Fullerton Personal Loan Interest Rate

Fullerton India Personal Loan Interest Rates Feb 2017

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Last Updated 18th Nov 2016
Salaried Self Employed
Interest Rate 16.00% - 34.00% Check Special Offer 20.00% - 33.50%
Lowest EMI Rs. 2,834 per lakh Rs. 3,043 per lakh
Loan Tenure From 12 months to 48 months From 12 months to 48 months
Loan Amount Min Rs. 100,000 and Max Rs. 1,500,000 Min Rs. 150,000 and Max Rs. 5,000,000
Processing Fee 2.50% to 6.00% 2%
Age Min 21 years and Max 58 years Min 27 years and Max 65 years
Prepayment Charges Not allowed Allowed after 6 EMI's, Prepayment charges vary by months: upto 17 months - 7%, 18-23 months - 5%, 24-35 months - 3%
Foreclosure Charges Allowed after 12 EMI's, 4% prepayment charges applicable Allowed after 6 EMI's, Prepayment charges vary by months: upto 17 months - 7%, 18-23 months - 5%, 24-35 months - 3%
Apply Personal Loan Online @11.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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Factors affecting Fullerton Personal Loan Interest Rates

Fullerton Personal loan is dependent on various factors and varies from person to person. These factors are
Loan Tenure - Fullerton Personal loans are of shorter tenure ranges from 12 years to 48 years and carry high rate of interest compared to longer term loans.
Repayment Capacity - Before giving loan to the borrower, Fullerton India checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has all the details of previous loans taken and their repayments. CIBIL also gives the information of credit card bills payment.
Borrower Class - Employer category of the borrower is a major deciding factor in order to determine his/her rate of interest. Fullerton has a list of company categories of salaried individuals to which they avail personal loan. So, higher company category leads to low rate of interest.
Relationship with the Bank - Fullerton India offers special rates, offers and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in past will get benefit from the bank.
Fullerton Personal Loan
Fullerton Personal Loan Interest Rates
MyLoanCare Fullerton Personal Loan Interest rate calculator works on various inputs like:
Loan Amount - Generally banks offer lower interest rates for higher amount. However Fullerton offers loan between minimum and the maximum loan amount.
Salary - Higher salary bracket individuals are offered loans at lower interest rates. Fullerton interest rate varies with your net monthly income.
Employer Category - Fullerton India classifies various organisations into different categories. Fullerton rates varies based on the company your work for.
Fullerton Personal Loan Eligibility
Eligibility of personal loan in Fullerton relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. Fullerton offers personal loan to salaried individuals who are atleast 21 years old at the time of loan approval and maximum 58 years at the time of loan maturity.
  • Income: Fullerton India Loan eligibility significantly depends upon your income. Usually bank set minimum levels of income to apply for personal loan. Fullerton India asks for net monthly income of minimum Rs. 17,000.
  • Job stability and Profession: Job stability is important to improve your status and eligibility for personal loan from Fullerton India. In case you are salaried, you must be in a full time job for at least 36 months of which not less 12 month must be with your current company. If you are working with a reputed company, probability of getting personal loan from Fullerton India increases as the income is considered to be more stable and bank offers low interest personal loan to the employees of reputed companies.
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your personal loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your personal loan eligibility.
  • Loan Amount: Fullerton India gives you personal loan depending upon your income. Fullerton India gives you an amount ranging from Rs. 100,000 to Rs. 1,500,000. To improve chances of approval, apply for a loan amount that you can comfortably service.
Fullerton Personal Loan EMI
Personal Loan EMI of Fullerton India is a fixed amount that you pay each month towards the repayment of your personal loan till the end of tenure. Lowest EMI offered by Fullerton India is Rs. 2,834 per lakh loan amount at lowest personal loan interest rate of 16.00%. Personal Loan EMI of Fullerton India depends on factors like:
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
  • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount

Documents Required for Fullerton Personal Loan

Personal loan Fullerton India documents for salaried employees

  • Filled up loan application form
  • 1 Passport Size Photo
  • Income Tax PAN Copy
  • Identity Proof - Driving License/ PAN/ Passport/ Voter ID
  • Residential Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill (upto 3 months old)
  • Income Documents - 2 years Form 16, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit
Illustration on Personal Loan Fullerton India
Maximum Annual Percentage Rate (APR) 16.5% to 34.5%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: Rs. 100,000
  • Time period: 12 months to 48 months
  • Fullerton India Personal Loan Interest Rate: 16.00% to 34.00%
  • Processing Fee payable to Fullerton India: Upto Rs. 2,000. Current offer for processing fee is 2.50% to 6.00%
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From Rs. 2 for a 48 months Rs. 100,000 loan at 16.00% (lowest rate, longest time period) to Rs. 9,947 for a 12 months Rs. 100,000 loan at 34.00% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 16.5% to 34.5%
  • Total cost payable over loan tenure: Rs. 21,358 for 12 months loan to Rs. -97,904 for 48 months loan
Fullerton India’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure - 12 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of Fullerton India.

Compare Personal Loan Interest Rates of Fullerton with other banks

Frequently Asked Questions on Fullerton Personal Loan

How much interest is charged by Fullerton India on personal loan?

Fullerton India offers an interest of 16.00% to 34.00% on personal loan.

What is the lowest EMI per lakh on Fullerton India personal loan?

If you apply for a personal loan from Fullerton India, your lowest EMI per lakh will be Rs. 2,834.

What is the minimum and maximum tenure of Fullerton India personal loan?

You can repay your personal loan from Fullerton India in a flexible period of minimum 12 months to maximum 48 months.

How much personal loan amount I can borrow from Fullerton India?

Fullerton India offers you personal loan if you need a minimum amount of Rs. 100,000 to a maximum amount of Rs. 1,500,000.

How much processing fee is charged by Fullerton India on personal loan?

Fullerton India charges a processing fee of 2.50% to 6.00% with applicable service tax.

Is age an eligibility factor to get personal loan from Fullerton India?

Yes, age is an important eligibility factor to get Fullerton India personal loan as you should be at least 21 years old at loan approval time and 58 years old at loan maturity time.

Are there any prepayment charges on Fullerton India personal loan?

You can take personal loan from Fullerton India with Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%.

Can I add my spouse's income while applying for personal loan from Fullerton India?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
Fullerton Personal Loan News - Feb 2017
11th Oct 16 Fullerton India gives special offers on personal loans
Fullerton India has come out with special offers on personal loan in this festive season for the people of Andhra Pradesh and Telangana. Fullerton India is offering 0.5 per cent waiver on personal loan interest rates and special gifts for high value loans. The company is also offering 50 per cent waiver on processing fees of personal loan to women applicants. The offer is valid from October 1, 2016 till Diwali.
21st May 16 Fullerton India reports 32% increase in profit
Fullerton India reported 32% increase in net profit during the last financial year to Rs 301 crore. The company reported 43% increase in profit before tax to Rs 430 crore for the fiscal year ending 31st March 2016. The profit for the year increased by 43% to Rs.430 crores as against Rs 301 crores in the previous year. NPA for the current year was at 1.3%. Fullerton India saw growth of 33% in its assets under management, at Rs 11,508 crore as compared to Rs 8,669 crore during the last financial year. Fullerton India gives loans against property, commercial vehicle loans and personal loans.
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