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Fullerton Personal Loan Closure

Fullerton India Foreclosure Charges

Last Updated 23rd Aug 2021

  • Fullerton India Personal loan pre-closure refers to a situation where the borrower pays back the loan before the end of a personal loan agreement either fully or partially.
  • Partial payment of Fullerton India Personal loan is called Part payment, whereas closing the loan completely is called foreclosure.
  • You can foreclose your personal loan by contacting the Fullerton India branch where you availed the loan.
  • Ensure collecting NOC and loan statements of your last paid EMIs once you prepay or part pay your personal loan.
Part Payment Fee Not Allowed Nil
Foreclosure Fee Allowed After 6 Months at 1 -17 months: 7%, 18 - 23 months: 5%, 24 - 35 months: 3%, After 36 months: Nil
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Fullerton India Personal Loan Pre-Closure

You can avail foreclosure of Fullerton India personal loan if you pay back the personal loan completely before the end of the loan agreement. In case of foreclosing the loan, you will have to pay the current month's EMI, any outstanding dues if there are and the foreclosure fees.Fullerton India allows part payment of personal loan after 6 Months at 1 -17 months: 7%, 18 - 23 months: 5%, 24 - 35 months: 3%, After 36 months: Nil

Steps of Fullerton India personal loan preclosure are as follow:

  • Visit the Fullerton India branch and carry all the necessary documents like identity proof, last EMI payment, and loan account number to the Fullerton India.
  • Pay the outstanding loan amount as well as the Fullerton India foreclosure charges.
  • Once all the documents are checked and the amount made, the bank will check to provide the acknowledgement. The acknowledgement will clarify that you have paid the loan amount and there are no further outstanding dues left.

Fullerton India Personal Loan Part-Payment

Apart from foreclosing Fullerton India Personal Loan, you may also prepay your personal loan partially. This is called personal loan part payment. Fullerton India does not provide the facility of part payment.

Fees and Charges of Fullerton India Personal Loan Closure

Fees and charges associated with preclosure of Fullerton India Personal Loan are listed as follows:

  • Part payment is Not Allowed
  • Foreclosure is Allowed at 1 -17 months: 7%, 18 - 23 months: 5%, 24 - 35 months: 3%, After 36 months: Nil after 6 Months

Fullerton India Personal Loan Regular Closure

You can pay back your HDFC Bank Personal loan via regular closure, which involves repaying the last EMI of the loan as per the pre-decided personal loan part payment schedule. The steps for closing Fullerton India Personal loan are as follow:

  • Pay the last instalment of the Fullerton India loan and contact the bank for closing the loan.
  • Provide all the relevant documents like identity proof, last EMI payment, and loan account number to the Fullerton India branch where you opted for the loan.
  • On checking all the documents and their authenticity, the bank will provide the NOC or No Objection Certificate. No objection certificate is proof that you have paid all the EMIs and there is no outstanding due.

However, in order to make the loan less expensive, you may opt for a Fullerton India Personal loan part payment. To reduce the interest burden, you can opt for Fullerton India foreclosure or part payment of the loan.

Required Documents for Fullerton India Personal Loan Closure

The documents required for Personal loan foreclosure from Fullerton India are:

  • Loan statements
  • Identity and address proofs such as Aadhar, Voter ID, Passport
  • Cheque or demand draft

After the loan has been closed, it is important that you collect the acknowledgement slip, NOC certificates and payment receipts from Fullerton India.

Check Prepayment Charges of Other Banks

FAQs

What is the Fullerton India pre-closure fee for a personal loan?

Pre-closure fee or foreclosure charges is a penalty levied when you prepay the personal loan before the end of the tenure. Fullerton India does not provide the facility of part payment.

Can we close personal loans online for Fullerton India?

No, you cannot close the personal loans online for Fullerton India. Individuals are required to visit the Fullerton India Branch to close the personal loan. Below are the steps to close the Fullerton India personal loan:

  • Visit the nearest Fullerton India branch.
  • Carry necessary documents like identity proof, address proof and bank statements mentioning the final clearance of the last EMI.
  • Once all the documents are successfully checked, the Fullerton India will give the acknowledgement letter and NOC.

Does foreclosure of Fullerton India personal loan affect CIBIL?

Foreclosure of Fullerton India personal loan may not directly affect your CIBIL score. However, your chances of creating a good credit history, which will result in an improved score, will be affected.

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Fullerton Personal Loan News - Nov 2021
  • 2021-08-23 : Fullerton India offers personal loans at a lower interest rate
    Fullerton India has started a campaign #KaroHarSapnaSakaar. Under this campaign, the lending institution is offering a personal loan for up to ₹25 lakh at a competitive interest rate of 11.99%. The loan can be taken for any use by the people who need extra cash.
  • 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.
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