Personal Loan Online From Fullerton, India: Over the past few years, electronic commerce trades have tremendously increased in India. This has enhanced the importance of cashless transactions.
Owing to this, digital lending is growing at a fast pace. Around 77% of working Indians count on personal loans to meet their financial needs. The digital lending market value is expected to reach approximately 350 billion by 2023.
Considering the changing financial ecosystem, financial institutions are taking several initiatives to fulfil the financial requirements of their clients. Trusted financial institutions like Fullerton, India, offer 100% digital and contactless personal loans. You can quickly obtain funds with a few clicks, and there is no need to step outside. It is a convenient facility to meet urgent financial needs.
Let us explain the process of getting a Fullerton India personal loan online and why people prefer Fullerton India personal loans to get financial support in times of financial need.
Easy Process to Get Contactless Personal Loan:
You can apply for a Fullerton India personal loan online from the comfort of your home through the InstaLoan app or the official website. Here is the step-by-step procedure:
Step 1: Access the loan application form by clicking the Apply Now button on Fullerton India’s official website or app.
Step 2: Enter your active mobile number and employment status – salaried or self-employed.
Step 3: Verify the One-Time Password (OTP) sent to your mobile number.
Step 4: Enter your name, age, income, employment, bank account details, email ID, address, and required loan amount. You can utilize the personal loan EMI calculator to calculate your EMI and select a suitable tenure.
Step 5: Upload the softcopy of the supporting documents. You can upload soft copies of the required documents with the online application form or send your documents through WhatsApp.
Step 6: Processing of your application will start after that. Once the documents are successfully verified, your loan will be approved.
You will be provided with a tracking ID for your loan application status.
Eligibility Criteria for Contactless Fullerton Personal Loan
- It would help if you were a resident Indian.
- You should be aged between 21-60 years.
- You should be self-employed, an entrepreneur or a salaried person.
- The minimum monthly income for Mumbai or Delhi residents is Rs 25,000, and for others, it is Rs 20,000.
- Salaried applicants must have work experience of at least one year, with at least six months in the current organization.
- CIBIL score should be 750+.
- Cash salary applicants will not be accepted.
Please note that the Fullerton India Instaloan app is available only to salaried applicants. Loan approval will also depend on several other factors, including Fullerton India’s policy at loan approval.
Documents Required
- Identity proof
- Address proof
- Age proof
- Latest salary slips for the last three months (for salaried)
- Latest bank statement for the previous six months
- ITR/Form 16
- Income proof (for self-employed)
- Passport-size photos
How to Use Fullerton Personal Loan EMI Calculator
You should apply for a suitable loan amount at affordable EMIs. Therefore, reviewing your financial commitments and status would be best before entering the loan amount.
Using Fullerton free of cost and ready-to-use calculators, you can make an informed decision to meet your urgent or planned financial needs. It can estimate your EMI quickly for the desired loan amount.
To use the calculator:
- You need to enter the loan amount you want.
- Choose the loan term from 12-60 months.
- Enter the interest rate.
For example, if you need Rs. 2 lakhs for 36 months and the interest rate is 11.99% per annum, your calculated EMI will be Rs.6,642 only. You can adjust your loan amount and tenure per your capacity to repay the loan.
The personal loan EMI calculator calculates the personal loan EMI and shows you the repayment schedule for your loan.
What to Consider While Applying for a Contactless Personal Loan
- Ensure that you meet all checkpoints in the eligibility criteria.
- For a quick and contactless Fullerton India personal loan, ensure you are ready with all the required documents.
- Make sure you have not defaulted on any earlier loans and credit payments.
- Getting an instant personal loan at a lower interest rate with a lower credit utilization ratio would be easy. Keep it between 30-40%.
Fullerton India Personal Loans Advantages
- Multipurpose Loan
Personal loans are known for their versatility. You can use funds approved for debt consolidation, medical emergencies, home renovation, higher education, wedding, vehicle, vacation, or to cope with any financially tricky times. You can use a Fullerton India personal loan credit to fund different financial requirements.
- Higher Loan Amount
Fullerton India offers you a loan of up to Rs. 25 lakh without collateral. The loan amount approval depends on several crucial factors: the borrower’s employment status, income, age, financial status or liabilities, etc.
- Affordable Interest Charges
Fullerton India’s loan interest rates are affordable for salaried individuals and business owners, starting at as low as 11.99% per annum. The borrower’s credit history determines the interest rate, income, credit utilization ratio, employment status, existing or new customers, etc.
- Easy Repayment Tenure
You can choose a repayment tenure from 12 – 60 months per your requirement to pay the Fullerton India personal loans. You can select a more extended repayment period for small instalments, while you can go with short-term loans for reduced interest rates.
- Prepayment Facility
Fullerton allows prepayment/foreclosure of personal loans to its customers. Before 36 months of loan prepayment, there are minimal charges. After 36 months, you can repay it without foreclosure charges.
- Fast Disbursal
With Fullerton India, you can get quick approval for a personal loan. Once you complete all the checkpoints, the loan amount will be instantly disbursed.
Salaried, self-employed individuals and entrepreneurs can use Fullerton India personal loans to meet their financial requirements at competitive interest rates. Get ready with your valid documents to avail yourself of a contactless personal loan from the comfort of your home within minutes.
