Business Wire India
The Indian Government's adequate impetus to the digital financial ecosystem has had a significant impact on digital trades over the years. Union budget 2022 has laid out the framework for a digitally-led India with a greater emphasis on digitalising finance. Digital lending is also growing steadily in India, and around 77% of working India leans on personal loans to meet their sudden and planned financial needs.
Personal loans popularity has continued to increase exponentially over the last decade. There has been double-digit growth in their share in outstanding bank credit – 25.9% in March 2021. Overall personal loan segment in the financial sector has increased by Rs 73,000 crore within two quarters, ending September 2021. It is anticipated that the digital lending market will touch approximately $ 350 billion by 2023.
Fullerton India makes the eligibility criteria for personal loans easy to meet the increasing demands. Fullerton India personal loan is one the most transparent and easily available personal loans in the financial market. In these unprecedented times, when everyone is apprehensive about stepping out of their homes, one can apply for a personal loan with Fullerton India following a simple online loan application procedure. The online application process is 100% digital, enabling a loan seeker to get an instant loan to meet urgent financial requirements from the comfort of their home without having to visit the lender’s office.
It is easy to get sanctioned and repay a Fullerton India personal loan. The loan amount can be used to meet a medical emergency, make a big purchase like property, or significant expense like home renovation, the capital requirement in business, funding your child's education abroad, or any other financial requirement, whether it's planned or sudden.
Simply check the eligibility to get finance against a personal loan and figure out the amount of loan you can get, based on various factors.
Fullerton India Personal Loan Benefits
As discussed, a personal loan is a kind of an instant loan to meet immediate cash requirements. For salaried applicants, getting a personal loan is much easier using the Fullerton India InstaLoan app. Using its personal loan eligibility calculator, salaried loan applicants can quickly determine their eligibility to get a perspective on the personal loan amount, EMI, and interest rate. The benefits enumerated below defines the usefulness of Fullerton India personal loans:
- High loan amount – up to Rs. 25 lakhs
- Minimal paperwork
- Convenience of applying online
- Low personal loan interest rates starting at just 11.99% per annum
- Quick loan disbursal shortly after final loan approval
- Existing customers may be able to get additional benefits on top-up amounts, depending on Fullerton India’s policy at the time of application.
Check Eligibility with Fullerton India Personal Loan
- The age of the loan applicant should be at least 21 years old at the time of loan application and less than 65 years of age at the loan maturity.
- For salaried individuals, the minimum income for loan eligibility is Rs. 25,000 per month for Mumbai and Delhi and Rs. 20,000 per month for residents in the rest of India.
- Salaried applicants must have a work experience of at least 1 year, with at least 6 months in the current organisation
- One must not have EMIs more than 65% of their income
- A CIBIL score of at least 750 is required to be easily maintained if one makes every EMI of existing loans or credit card bills in a timely manner.
- Cash salary applicants will not be accepted
Refer to the official website of Fullerton India or log on to the Fullerton India InstaLoan app and use the personal loan eligibility calculator to check the applicant’s eligibility while applying for a personal loan.
The loan amount that the calculator shows is an approximate loan figure. The actual loan amount the applicant is eligible for depends on various factors like income, credit score, employer, and others.
To check the personal loan eligibility quickly with Fullerton India and get an instant loan, visit the official website.
For more information, Contact:
1800 103 6001
Timings: 9.00 a.m. to 7.00 p.m.
You can also visit: https://associations.fullertonindia.com/contact-us.aspx
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