Do I need a guarantor or co-applicant for Home Loan?
Yes, a guarantor or co-applicant is mandatory to avail Fullerton India Home Loan.
What are the additional charges applicable on Home Loan?
The additional charges applicable on home loan includes –
- Application charges up to Rs. 6,000.
- Documentation Charges up to Rs. 3,000.
- Cheque /ECS dishonoured Charges of Rs. 500, per instance.
- Swap Charges of Rs. 600 for replacement of Post-dated cheques to ECS or vice-versa, per instance.
- CERSAI Charges of upto Rs. 210
- Collection of Cheque/Cash of Rs. 500, per instance.
- Charges of Rs.350 for Duplicate NOC
- Charges of Rs. 600 for part disbursal, if any.
When can I make a prepayment for my two wheeler loan and what are the applicable charges?
Non individual borrowers (Primary and /or co-borrower) will be levied a charge as follows –
- 0-12 Months : 7% of the prepaid loan amount.
- More than 12 Months : 5% of the prepaid loan amount.
Prepayment charges for Semi Fixed rate of interest loans are as follows –
- For individual borrowers (Primary and co-borrowers): 7% of the prepaid loan amount till the fixed rate tenor and no prepayment charges thereafter.
- For Non-Individual borrowers (Primary and/or co-borrower): 7% of the prepaid loan amount would be applicable for the fixed rate tenor of the loan and 5% of the prepaid loan amount thereafter.
Prepayment Charges for Fixed Rate Loans(Full tenor) (except for the Individuals making prepayment out of their “own sources” i.e. not from borrowing from any Bank/ Housing Finance Company/ Non-Banking Finance Company/ any Financial Institutions/ any other sources) are as follows –
- 0-60 months: 7% of the prepaid loan amount
- More than 60 Months : 5% of the prepaid loan amount