Fullerton India Car Loan Features
A Car Loan is offered to individuals with a repayment capacity for a maximum tenure of 7-8 years, depending upon the bank. A car loan is used to purchase new and old vehicles alike but the interest varies for both. The payment is done in the form of EMIs which has 2 components – interest and the principal amount.
Fullerton India is registered as NBFC – Investment and Credit Company (NBFC-ICC) with the Reserve Bank of India and is a wholly owned subsidiary of Fullerton Financial Holdings Pte. Ltd.
The various features of Fullerton India Car Loan are:
- Low processing fee.
- Competitive interest rates.
- Foreclosure charges at 5% of the principal outstanding.
- Minimal and fast documentation.
- Fast loan disbursal.
Fullerton India Car Loan Eligibility
Fullerton India Car Loan Documents Required
Fullerton India Car Loan Approval Process
Fullerton India’s Car Loan approval process is simple:
- You can call apply online by visiting their website.
- Selected whether you are self employed or salaried.
- Enter your mobile number.
- Upload your KYC documents to complete loan application.
- Check your eligibility and get a loan offer.
- You will be contacted by the bank to complete all the remaining formalities.
- Once your loan application is approved, the loan will be disbursed to you.
FAQs on Fullerton India Car Loan Approval Process
✅ What is the loan tenure of a Car Loan in Fullerton India?
The loan tenure ranges from 1 to 7 years depending upon your loan amount, your ability to repay, etc.
✅ Does Fullerton India require a guarantor or co-borrower?
A guarantor or co-borrower is usually required by the bank when you do not meet the eligibility criteria or if you have a poor credit score.
✅ Are there tax benefits for a Car Loan?
No, unlike home loan, there are no tax benefits which can be availed by an individual when applying for a Car Loan.
Table of Contents
- 1 Fullerton India Car Loan Features
- 1.1 Fullerton India Car Loan Eligibility
- 1.2 Fullerton India Car Loan Documents Required
- 1.3 Fullerton India Car Loan Approval Process
- 1.4 FAQs on Fullerton India Car Loan Approval Process