I close my Personal Loan from Fullerton India early?

If you want to prepay your entire personal loan from Fullerton India, then you can do so by making a lump sum payment. However, you should also inquire about the prepayment and foreclosure charges based on the Fullerton India personal loan scheme availed by you, before making any decision.

How does Fullerton India calculate the interest on a personal loan?

The interest for Fullerton India personal loan is calculated based on the following methods:

  • Flat rate method:   Under this method, Fullerton India personal loan rate is estimated on the original loan amount throughout the original loan tenure. Thereby, the principal amount for calculation remains the same. This method is also called the fixed method of Fullerton India personal loan interest calculation.
  • Reducing rate method:  As per the Fullerton India personal loan reducing balance method the interest rate is calculated on the outstanding loan amount. Therefore, the principal component that is paid during the monthly EMI is not chargeable for interest calculation. In this case, the outstanding balance and the interest reduces with time, and the interest is charged only on the remaining principal amount.

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Fullerton Personal Loan News - Jun 2021
  • 2021-03-03 : Fullerton India made personal loan disbursal quicker
    Fullerton India now offers instant personal loans within just a few clicks.The digital application and paperless process allow customers to avail a personal loan from Fullerton India anywhere, anytime.Fullerton offers personal loans of up to Rs 25 lakhs starting at an attractive interest rate of 11.99%
  • 2019-06-14 : Fullerton India Home Finance Company opens a new branch in Vijayawada
    NBFC Fullerton India Home Finance Company Limited which operates under the brand Grihashakti has launched its new branch in Vijayawada at Bhaskar Plaza, 4th Floor, Gopala Reddy Road, Governorpeta. With the opening of this new branch, the total number of bank branches has reached 82 in Andhra Pradesh. The bank branch will offer facilities like savings account deposits, loans, including personal loans, and business loans.
  • 2019-04-25 : StashFin joins hand with NBFC Fullerton India for onward lending of $15 million
    The digital lending platform, StashFin has joined hands with one of the leading personal loans provider, Fullerton India. The partnership between them will benefit both the entities for onward lending of $15 million and enable them to expand their reach pan India. They are focusing to aim at meeting the growing personal loans needs of the customer without having to worry about any documentation or paperwork.
  • 2018-12-21 : ETMONEY partners with Fullerton India to offer personal loans up to Rs. 20 lakh
    ETMONEY has announced its partnership with Fullerton India Credit, a Non-Banking Financial Company(NBFC) with to offer personal loans up to Rs. 20 lakh in a hassle-free manner with minimal documentation. ETMONEY partnership with Fullerton India will allow ETMONEY to strengthen its presence across the country to offer unsecured loans for various credit needs arising from marriage, medical emergencies, travel, home improvements, and more.
  • 2018-12-12 : Qbera partners with Fullerton India for personal loans
    Digital lending platform, Qbera has announced its association with NBFC, Fullerton India to extend personal loans to underserved segments. Through this partnership, Qbera will assess risk and creditworthiness of the borrowers and will offer personal loans through Fullerton.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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