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 to funds for any purpose without being obligated to inform the lender.
SMFG India Credit offers Rs. 20 lakh personal loan at interest rates starting from 11.99%. It is unsecured by nature which means that you can avail of the loan without having to put up collateral for security.
Making a 20 lakh 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 lakh personal loan from SMFG India Credit are:
On a Rs 20 lakh personal loan, the EMI for 1-year loan tenure at an 11.99% rate of interest per annum comes at ₹ 1,77,688. For 2-year tenure is ₹ 94,138, 3-year tenure is ₹66,419, 4-year tenure is ₹ 52,658 and 5-year tenure is ₹44,469.
Loan Amount (Rs) |
Interest Rate (p.a.) |
Tenure (years) |
EMI (Rs) |
Rs 20 Lakhs |
11.99% |
1 |
1,77,688 |
2 |
94,138 |
||
3 |
66,419 |
||
4 |
52,658 |
||
5 |
44,469 |
Disclaimer: These are approximate EMI calculations, actual numbers may vary.
Check your Rs. 20 lakh 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.
Please note that being eligible for a Rs 20 lakh 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.
Once your application has been received by SMFG India Credit, you will be requested to share a list of documents. Personal loan documents include:
Follow this step-by-step guide on how to apply for a personal loan online from SMFG India Credit.
If you have any further questions with reference to personal loans, you may get in touch with us by calling SMFG India Credit’s customer service toll-free number 1800 103 6001. Alternatively, email us at for more information.
On an INR 20 lakh personal loan, the EMI for 1-year loan tenure at an 11.99%* per annum rate of interest per annum comes at INR 1,77,688. For 2-year tenure, it is INR 94,138, 3-year tenure INR 66,419, 4-year tenure is INR 52,658 and 5-year tenure is INR 44,469.
Yes, one of the key benefits of personal loans is that you do not need to provide any security or collateral to apply for them. SMFG India Credit offers collateral-free personal loans for up to INR 25 lakhs*. The approval of a personal loan is primarily based on factors such as your credit score, income, employment history, and debt-to-income ratio.
Applicants must have a minimum monthly income of INR 25,000 if residing in Delhi or Mumbai and INR 20,000 for the rest of India. Additionally, your debt-to-income ratio, credit score, and repayment capability will be evaluated for a personal loan of INR 20 lakh.
Once approved, the INR 20 lakh personal loan may be disbursed to your registered bank account within 72 hours* of loan approval.
* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.
You can take our personal loan for a variety of reasons.
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