Fullerton Personal Loan
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5 Comments
Fullerton India Credit Company Limited is a Non-Banking Financial Corporation (NBFC), which has started its operations in January 2007. With the network of 425 branches across the country, the company is catering to various retail demands of customers, including personal loans, vehicle loans and corporate loans, including business loans and SME loans.
Interest Rates
The interest rate will vary from 19% to 24%, on case to case basis.
Charges
^All charges are liable to change, without notice, at the discretion of the financing institution. Other charges are not mentioned.Charges^
Amount
Processing fee
2.5%-3.5% of the loan amount
Foreclosure charges
4% of outstanding principal amount (can only be foreclosed after 6 months)
Flexibility
- Eligibility: To avail Fullerton personal loans, the applicant should be able to between 21-60 years of age, having a minimum of three years of work experience with the following condisions:
- Should have stayed in the current job for more than 6 months.
- The minimum net monthly income of the applicant should be Rs 12,500.
- Loan Amount: The minimum loan amount availed under personal loan from Fullerton is Rs 1 lakh, with the maximum cap of Rs 5 lakh.
- Repayment options: The loan amount can be paid within 1-4 years.
- Time taken for processing: The turn-around time taken by the company to process your loan application is around 6 days.
Example
Loan amount: Rs 3 lakh
Interest rate: 20%
Tenure in months: 36 months (3 years)
Repayment schedule
Repayment amount
Interest repayment
Principal repayment
Year 1
Rs 1,33,789
Rs 52,846
Rs 80,943
Year 2
Rs 1,33,789
Rs 35,088
Rs 98,701
Year 3
Rs 1,33,789
Rs 13,433
Rs 1,20,538
EMI calculated: Rs 11,149
You end up paying: Rs 4,01,367
Other Details
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Pre-Sales Information: The website has some technical issues due to which personal loan detail display page is not functioning. Information can be obtained from the customer care executives. Other than that, you can leave your number through an SMS with the sales executive and they will contact you on their own.
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Customer Support: The internet displays some complaints about the operational and transactional issues along with long turn-around time that the company takes to process loan applications.
Documents Required
Documents required
Documents
Identity proof
Any one of the following:
Passport, driving license, PAN card, photo credit card (with embossed signature and last two months statement), banker’s sign verification
Address proof
Any one of the following:
Passport, telephone bill (BSNL/MTNL), electricity bill, title deed of property, rental agreement, driving license, election ID card, photo-credit card (with last two month statements).
Age proof
Any one of the following:
PAN card, passport, driving license, school leaving certificate, voter’s card, birth certificate, LIC policy (only for age proof).
Income proof
Latest 3 months’ salary slip (computerized pay slip with company logo or pay slip on company letter head)
Bank documents
Bank statements of latest 6 months
Company documents
Form 16/ relieving letter/ appointment letter
Ratings
@ Customer service levels are adjudged through number and types of consumer complaints across consumer forums, user reviews, blogs and sample customer care calls.Parameter
Ratings out of 5
Speed of processing
2
Documentation
2
Customer service
1.5
Value for money
2
Overall
2
Published on June 22, 2011 · Filed under: Personal Loan;
5 Responses to “Fullerton Personal Loan”
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santhosh said on August 4th, 2011 at 7:17 am
i work for hdfc bank in ( savings a/c deprment) my basic salery 9500+2500 is con total salery is 12000/- please let now for need full for me
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ameena bi said on December 22nd, 2011 at 7:09 am
i will submit my father documents to you okay he is a pensioner now is it okay for you mam/sir ,
last month only i have joined in kaamyaabi recruitment company thats y i can submit my dad documents to you please reply i can pay you properly please sanction my loan if you can provide atleast 70000 loan also no problem for me please reply -
Navdeep Singh said on April 1st, 2012 at 12:06 pm
I work for Jumpstart Insurance Consultant Limited. My net take home salary without insentive 13058 rs. Plz contact me my no- 9717671702 & my email.
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P satyanarayana said on April 16th, 2012 at 9:54 am
I have approached for personal loan from fullerton vishakapatnam anticipating personal loan for rs 2 lacs.I am drawing monthly gross salary of rs 28000/- and net income salary of rs 17000/- pm.I have no negetive CIBIL Report. The staff has also assured that i will get loan atleast rs.150000/- as per earning profile. I am also having own house at vishakapatnam costing rs5000000/-. After making cumbersome enquiries and made me running from my office to fullerton office, finally they have decided to approve loan for rs 50 000/-.What a pitiable condition it is.I have asked the reason for granting such a small loan amount of rs. 50000/- as per my profile. They said the reason is that ia am not maintaining minimum balance in my bank account. Actually my bank has given privilage ZERO banking facility to our salary account holders. I request the fullerton authorities no to cheat the public like this wasting our valuable time and keeping the customers in great anticipation of huge loan amount.Please decidie immediately avoid unnecessary mis leadings.
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P satyanarayana said on April 16th, 2012 at 10:05 am
dear friends dont gofor personal loans especially from private firms.They will say they have big offers from 1 lac to 15 crores.Finally they aprove loan for rs 30000/- to 50000/-.Once you have taken loan and u defaulted even for one month in paying emis your CIBIL report will be spoiled and u will never get any loans in your life Be care full. If you fore close the loan amount also they wiill not send the data to CIBIL. The information will always remain as default in cibil report
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