Fullerton India Home Loan Details

Highlights of Fullerton India Home Loan are as below:

Loan amount75 to 90% of the property cost
Rate of interest7.99 to 12%
TenureUp to 30 years
Lowest EMI possibleRs. 733 Per Lakh
Processing feeUp to 0.25% of the loan amount onwards + GST

Fullerton India Home Loan Benefits

Some benefits of signing up with Fullerton India Home Loan are:

  • Loans for various needs like purchase of a new/ resale house or plot, construction, improvement/ extension of the existing house and so on.
  • Loans available for all - salaried and self-employed people.
  • PMAY Home Loans subsidy for eligible customers
  • Hassle-free documentation process
  • Low interest rates, starting at 7.99 % p.a.

Fullerton Home Loan: Documents Required

Documents for Salaried Applicants

  • Identity Proof: PAN Card/ Driving License/ Employee Card/ Voter's ID
  • Residence Proof: Aadhaar Card/ Ration Card/ Property Tax/ Latest Water Bill/ Latest Piped GAS Bill/ Latest Electricity Bill.
  • Income Proof:
    • Salary slips of last 3 months
    • Last 2 years Form 16
    • Bank statement of last 6 months showing salary credit

Documents for Self-employed Applicants

  • Identity Proof: PAN Card/ Driving License/ Voter's ID
  • Residence Proof: Aadhaar Card/ Ration Card/ Property Tax/ Latest Water Bill/ Latest Piped GAS Bill/ Latest Electricity Bill.
  • Income Proof:
    • ITR of last 2 years with computation
    • Primary bank statement of last 6 months
    • Financials audited by CA wherever applicable 

Fullerton India home loan – Fees & Charges

Apart from interest rates, Fullerton India Home Loans also involve following fees and charges:

Type of ChargesDetails of Charges
Processing feesUp to 3% of the loan amount
Application fees
  • For loan amount equal to or below  10 Lakhs:  2,500
  • For loan amount above  10 Lakhs to  25 Lakhs:  3,500
  • For loan amount above  25 Lakhs to 50 Lakhs:  4,500
  • For loan amount above  50 Lakhs:  6,000
Documentation fees
  • For loan amount equal to or below  25 Lakhs:  1,500
  • For loan amount above  25 Lakhs:  3,000
Stamp fees
  • As applicable by state laws
  • If stamping is done by FIHFC: Additional 5% of the stamping amount will be levied
Fee for the conversion of the rate of interestUp to 0.5% of the outstanding principal amount
Cheque/ DDM/ NACH/ ECS bounce charges 500
Repayment mode swapping charges 600 per swap
CERSAI charges (non-refundable)
  • For Loans up to  5 Lakhs:  110
  • For Loans above  5 Lakhs:  210
Full/part prepayment charges
  • Within 12 months: 7% of the prepaid amount
  • After 12 months: 5% of the prepaid amount
  • Individual borrowers (primary & co-borrowers) under the floating interest rate: NIL
  • Non-individual borrowers (primary & co-borrowers) under the floating interest rate:  210
  • Semi-fixed interest rate loan:
    • 7% of the prepaid amount (For primary individual borrowers and co-borrowers) till the fixed rate tenure and no charges thereafter
    • 7% of the prepaid amount (For primary non-individual borrowers and co-borrowers) till the fixed rate tenure and 5% of the prepaid amount thereafter
  • Fixed rate for full tenure (except for individuals who make pre-payment out of their own sources):
    • Up to 60 months: 7% of the prepaid amount
    • After 60 months: 5% of the prepaid amount
Part disbursal per tranche fee 600
Charges for a duplicate statement of account/ NOC/ loan agreement 300
Charges for getting a photocopy of original property title deeds 1,000
Charges for the collection of cheque/ cash 500 per collection

Fullerton India Home Loan Schemes

Fullerton India offers the following types of Home Loans:

Home Loan

Home Loan for Buying a Home: This loan can be availed of for purchasing a new or resale house at an attractive interest rate and for a longer tenure. These Home Loans involve simple and easy processing. Fullerton India assures you of a fair deal with complete transparency and flexibility.

Home Improvement Loan: Everyone wants their home to look the best. To improvise their home, people give it new paint, decorate with new furniture, renovate the walls, and so on. Home Improvement Loans by Fullerton India help you to fund the expenses of renovating your house.

Home Construction Loan: Not everyone loves to buy a resale house. Some people dream of a house constructed as per their liking. The joy of constructing your own dream home constructed is incomparable. Fullerton India provides Home Loans for the construction of a home on a plot owned by you.

Home Extension Loan: Your family and needs for some extra space grow with time. People need extra space in their house to accommodate all their family members comfortably. With Fullerton's Home Extension Loan, you can add a bedroom, enclose an open balcony, build an extra room on the terrace, and fund other house extension projects.

Commercial Property Loan

Buy New or Resale Commercial Property: These loans are for purchasing a space for your business. If you have already identified or are in the process of identifying a space for your office, Fullerton India can help you with the entire work, starting from choosing a property till the payment of loan amount in full. Fullerton India provides loan for new as well as resale properties.

Construction of Commercial Property: Grihashakti provides loans for purchasing a commercial plot and constructing property on the same. If you have identified the plot, then we can assist you with the purchase of your dream plot and construction of property on the same.

Fullerton India Pradhan Mantri Awas Yojana (PMAY) 2021

PMAY is an interest subsidy Credit Linked Subsidy Scheme (CLSS). The government scheme aims at providing Housing for all (Urban). Home Loans are offered at a subsidised interest rate to the Economical Weaker Section (EWS), Lower Income Group (LIG), and Middle Income Group (MIG) for the purpose of purchasing, constructing, extending and improving the house. The maximum subsidy that can be availed under PMAY is  2.67 Lakhs for a maximum tenure of 20 years.

Eligibility criteria for PMAY scheme

  • The beneficiary family shouldn't own a pucca house in their name or in the name of any family member in any part of India.
  • If the applicants are a married couple, then both the spouses together (in joint ownership) or either of them is eligible for a single subsidy.
  • The beneficiary family shouldn't have availed of any benefit under any scheme in PMAY or central assistance under any housing-related scheme before from Government of India.
  • Women applicants (including widow and single working woman), transgender, SC/ST/OBC individuals, and individuals with disabilities are given preference.
  • Any adult earning member irrespective of their marital status is treated as a separate household.

Balance Transfer

With Fullerton India's Balance Transfer loan, you can lower your loan payment by transferring your outstanding balances of existing Home Loan to Fullerton India's Grihashakti. You can get an additional top-up on balance transfer.

Fullerton India Home Loan Features

Following are the features of Fullerton India Home Loan:

  • Loan amount: Up to 90% of the property; Rs 5 Lakhs to Rs 5 Crores
  • Fullerton India Home Loan interest rates are levied 7.99% p.a. onwards
  • Repayment tenure: Up to 30 years
  • Fullerton India Home Loan Processing Fees is nominal, starting from 0.25% of the loan amount 
  • Lowest EMI possible: Rs. 733 Per Lakh

Fullerton India Home Loan Eligibility Criteria

You should meet following eligibility criteria to qualify for Fullerton India Home Loan-

Eligibility Criteria for Salaried Applicants

  • The applicants must be employed with multinational companies/ listed public limited companies/ government/ organisations private limited companies/ partnership or proprietorship firms/ closely held or unlisted companies.
  • Co-applicant/ guarantor is mandatory

Eligibility Criteria for Self-Employed Applicants

  • The applicant must be self-employed individual/ businessperson/ sole proprietorship/ self-employed professional (doctor/architect/CA)/ partnership firm/ private limited companies/ closely held or unlisted companies.
  • Co-applicant/ guarantor is mandatory

Factors That Affect Eligibility for Fullerton India Home Loan

  • A regular source of income
  • Repayment capacity of the borrower
  • Age of the applicant
  • Good CIBIL score (preferably 650 or above) and clean repayment history
  • Availability of eligible co-applicant

Ways to Improve Your Eligibility for Fullerton India Loan

  • Choose a longer tenure to reduce the EMI (equated monthly instalment) amount
  • Apply for the loan with an eligible co-applicant having a steady income to increase your eligibility
  • Close your existing short-term loans (if any) to get better Fixed Obligations to Income ratio (FOIR).

Fullerton India Home Loan Interest Rates

The rates of interest for Fullerton India Home Loans vary greatly as per the loan amount and customer’s risk profile. 

The interest rates are based on floating interest rate. Currently the rate starts from 7.99% p.a.

Documents Required for Fullerton India Home Loan

ParticularsSalariedSelf employed
PROOF OF IDENTITYPan Card/ Voter's Card /Aadhar Card/ Driving Licence/ Employee CardPan Card/ Voter's Card /Voter’s Car
PROOF OF INCOME

Last 3 months Salary slips

2 years Form 16.

6 months bank statement with salary credit

Last 2 years ITR with computation

CA audited Financials where ever applicable

6 months primary bank statement

PROOF OF RESIDENCE

Aadhar Card

Latest electricity bill / piped gas monthly bill

Ration Card

Property Tax/Water Bill

Aadhar Card

Latest electricity bill / piped gas monthly bill

Ration Card

Property Tax/Water Bill

CO-APPLICANT OR GUARANTORMandatoryMandatory

Fullerton India Home Loan Comparison with Other Lenders

LenderMaximum Loan AmountMaximum TenureInterest RateProcessing Fee
Fullerton India Home LoanUp to 90% of property30 years7.99% onwardsUp to 3% of the loan amount + GST
ICICI Bank Home LoanUp to 90% of property 30 years6.75%-7.55%0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST
SBI Home LoanUp to 90% of property cost30 years6.70% - 8.05%Up to 0.50% + applicable GST
Axis Bank Home LoanRs. 5 Crores30 years6.90%-8.40%Up to 1%, minimum Rs.10,000
HDFC Home LoanUp to 90% of property cost30 years6.75%-7.65%Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes

How Much Home Loan Can I Get on My Property (LTV) from Fullerton India?

A Home Loan is a secured loan where the property for which you are applying for the loan is considered as Loan Security or Collateral. So the value of the property along with the marketability is an important eligibility factor for the loan amount. Each lender provides a percentage of this property value for financing property purchase and this is called Loan to Value (LTV) ratio. The remaining amount needs to be paid by the applicant as margin or down payment. 

Maximum LTV for Fullerton India Home Loans is 90% of the property's value. The broad LTV categorisation is as per following:

  • 90% of the cost of the property: For loan amount up to  20 Lakhs
  • 80% of the cost of the property: For loans between  20 Lakhs and  75 Lakhs
  • 75% of the cost of the property: For loans above  75 Lakhs

How to Calculate Fullerton India Home Loan EMI?

Calculating equated monthly instalment (EMI) for Fullerton India Home Loan is extremely easy and instant using MyMoneyMantra's online EMI Calculator. This calculator can help you in determining the most suitable EMI for the prospective loan.

You just have to follow three simple steps mentioned below to get the complete amortisation schedule:

  • Go to Financial Tools tab on MyMoneyMantra and click on EMI Calculator
  • Enter the Loan Amount, Rate of Interest, and Tenure (in months or years)
  • Click the Calculate button to get the result

Fullerton India Home Loan Repayment options

The borrower can repay the Home Loan at Fullerton India in affordable EMIs with easy repayment options such as Post Dated Cheques (PDCs) and Electronic Clearance Service (ECS) facility.

ECS facility: ECS or Auto Debit is one of the easiest methods to pay the EMI. The borrower must sign and submit the auto debit form or ECS mandate to instruct the bank to directly deduct the monthly EMI amount on the fixed date of every month. This will automatically debit the EMI monthly from the borrower's account at Fullerton India.

PDC facility: 

In the cities where ECS facility is not available, the EMI payment can be done with the help of Post Dated Cheques (PDCs). The borrower has to submit 36 monthly cheques to the Fullerton India and submit fresh cheque prior to the expiry of old ones or when required by Fullerton India.

FULLERTON INDIA Home Loan - Customer Care

For any Housing Loan query, you can contact Fullerton India Customer Care at their following Toll-Free numbers:

+1800 102 1003

Timings: 9.30 a.m. - 6.30 p.m. (from Monday to Friday) and 9.30 a.m. - 3.00 p.m. (on Saturday)

*Excluding public holidays

You can also email at:

grihashakti@fullertonindia.com

Corporate Office Address:

Fullerton India Home Finance Company Ltd.

Supreme Business Park, Floors 5 & 6, B Wing,

Powai, Mumbai 400 076

Tel: +91 22 6749 1234

View and improve your credit score - for free.

Know how good your score is

Get insights on how to improve it

Unlock offers as per your score

chart_15f235bf64 (1).svg

The best offers from India’s most
trusted banks

Axis-Bank.png
DMI-Housing-Finance.png
PNB-HFL.png
ICICI.png

Best Value Home Loans

MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.

Fullerton India Home Loan

✅ Which type of property can I purchase with Fullerton India Home Loans?

You can purchase a new or pre-owned residential or commercial property with Fullerton India Home Loans.

✅ Can I transfer the outstanding balance of my existing Home Loan from another bank to Fullerton India?

Yes, you can transfer the outstanding balance amount of Home Loan from another lender to Fullerton India through their Balance Transfer scheme.

✅ What is the maximum loan to value (LTV) offer by the Fullerton India?

The LTV for Fullerton India Home Loan is as follow:

  • 90% of the cost of the property: For loan amount up to  20 Lakhs
  • 80% of the cost of the property: For loans between  20 Lakhs and  75 Lakhs
  • 75% of the cost of the property: For loans above  75 Lakhs

✅ Can I add my spouse's income with mine to avail Fullerton India Home Loan?

Yes. You can add the income of your spouse and parents with yours to increase your Home Loan eligibility at Fullerton India.

✅ What are the parameters considered by the Fullerton India to calculate my Home Loan eligibility?

 Fullerton India considers following parameters to calculate your Home Loan eligibility:

For Salaried Applicants

  • Applicant must be an employee of multinational companies/ listed public limited companies/ government/ organisations private limited companies/ partnership or proprietorship firms/ closely held or unlisted companies.
  • Co-applicant/ guarantor is mandatory

 For Self-Employed Applicants

  • Applicant must be self-employed individual/ businessperson/ sole proprietorship/ self-employed professional (doctor/architect/CA)/ partnership firm/ private limited companies/ closely held or unlisted companies.
  • Co-applicant/ guarantor is mandatory
  • Age: The age of the applicant must fall under the mentioned age criteria by the lender
  • Decent CIBIL score of 650 or above and good repayment history
  • Availability of an eligible co-applicant (spouse/parents/other acceptable relations)

✅ Can I prepay my Fullerton India Home Loans?

Yes, it is possible to opt for prepayment of your Fullerton India Home Loan. Here are the applicable charges for the same:

Full/part prepayment charges
  • Within 12 months: 7% of the prepaid amount
  • After 12 months: 5% of the prepaid amount
  • Individual borrowers (primary & co-borrowers) under the floating interest rate: NIL
  • Non-individual borrowers (primary & co-borrowers) under the floating interest rate:  210
  • Semi-fixed interest rate loan:
    • 7% of the prepaid amount (For primary individual borrowers and co-borrowers) till the fixed rate tenure and no charges thereafter
    • 7% of the prepaid amount (For primary non-individual borrowers and co-borrowers) till the fixed rate tenure and 5% of the prepaid amount thereafter
  • Fixed rate for full tenure (except for individuals who make pre-payment out of their own sources):
    • Up to 60 months: 7% of the prepaid amount
    • After 60 months: 5% of the prepaid amount

✅ What is the maximum tenure available for the repayment of Fullerton India Home Loan?

The Fullerton India Home Loan can be repaid in maximum tenure of up to 30 years.