Fullerton Home Loan - 9.50% for Loan Against Property - Loan Against Commercial Property

Fullerton Loan against Property:

Fullerton India Loan against Property, offers loans starting from 9.50% p.a. onwards* onwards with the quick approval.

The bank offers special features and attractive rates for different income and occupation groups.

Loan Amount	Up to Rs. 12.5 crore
Interest Rate	9.50% p.a. onwards*
Tenure	15 years
Processing Fee	Up to 3% of the loan amount

 

 

 

 

 

 

 

Fullerton Loan against Property key features:

 1. Attractive interest rate starting at 9.50% p.a. onwards*

2. Long repayment tenure of up to 15 years

3. High loan value of up to Rs. 12.5 crore

4. Residential and commercial properties as collateral are accepted

5. Quick loan processing

 

Factors Affecting Fullerton Loan against Property Interest Rates:

Loan amount: 

Property loan rates in Fullerton depend upon the loan amount you apply.

 

Your Net Monthly Income: 

Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.

 

Type of loan opted for: 

Fullerton offers differential rates for customer’s different profiles and also fixed and floating rate schemes.

Loan against property interest rates may be higher or lower for special loan products.

 

Type of property: 

Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.

 

Your profession:

Fullerton may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman.

A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or

business compared to salaried people who will most likely take a mortgage loan for his personal Purposes.

 

Fullerton Loan against Property Documents Required:

For Self-Employed:

1. Filled up loan application form

2. Two Passport Size Photo

3. ITR of last 3 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of

Business existence and business profile

 

For Salaried employee:

1. Filled up loan application form

2. Two Passport Size Photo

3. ITR of last 2 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Income Documents – 6 months’ pays lip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

 

Property documents:

1. Registered Sale Deed/ Conveyance/ Lease Deed

2. Past Sale Deeds Chain (each transaction in respect of this property since first allotment

3. Latest House Tax Return/ Receipt

4. Approved Building Plan from Municipal Corporation

 

Fullerton Loan Against property Types:

1. Fullerton Commercial Property Purchase Loan:

Additional benefit on the part of commercial players is to acquire a loan to purchase any property meant for business purpose in an easy manner.

This is being done to purchase a spacious and big size property at a preferred choice of location for business purpose.

 

2. Fullerton Lease Rental Discounting Loan(LRD):

Sometimes borrowers have this dilemma of not paying EMI to bank especially in case of fiscal emergencies.

At such times, Lease Rental Discounting Loan could be your ideal resort to arrange funds with no such hassle to pay off EMI on your own.

This means to say that, any commercial or personal entity owing a property which is rent for a stipulated period of time can apply for LRD for that particular time duration and pay off rent as EMI to the bank.

It is a beneficial deal on the part of landlords to arrange funds from a trusted financial institution by depositing rent as EMI with no such problem at all.

 

3. Fullerton Lease Rental Discounting Loan:

You need not to pay EMI out of own pocket as monthly rent will be treated as easy instalment.

As per the tenure of rented property, one can apply for this loam with no such confusion at all.

Additional discount will be given to borrowers that apply for this particular loan scheme.

 

4. Fullerton LAP Balance Transfer:

One of the trusted financial institution called Fullerton not just offers loan against property for personal as well as for commercial usage.

But, it also allows borrowers to go for balance transfer to any other choice of their bank in case rate of interest is higher with the previous one.

This is being indicated as ideal set of flexibility given by Fullerton for the sake of their clients.

 

Frequently Asked Questions:-

Q. How much property loan can I get through Fullerton loan against property?

Ans. Fullerton India offers loans up to 70% of the property’s current market value (commercial properties) and up to 60% for residential properties.

 

Q. How much CIBIL score is required for Fullerton loan against property?

Ans.  A minimum CIBIL score of 700 is a must to avail a loan against property.

 

Q. What is the interest rate for a Fullerton loan against property?

Ans. The Fullerton loan against property interest rate ranges from 9.50% p.a. onwards* based on multiple parameters like net income, income stability, type of

employment, existing monthly obligations and market value of property.