I thought I should share my experience with Fullerton India Credit Limited, regarding a personal loan application I made last week.
I live in Mumbai and because of my impending marriage, I wanted a personal loan for around Rs. 90, 000 to meet with my expenses.
I looked through so many bank websites for Personal Loans, but I met the eligibility criteria for a very few banks. One of them was Fullerton Credit Limited. I must say I Was surprised that I could not get a single review about Fullerton, here on mouth-shut.
I had never heard of Fullerton before, so I googled and found some information about it. Finally I decided that at least I can give it a shot. Everyone was saying bad things about other banks, no one said good or bad things about Fullerton, so I gave it a shot. I went to their website(for India customers) and asked them to contact me.
One thing I noticed on their website is their focus on individual attention to their customers, taking care of them and providing quick turn around time for processing etc.In a day or so, one representative called me. Although he did not have good english speaking skills etc., I understood what he was saying and I asked him to SMS me the documents required for the application.
Then after a few SMS’s, it was decided that someone will come and pick up those documents from my office. The next day, a guy confirmed and came to my office, picked the documents up and I also filled my application form there and gave it to him. I asked him how long the process will take, he said the verification will start from tomorrow itself and after that, not much time.
As he said, the verification started bang on the next day. They verified my office, my house address etc. They also asked me to give references(contact nos.) of 2 people I know.Now at this time, by stroke of luck, I was able to arrange the most of the money required by myself. So there was no need for any Personal Loan(and hence, no need for any tension).I conveyed this to the Fullerton team which was already processing my application. They said okay and that if I need any help in the future, I can let them know.
What I would like to point out is the following:
At the same time that I filled the application for Fullerton, I filled for HDFC Bank, ICICI Bank, Axis Bank, Barclays Finance, Citibank etc. too. The HDFC people had replied and met me. They sneaked in a Loan-Credit Shield Insurance Policy along with their application(without my knowledge). In case of Fullerton, no such hidden policy(premium) was there.
Till now, I have not received a single word from HDFC Bank about my application, whereas my application with Fullerton had already completed the verification stage(within 3 days of my application).
Fullerton people always called and reminded me what I had to submit etc. No such service from HDFC Bank people.
Now, obviously, I did not end up taking any Personal Loan today. But I think the Fullerton Credit people gave me good service, better than any other banks. Also, they did not hide anything from me(atleast till this stage). They may not be tech-savvy and well versed with English, but they surely did the job they are meant to do.
I cannot say anything about how good they are once the loan is processed etc. and hidden charges that come with it. But at least they began in a good way.I would strongly suggest anyone option for a loan to think about Fullerton Credit India Limited and give it a shot. You may not like their talk and communication, but they do get the work done quickly.
Thanks.