Author: SMFG India Credit

SMFG India Credit http://financenews.wordpress.com SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.), is registered as an NBFC - Investment and Credit Company (NBFC-ICC) with the Reserve Bank of India, and is a member of SMBC Group. SMFG India Credit started its India operations in 2007, and is today a leading NBFC with a pan India presence. Working together with over 16,500 employees, we reach our market by connecting with around 3.2 million customers, be it in cities, towns or villages, right at their doorstep. We penetrate deep inside the market through more than 729 branches, covering 600 towns and approximately 65,000 villages.

Situations In Which You Can Take a Personal Loan

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Personal loans come in handy in multiple situations. As it is unsecured loan and collateral free, this is the reason for its popularity. Here are a few instances where taking quick personal loans might turn out to be beneficial:

Medical emergencies

If your medical insurance fails for some reason, or you don’t have money to pay for your or a loved one’s treatment, personal loans can come in handy. They are disbursed extremely quickly when taken from NBFCs, and it would be easy to pay off the EMIs over the next few months. Additionally, it also ensures that the people you care about get the medical treatment that they deserve.

Holidays

Everyone has got a dream holiday destination they yearn to visit one day. This can be Nigeria, France, Spain, Singapore, or even Disney World! Taking a personal loan if you would be unable to pay for the vacation out-of-pocket would be a good choice. You can get funds up to 25 lakhs, and the EMI payment makes it easy to return the money after your travels.

Business

If you have faith in a business idea and are confident that it will serve you well, don’t hesitate before taking a personal loan for it. This helps you finance this idea of yours in a relatively stress-free environment, focusing more on your work. When your business takes off, you can repay the loan at the earliest to avoid further expenditures on interest.

Weddings

The potentially most important day in your life could be made magical by taking a personal loan for it. You can ensure that you have the products and services of the highest tier and make it a night that none of your guests would be able to forget.

Have your personal loan documents handy– they can come to good use.

Additional Read: How to Select Right Type of Personal Loan for Yourself?

5 Reasons Why to Apply for the Personal Loan

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A personal loan is beneficial on many counts: it may help pay for unplanned expenses like weddings, medical emergencies, starting up a business, or other necessities. However, before you apply for such a loan, you must figure out an EMI amount that would be payable for you. You may use a personal loan EMI calculator to figure out the exact amount, but here are a few guidelines to go by:

Your monthly salary

Before applying for an instant personal loan online, you should factor in your monthly salary. To manage your other expenses, your EMI should be your salary minus your monthly expenses. An industry thumb rule is that EMI should never exceed half of your salary for the month.

Monthly expenses

You cannot cut back on your necessary monthly expenses such as food, water, electricity, rent, clothing, toiletries, etc. You must have a general estimate of this amount as well as some sort of leeway in case your calculations have gone wrong.

Any pending loans

Another thing to consider before finalizing your personal loan EMI amount is your already pending loans. If you have another loan of any sort – either another personal loan, home loan or a loan against property – the EMI for all these loans should not exceed half of your monthly salary, as mentioned above.

Payback capability of the object

It is advisable to not take personal loans for anything that doesn’t guarantee a certain amount of payback. This payback can be personal or financial. For example, taking a personal loan for a business gives some sort of payback.

Number of working years left

Your EMI should have ended before your retirement. Even otherwise, you must have enough money in savings to sustain yourself through your non-working years.

Try to keep in mind the aforementioned points while applying for a personal loan online. It will no doubt help you in the long run.

Additional Read: Does Credit Score Affect Your Personal Loan Application?

Things to Keep in Mind Before Getting a Personal Loan

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Taking a personal loan can be a long, complicated process, and it is important to get your research done before requesting one. Find below a few things you should keep in mind before applying for a personal loan are listed below:

Credit score

This score lies between 300-850, and it tells lenders about someone’s credit history, which comprises things like open accounts, payment history, pending loans, defaults, etc. This score is an important criterion for the borrower to get a personal loan. The higher the credit score, the better the borrower looks to potential lenders. This means that the chances of getting their loan sanctioned become better.

Collateral

Many lenders require you to pledge valuable assets (also known as collateral) when taking a secured personal loan. If, for any reason, you are unable to pay as per the plan decided, the bank can take possession of the collateral and recover the balance of the loan. However, many personal loans are unsecured, which means that they may not require any collateral.

Relevant documents/forms

Some documents required for your application are:

Loan application: To provide details on the nature of the loan, such as the amount required and the purpose of the loan, amongst others.
Identity proof: Any proof of identity that has been provided to you by the government.
Proof of address: This might overlap with identity proof, and it includes proof of home or the lease agreement.
Employment proof: If you’re employed, lenders need this to verify your payback abilities.

Always perform a comparison of personal loan rates of various financial institutions before you finalize. An infinitesimal interest advantage can help you save a lot of money in the long run.

Must Read: How to Get a Good Interest Rate On A Personal Loan?

Why You Should Take a Personal Loan to Pay for Your Wedding Expenses

Getting married is an important step in life. It is a truly joyous occasion when you have close friends and family with you to celebrate this stepping-stone. Weddings, on principle, are magical in themselves. But there are various other ways you can make it even more special.

Here are a few reasons taking a personal loan may benefit you while planning for your wedding.

It is a quick and easy process

Filling out an online personal loan application is something that doesn’t take a lot of your time, and such loans also get approved quite easily. The eligibility criteria are simple and hassle-free, and funds are disbursed within a short period.

Easy repayment

Taking a loan on EMIs is easy to manage and plan. You may already have a percentage of your monthly salary you’re taking out to pay your EMIs, which helps you plan your finances better. Since you already know your estimated monthly amount, it is also possible to pay off the loan earlier, to save on spending excess money on interest.

Have your dream wedding

This is maybe the most important part of borrowing money to pay for your wedding – that it be one of the best nights of your life. You can have your wedding as you’ve always envisioned it to be, with a designer lehenga, exquisite venue, and delicious food.

Flexible amount

Lending institutions allow you to withdraw high sums of money, and this allows you to be quite flexible in your spending. If you have money from the loan left over after paying for the wedding expenses, you can channel it towards paying back the loan or other personal expenses.

What are you waiting for? Fill out an online personal loan application now, have the wedding you’ve always wanted to have.

Must Read: Does Fullerton India Personal Loan Help you to Deal With a Coronavirus-led Financial Crisis?

Some Things You Need to Know Before Applying For a Business Loan

Innumerable people nowadays have their own businesses. Some of these are successful, some are not. Multiple things can go wrong while setting up a business, particularly in the financial aspect, and it will do well to know a little about business loans while financing your company.

Start-ups versus businesses

You must understand that for business loans in India, generally, businesses should have been operational for 2-3 years before applying for a loan. If you have a startup, consider taking a personal loan instead. Business loans for startups rarely get approved. Several criteria for getting a business loan depend on certain outcomes of a particular business, which a startup would be unable to provide. Startups can also look at the option from borrowing from friends or family, or selling assets.

Loan amount

Estimate the amount of money you’ll need before applying for a loan. Even otherwise, you mustn’t borrow more than you will be able to repay. Doing so might land you in a risky situation, even with the risk of losing your business. The interest rate on your business loan must be payable for you.

Eligibility criteria and required documents

The specifics of this point vary according to different lenders, but you must research to make sure that you meet the eligibility criteria of the organization you are borrowing from. It will also do well to keep all the required documents ready to avoid any complications down the line.

Business loans are certainly an effective and easy solution while dealing with difficulties in your business. It is also important to keep in mind the above before applying for a business loan in India.

Must Read: Here Is How You Can Maintain An Excellent Credit Score For Your SME

What is a Working Capital Loan?

Running your own business can be a challenging task at times, but otherwise, it can be truly joyous. It is a special kind of happiness, seeing all your hard work paying off when your business achieves its goals. Imagine the success you have always dreamed of when you’re able to hold your manufactured product (or service) in your hand.

However, numerous people face trouble when they launch their businesses. They may require a working capital loan to keep their business stay afloat.

What is a working capital loan?

Before launching your business, you may have already invested in some fixed assets like machines, equipment, factory, or other installations. However, there is also a need for some liquid money to manage the day-to-day requirements of your business. These costs may include paying your employees’ salary, rent, operational causes, or sustaining your business through a dry spell.

Eligibility for a working capital loan

Here are some requirements for such a business loan – these are generally the requirements laid down but may vary across different lending institutions:

You must be over 25 years of age but under 65 years.
The tax returns of your business should have already been filed for that time frame.
The nature of your business should be something that needs constant cash flow to meet its working capital.
The exact amount may vary from bank to NBFC (non-banking financial company) to NBFC, but you may not get a loan if your annual turnover was higher than a certain amount.
Your business should have been up and running for a minimum of 2-3 years.

While this is not a requirement, having a good CIBIL score goes a long way in securing a loan for your business.

Must Read: How To Make Working Capital Work For Your Business?

Buy your Dream House to Help of Personal Loan

For countless people, buying their own house is a lifetime dream. This may be because of the pride of ownership or watching its value appreciated, amongst other things. Either way, it is a milestone and can be a turning point in the lives of many people.

So, you have a house. What else is there to do now except make it home? If you’re taking a personal loan (https://www.fullertonindia.com/personal-loan.aspx), here are a few ways you can put the money to good use for the same.

Basic kitchen appliances

The move into a new house can be hectic and tiring, but it isn’t possible to sustain yourself on takeout forever. It is, therefore, crucial to buy a good fridge, a stove or an induction system, a mixer, and enough utensils. Not only are these investments, but they will also be there with you as and when your family grows.

A sitting arrangement

A basic sofa set and a small center table are a must-have for any house. Such an arrangement in your living room gives you the feeling that yes, the house is indeed yours. It gives you space to simply exist with your loved ones, reveling in that enjoyment of their company. If you cannot afford a brand-new sofa set, there are multiple options to buy it second-hand or at an auction.

A space to sleep

Having a good, comfortable sleeping space is one thing that can truly make your house feel like a home. Invest in a good-quality, sturdy bed frame, and a comfortable mattress. A good night’s sleep is crucial, and isn’t that also a way to celebrate your new home?

Some basic furniture

You’ll need to keep adding furniture to your home over the years, but when you’re starting, there’re a few things you should have. This includes a wardrobe, a dressing table, and even a study/work table.

You should also make use of a personal loan calculator if doing the above. Buying a house is a financially important part of your life, and using one can help plan your finances better.

Must Read: Reasons why to opt for Fullerton India Instant Personal Loan

When Medical Insurance Fails: Take a Personal Loan

A personal loan always comes in handy in medical emergencies. When your medical insurance is inadequate to cover the cost of hospitalization of either yourself or a loved one, fill out an online personal loan application. Here are a few reasons why it may be beneficial:

Instant funding

Online lenders often disburse personal loans within a minute of request. The terms and conditions might differ from NBFC (Non-Banking Financial Companies) to NBFC, but you generally get the loan very soon after requesting it.

Repayment in EMIs

Instead of taking money out from your FDs and savings, take a loan that you can pay off of your salary over the next six to twelve months. This reduces the stress of instant repayment and allows you to spend extra hassle-free time with the people you love. However, be careful about the personal loan interest rates – having an extremely high one might make it difficult to return the money in a timely fashion and an unnecessary cost to you.

Good quality medical care

Taking a personal loan ensures that you’re able to provide the best medical facilities to those affected. Good medical care can be the difference between life and death. Thus you must get consultations/operations from the best doctors.

As you can see above, taking a personal loan in such a dire situation can end up having multiple benefits.

Must Read: Get a Personal Loans For Your Perfect Holiday

Why You Should Plan Your EMIs Before Taking a Loan

While taking an instant personal loan online may have its host of benefits, you must calculate your EMIs before finalizing the loan. This allows you to estimate the total amount of the loan it will be possible for you to withdraw, as well as knowing the interest rate on the loan.

Elaborating on the above, find below a few reasons why you should plan your EMIs before taking a loan:

Allows you to estimate how much money you need to borrow

Using a personal loan EMI calculator, it becomes easy to calculate the sum of money for the loan that you will be able to return monthly.

Prepayment is possible

Since you already may have your EMI amounts jotted down, it becomes easy to pay off the loan sooner if you get a salary raise or an unexpected bonus. This saves you from returning more money to the lender since you cut down on interest this way.

Calculating repayment

Taking an instant personal loan online may help you in emergencies, but this plan can backfire if not done correctly. You must be comfortable with the amount you have to give back each month. For this, you must factor in your monthly salary, your monthly expenses, any pending loans you may have, and the number of working years you have left.

Hence, it may be visible that planning out your EMIs before borrowing money can grant you an easier financial life overall. Using a personal loan EMI calculator also makes this quite easy.

Must Read: Simple Tips To Select The Best Personal Loan

3 Benefits of Personal Loans

Personal loans are a form of quick loan which can be used for any purpose such as paying for weddings, holidays or starting a business. Here are some benefits of applying for a personal loan:

Rapid disbursal / Quick disbursal of funds

A lot of online vendors disburse loans within 24 hours of receiving a request. This rapid disbursal is ideal if you have an urgent need for funds, or if you’re facing an emergency.

Must Read: What Are Short Term Personal Loans?

No collateral required

Since personal loans are mostly unsecured, you do not need to pledge any of your assets. This helps in making personal loans accessible to everyone.

Fewer documents needed / Hassle-free Documentation

Applying for a personal loan online is a wholly paperless process – all documentation happens online. Here are the documents you may need, depending upon the financial institution you are applying from:

Loan application: To provide details on the loan, such as the amount required and the purpose of the loan, amongst others.
Identity proof: Any proof of identity that has been provided to you by the government.
Proof of address: This might overlap with identity proof, and it includes proof of home or the lease agreement.
Employment proof: If you’re employed, lenders need this to verify your payback abilities.
Income tax returns.

Using a personal loan calculator may be of assistance. It helps you estimate the sum of money you will need to pay in each EMI installation, which will no doubt help in planning your finances better.

Tips to keep in mind before applying for a personal loan

A personal loan is the money borrowed to fulfil one’s financial needs or wants, which is to be repaid with interest over a fixed period. Personal loans can be taken to meet various needs and wants. However, it is important to evaluate beforehand how crucial it is for you to take the loan and the level of comfort and surety you have about paying it back.

How much you need

Calculate the exact amount of money you need for a personal loan in India before sending a request. Assess your needs and evaluate if you can repay the loan.

Payback time frame

You should know the time frame within which you need to pay back the loan. It will do well to finance how much you need to pay per month before borrowing the money. You should be able to afford the monthly payment as per the scheme you have opted for.

Consider alternate options

Personal loan interest rates in India are very high, and they are one of the most expensive forms of loans. Thus, consider opting for alternate options such as loans against fixed deposits or loans against shares. Evaluate the rate of interest, duration, and tenure before making a choice.

The urgency of the money

After requesting the loan, you may need it anytime between the same day to a couple of weeks. Accordingly, choose the banker you’re going to avail the loan from. Ensure to check with them the time taken from the application to disbursement.

It is recommended that you keep the above tips in mind before availing of a personal loan for an easier payback journey.

Additional Read: Applying for a Personal Loan? Use Fullerton India EMI Calculator First

Four Reasons Why to Take a Property Loan

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Taking a loan against property is an excellent choice for individuals moving into a new home. It provides a host of benefits, including a higher loan amount, longer tenure, low-interest rates, and relatively quick disbursement. Here are a few things you must know before taking a property loan.

Four Reasons Why to Take a Property Loan

Repayment

Since LAPs have a higher tenure and a considerably low-interest rate, the repayment schedule is more or less flexible. You may pay the loan off early to prevent giving a lot of money in floating interest rates, but even otherwise, you can repay the loan between one to ten years.

Application

Try to research the eligibility criteria and documents required in reference to the NBFC you are borrowing from. The criteria and loan against property documents required may vary from company to company, but make sure that you have all the right documents and proofs in place before applying for the loan.

Repayment capacity

This point is somewhat related to the application process, but a crucial step of getting a loan against a property is that the lender must be convinced that you will be able to pay back the loan. For this, the applicant must be a salaried individual or self-employed. The NBFC may need documents such as income statements, repayment history, CIBIL score, ongoing loans, etc.

Ownership

Even though the lender will ask you to submit the property documents at the time of loan approval, you remain the property owner. But, you must make a list of all the documents that you are submitting. Also ensure you have photocopies of the documents. When your loan is repaid, ensure the lending company returns all the documents to you.

A property loan may help finance your kids’ education, a wedding, or medical emergencies if needed.

Additional Read: Factors Affecting Loan Against Property Eligibility (Best of 8)

What is Loan Against Property- Its Checklist, Benefits?

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You may have heard of personal loans, home loans, and business loans, but a loan against property is also an important option you must consider. Here are some details regarding a LAP.

What is a Loan Against Property?

A loan against property (or LAP) is a type of loan wherein the vendor keeps the borrower’s asset with them as a mortgage until the loan is repaid. This is a type of secured loan, and may be used for properties like land, house, or other premises.

Benefits of loan against property

Here are some advantages of taking a loan against property:

You can get a higher loan amount.
The tenure may be longer, so you have more time to pay back the loan.
Loan against property interest rates is also considerably lower when compared to the interest rates of other types of loans.
Even though the loan provider may keep the asset with them for mortgage purposes, the ownership of the property remains with the borrower.

Eligibility criteria and documents

Here are some of the eligibility criteria and required documents to withdraw a loan against property:

The borrower must be a salaried individual or self-employed.
A copy of the property documents must remain with the lender.
The borrower must share their bank account statements for a timeframe with the vendor.
Identification documents such as PAN or Aadhar card.
Proof of address.
Income proof to validate payback capability

Therefore, a loan against property is a pretty secure option if you’re looking to buy a house or commercial premises in India.

Must Read: 5 Things to know before Applying for Loan Against Property

What is SME Loan and What are the Documents Required To Get an SME Loan?

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SME loans are credit facilities provided to small and medium enterprises to cater to their financial needs. SME loans are tailor-made to suit the specific requirements of SMEs. For instance, you can use the loan amount to invest in your factory infrastructure or maintain a healthy cash flow in your business.

SME loans are particularly beneficial for women-run businesses. Through proper funding, small businesses can flourish in their operations and make significant contributions to India’s GDP.

It is mandatory to prepare the following small business loan documents to apply for an SME loan.

Identification Proof: Passport, Aadhaar Card, Driving License, Voter ID Card, PAN Card.
Address Proof: Aadhaar Card, Driving License, Voter ID Card, Passport, Utility bill, etc
Valid Business Proof: Business Entity Proof, Incorporation Certificate, Article of Association, Partnership Deed, Shops and Establishment Certificate.
PAN Card of business entity and those of partners.
Company financials: Tax audit reports, Balance Sheet, Profit and Loss, VAT returns for the past three years.
Last three months’ bank statement.
Duly signed application form.

Before applying for an SME loan, you will need to make sure that you meet the underlying eligibility criteria:

You must be a proprietor, self-employed individual, or a private undertaking.
The borrower must be 21 years old at the time of application and 65 years old at the end of the loan tenure.
You must show a minimum income and turnover of the business based on your lender’s policy.
Your business must have been making profits for at least 2 years.
You must have a minimum of five years of business experience.

It is one of the popular options among small business owners to secure funding for their businesses. Its popularity stems from features and benefits like minimum business loan documents requirement, collateral-free, flexible tenure, and no prepayment charges.

Must Read: 5 Major Obstacles That Confront MSME Loans in India

How To Make Working Capital Work For Your Business?

If you own a business, you will know the innumerable day-to-day expenses. You have to pay the service personnel, hire new staff, and spend on research and development. Sometimes, a shortage of funds can make it difficult to meet these daily expenses.

However, there is no reason to worry. A working capital loan will have your back. You can approach a reliable lending institution for taking a loan. But, you have to manage your working capital well.

How To Manage Your Working Capital?

1. Have A Regular Cash Flow

Well, you can take a working capital loan. But you have to ensure that revenues keep flowing in. Keep clients who do not delay payments. That will help you meet the basic expenses.

2. Do Not Spend Your Working Capital On Expensive Assets

You might need new equipment for your business. However, do not use your working capital to purchase it. That will prevent you from meeting your regular expenses.

3. Improve Your Creditworthiness

Make sure you always clear your debts on time. Apart from that, try to maintain a stable income. It will improve your creditworthiness. You will face no problems while taking a loan. However, do not forget to check the business loan requirements before applying.

Final Word

Fullerton India offers working capital loans for new businesses. You can get a loan of up to Rs 30 lakhs without collateral. Moreover, you will enjoy a flexible repayment tenure. So, why are you waiting? Go and check your eligibility now.

Additional Read: A complete Guide To Know About Working Capital Loans

How To Get The Best Personal Loan Lender In Delhi?

Are you worried about funding your higher education? Or you might need money for an urgent operation. Don’t worry. Getting a personal loan in Delhi has become easier than ever. Several lenders are ready to offer you a personal loan. However, you need to choose carefully.

Quick personal loans are a great way to meet your urgent financial requirements. Let us look at a few things you need to remember while applying for a personal loan in Delhi.

1. Go For The Lowest Interest Rates

Compare the interest rates offered by different lenders. Make sure you choose the lowest one. That will keep your EMI amount affordable.

2. Choose A Shorter Tenure

Always go for a shorter loan tenure. That will ensure your debts get cleared sooner. After all, who wants to bear the burden of loans for long?

3. Don’t Borrow Beyond Your Capacity

Consider your income and monthly expenses before borrowing. Don’t forget that you have to pay the EMIs every month. The cost of living in Delhi is itself quite high. Moreover, if you a4e unable to repay the loan, you might get entangled in legal disputes.

Personal loan interest rates in India range from 10% to 28%. It depends on your credit score. So, make sure you maintain a good score to get the best rates.

Final Word

Fullerton India offers personal loans at competitive rates. You will also get instant approval of your loans. So, reach out to Fullerton India in case of any financial emergency.

Additional Read: How to Apply for Personal Loan Using Aadhar Card in 2021

3 Tips For Self Employed Individuals While Taking A Personal Loan

Personal loans can help you meet your urgent financial requirements. You do not need to wait for days. Most lenders offer instant personal loans. However,you might face trouble getting a loan as a self-employed individual. Don’t worry. We will provide you some superb tips to get your loan approved.

Salaried individuals do not face any problems while applying for a personal loan. However, if you are self-employed, you need to keep certain things in mind.

1. Maintain A Good Credit Score

Having a decent credit score will improve the chances of getting the loan. Make sure you have cleared your credit card bills on time. If you have repaid all your previous loans punctually, you will not have any problems. NBFCs generally look for a score of 620 and above.

2. Keep All Your Documents Ready

Since you are self-employed, the lender will want to see your income proof. Having a consistent income for at least two years will boost your chances of getting the loan. Make sure you keep the following documents ready.

Your bank statement for the past 6 months.
Proof of income tax returns of the previous year.
Profit and loss statements if you have a business.

3. Offer Collateral If Necessary

Since personal loans are unsecured, lenders do not wish to take risks. Offering collateral will boost your credibility. That will increase the chances of your application getting approved.

Are you worried about the monthly installments? Well, you can use a personal loan EMI calculator. It will give an idea about the EMI amount.

Fullerton India offers personal loans for both salaried and self-employed persons. You can apply online and get your loan approved instantly. Isn’t that great?

Must Read: One-click Loans With Personal Loan Apps

Here Is How You Can Maintain An Excellent Credit Score For Your SME

Small and medium-sized enterprises play a vital role in our economy. They bring innovation to the field of business. Moreover, SMEs also provide employment to thousands of people. Do you own a small business? Well, then you might face problems in arranging for finance.

However, there is no reason to worry. You can take an SME loan to fund your business. Several financial institutions offer loans to small and medium businesses these days. However, the lender will check your business credit score before sanctioning your loan. So, you have to maintain a decent score to get your loan approved.

How To Maintain A Good Credit Score For SMEs?

Update Your Information At Fixed Intervals

Always keep your financial profile up to date. That will increase your chances of having a higher credit score. An incomplete profile will lead to a poor credit score. That will lower your chances of getting the loan.

Pay All Your Dues On Time

Punctual payments will increase your credit score by leaps and bounds. You can pay your dues earlier if possible. That will give a nice boost to your score.

Use Instruments Of Credit Regularly

Make it a habit to use instruments like credit cards. It will improve your credit utilisation ratio, giving the much-needed boost to your credit score.

Maintaining a high credit score will help you get a lower business loan interest rate. So, never ignore your business credit score.

Final Word

Fullerton India encourages small and medium-sized enterprises. It offers loans at affordable rates without collateral. So, when are you expanding your business?

Must Read: Know the Top 5 Benefits of SME Loans

How To Make Working Capital Work For Your Business?

However, there is no reason to worry. A working capital loan will have your back. You can approach a reliable lending institution for taking a loan. But, you have to manage your working capital well.

How To Manage Your Working Capital?

Have A Regular Cash Flow

Well, you can take a working capital loan. But you have to ensure that revenues keep flowing in. Keep clients who do not delay payments. That will help you meet the basic expenses.

Do Not Spend Your Working Capital On Expensive Assets

You might need new equipment for your business. However, do not use your working capital to purchase it. That will prevent you from meeting your regular expenses.

Improve Your Creditworthiness

Final Word

Must Read: A Complete Guide To Know About Working Capital Loans

Get a Personal Loans For Your Perfect Holiday

Travelling is exciting and enjoyable. However, it can reduce your account balance drastically. Quenching your wanderlust is easier if you use a personal loan to cover your travel expenses.

Planning a perfect vacation can seem daunting. Moreover, you might have to cut down on some of your travel needs to fit in the bill. Travel loan makes your trip smooth and fit for your dreams. This type of personal loan acts like an unsecured loan that can finance and cover your dream vacation.

Benefits of opting for a personal loan for travel –

Easy to apply –

In a few simple steps, you can get the loan. Check your eligibility for the loan online and get approved instantly.

Quick access

A user-friendly and customised portal will let you manage your loan from anywhere in the world.

Instant approval

Unlike other loans, personal loans for travel get approved in record time. Get your requested funds instantly and start planning your dream vacation.

Meagre interest rates –

This is one of the most attractive features of a personal loan for travel. Stay updated with your current debts. Furthermore, a good credit score allows you to enjoy a low interest rate.

Get easy approval for loan up to 25lakhs. Access funds sufficient for your perfect vacation.

Minimum documentation

Travel loans require minimum documentation. Moreover, being an unsecured loan, you do not require any personal collateral.

Fullerton India offers travel loan at low interest rates. Calculate your EMI rate using our personal loan calculator from your home.

Travel to your heart’s content with our easy and affordable travel loans today.

Must Read: Let a Fullerton India Personal Loan Take Care of your Vacation

Simple Tips To Select The Best Personal Loan

Personal loans are a great way of securing funds for an urgent requirement. Moreover, personal loans are easy to access, and they don’t require security or a guarantor.

People often face situations like weddings, tuition fee, purchase of home etc., that might require sudden monetary funds. In such instances, an urgent personal loan can quickly help you out.

Here are a few easy tips to help you find a personal loan that suits your needs the best.

Compare Loan Interest Rates –

Look for a personal loan that fits in with your finances well. Seek out all the necessary information before applying for a loan. It is essential to learn about the interest rate levied on the loan and if that fits your financial profile.

Learn about extra charges –

There are various other kinds of fees involved with a personal loan. Look into the processing fees, loan cancellation charges, late payment charges, etc., before finalising a decision. Often a specific processing charge between 1% to 3% is levied on a personal loan.

The tenure of the personal loan –

Choose a tenure period that is suitable for you and doesn’t put a restraint on your finances. A longer tenure indicates lower EMIs. However, that would result in more payable interest.

EMI –

It is essential to look for a personal loan EMI that you can afford. Ensure that you can make the required monthly payments on time.

Fullerton India offers personal loans at instant approval. Moreover, you can access the best loans from the comfort of your home.

Must Read: Top Ways to Get A Fullerton India Personal Loan Interest Rate

What Are Short Term Personal Loans?

Financial emergencies do not come informed. You will fall into deep trouble if you do not have enough savings or investments. Short term personal loans can save you in such situations.

These days, financial institutions offer small instant loans. Anyone with a regular income source can avail these loans. They will help you overcome your crisis with instant money. Let us take a look at some of their advantages.

Benefits Of Short Term Loans

Lower Interest Payments

You have to pay off short-term loans within a short period. So, the interest amount is quite less compared to other loans.

Lesser Waiting Time

You cannot afford to wait for funds during emergencies. Lenders process short-term loans immediately to help you during a crisis.

Lesser Requirements

Don’t you have a decent credit score? There is no reason to worry. Short-term loans do not have strict requirements like other loans.

They Can Boost Your Credit Score

You have to repay these loans within a year. Repaying them on time will give a great boost to your credit score. It will help you to get long term loans in future.

Are you thinking about the interest rates? Well, they are much lower than personal loan rates. Short-term loan interest rates usually range from 9.2 to 9.5%.

Fullerton India provides affordable short-term loans to deal with emergencies. You do not have to go anywhere. Apply online and get instant approval. So, why are you still waiting? Take a short-term loan from Fullerton India and handle your crisis like a pro.

Must Read: GET FULLERTON INDIA DIGITAL INSTANT LOAN IN 2 CLICKS AT HOME

Personal Loans For Your Perfect Holiday

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Travelling is exciting and enjoyable. However, it can reduce your account balance drastically. Quenching your wanderlust is easier if you use a personal loan to cover your travel expenses.

Planning a perfect vacation can seem daunting. Moreover, you might have to cut down on some of your travel needs to fit in the bill. Travel loan makes your trip smooth and fit for your dreams. This type of personal loan acts like an unsecured loan that can finance and cover your dream vacation.

Benefits of opting for a Personal Loan for Travel –

Easy to apply –

In a few simple steps, you can get the loan. Check your eligibility for the loan online and get approved instantly.

Quick access

A user-friendly and customised portal will let you manage your loan from anywhere in the world.

Instant approval

Unlike other loans, personal loans for travel get approved in record time. Get your requested funds instantly and start planning your dream vacation.

Meagre interest rates –

This is one of the most attractive features of a personal loan for travel. Stay updated with your current debts. Furthermore, a good credit score allows you to enjoy a low interest rate.

Get easy approval for loan up to 25lakhs. Access funds sufficient for your perfect vacation.

Minimum documentation

Travel loans require minimum documentation. Moreover, being an unsecured loan, you do not require any personal collateral.

Fullerton India offers travel loan at low interest rates. Calculate your EMI rate using our personal loan calculator from your home.

Travel to your heart’s content with our easy and affordable travel loans today.

Must Read: Is Opting Personal loan for World Tour a good idea?

Why Take A Two-Wheeler Loan To Buy Your Dream Bike?

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Are you planning to buy that latest bike model? With the increasing traffic on the roads, a two-wheeler can be the most convenient mode of transport. However, buying one can dig quite a large hole in your pockets.

However, you have no reason to worry. A two wheeler loan can help you buy your dream bike. You can take your bike home immediately, and repay your loan in easy instalments.

Reasons To Take A Two-Wheeler Loan

It Covers Your Financial Burden

Well, you can buy your dream bike with your savings. But then you might have to cut down on other expenses. So, taking a bike loan will avoid any sudden strain on your finances.

Flexible Repayment Options

You do not have to repay all the money at once. It allows you to choose a term accordingly. The repayment tenure varies from 1 to 5 years.

You Do Not Need Collateral

Bike loans are personal loans. So, they are unsecured. You do not have to worry about placing your valuable property at risk. Your lender will only ask for your documents and a good credit score.

Do not forget to check the two-wheeler loan interest rates before applying. It will help you get lower rates.

Final Word

Thus, taking a bike loan can move you closer to your dream of buying a two-wheeler. Fullerton India offers bike loans at affordable rates. You can get the loan instantly with minimum documents. Are you still waiting? Go and grab your dream bike now.

Must Read: 5 Factors That Affect Your Bike Loan EMI

Why Should You Maintain A Good Credit Score While Applying For Personal Loans?

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Are you applying for a loan? Have you checked your credit score? It is the most vital thing your lender will check while processing your application.

Maintaining a good CIBIL score should be your topmost priority. How to go about it? Repay all your loans and credit card bills on time. Also, make sure you have minimum pending loans while applying for a new one.

Importance Of A Good Credit Score

It Increases The Chances of Your Loan Getting Approved

A good CIBIL score convinces the lender about your credibility. It tells them about your repayment capacity. Since personal loans are unsecured, your credit score is the only assurance your lender has. So, they are more likely to approve your application.

You Can Avail Lower Interest Rates

The rate of interest your lender charges depends on your credit score. Having a higher score will give you more bargaining capacity. It will let you get a better deal.

You Can Also Avail Other Offers

Once your lender sees a high credit score, they will start valuing you more. Who knows? You might also be able to get some exclusive offers.

Getting an NBFC personal loan has become easier these days. However, you need to take care of your CIBIL score.

Final Score

Fullerton India lets you check your credit score instantly. You can apply online and get quick approval of your personal loan. So, check your score now and assess your eligibility.

Additional Read: How you can calculate Credit Score? And How To Boost It?

Tips To Get The Best Personal Loan Online

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Personal loans are the easiest way to get funds for financial emergencies. They are unsecured loans. So, you do not need collateral. Several financial institutions offer personal loans to both salaried and self-employed individuals.

What Is The Best Way To Get Personal Loan Online?

Before filling your online personal loan application, you need to remember certain things.

Check Out The Interest Rates

Never forget to check the interest rates before applying for a personal loan. The rates are higher than other types of loans. However, if you compare the interest rates offered by different lenders, you can get a better deal.

Maintain A Decent Credit Score

It is the most vital thing your lender checks while processing your loan application. Maintaining a good credit score gives you better bargaining power. You will be able to get lower interest rates from your lender.

Compare Different Lenders

You have several options when it comes to personal loan lenders. So, why restrict yourself? Check out the rates and other benefits offered by each lender. Take your time to compare their features. It will allow you to get the best personal loan.

Personal loan interest rates in India start from 10%. It depends on the lending institution, your income, and your credit score.

Final Word

Fullerton India offers easy personal loans for all. You do not have to wait for days to get approval. You can apply online and get the loan amount transferred to your account immediately. Check out your eligibility criteria for a personal loan now.

Additional Read: Know When to Pay Off Credit Card Debt with a Personal Loan

Easy Steps To Check Your Credit Score

Smart Phone Showing Credit Score On A Screen

Your CIBIL or credit score represents your previous loan history. It denotes whether you have repaid your loans and credit card bills on time. Well, it is the most crucial factor your lender checks before approving the loan.

You must check your credit score before applying for a loan. It will give you an opportunity to improve if it is not up to the mark. These days, most lending institutions provide the feature of online credit score check. You can use it to check your score within minutes.

How To Check Your Credit Score Online?

You can check your credit score in two ways.

By Logging In

Here are the steps to follow.

Visit your lender’s website
Log in to your account.
You will have to enter your personal details. It includes your PAN number, your passport, and Voter ID details.
After they verify your documents, you can access your credit score through the dashboard.

Without Logging In

If you do not wish to log in, there is no reason to worry. You can check your credit score by entering your PAN number. For this, you only need to enter your personal details as mentioned in the PAN card. Agree to the terms and conditions. There you go! Your credit score will get displayed.

Having a higher credit score will improve the chances of your personal loan application getting accepted. Try to maintain a score around 750. That will make you look credible in your lender’s eyes.

Fullerton India lets you check your credit score instantly. So, why are you waiting? Go and check the chances of your loan getting approved.

Must Read: Follow These Steps To check your CIBIL score online

One-click Loans With Personal Loan Apps

The personal loan apps enable you to avail of instant loans without any hassle. These apps provide some salient features like personal loan up to 25 lakh, online processing and documentation, convenient repayment durations from 12-60 months and competitive interest rates.

They cater to all types of fundings- be it medical urgency, wedding loans or travel plans. The apps also have a personal loan calculator to help you with better decision making. You can get a quick and precise estimate of your monthly EMI and also check your loan eligibility on the app.

How To Apply For A Personal Loan Online?

Online personal loan application includes some simple steps:

1. Download the app on an Android/iOS device.

2. Register on the app using Google/FB or create a new account.

3. Input primary fields like name, Date of birth, gender, address etc.

4. Complete the employment and Income details.

5. Give the required bank account information.

5. Scan and upload the documents for processing.

6. Submit, and you are done. You get an instant update about your loan eligibility and the amount you can avail.

You can proceed further and also get real-time tracking of your online application. The loan approval process is super fast, and you directly receive the amount in your bank account within 24 hours of approval.

Final Word

Fullerton India is a one-stop solution to your financial needs – one-click loan at affordable interests, paperless process, Quick disbursal and convenience. Our free personal loan calculator gives an accurate estimate of the eligible loan amount, considering your monthly income, place of residence, ongoing EMIs, tenure and interest rates.

Must Read: Tips to Reduce Your Personal Loan Burden Faster

Need Money Urgently? Take A Personal Loan Online

Personal loans are a convenient way to meet your planned and unplanned expenses. However, you might be in doubt whether to take the online or offline route. With the rapid growth of the internet, you can do everything online. Taking a loan is no exception.

Earlier, you had to visit your lender in person to get a loan. But personal loans online approval has made your task a lot easier. It saves your precious time and energy. Moreover, there are other benefits of taking a personal loan online.

Why Take A Personal Loan Online?

You will require minimum documents. When you apply for an instant personal loan online, you do not have to submit tonnes of documents. The digital copies of some important ones will suffice. That way, you will also save paper.
You can get instant approval. Gone are the days when you had to wait in long queues to submit your application. Waiting for approval was another thing. What if you need the money urgently? When you choose the online route, your loan gets approved within a couple of days.
Avail of a flexible plan. There are numerous options when you apply for a personal loan online. You can opt for a personal loan at minimum interest to manage your finances well.

Take A Personal Loan Online From Fullerton India

Fullerton India makes the lending process more accessible than ever. You can apply online from the comfort of your home. Track the status of your loan anytime. Once it gets approved, you will receive the money in your account. Could it get easier?

Must Read: Manage Your Expenses With A Fullerton India Low-interest Personal Loan

Getting Married? Take A Personal Loan To Fund Your Wedding

Don’t you wish to have a grand wedding? Personal loans can be a great way to fulfil your dreams. It will do away with all your tensions about funding your marriage.

Here is why you should take a personal loan to fund your wedding.

You Get Instant Approval

Getting married might drain your finances. It is not a wise idea to dig into your savings. However, there are several expenses to take care of. Do not worry. Your lender will approve the personal loan immediately. Now you do not have to wait to shop your d day.

You Can Spend The Money On Anything

No one will demand an explanation about how you are spending the money. You can use it to pay the caterers or event management team. You might also use it to buy gifts and other necessities. Your lender will have nothing to do with it.

You Do Not Have To Liquidate Your Investments

It is not uncommon to hear people breaking their fixed deposits to fund their weddings.b However, it is not advisable. You can save your investments for emergencies. Why liquidate them and lose on your interest payments when you can take a personal loan?

Before applying, you can check your instalment amount using a personal loan EMI calculator. It will help you plan your future expenses accordingly.

Final Word

Fullerton India values your time. It gives instant approvals for personal loans. That too with minimum documents. So, why are you waiting? Go and start preparing for that big day.

Must Read: Which one to Pick- Small Cash Loan or Fullerton India Personal Loan?