- Through these offers individuals can now avail a waiver of 0.50% on the interest rate of theirPersonal Loans; Additionally,women can avail a 50% waiver on processing fees
- The state has witnessed an impressive growth over the period of last few years
Chennai, 5 October, 2016: Fullerton India, a leading non-banking financial company in India, with a strong pan-India presence announces special offers for individuals planning on taking Personal Loans in the state of Tamil Nadu. With the onset of the festive season, the company will offer a waiver of 0.50% on the interest rates for Personal Loans and will also offer special gifts for high value loans. Additionally a 50% waiver on the processing fees of Personal Loans will be offered to women applicants. These offers will be valid from October 1st 2016till Diwali.
As of August 2016, Fullerton India has built a strong network of 73 branches across rural and urban centres in the state. The company introduced 8 new rural branches in the state across Palayamkottai, Mailaduthurai, Kumbakonam, Thiruvarur, Pudukottai, Villupuram, Karaikudi and Perumbalur in 2016. While Personal Loans continue to stay a focus product for the market, the companyalso providesLoans against Property, Business Loans, Livelihood Advancement Loans and Two-wheeler Loans to customers in the region. With a dedicated work force of 1,239 employees, backed by reliable, transparent and timely services, the company’sloan accounts in the state have substantially grown and stand at 4, 41,660as onAugust 2016.
Commenting on the announcement, Mr. Rakesh Makkar, Executive Vice President and Head – Business, Marketing and CSR,Fullerton India said, “Owing to its diversified and highly industrialisedmanufacturing sector, the state of Tamil Nadu continues to exhibit tremendous business potential. As onAugust 2016,our Assets under Management (AUM) for the regionstand at Rs.1,496 crores, while our profit before tax stands at Rs.47.3 crores. In order to complement Diwali – an important festival in the state and cater to the strong demand, we have launched exclusive festive offers on our Personal Loans.”
Fullerton India is also actively involved with community development across the country. Some of the initiatives under its CSR program,Fullerton India – Uday, include Pashu Vikas – cattle care camps, Jeevika – livelihood initiative, Gurukul – basic skill training courses to facilitate the employment of youth, mid–day meals to combat classroom hunger, Jyoti-Save the Eye – a program that focuses on providing underprivileged families better eye care facilities, Niramaya – health check-up camps and Krishi Mitra – organic farming programmes. Since the past two years, the Company has been organising single day cattle care camps across the country under the name – ‘Pashu Vikas Day’. Last year, on 21st November, under this initiative around 10,531 cattle were treated across 42 locations in the state, thereby benefitting 3,863 households.
About Fullerton India Credit Company Limited:
Fullerton India Credit Company Limited (FICCL) is one of India’s leading Non-Banking Finance Companies (NBFC). The total revenue of the company for the fiscal year ending March ’16 stood at Rs.2, 277 crores. As on August 31st, 2016, the AUM of the Company stood at Rs.12, 346 crores, serving over 16 lakh customers through a widespread network of 527branches spread across 22 states and 3 union territories, reaching out to 600 towns and over 51,000 villages in the country. Fullerton India offers several retail finance products for varying needs of customers ranging from rural households to SMEs, in the locations it serves. In February 2016, Fullerton India launched its housing finance company – Grihashakti. The company is headquartered in Mumbai and operates through 20 branches spread across 7 states – Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and West Bengal. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.
