Fullerton India Car Loan Approval Process

Fullerton India Car Loan Approval Process

Fullerton India Car Loan Features

Car Loan is offered to individuals with a repayment capacity for a maximum Fullerton India Car Loan Approval Processtenure 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:

  1. You can call apply online by visiting their website.
  2. Selected whether you are self employed or salaried.
  3. Enter your mobile number.
  4. Upload your KYC documents to complete loan application.
  5. Check your eligibility and get a loan offer.
  6. You will be contacted by the bank to complete all the remaining formalities.
  7. 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.