A loan without rates is just like a tree without the trunk. It is not possible. Similarly, the moment you think of loan (be it any), you check the rates because that decides the repayment amount. At Fullerton India, a personal loan can be availed for many purposes. From wedding to the international travel, any wish can be fulfilled. But, you should not forget that interest rate is only one of the few things that altogether decide the repayment amount.
An EMI on any loan is decided by the interest rate, tenure and loan amount. If the tenure is longer, the EMI for the same amount will be lower. The opposite is the case with shorter tenure. So, there are different factors that altogether decide the EMI. The Fullerton India personal loan interest rate is also offered by lender on the basis of many factors such as your income, age, profession and CIBIL score.
In this article, we have given all the relevant information regarding Fullerton India personal loan. You will get to know the interest rates, eligibility, documents checklist and also the purposes for which the loan amount can be used. Also, you will read the processing fee applicable on the loan since it is deducted from the disbursed amount.
For what purposes can you take Fullerton India Personal Loan
As mentioned above, you can take this loan for many purposes. Let us tell you what all wishes purposes does the financial institution covers:
- Personal loan for women
- Home improvement
- Medical emergencies
Fullerton India Personal Loan Interest Rates
The rate presently starts from 20% to 40% per annum. The rate is decided on the basis of the income, age, profession, job stability and CIBIL score. The better profile gets a lower rate.
Who are eligible for the loan?
The loan can be availed by a salaried as well as self-employed individual. At Fullerton India, you can get a maximum loan amount of 20 lakhs if you are salaried and 30 lakhs if you are self-employed. In both cases, your age, income and CIBIL score will be taken into account.
Documents required for Fullerton India Personal Loan
The documents you have to submit at the time of applying for the loan are mentioned below:
- Application form with a recent photograph
- Proof of Identity (Passport Copy/ Voter ID card/ Driving License/ PAN Card)
- Address Proof (Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License)
- Age proof (PAN Card, Passport, any other certificate from a statutory authority)
- Bank Statements (Bank statement / Bank Passbook for last 6 months) OR Last 3 months salary slip
- Form 16
- Income Tax Returns for last 3 years
- Processing fee cheque
The rate of interest on a personal loan remain constant for the whole tenure period. So, if your income is good and you have maintained a good CIBIL score, you can expect a good rate of interest. You also know that there is an additional processing fee which is applicable and deducted from the sanctioned amount. So, keep all that in mind and then decide.