Fullerton India offers collateral-free personal loans to salaried and self-employed professionals. Their attractive interest rate starts at 11.99% per annum for a loan amount of up to Rs.30 lakhs. The loan repayment tenure of up to 5 years. They provide customized instant personal loans to new and existing customers with quick disbursement.
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Fullerton India Personal Loan Overview |
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Loan Amount |
Up to 30 Lakhs |
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Loan Tenure |
12 months to 60 months |
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Interest Rate |
11.99% to 36% per annum |
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Processing Fees |
Up to 6% of the total loan amount |
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Age Limit |
21 years to 65 years |
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Occupation |
Salaried employee (public or private)/ Self-employed |
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Minimum Income |
Rs.20,000 per month |
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Prepayment Charges |
Up to 7% of the loan amount |
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Lowest EMI Per Lakh |
Rs.2,224 for 60 months or 5 years |
The main benefits of availing personal loan from Fullerton India are as follows:-
The eligibility criteria for personal loans at Fullerton India include several parameters like- Nature of employment, age, income, work experience, credit score, etc.
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Nature of Employment |
Applicant must be a salaried employee of a public limited company or private limited company or a self-employed professional |
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Minimum Income |
For salaried: Residents of Delhi or Mumbai- Rs25,000 p.m. Residents of any other City- Rs.20,000 p.m. |
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Self-Employed Professionals- Minimum annual turnover depending on the nature of the industry or profession. |
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Age |
Minimum age- 21 years Maximum age- 65 years by the time of loan maturity |
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Nationality |
Resident of India |
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Credit Score |
750 or above |
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Work Experience |
Overall work experience till application- At least 1 year In the present organization- At least 6 months |
The following are the below mandatory documents needed to avail personal loan from Fullerton India-
List of mandatory documents
Additional documents for Salaried Individuals
Additional documents for self-employed applicants
Note- Depending on your individual profile and Fullerton India’s policies at the time of loan application, additional documents may be requested.
Fullerton India offers personal loans at a competitive interest rate of 11.99% p.a. onwards. The final offered interest rate is determined by the factors such as CIBIL score, applicant’s age, repayment capacity, organization, previous relationship with Fullerton, and occupation.
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Types of Fees |
Charges |
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Interest Rate |
11.99% to 36% per annum |
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Processing Fees |
Up to 6% of the loan amount |
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Prepayment or Foreclosure Charges |
0 to 17 EMIs (fully paid)- 7% of principal outstanding 18 to 23 EMIs (fully paid)- 5% of principal outstanding 24 to 35 EMIs (fully paid)- 3% of principal outstanding 36 or more EMIs (fully paid)- NIL |
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Delayed EMI Payment Interest |
As stated under the additional interest rate charge (24% on outstanding balance which is overdue, calculated on daily basis) |
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Cash/Cheque Collection |
NIL (per collection) |
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Loan Cancellation Charges |
Rs.1000 |
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Cheque /ECS/ NACH Dishonoured Charges |
Rs.300 |
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Swap charges (for replacement of ECS to ECS) |
Rs.500 per instance |
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Swap charges for replacement of Post-dated cheques to ECS |
Rs.500 per instance |
Note- Foreclosure/Pre-payment penalties shall not be charged on all floating rate term loans sanctioned to individual borrowers.
Illustration- Rani avails a personal loan for Rs.10 Lakhs from Fullerton India, the interest rate is 15% p.a. and the repayment period is 3 years. You need to calculate payable EMIs, total interest, and the total payable personal loan amount.
1. Elite Applicants
Purpose: This loan is for the personal needs of applicants earning a minimum of Rs.75,000 per month and having a CIBIL score of 750 or above.
2. Personal Loan for Salaried
Purpose: It is a regular personal loan scheme offered to meet the personal requirements of salaried individuals.
3. Personal Loan for Self-employed
Purpose: Self-employed individuals can avail of personal loans from Fullerton India to fulfill their personal and business requirements.
4. Personal Loan for Women
Purpose: Personal loan for women is offered to fulfill the personal requirements of females and help them to achieve financial freedom and dream.
Disbursement Time- Up to 72 hours of loan approval
5. Personal Loan for Wedding
Purpose: Personal wedding loan provides an adequate amount of funds for all wedding-related expenses of individuals.
6. Personal Loan for Holiday
Purpose: This personal loan is for meeting the financial needs of a holiday or vacation including airfares, hotel fees, purchasing travel and other accessories, and funding a tour package.
7. Personal Loan for Doctors
Purpose: Fullerton India offers collateral-free personal loans to doctors such as healthcare consultants and practicing doctors working in private or government hospitals or working in clinics.
8. Personal Loan for Home Improvement
Purpose: This personal loan is for renovating your home such as expanding the living space or making some other necessary improvements to the house.
9. Personal Loan for Medical Emergency
Purpose: Individuals who have urgent need of funds during a medical emergency can avail of personal loan from Fullerton India.
10. Personal Loan for Chartered Accountants
Purpose: Chartered accountants need personal loans for multiple purposes such as expanding space, scaling up your operations, hiring new employees, installation of software, or any other personal reasons.
11. Personal Loan for Shopping
Purpose: Fullerton India provides personal loans for shopping items such as smart televisions, mobile phones, tablets, washing machines, air-conditioners, or purchasing any branded items.
12. Personal Loan for Professionals
Purpose: It is a special category of personal loan which is offered to professionals like doctors, lawyers, and chartered accountants. It can be suitable for multipurpose such as personal and professional as well.
Following are the necessary steps to avail of a personal loan online through Fullerton India.
Also Read- IDBI Personal Loan
Step 1. Enter your phone number- First, the borrower need to verify their phone number through OTP sent by Fullerton.
Step 2. Enter Personal Details- Enter all your necessary personal details such as basic details (name, address, phone number, occupation, etc.), income details, and PAN Card details.
Step 3. Provide Loan Details- You need to select the loan amount as per your requirement and the repayment tenure as per your capacity.
Step 4. Upload Documents- Applicants must need to upload all necessary documents based on their occupation.
Step 5. Approval and Disbursement- Once your loan amount gets approved the amount will be disbursed in your account within 72 hours.
Following are the pros and cons of availing of a personal loan from Fullerton India as per ratings (3.9*/5) and reviews of the existing users on google playstore.
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PROS |
CONS |
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The user interface is good |
Customer services are pathetic |
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The App is safe and secure to use |
Technical errors |
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All personal loan services in one place |
Interest rates are high |
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They provide additional benefits to the existing customers |
Not user friendly |
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Provide a higher loan amount |
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The rating given by the users about the Fullerton India mConnect App is quite well on playstore, more than 5 Lakhs users download their app, and reviews given by the users are average, customers are delighted with additional benefits, but facing technical errors and customer care service. You can analyze the below table for more details.
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1. |
Playstore Rating |
3.9/5* |
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2. |
Number of Downloads |
5 Lakhs+ |
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3. |
Number of Users Review |
7,053 |
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4. |
Content Rating |
3+ |
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5. |
App Size |
13 MB |
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6. |
OS Required |
Android 5.1 and above |
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