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Fullerton India was launched in January 2007 and has established itself strongly as one of the most reputed financial services organizations in the country. The company has branched out hugely across the country with a network of more than 478 branches and serves more than 1 million customers. The primary bouquet of Fullerton services comprises of financing of SMEs for expansion and working capital, home improvement loans, loans against property, loans for commercial vehicles, loans for rural livelihood advancement, working capital loans for urban self employed, personal loans, financing of rural micro enterprises and rural housing finance.
About Fullerton India
The company has more than 7, 500 employees and connects with millions of customers across all parts of the country at their doorsteps. The branch network covers a whopping 600 towns and almost 42, 00 villages.
Fullerton India Credit Company Limited is a wholly owned subsidiary of Fullerton Financial Holdings Pte. Limited which is also a wholly owned subsidiary of Temasek Holdings Pte. Limited from Singapore. Fullerton Financial Holdings invests in financial institutions in emerging markets with a strong emphasis on consumer and business banking. The portfolio of Fullerton financial services also comprises of group, general and life insurance along with the loans mentioned above. It also offers IHO services and other value added services related to insurance.
Fullerton Loan against property
This loan helps customers unlock the value of their residential or commercial properties. There are several property loans to meet diverse financial requirements including educational, business or personal needs. One can get a maximum of 70% of the market value of a residential property and a maximum of 65% of the value of a commercial property as the loan against the property in question. Repayment starts in the month after the month in which the loans has been disbursed. The security for the loan will be the first mortgage of the property to be financed through the deposit of the title deed or any other security as may be required. The title should be marketable, clear and free from any encumbrance which means properties with existing litigation, loans or mortgages will not apply for this loan. The loan tenure can be a maximum of 15 years or a maximum age of 65 years at the maturity of the loan.
Fullerton personal loan
Personal loans are offered for myriad purposes including purchases, educational needs, vacations, weddings, home furnishings and so on. These loans are available for self employed and salaried individuals alike and do not require any collateral. One can get up to INR 20 lakhs in case he/she is a salaried employee and up to INR 30 lakhs in case he/she is a self employed businessman/woman. The loan can be repaid between 12-48 months and can be foreclosed after a minimum of 6 months has passed. Existing Fullerton India customers will get added benefits on interest rates and processing times along with being eligible for pre-qualified top-ups on the existing principal outstanding.
Fullerton home loans
Home loans are provided across the spectrum to meet all needs to the hilt. Home loans are provided for both residential and commercial properties. Home improvement loans are available which take care of painting, repair, renovation, plumbing, electrical works, grilles, etc. You can take a loan for constructing a home on the plot you own and also for purchasing the plot in question. Home extension loans are also provided and covers added reading rooms, study rooms, bedrooms, other living spaces and so on.
Under the Grihashakti scheme, loans can be taken by businesses against residential/industrial/commercial properties while there are loans for buying resale or new commercial properties for businesses. There are loans for purchasing commercial plots and also constructing commercial property on the plot that you own.
Fullerton business loans
There are several business loans that are designed to take care of all requirements of organizations along with expenses required to keep the same running. There are customized business loan solutions offered after thorough understanding of organizational needs, working capital flows and other aspects. One needs to be at least 27 years of age to apply for the business loan under the Self Employed Business Category. There may be a relaxation of 2 years in case one is a non professional. However, the person cannot exceed 65 years of age at the time of maturity of the loan.
The annual turnover of the business should range between INR 10 lakhs and INR 100 crores. The business should be fully operational over the last three years with positive turnover patterns and trends and there should be profit for at least the last two years. The income tax returns of the last two years should reflect taxable income more than at least INR 2 lakhs per annum. In case turnover is more than INR 30 crores, the SME loans section also comes into play should you qualify under this category. There are Fullerton business installment loans which come in handy for meeting medium term working capital requirements. There is no collateral required for getting business loans from Fullerton India. The maximum loan amount can be INR 50 lakhs and the amount is calculated on the basis of income and several other parameters. The loans can be prepaid after a minimum period of 6 months has passed. Existing customers will get additional benefits with regard to the interest rates and processing time alike.