Fullerton India Personal Loan Interest Rate

Fullerton India personal loan scheme is available for customers with diverse needs ranging from medical to educational to other personal needs. The interest rates offered by Fullerton India are competitive, and customers with higher creditworthiness have the provision to avail of the benefits of relatively lower interest rates than their counterparts. The processing fees range from 0% to 6%. 

Moreover, if anyone wants to make any pre-payments, they will be charged a penalty ranging from 0% to 7% of the loan amount. Customers can apply for a loan with a minimum tenure of 12 months and a maximum of 60 months. Lastly, customers applying for Fullerton India personal loan scheme are advised to refer to the terms and conditions before making a loan application. 

Fullerton India Personal Loan Interest Rate by Schemes

Here is an overview of the Fullerton India personal loan interest rates by the scheme. 

Loan Type	Interest Rate
Personal Loan for Salaried	11.99% per annum
Personal Loan for Self-Employed	11.99% per annum
Personal Loan for Women	11.99% per annum
Personal Loan for Travel	11.99% per annum
Personal Loan for Wedding	11.99% per annum
Personal Loan for Higher Education	11.99% per annum
Personal Loan for Shopping	11.99% per annum
Personal Loan for Debt-Consolidation	11.99% per annum
Personal Loan for INR 50,000	11.99% per annum

Fullerton India Personal Loan Interest Rates for Salaried and Self-Employed

Salaried and Self-employed can avail of the benefits of the Fullerton India personal loan scheme with a starting interest rate of 11.99% per annum. EMIs start from as low as INR 2,224 per month. 

Fullerton India personal loan interest rate for Salary Account

Fullerton India personal loan interest rates for applicants holding a salary account starts at 11.99% per annum. Customers can select a maximum tenure of 60 months with the minimum EMIs starting from INR 2,224 per month. A processing fee will be charged, ranging from 0% to 6% of the loan amount. 

Fullerton India Pre-approved Personal Loan Interest Rate

Customers with an account with the Fullerton India NBFC and good repayment history are eligible for a pre-approved personal loan. The bank will assess a few parameters, such as the customer’s relationship with the bank, savings account balance, FD balance, credit card usage, etc. Customers can access loans up to INR 25 Lakhs with interest rates starting from 11.99% per annum. The other eligibility criteria include being a citizen of India, having an employed background, being aged between 21 to 60, and having a minimum income of INR 25,000. Applicants can simply apply online for a pre-approved loan from Fullerton India NBFC. 

Fullerton India Personal Loan Balance Transfer Interest Rates

Fullerton India facilitates the provision of balance transfers from another lender to their bank under improved personal loan policies. This can potentially help customers save their interest expenses in the longer run. Customers can avail of the full range of Fullerton India personal loan balance transfer facilities with features that include the smooth transfer of loans. Applicants must have a minimum salary of INR 25,000 with a minimum CIBIL score of 750 or above. The interest rates start at 11.99% per annum.  

Fullerton India Personal Loan Fees and Charges

Applying for Fullerton India Personal Loan can incur the borrower a few fees and charges which are non-refundable. These charges are to be paid while getting the loan sanctioned. Moreover, there are other charges, such as pre-payment, penalties, and additional charges, which are to pay as and when communicated by the bank. Details of these Fullerton India personal loan fees and charges are as follows.

Fees / Charges Category	Payment Details
Processing Fee	0 to 6% of the loan amount
Late EMI fees	24% per annum on outstanding amount
Bounced Cheque	INR 300
Swap Charges	INR 500
Cancellation Fee	INR 1000
Prepayment Charges
0 to 17 months EMI payment	7% of Outstanding Loan Amount
18 to 23 months EMI payment	5% of Outstanding Loan Amount
24 to 35 months EMI payment	3% of Outstanding Loan Amount

Factors Affecting Fullerton India Personal Loan Interest Rates

There are a few factors that can affect the Fullerton India Personal Loan interest rates. Knowing these factors can help a borrower analyse the key areas that can impact interest rates. With this information, customers can improve their creditworthiness as well. These factors are explored below. 

• One of the primary factors includes the age of the borrower. The younger a borrower, the lower the interest rate. This is mainly because as age increases, the risk of funds increases which prompt the banks to increase the interest rates. 
• CIBIL score of the borrower can also impact the interest rates. A score of 750 or above will enable banks to assign relatively lower interest rates. 
• It is an added benefit when a borrower has stable employment and income. Being in a dynamic workplace can increase the risk factor forcing the banks to increase the interest rates. 
• Another factor can be said to be the employer. If a borrower is employed in a reputed corporation, the reliability increases. 

How to Calculate Fullerton India Personal Loan Interest/EMI?

Always use a personal loan EMI calculator before applying for the loan scheme. This can give an approximate estimate of how the interest payment expenses will look in the future. Consequently, customers can create an appropriate financial plan during their loan repayment tenure, easing their expenses. The easiest way to calculate the Fullerton India personal loan EMIs is to use an online calculator tool. Anyone who needs to calculate manually can use the following mathematical formula. 

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Here, 

‘P’ stands for the Principal amount,

‘R’ stands for the interest rate, 

And ‘N’ stands for the tenure. 

Tips to Get Low-Interest Rates on Fullerton India Personal Loan

Although the Fullerton India personal loan interest rates start from 11.99% per annum, customers can still avail of the lowest possible interest rates by incorporating a few ideas that are discussed below. 

• One of the primary tips is to improve one’s creditworthiness. If a customer can maintain a CIBIL score of 800 or more, it can allow banks to quote an interest rate as low as possible easily. 
• Get an idea about the prevailing market rates across lenders. This can assist the borrowers in assessing the interest rates that are affordable to them, thereby enabling them to approach the right lender.
• Always keep an eye out for special discounted interest rates. 
• Maintain a good repayment pattern by making timely EMI payments. This will help build trust with the banks so they can quote an affordable interest rate on personal loans.