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Fullerton India Loan Against Property

Loanmani- Fullerton India

Fullerton India offers Loan Against Property (LAP) as a financing option for individuals who own a property and require funds for personal or business purposes. LAP is a type of secured loan where the borrower pledges their property (residential or commercial) as collateral against the loan.

The loan amount offered by Fullerton India for LAP is determined by the value of the property being pledged and the borrower's repayment capacity. The bank typically offers up to 75% of the market value of the property as the loan amount, and the repayment tenure can range from 5 to 15 years.

11.00 %

Advertised Rate

15 Years

Available Terms

750

Credit Score

5 L - 50 L

Loan Amount

Why Choose Fullerton India

  1. Competitive interest rates
  2. Quick loan disbursal
  3. Flexible repayment options
  4. Easy documentation
  5. Transparent fee and charges


Fullerton India Eligibility Criteria

  1. The applicant must be a resident of India.
  2. The applicant must be at least 21 years old.
  3. The maximum age limit for salaried applicants is 60 years, and for self-employed applicants, it is 65 years.
  4. The applicant must have a regular source of income.


Fullerton India Fees & Charges

  1. Processing fee: Up to 3% of the loan amount.
  2. Late payment charges: 2% per month on the overdue amount.
  3. Prepayment charges: Up to 7% of the outstanding principal amount.


Fullerton India Features & Benefits

  1. Loan amount: Fullerton India offers loans against property ranging from Rs. 5 lakh to Rs. 10 crore.
  2. Tenure: The loan tenure ranges from 3 years to 15 years.
  3. Quick disbursal: Fullerton India offers quick loan disbursal within 48 hours of loan approval.
  4. Balance transfer: Fullerton India also allows customers to transfer their existing LAP from other lenders to Fullerton India to avail of lower interest rates and better terms.
  5. Flexible repayment: Fullerton India offers flexible repayment options to customers, including step-up, step-down, and bullet repayment options.
  6. Online account management: Customers can manage their loan account online through Fullerton India's customer portal.


Fullerton India Required Documents

  1. Application form with photograph
  2. Identity proof
  3. Address proof
  4. Income proof
  5. Bank statements for the past 6 months
  6. Property documents


FAQs on Fullerton India Loan Against Property

Q: What is a Loan Against Property? 

A: A Loan Against Property (LAP) is a type of secured loan where the borrower pledges their property (residential or commercial) as collateral against the loan.

Q: What is the eligibility criteria for a Loan Against Property from Fullerton India? 

A: The eligibility criteria for a Loan Against Property from Fullerton India include:

  • The borrower should be a resident of India
  • The borrower should be aged between 21 and 65 years
  • The property being pledged should be owned by the borrower and should have a clear title
  • The property should be free from any legal disputes or encumbrances
  • The property should meet the valuation criteria set by Fullerton India

Q: What is the loan amount offered by Fullerton India for a Loan Against Property? 

A: The loan amount offered by Fullerton India for a Loan Against Property depends on various factors such as the value of the property being pledged, the borrower's income and repayment capacity, and the purpose of the loan. The bank typically offers up to 75% of the market value of the property as the loan amount.

Q: What is the interest rate charged by Fullerton India for a Loan Against Property?

A: The interest rate charged by Fullerton India for a Loan Against Property depends on various factors such as the loan amount, the repayment tenure, the borrower's credit score, and the market conditions. The interest rate can range from 8.75% to 12.25% per annum.

Q: What is the repayment tenure offered by Fullerton India for a Loan Against Property? 

A: The repayment tenure offered by Fullerton India for a Loan Against Property can range from 5 to 15 years depending on the borrower's repayment capacity and the purpose of the loan.

Q: Can I prepay my Loan Against Property from Fullerton India? 

A: Yes, you can prepay your Loan Against Property from Fullerton India. However, the bank may charge a prepayment penalty depending on the terms and conditions of the loan agreement.

Q: What are the documents required to apply for a Loan Against Property from Fullerton India? 

A: The documents required to apply for a Loan Against Property from Fullerton India include:

  • Identity proof such as Aadhaar card, PAN card, passport, or voter ID
  • Address proof such as Aadhaar card, utility bills, or rental agreement
  • Property documents such as sale deed, title deed, and tax receipts
  • Income proof such as salary slips, bank statements, and income tax returns

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