Financial needs vary depending on specific requirements and situations. People usually plan for routine expenses and manage them smoothly, but often a situation arises which is unforeseen and requires urgent funds. It could be something as serious as a surgery or an aspirational need such as an unplanned vacation. Since these expenses are unplanned, people do not budget for them. Hence the need arises for funds to meet these expenses.

Personal loans are the fastest and most convenient way to arrange funds at short notice. The credit outstanding for personal loans increased by 12.1% in a single year between 2020 and 2021. This shows how personal loans are becoming a favorite of people to arrange for personal finance. Fullerton India instant Personal loan is one of the best options to get quick funds to manage emergency or aspirational needs. Here is how to get a personal loan quickly from Fullerton India in just a few steps.

What is a Personal Loan?

A personal loan is an unsecured loan that a borrower can take as a lump sum and repay with interest in monthly installments or EMIs. The borrower has the freedom to use the loan amount for any purpose he wants.

Personal loan interest rates vary among lenders. At Fullerton India, personal loans start at only 11.99%* per annum for salaried and self-employed individuals.

How to Apply Online for a Fullerton India Personal Loan

Customers can apply for a Fullerton India personal loan in only a few steps. They can apply for the loan from the comfort of their home and upon final approval, they can get the funds in their registered bank account. The steps to apply online for a Fullerton India personal loan are:

• Visit the official website of Fullerton India and go to the personal loans section.
• Click on the ‘Apply for personal loans’ option on the top right corner of the personal loans page.
• Select the nature of employment, i.e., salaried or self-employed, and give your mobile number for further communication.
• Undergo the OTP verification of the entered mobile number.
• Next, enter the loan amount and the repayment tenure of your preference.
• Enter the information asked such as personal details, details of employment, and banking details.

You will be instantly informed of your eligibility. To proceed, upload the requested documents and submit them. After successful document verification and evaluation, a representative will get in touch with you to discuss the terms and execute the loan agreement. Finally, your loan gets approved and you can get the required funds shortly after.

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Salaried individuals can download the Instaloan mobile app by Fullerton India and apply for a personal loan.

How to Make the Loan Application Process Quick

 Follow these steps to get a personal loan quickly:

• Online Application: Online application is a faster way to apply for a personal loan than visiting the branch. Borrowers can apply for a personal loan in minutes from their homes.

Fullerton India Disburses the loans within 30 minutes* of final approval. Additionally, the online loan application process at Fullerton India is paperless, further easing the process for the applicant.

• Do your Research and then Apply: Avoid applying to multiple lenders simultaneously as it can be a waste of time. When several lenders enquire about the individual’s credit score, it can get negatively affected. Also, following up with multiple lenders on loan applications can be stressful. Therefore, it is best to compare the lending rates and terms of different lenders and apply for the best option.

With Fullerton India, customers can get a personal loan of up to Rs. 25 lakhs at flexible and attractive personal loan interest rates, starting at only 11.99% per annum.

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• Keep a Good Credit Score: Lenders check the loan applicant’s credit score before sanctioning the loan. The credit score is a crucial deciding factor for a personal loan. Maintain a credit score of 750 and above to get better interest rates and quick approvals on your loan application.
• Maintain a Good Account Balance: A good account balance assures the lender that the borrower has a reasonable capacity to pay back the loan. It helps in the quick approval of the loan application.
• Disclose all Sources of Income: An individual may have other sources of income apart from his salary or business income, like rental income. The higher the income, the higher the chances of loan approval. Therefore, it is best to reveal all sources of income one has.
• Keep the Documents Ready: Every lender requires a set of documents to approve the personal loan. Keep the documents ready before applying for a personal loan, so that there is no delay during the loan processing. The documents required at Fullerton India are as follows:
• PAN card of the applicant
• Signature proof of the applicant
• Address proof
• Bank statements for the last six months

Additional documents for salaried individuals:

• Form 16 or Income Tax Returns
• Salary slips for the last three months
• Employment proof and office address proof

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Additional documents for self-employed individuals:

• Income Tax Returns for the last two years
• Balance sheets, profit and loss account, and income computation for the last two years
• Business proof
• IT assessment or Clearance Certificate
• Income Tax Challans/ Form 16A/ Form 26AS for income declared in ITR

The loan application process at Fullerton India is smooth and transparent and designed to make borrowing easy for customers. The Fullerton India instant Personal loan has no hidden charges and is the best way to arrange quick finance.