Sunday, December 5, 2021

5 Noteworthy Advantages of Taking a Personal Loan from Fullerton India

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If you are in a cash crunch and have no other means of dealing with a financial crisis, then a personal loan from from Fullerton India is the best available option to manage your finances without touching your savings or investments. It enables you to finance all your needs, such as a wedding, higher education, car repair, home renovation, debt consolidation, etc. 

In times of financial instability, Fullerton India personal loan can help you access funds instantly. You can secure up to Rs. 25,00,000/- as a loan and avail of personal loan interest rates as low as 11.99% per annum, depending on factors like your age, income, credit history, current financial obligations, etc.

You can also avail of a quick loan approval and disbursal process, enabling you access to funds within hours of approval. Here are some of the benefits of a personal loan from Fullerton India 

Advantages of Taking a Personal Loan from Fullerton India

  • The simple loan application process

Fullerton India’s online personal loan application process is simple and easy. Borrowers do not need to visit any physical location to take a loan. They can fill in your application and submit your documents with just a few clicks on your laptop or smartphone. You can either apply through Fullerton India’s website or the Fullerton India Instaloan app. 

The best part is that if you happen to face any issues with regard to your loan application, you can always call the customer care representatives to assist you in completing your application form. If you have all the documents ready, applying for a personal loan will not take more than 30 minutes. 

  • Hassle-free documentation

There is minimal documentation involved in acquiring a Fullerton India online personal loan. You will need to scan your documents and upload them along with your application without any hassle. The requisites documents to take a personal loan are:

  1. PAN
  2. Identification proof: Voters ID Card, Driving License, PAN Card, or passport. 
  3. Address proof: Passport, Rental Agreement, Utility Bill, Ration Card, Etc.
  4. Salary slips for salaried individuals and Income statements for self-employed individuals. 
  5. Bank statements for the past 6 months

Depending on Fullerton India’s policy at the time of loan application and your profile, additional documents may be requested.

  • Quick loan disbursal 

Fullerton India online personal loan is designed to cater to borrowers’ urgent need for funds. Whether you need to finance a family member’s COVID-19 treatment or you need to send money abroad to pay your child’s college fees, you can meet your requirements without waiting for too long. The entire process between application to funds disbursal, if all documents are in order and all verification checks are successful, may take between 1-2 working days. 

  • Minimum eligibility criteria

Another benefit of applying for a personal loan through Fullerton India is that there are minimum eligibility requirements to apply for a loan. If you meet the underlying personal loan eligibility criteria, you will not only get loan approval but may also enjoy lower personal loan interest rates. 

  1. You must be a salaried employee of an organization or self-employed. The minimum turnover as per the industry and current policy. 
  2. You must be at least 21 years old at the time of application and 60 years at the end of the loan tenure. 
  3. You must earn a minimum income of Rs. 25000/- per month if you are a resident of Mumbai and Delhi. If you are from other cities in India, you will need to earn Rs. 20000/- per month. 
  4. As a self-employed person, you must show a minimum yearly profit after tax determined based on profession or industry. 
  5. Salaried individuals must have at least one year of work experience and must have been working in your current company for at least six months. 
  6. You must be maintaining a minimum CIBIL score of 750 and a good credit history. 
  • Collateral-free

A personal loan is an unsecured loan, which means that borrowers are not required to pledge their assets as collateral. It is provided by financial institutions against a borrower’s income and credit history. The best thing about a personal loan is that it is accessible to anyone with a source of income and a good credit score.  

Must Read: Ways to Increase Margin Profit by Using Carbonless Receipt Book

In short

Opting for a personal loan through Fullerton India may be the best option to manage your finances without redeeming your savings. You can secure a maximum loan amount and low personal loan interest rates depending on your income, credit score, current financial obligation, etc.

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