A personal loan can be a fantastic alternative if you’re seeking to fund a significant investment or pay your debt. This article discusses various topics such as Fullerton personal loan eligibility criteria, free CIBIL score check, features of Fullerton personal loans, how to apply for personal loans, and many more regarding Fullerton Personal loans.
Fullerton Personal Loan Details
A few crucial pieces of information regarding personal are given below.
- Interest rate (monthly reducing balance): The interest rate for the personal loan will be 11.99% – 25% of the loan amount per annum.
- Processing fees: You will be charged a processing fee of 3% – 6%.
- Loan tenure: The loan tenure might vary from 1 year to 5 years, depending on the loan amount.
- Within six months from the date of agreement – Not allowed.
- For 7 to 17 months from the date of agreement – 7% of the outstanding principal amount.
- For 18 to 23 months from the date of agreement – 5% of the principal amount.
- For 24 to 35 months from the date of agreement – 3% of the principal amount will be charged.
- After three years from the date of agreement – No pre-closure charges are applicable.
Guarantor requirement: No guarantor is required to apply for personal loan.
With these details about the Fullerton personal loan details, let’s understand the factors affecting the eligibility criteria for the loan.
Factors Affecting Fullerton Personal Loan Eligibility
Before you apply for personal loan in Fullerton, it is better to know about the factors that affect the Fullerton Personal loan.
- The age at which you borrow a loan affects your eligibility.
- Individuals in their twenties and thirties may be able to borrow more due to more extended repayment tenure options. On the contrary, individuals in their late 50s cannot apply for high loan amounts.
- More income increases personal loan eligibility as it indicates a higher repayment capacity.
- Full-time employment reduces the risk of EMI defaults.
- Individuals with a few years of experience will likely have a steady salary, increasing their eligibility.
- A good CIBIL score (above 700) is crucial for being eligible for loans at reasonable interest rates. Perform a free CIBIL score check before-in-hand.
Fullerton considers a good CIBIL Score crucial out of several eligibility criteria. So, it is better to perform a free CIBIL score check before you apply for personal loan.
Personal Loan Amounts Offered By Fullerton
This segment gives you details about the loan amounts offered by Fullerton, which helps you gain knowledge before you apply for personal loan.
Minimum Loan Amount:
- The loan amount commences at a bare minimum of ₹65,000 for those residing in metro and tier 1 cities.
- For residents of 2, 3, and 4-tier cities, ₹ 50,000 is offered.
Maximum Loan Amount:
- The upper limit for men seeking loans is ₹20 lakh.
- The maximum limit for women is ₹10 lakh.
Key Features of Fullerton Personal Loan
Below are some of the key features of Fullerton personal loans that every borrower must consider before they apply for personal loans.
- Part-Prepayment Facility
- Quick Loan Approval
- Low-Interest Rates
- Online Loan Application Facility
- 24/7 customer support
- Free CIBIL score check
Five Major Reasons To Choose Fullerton Personal Loans
Fullerton offers several benefits to its borrowers. These are as follows:
- Higher Loan Amounts
- Competitive Interest Amounts
- Feasible Application Process
- Special Benefits for Existing Customers
- Quick Loan Approval
- Seasonal Offers
In conclusion, you must consider other factors besides interest rates and free CIBIL score checks. Factors such as age, residing place, income, employment status, and many others are vital to consider when planning to apply for personal loan. Hope, the above-mentioned information in this article will help you plan your Fullerton personal loan process.