Fullerton India Personal Loan Interest Rate

Fullerton India
4.5

Fullerton India has an extensive range of personal loans catering to eligible borrowers' needs. Salaried employees can apply for a Fullerton India personal loan online. Moreover, the paperless process, affordable rates, minimal documentation, and flexible loan tenure make the scheme a lucrative option for borrowers.

  • Fullerton India Personal Loan Interest Rate

    Personal Loan offer for You

  • 11.99% - 25%

    Interest Rate (p.a.)
  • ₹50K - ₹25L

    Tenure(1 - 5 Years)
  • ₹2,224 - ₹2,935

    EMI Per Lakh

Check Latest Personal Loan Offer From Fullerton India

  • Fullerton India Personal Loan Interest RatePersonal Loan offer for You
  • 11.99% - 25%

    Interest Rate (p.a.)
  • ₹50K - ₹25L

    Tenure(1 - 5 Years)
  • Processing Fee:6.00%

    Processing Fee

Fullerton India Personal Loan Rate Comparison with Other Banks

Before considering applying for a personal loan, it will be prudent for customers to understand the prevailing personal loan interest rates. This comparison can assist customers in constructing an idea about the loan interest rates that are presently prevalent.

Here is a table showing the interest rates compared to the Fullerton India personal loan interest rates.

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • Axis Bank Personal Loan Interest Rate

    Axis Bank PL Interest Rate

  • 10.49% - 22%

  • up to 2% of the loan amount + GST as applicable

  • 4.5

  • ₹50K - ₹40L

    Tenure(1 - 7 Years)

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

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.

Frequently Asked Questions (FAQs)

What is the current interest rate of Fullerton India personal loan?

Fullerton India Personal Loan interest rates currently start at 11.99% per annum.

How can I reduce my interest in Fullerton India personal loan?

There are many ways in which one can reduce interest rates. These include maintaining a good credit score, good relationships with the bank, good repayment habits, and being alert for discounted interest rates. 

Is Fullerton India personal loan a floating-rate loan or a fixed-rate loan?

Customers can avail of the fixed interest rate currently set at a starting rate of 11.99% per annum.

Do Fullerton India demand collateral or security for personal loans?

Customers can enjoy up to INR 25 Lakhs of Fullerton India personal loans without any security or collateral.

Can individuals pay off their Fullerton India loans EMI early?

One can pay off their Fullerton India personal loan EMIs early with a prepayment penalty ranging from 0% to 7% of the loan amount.

What is the EMI for an INR 1 lakh personal loan?

For Fullerton India personal loan, a borrower can expect a minimum EMI of INR 2,224 for a loan amount of INR 1 Lakhs with a maximum tenure of 60 months.

What is the EMI for ten lakhs personal loan?

For Fullerton India personal loan, a borrower can expect a minimum EMI of INR 22,239 for a loan amount of INR 10 Lakhs with a maximum tenure of 60 months.

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