There is no doubt that a personal loan is one of the most popular loan options among customers when they require urgent money. Fullerton India Personal Loan is one of the most trusted lenders that customers like to choose in case any kind of money is needed. Since we are talking about money, one of the crucial questions that people like to ask is how much money they can get with the help of this personal loan? When they know the maximum loan amount, they can make a better decision.
So, how can an individual know this maximum amount? Well, here comes the Fullerton India Personal Loan Eligibility Calculator. One of the best things about this tool is the hassle-free borrowing experience that it provides to customers. With this tool, a customer can know what is the maximum loan amount s/he can get with this tool. Since a personal loan is an unsecured loan which means a borrower doesn’t have to provide any kind of collateral against the loan amount. So, lenders thoroughly check the eligibility of an individual before sanctioning the personal loan.
In this article, we will be telling you about the process with which you can use this eligibility calculator. Keep reading to know more!
Details you will need to use Fullerton India Personal Loan Eligibility Calculator
There must have been a question hovering in your mind about the details you will need to use this tool. Since Fullerton India Personal Loan Eligibility Calculator, and you will need a few inputs to get the eligible loan amount. Both salaried and self-employed individuals can opt for a personal loan from Fullerton India. So, what are the details you will need to put? Well, we are showing them below. Check out!
Residing City
Date of Birth
Net Monthly Income (if you’re a salaried individual)
Yearly Profit after Tax (if you’re a self-employed individual)
Monthly Obligation (Loan & Credit Card EMIs)
Rate of Interest (14% - 24% per annum)
Tenure ( Maximum up to 60 months)
As soon as you put all these details into the tool, you will get the maximum loan amount for which you are eligible. Let’s understand with it an example. Suppose an individual named Ved (31 years old), who is working as a Senior Developer in an MNC wants to opt for a personal loan. He lives in Delhi and earns INR 55,000 per month. Apart from this, he has also been paying a credit card EMI of INR 5,500 per month.
So, when you put all of these details into the calculator, you will get a result of INR 14,18,242. This is the maximum Fullerton India Personal Loan Amount that you can get. You should also remember that this is not the final loan amount. This is just for you to get an idea. Also, monthly obligations play a crucial role in determining your eligibility. In the above example, if he were zero existing obligations, he could get a maximum loan amount of INR 16,54,615. So, you can see a massive difference of INR 2 lakh on having zero existing obligations.
Apart from Existing Obligations, several factors affect your Fullerton India Personal Loan Eligibility. These are Applicant’s age, Monthly Income/ Yearly Profit after Tax, Residing City, and Credit Score. The lender assesses these factors and then, makes a decision. So, keep these factors in your mind when going for a personal loan.
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