ersonal loans are your best source of finance when you require money to fund a planned or unplanned expense. They are collateral-free, easy to apply, and have flexible repayment terms suitable to the borrowers’ repayment capacity. 

Today, many NBFCs have already launched their personal loan apps that applicants may use to apply for a personal loan online from their smartphones. Fullerton loan app from Fullerton India is one of them. It is an instant personal loan app that supports completely digital and 100% paperless loan procedures to make things faster and easier than ever before. Let’s know more about this personal loan app and how to get a personal loan online using it.

7-Step Procedure for Loan Application

If you are planning to apply for a personal loan, the app has an easy 7-step procedure to complete the application process. Here is a stepwise procedure to apply for a personal loan through the Fullerton Loan App:

  1. Download and install the app

First of all, install the Fullerton InstaLoan App on your smartphone. Since it is a useful app compatible to all types of devices, Android users may easily find it on Google Play Store and iPhone users may find it on App Store. Look for the InstaLoan: Personal Loan App from Fullerton India Credit Company Ltd. and install it on your device. Weighing only around 4 MB, it does not take more than a few seconds to download.

2. Create an account 

Once installed, you need to verify you’re identity by registering to it using your Google or Facebook account. The lender will use this account to communicate with you in the future. You may also register for it using your phone number. 

3. Enter your personal details

The lender would want some essential details about your identity, like your name, date of birth, gender, residential address, marital status, etc. Enter them correctly and double-check to ensure authenticity. Ideally, your age should be a minimum of 21 and maximum 60 years at the time of loan application and term-end respectively.

4. Enter your income and employment details

To apply for a personal loan from Fullerton India, you must be earning a minimum ₹ 25,000 (in Delhi/Mumbai) and ₹ 20,000 (in any other city of India). Besides that, you must be working in the current company for at least 6 months and have a total work experience of at least one year. Therefore, to prove your income and employment, you need to enter your salary, employer, and work experience when prompted.

5. Enter your bank details

You need to have a bank account where the lender will disburse your loan amount if approved. You will also pay your EMIs from this bank account. So, enter your bank name, account number, and other bank details at the time to loan application.

6. Scan and upload the required documents

The loan application is 100% paperless at the Fullerton loan app. These loan software applications include your identity, income, and residence proof. To apply for a personal loan from Fullerton India, you need to scan and upload the following documents through the app itself:

  • Application form
  • Identity proof, like your voter ID, Aadhaar card, passport, and driving license
  • Residence proof, like your passport, driving license, Aadhaar card, voter ID, rent agreement, ration card, or electricity or gas bill 
  • Signature proof, like your PAN card and passport
  • PAN card
  • Bank statements for the last 6 months

As income proof, salaried individuals must submit the following:

  • Salary slips for the past 3 months
  • Form 16 
  • Income tax returns

Self-employed professionals have to submit these documents:

  • Business proof, like GST number, registration certificate, or license
  • TDS certificate, income tax challans, or form 26 AS 
  • Income tax returns for the past 2 years
  • Income computation, balance sheet, and profit and loss account for the past 2 years 
  • IT assessment or clearance certificate

7. Submit the loan application

After providing all the details and submitting your documents, click on the ‘Submit’ button to submit your loan application. Once you submit your application, you will receive instant confirmation about your eligibility and loan amount. You may use your loan application number to track your application status. Scan and upload your documents to start your loan processing. After clearing all the checks and verifications, you will get your loan agreement and loan disbursal in 24 hours.

Fullerton India InstaLoan app is a quick loan app that makes funds accessible within minutes. So, whenever you require immediate cash to cover your big-ticket expenses, use the loan app on your smartphone to apply for a loan anywhere, anytime, and proceed. With the Fullerton loan app on your phone, you no longer need to worry about finances.