The inflation rate amid the pandemic has made the lifestyle very tough and expensive, causing financial stress for many. To cater to such emergencies, banks and NBFCs offer personal loans to individuals. These are unsecured loans, which can be used for various financial obligations such as weddings, education, vacation, and many more.
If you are a salaried individual seeking a personal loan, all you need to do is download Fullerton India Personal Loan app, and you are good to go. These apps offer an excellent user experience and cater to all the needs of borrowers. The handy and easy-to-use app brings smart financing to you through your phone.
Why Use the Fullerton India Personal Loan App?
While there are various apps available, some reasons to choose the Fullerton India Instaloan app are mentioned below:
- 100% digitised process with an easy-to-use interface
- Opportunity to avail express loans up to Rs 25 lakhs*
- Make your loan application on the go
- Hassle-free documentation submission on the app
- Quick disbursal within less than a few hours of loan approval
Benefits of Fullerton India Personal Loan
Some of the major benefits of Fullerton India personal loan are:
- Collateral free loan of up to Rs 25 Lakhs*.
- The loan can be applied from anywhere, anytime.
- Hassle-free documentation process where one has to fill in basic details and upload your documents
- Completely digital process, with dynamic tracking status available.
Use of Fullerton India Personal Loan App
You can use the Personal Loan app to get a loan for various purposes:
- Medical Emergencies: You can finance any medical emergency with a personal loan
- Used Cars: While financial options are available for new cars, the personal loan also allows the option to buy an old car without worrying about the finances.
- Debt Consolidation: If you have several debt repayments, then the personal loan will help you consolidate the debt.
- Higher Education: A personal loan can also be used for financing your child’s higher education costs.
- Wedding Expenses: Weddings are an expensive affair, but with a personal loan, you can get an extravagant wedding with easy monthly repayment.
How to Apply for Personal Loans?
Check Your Eligibility — You should check your eligibility before applying to ensure that your loan application is approved. The eligibility criteria for Fullerton India personal loan are:
- Applicants must be an Indian citizen.
- The applicant must be aged between 21 and 60.
- The applicant should either be an employee of a private limited company or public sector undertaking or be gainfully self-employed.
- For salaried professionals residing in Mumbai or Delhi, the minimum income should be Rs 25,000 per month. The minimum income criteria for the rest of the country should be Rs 20,000 per month.
- CIBIL score of 750
You can also use the personal loan eligibility calculator to get an estimate of the maximum loan amount you may be eligible for.
Using The Instaloan App:
If you are a salaried individual, you can use Fullerton India’s Instaloan application to apply for a personal loan.
You will be required to register on the app using your Facebook or Google profile. You can also use your email id and password to create the account.Download the Fullerton India app from the Google Play Store or Apple Store and then follow the simple steps mentioned below
Using the Website
- Log on to www.fullertonindia.com. Both salaried and self employed professionals may apply.
- Click on the “Apply now” button and select “Personal loan”
- Select if you are salaried or self employed
- Enter your mobile number and complete the OTP verification
- Follow the steps below
Steps:
Step 1: Fill in Your Information in the Online Application Form —
- Fill in all your personal details, such as name, address, date of birth, gender, marital status, contact details, etc.
- Enter professional details such as the name of your current company, salary, etc.
- Provide banking details such as account number, bank name, branch, etc.
Step 2: Upload Your Documents — Upload the relevant documents.
- PAN / Identity proof
- Address proof
- Last three months’ salary slips (for salaried individuals) or Proof of income source / financial statements (for self-employed individuals)
- Bank statements for the previous six months
- Income tax returns or Form 16
Step 3: Apply For an Instant Loan — Based on the information entered, if your profile is eligible for the loan, your application will be taken further. After successful verification checks, a Fullerton India executive will contact you discuss the terms of the loan. After receiving your confirmation, your loan gets approved and you receive the funds in your account.
Conclusion
A personal loan is a great option for financial contingencies. It not only helps in getting your finances straight but also keeps your savings intact. The personal loan app now makes it easy to apply for personal loans on the go with minimal documentation and processing.