Fullerton India Home Loan EMI Calculator

Fullerton India is considered as one of the most popular NBFCs in the country. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings that is established in Singapore. Home Loan is one of the many products offered by Fullerton India.

Grihashakthi a fully owned subsidiary of Fullerton India with its headquarters at Mumbai helps you fulfill your ambition of owning a home with the help of the home loan that is provided for both salaried as well as self-employed individuals.

Grihashakthi offers Home Loans for the purchase of a row house/flat/independent house and construction of a house or purchase of a plot and construction thereon. A loan will be given even for repair./remodelling/expansion of your existing home. Loans will be provided for the purchase/construction of commercial property also.

You can also Apply for Bank of India Home Loan and check EMI, Interest rate and Eligibility Online to avail offer.

Fullerton India offers home loans for the purchase of a flat/house, construction of a house, purchase of a plot and construction thereon and for repairs/renovation/expansion of the existing house. Home Loan Balance Transfer facility is also provided.

Home Loan Eligibility: 

• For Salaried:
  • Multinational cos / listed public ltd cos / govt.
  • Organizations private ltd cos / closely held or unlisted companies / partnerships /proprietorship firm
• For Self-Employed:
  • Self-employed individual businessmen/ sole proprietorship 
    Self-employed professionals - doctors /architect's / CA’s 
    Partnership firms
  • Private limited companies/ closely held/ unlisted companies

Quantum: up to 90% of the value of the property

Interest Rate: 9.50% p.a.

Repayment: Maximum repayment period 30 years

Fees:

• Processing Fees - upto 3% of the loan amount
• Documentation Fees - Between INR 1500-3000 depending on loan amount
• Application Fees - Between INR 2500-6000 depending on loan amount
• Duplicate document (like Loan agreement, etc.) - INR 500 per document set

You can now Apply for 25 Lakh Home Loan. Check EMI & Compare Interest Rates Online.

The lowest EMI as on date is Rs. 841 per lakh for Fullerton India Home Loan. The rate of interest for Fullerton India Home Loans starts at 9.50% p.a.

Check Best Home Loan Interest Rates starting @8.50% from different banks and NBFCs.

Make it a point to use the EMI calculator before applying for a home loan as it has many benefits.

100% Accuracy: Calculating the home loan EMI is very crucial as your whole budget planning depends on the EMI so arrived. The calculations are very complex if it has to be done manually and there are chances of errors in the calculation. The erroneous EMI arrived may result in the wrong choice of a home loan. Instead of relying on the manual calculation, you should use the Home Loan EMI Calculator which will give you a 100% accurate result in a matter of a few seconds.

Saves time: You can arrive at the EMI by applying the formula provided for the EMI calculation. But the whole process is so tedious since it involves complex calculations. While calculating EMIs for various combinations there are chances of committing a mistake. The values arrived at manually are not 100% accurate. Whereas if you use an EMI calculator you can be assured of accurate results within few seconds. Using an EMI calculator for the complicated calculation will save your valuable time.

Helps plan your budget: Since there is no bar on the number of times the EMI calculator can be used, you can try various combinations as per the offers from different lenders till you arrive at an EMI that is comfortable on your pocket and which does not disrupt your monthly budget.

Enables comparison of quotes: A list of different quotes based on your eligibility and requirement will be displayed once you arrive at the affordable EMI using the EMI calculator. You can make the right home loan choice with the loan tenure, principal amount and the rate of interest featured specifically for each quote.

Additional Info: Also Apply Home Renovation Loan

The variants that are required to calculate the EMI are the loan amount, loan tenure and the rate of interest and obviously, these are the three variants that affect the EMI.

Additional Info: You can also check Best Home Loan Interest Rates

Rate of interest: If you want to have a constant EMI throughout then you should opt for a fixed rate of interest. The EMI will remain constant for a period of 3 to 5 years. On resetting the rate of interest after 3 to 5 years the EMI will change. You can plan your monthly budget if you are certain about the EMI every month. In this case, at least for a period of 3 to 5 years there will be a fixed commitment towards the home loan.

In the case of a floating rate of interest, the EMI will change as and when the rate of interest changes. If the interest is high, the EMI will be high and if the interest is low, the EMI will be low.

Loan amount: The EMI will largely depend on the loan amount required. If the loan amount is higher the EMI will be higher and if the loan amount is lower the EMI will be higher. Once the EMI is arrived at you will know your eligibility. If the eligible loan amount is not adequate for your project, you can avail the loan in joint names. Income of the joint borrowers will be considered and so the affordable EMI will increase and so also the loan amount.

Tenure: Choose the tenure prudently since the cost of the loan depends on the tenure. The longer the tenure the higher will be the interest cost. If you are in the age bracket of 30 to 40 years, you go for a higher tenure at the time of availing the loan to improve your eligibility. Subsequently, if you have any surplus funds you can make periodical pre-payments along with the regular EMI to bring down the tenure and the cost of the loan.

Pre-payment: Use a pre-payment calculator before making any pre-payments to understand the effect of the pre-payment on the EMI. On the pre-payment of the loan, the outstanding principal balance will reduce to that extent. If you are making the pre-payments with an intention to pay off the loan earlier, then keep the EMI constant and go for a reduction in the tenure. But if you intend to lessen the burden on your monthly budget, you can go for resetting of the EMI which will reduce.

Step-up EMI: The EMI will gradually increase as the period progresses with the step-up EMI where the EMI will be kept low at the time of the disbursement of the loan.

Additional Info: Also check Rs. 1 Crore Home Loan EMI

You will have to consider a few things for deciding the right EMI

Additional Info: Looking for 40 Lakh Home Loan? Check EMI & Apply.

• Plan your EMI: You can plan your EMI according to the surplus funds available out of your monthly income after providing for your present commitments. If you can afford a higher EMI you can in for a shorter tenure and reduce the cost of the loan. If the affordable EMI is low then you can go in for a longer tenure.
• Margin: None of the lenders will fund the project 100%. There is always a percentage of down payment that will be required to be brought in by the borrower from his/her own sources. This down payment is the margin stipulated by the lenders. The margin may vary between 10% to 30% of the market value of the property to be acquired out of the home loan. If you intend to avail the loan from a lender whose margin stipulation is low, then you might have to pay a higher rate of interest which means higher EMI.
• EMI/NMI: Normally the EMI should not be more than 30% to 50% of the net income after providing for all the existing commitments. So if you have to improve the ratio you will have to plan to clear some of the outstanding dues.

Additional Info: Also check ICICI Home Loan EMI Calculator

EMI largely depends on the rate of interest charged to the loan. There are various types of interest charged and the EMI will fluctuate depending on the type of interest you have chosen.

Additional Info: Looking for 50 Lakh Home Loan? Check EMI & Apply

Fixed-rate of interest where the interest will remain fixed till a certain period and thereafter will be reset at the prevailing rate. The EMI will remain constant until the interest is reset. At the time of resetting, if the rate of interest is lower than the earlier rate, then the EMI will also reduce. If the rate of interest is higher than the earlier rate, then the EMI will increase.

Floating rate of interest where the interest will change whenever a change in the rate of interest is announced. This fluctuation will happen several times during the loan tenure. Every time the rate of interest changes, the EMI also changes. If the rate of interest is low then the EMI will reduce and if the rate of interest is higher, then the EMI will be higher.

Semi-fixed rate where the interest will be fixed for a certain period and thereafter converted to a floating rate, the interest will be fixed for a certain period and thereafter it will be converted into a floating rate of interest. The EMI will be constant till the rate of interest is fixed and thereafter will fluctuate as per the rate of interest fluctuation.

Additional Info: Also Check Plot Loan