Needless to say, a personal loan is possibly the most popular amongst all financial products. At Fullerton India, we offer customised products to meet any requirement you may have. We respect your dreams and aspirations. Thus, be it to pay for your holiday expenses or debt consolidation, or pay for a medical emergency, we have a solution that is perfect for you.

Personal loans can help you meet expenses in a hassle-free manner. With a little bit of planning, you can find that you can easily manage your expenses along with your EMIs without having to face too many issues. That said, when you take a personal loan, timely payment of your EMIs can greatly help you maintain or even improve your CIBIL score. To this end, Fullerton India offers a host of tools online, free of cost. For instance, our free online personal loan EMI calculator helps you to plan your finances better by accurately telling you the exact EMI amount you will need to pay. 

The other end of the spectrum is a prepayment of your personal loan. Fullerton India offers full pre payment facility to all customers with charges as low as 0%. Thus, if you have the means to pay off your loan before the repayment tenure expires, it would seem to be a wise option to clear your loan so that you can be free of all obligations. However, the question that often comes to mind is what would the charges be, and whether paying the charges would be better than continuing to pay EMIs as per schedule.

What is Personal Loan Prepayment?

Firstly, let us discuss what prepayment of personal loan means, and what does it entail.

As the term suggests ‘prepayment’ refers to paying off your personal loan before the designated repayment tenure finishes. This is a scenario where the primary applicant has access to funds that can cover the principal loan amount and any applicable interest till the date of the agreed prepayment.

But why pay off your personal loan before time is the question? Primarily, this would be a good option because in most cases, it would help you save on the interest component that the principal loan accrues throughout the repayment tenure. It would also enable you to successfully clear your debt and free up your finances.

That said, there are some applicable fees and charges if you choose to foreclose your personal loan.

Personal Loan Prepayment Fees & Charges

Fullerton India levies certain charges and fees when you opt to pre-close a loan. The main reasoning for this is that pre-closing a loan requires a lot of processing and coordination at our end. The charges which are levied to you are a part of the same. However, if a certain number of EMIs has been paid, we don’t levy any foreclosure charges.

Please also note that at Fullerton India, we only accept prepayment of personal loans in full – that is, if you would like to prepay your loan, you should be willing to pay off the entire amount that is outstanding.

Take a look at Fullerton India’s detailed foreclosure charges:

No. of EMIs paid (Excluding Pre-EMI) Foreclosure Charges
0 to 17 EMI(s) fully paid 7% of the Principal Outstanding
18 to 23 EMI(s) fully paid 5% of the Principal Outstanding
24 to 35 EMI(s) fully paid 3% of the Principal Outstanding
36 or more EMI(s) fully paid No Foreclosure Fee

Please note that as per our current policy, we only accept prepayments on personal loans in full. Thus, if you wish to prepay or foreclose your personal loan, you must be prepared repay the entire outstanding amount along with applicable fees and charges.

In order to foreclose your Fullerton India personal loan,  please follow these steps:

Personal Loan Prepayment Procedure

  • You can submit a formal prepayment request by either calling our customer service desk on the toll-free number 1800 103 6001 , emailing us on [email protected] or visiting your nearest branch. 
  • You can also raise the request through your unique log in details to the customer service portal / mobile app.
  • Our representative will respond to your request with a tentative date by which the personal loan can be foreclosed on receipt of your request. You will also be given a foreclosure ID for reference.
  • Once you have the foreclosure ID with you, proceed to the nearest Fullerton India branch to make your full prepayment towards your personal loan.
  • The process is now complete. You will be handed over an acknowledgement of the payment made towards the foreclosure of your loan.

Check Personal Loan Rates   Calculate Monthly EMI  

Reasons to buy

You can take our personal loan for a variety of reasons.

Wedding Expenses

Higher Studies

Exotic Vacations



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