Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Calculate Personal Loan EMI

12 Months60 Months

Assuming annual interest rate of 11.99

Calculated EMI*   6,642  Apply For Loan

Loans Upto ` 25 Lakh*

Quick Disbursal

Minimal Documentation

Flexible Tenure

Personal Loan of Rs. 20 Lakhs

A personal loan is arguably the most popular type of loan which enables a borrower to meet all kinds of short-term financial requirements instantly. Be it home renovation, marriage expenses, debt consolidation, office construction, or even taking an international trip, you can use the personal loan from SMFG India Credit funds for any purpose.

SMFG India Credit offers Rs. 20 Lakhs personal loan interest rates starting from 11.99%* per annum. It is unsecured by nature which means that you can avail of the loan without having to put up collateral for security.

Features of Personal Loan

Making a Rs. 20 Lakhs loan application at SMFG India Credit is a relatively simple process. The most convenient is to apply for a personal loan online. Alternatively, you can visit the nearest SMFG India Credit branch to get the process started.

Some of the key features of Rs. 20 Lakhs personal loan from SMFG India Credit are:

  • Pre-Approved Offers: Access a range of pre-approved personal loan offers that are accompanied by preferential interest rates, repayment tenures and a quick approval process.
  • No Security Requirement: SMFG India Credit offers collateral-free personal loans for up to Rs. 25 Lakhs*.
  • Affordable Interest Rates:SMFG India Credit personal loans interest rates starting from 11.99%* per annum which is affordable.
  • Easy Repayment Tenures: Personal loans from SMFG India Credit come with flexible repayment tenures of up to 60 months.
  • Get Quick Loan Approval: Receive instant in-principal approval by filling up a simple online form. Post verification of documents and finalizing the loan agreement, final approval will be provided.
  • Loan disbursal in 30 minutes*: Once SMFG India Credit sanctions the Rs. 20 Lakhs personal loan request, the funds may be disbursed within 30 minutes*.
  • No Hidden Charges: Personal loans from SMFG India Credit are provided with no hidden charges and with terms and conditions that are absolutely transparent.

Rs. 20 Lakhs Personal Loan Interest Rates & Charges

Interest Rate

It begins at 11.99%* per annum

Processing Fee

The fee charged for a loan typically ranges from 0 to 6% of the total loan amount.

Available Loan Amount:

Up to Rs. 10 Lakhs (for self-employed)* and up to Rs. 25 Lakhs (for salaried).

Tenure of Loan:

A maximum of 5 years or 60 months.

Minimum EMI Per Lakh

Rs. 2,224 for 5 years or 60 months

Late Payment Charges

2% plus GST charged monthly (24% per annum) on the overdue amount calculated on day-to-day basis.

Prepayment Expenses


Loan Cancellation Charges

Rs. 1,000

Cheque/ECS/NACH Dishonoured Charges

Rs. 300

*Terms and conditions apply.

Rs. 20 Lakhs Personal Loan EMI for 5 years

SMFG India Credit offers a personal loan of Rs. 20 Lakhs at competitive rates of interest and a flexible repayment tenure of up to 60 months (5 years). Here is a breakdown of the EMIs according to your repayment terms:

Loan Amount (Rs)

Interest Rate (p.a.)

Tenure (years)

EMI (Rs)

Rs 20 Lakhs



Rs. 1,77,688/month


Rs. 94,138/month


Rs. 66,419/month


Rs. 52,658/month


Rs. 44,479/month

The above table is a rough estimate. For further details, don’t hesitate to reach out to SMFG India Credit online or at the nearest offline centre.

Eligibility Criteria for Personal Loans

Check your Rs. 20 Lakhs loan eligibility by logging into SMFG India Credit’s personal loan eligibility calculator available on the website. Ensure that you meet the following parameters to be eligible for the loan.

  • Be a citizen of India
  • Be between 21 to 60 years of age
  • Be employed in a registered private limited company, public sector enterprise or be self-employed
  • Have a minimum monthly income of Rs. 25,000 if residing in Delhi or Mumbai and Rs. 20,000 for the rest of India

Please note that being eligible for a Rs 20 Lakhs loan depends on a number of other parameters including your credit score and repayment capacity, as well as SMFG India Credit’s policy at the time of loan application. You can use the personal loan eligibility calculator to get an estimate of the maximum loan amount you may be eligible for.

Documents Required for Personal Loan

Once your application has been received by SMFG India Credit, you will be requested to share a list of documents. Personal loan documents include:

  • Submit proof of identity via Driving license, Passport or Aadhaar Card
  • Submit proof of residence via Driving license, Passport, Electricity bill or Telephone bill
    • Salaried employees need to submit.
    • Salary slips for the last 3 months
  • Salary account bank statements for the last 6 months
  • Self-employed individuals need to submit,
    • Income tax certificates highlighting the computation of income for the last 2 financial years
    • Audited balance sheet for the last 2 years
    • Bank statements for the last 6 months
    • Evidence of latest turnover

How to Apply for Personal Loan?

Execute the following steps to apply for a personal loan at SMFG India Credit:

  1. Use this direct link to start your application process.
  2. Enter necessary details like your mobile number, PAN, pincode, and employment type.
  3. Confirm your mobile with the OTP sent. Also, make sure to verify your email ID.
  4. Fill in your email address, birth date, gender, and details on your annual household income and employment.
  5. Scrutinise the loan offer designed for you. Pay attention to the desired amount, fees, and repayment plan. Accept the offer if it meets your expectations. Consider if you wish to request a higher loan amount, as you will be given this option.
  6. Give details about your employment if you are receiving a salary.
  7. Use CKYC, OKYC, or DigiLocker to complete the digital identity and address verification processes.
  8. Provide your bank details for verification. You will reach the 'Additional Details' section after successful verification. These include information on your references, marital status, loan objective, and your parents' names.
  9. Decide between a debit card and internet banking for your payment mode and finalise the eNACH setup.
  10. Review and sign the loan agreement digitally, concluding the process with an OTP sent to your registered number.

These easy steps will assist you in moving toward your financial aspirations.

Apply for Personal Loan  

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.


What is the monthly EMI for Rs. 20 Lakhs Personal Loan?

The monthly EMI depends on the interest rate and tenure. For example, at an interest rate of 11.99% p.a., you can expect your EMI to be Rs. 44,479/month for 5 years. You can even use online EMI calculators for estimates.

What is the processing time for an Rs. 20 Lakhs Personal Loan?

Upon verifying your documents and application, the lending institution will disburse the loan amount within 30 minutes*.

What is the salary for a Rs. 20 Lakhs personal loan?

The salary requirement and other criteria to get an Rs. 20 Lakhs with SMFG India Credit are Rs. 20,000 per month for non-metropolitan cities and Rs. 25,000 for Delhi & Mumbai.

Can I get a Rs. 20 Lakhs personal loan without any collateral?

Being an unsecured loan, you no longer have to pledge collateral to avail of a personal loan.

Reasons to buy

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

Wedding Expenses

Wedding Expenses

Higher Studies

Higher Studies

Exotic Vacations

Exotic Vacations




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