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A personal loan is an unsecured loan option, allowing individuals to borrow money without any collateral or security. It is one reason why a personal loan is a great option to manage all your emergencies and get instant funds anytime, anywhere. 

The digital age has led to the Fintech industry’s growth, thus creating a lot of competition among various lenders. However, you must choose a lender who has years of experience and offers the best loan terms. When both these criteria are combined, only one name pops into our minds: Fullerton India Personal Loan.

An established NBFC, Fullerton India, has decades of experience in providing personal loans to borrowers at an affordable interest rate. It also ensures a safe and secure form of borrowing with no fear of information leakage issues. 

Let us have a closer look at Fullerton India and the personal loan requirement if you want to apply. 

What is Fullerton India Personal Loan?

The personal loan by Fullerton India is available for both salaried and self-employed individuals and serves multiple purposes. So whether it a wedding you have to finance, some vacation you are planning, home renovation, a medical emergency, or even debt consolidation, Fullerton India takes care of it all. 

It allows one to borrow up to Rs 25 Lakhs at flexible repayment tenure and affordable rates. You can apply for the loan by following the below step to step guide.

Steps to get Fullerton India Personal Loan:

One can apply for the Fullerton India personal loan either by the website or through their instant loan app. Before you apply for the loan, you must fulfil the eligibility criteria. 

Step 1: Check the Eligibility Criteria

The eligibility criteria include:

  1. The applicant must be an Indian citizen.
  2. They should be an employee of a public sector Undertaking, a private limited company, or self-employed.
  3. They must be aged between 21 to 60 at the time of applying.
  4. If the applicant is a salaried individual residing in Delhi or Mumbai, the minimum income is Rs 25,000. However, for other cities, the minimum income requirement is Rs 20,000.
  5. For Self-employed applicants, the minimum yearly profit after tax is determined based on the industry working.
  6. The applicant needs a credit score of over 750 for swift loan approval.

These are the standard criteria that the borrower must follow. You can also use the Eligibility checking tool of Fullerton India to make the process simpler.

Once the criteria are checked, it is time for applying. However, the application process will be simpler if you have some documents handy beforehand.

Step 2: Documents required

While personal loan application is a minimum documentation process, you will be required to upload some documents like:

  1. Application form (duly signed and filled)
  2. Identity proof
  3. Address proof
  4. Age proof
  5. Last three months’ salary slips for salaried individuals
  6. Previous six months’ bank statements
  7. Income tax returns or form 16
  8. Proof of Income / financial statements (for self-employed)

With these documents, you can start a personal loan application process.

Step 3: Apply for Loan

Once the above Personal Loan requirements have been fulfilled, you can apply for the loan either through the Fullerton India website or through the app.

  1. Applying through the website

If you are applying for the loan through the Fullerton India website, then follow the below steps:

  1. Visit the Fullerton India Website. On the website, search for the personal loan page.
  2. On the Personal Loan Page, read all the necessary instructions and click on ‘Apply Now’.
  3. To register, enter your mobile number and verify it by the OTP you receive on your phone.
  4. Once the verification is done, an application form will be available, which you will have to fill with your Personal, Professional and Banking Details. Besides, upload all the documents listed in Step 2.
  5. Once all the relevant information has been provided, please review your application and submit it.
  1. Applying through the app
  1. On your phone, download the Fullerton India app from Google Play Store or Apple Store.
  2. Open the app and click on the Personal Loan tab available under the loan section.
  3. On the Personal Loan Page, read all the necessary instructions and click on ‘Apply Now’.
  4. Register yourself by inputting your mobile number and verifying it by the OTP you receive on your phone.
  5. Once the verification is done, an application form will be available, which you will have to fill with your Personal, Professional and Banking Details. You have to upload the documents mentioned in Step 2.
  6. Once all the relevant information has been provided, review your application and submit it.

Irrespective of how you apply, if your loan application is accepted, a customer care executive will call you to complete the pending formalities. The amount gets directly credited to your bank account post loan approval.

Conclusion

The personal loan application process is easy. All you have to make sure is that you do not borrow over your repayment capacity, and your monthly EMI is within your budget.

By admin

Writing and blogging is my passion. Providing meaningful information to readers is my object.