A personal loan allows you to borrow for a variety of purposes, such as consolidating debt, paying for renovations, or planning your dream wedding. Personal loans are becoming increasingly popular as online availability increases convenience and adds to their attractiveness. It is important to carefully consider your financial situation before taking on a loan, but a personal loan may be the best way to finance a large purchase or project that you can't afford upfront.
Most typically, an INR 6 lakh personal loan can help you sort out personal finances of all natures. This article talks about how you can apply for a personal loan to make the most of your goals.
To be eligible for an INR 6 lakh personal loan, the borrower must meet the following basic criteria:
A free online eligibility calculator can help you determine how much you can borrow based on your demographics, income, ongoing EMIs, loan tenure, and interest rate. Enter the necessary information to get the maximum loan amount you're eligible for, instantly.
When applying for an INR 6 lakh personal loan online, you must consider your financial obligations in order to determine an appropriate loan amount and affordable EMIs. Always take the help of an online personal loan EMI calculator to quickly calculate your monthly payments and assist you in making an informed decision. For example, for a loan worth INR 6 lakh, with an interest rate of approximately 14%, your estimated EMIs would be:
Tenure |
Estimated EMI at 14% interest rate |
2 years |
INR 28,808 |
3 years |
INR 20,507 |
5 years |
INR 13,961 |
To apply for a personal loan, you will need to submit a few documents that do not require a lot of paperwork. The documents for salaried and self-employed individuals differ, and this article will walk you through both. KYC proof, income proof, business details, and a few other documents are required. Please submit all required documents with up-to-date and accurate information so that we can process your loan application as soon as possible.
Documents required to apply for a personal loan of INR 6 lakh:
For salaried individuals, additional documents required are:
For self-employed individuals, additional documents required are:
SMFG India Credit offers a 100% online and paperless application process that can be completed from the comfort of your home while incurring minimal processing fees and time. You can plan ahead of time by receiving instant* approvals for your loan applications, with funds transferred within 72 hours* of approval. SMFG India Credit also provides collateral-free loans with a long and comfortable tenure of up to 60 months. Furthermore, you can use our free digital calculators to get a quick estimate of the loan amount you're eligible for, calculate your EMIs, and learn about your interest rates. Begin your smooth and quick application process right away!
You can take our personal loan for a variety of reasons.
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