How to Apply For an INR 6 Lakh
Personal Loan Online?

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.

How to Apply For 6 Lakh Personal Loan?

To be eligible for an INR 6 lakh personal loan, the borrower must meet the following basic criteria:

• Individuals must be between the ages of 21 and 60, including self-employed and salaried persons.
• They must keep a CIBIL or credit score of 750 or higher.

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.

EMI For INR 6 Lakh Personal Loan

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:

Documents Required For Personal Loan

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:

1. PAN Card 
2. Identity Proof (Aadhaar Card, Driving Licence, Passport, Voter ID, etc.)
3. Signature Proof (Passport, PAN Card, etc.)
4. Address Proof (Passport Copy, Aadhar Card, Driving Licence, Utility bills)
5. Bank statements of the past 6 months

For salaried individuals, additional documents required are:

1. Salary slips for the last three months
2. Income tax returns OR Form 16

For self-employed individuals, additional documents required are:

1. Balance sheet and profit and loss account, income computation for the last two years.
2. Income tax returns for the last two years.
3. Business Proof (Licence, registration certificate, GST certificate)
4. IT Assessment OR Clearance Certificate
5. Income Tax Challans OR TDS Certificate (Form 16A) or Form 26 AS for income declared in ITR.

Conclusion

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!

Apply for Personal Loan