An INR 70,000 personal loan can be an excellent solution for managing short-term financial needs or unexpected expenses. SMFG India Credit offers personal loans of INR 70,000 and even higher loan amounts with competitive interest rates and flexible repayment terms. Whether you need funds for home repairs, medical expenses, or any other personal requirement, a 70k personal loan can provide the financial support you need without the hassle of collateral or lengthy approval processes. Additionally, our swift loan processing ensures that you get the loan funds to your account within 30 minutes* of loan approval.
SMFG India Credit's INR 70,000 personal loan comes with several attractive features and benefits:
Applying for an INR 70,000 personal loan with SMFG India Credit is simple:
Provide your mobile number, PAN, pincode, and employment type (salaried or self-employed) to proceed further.
Verify your mobile number by entering the 6-digit OTP sent to you.
Provide additional details like your email address, date of birth, gender, and annual household income. Ensure your email ID is verified.
If you’re a salaried individual, you’re required to provide your employment details here.
Please upload your bank statement or share it through Net Banking or an Account Aggregator. We’ll use the submitted information to generate a loan offer (applies to salaried individuals only).
Complete identity verification by taking a selfie and submitting your address details using CKYC, Offline Aadhaar XML-based KYC, or DigiLocker.
Enter your bank account details for verification purposes.
Head to the ‘Additional Details’ section post bank account verification. Provide details like loan purpose, marital status, father’s name, and mother’s maiden name.
Choose your re-payment mode (debit card or internet banking) and complete the E-NACH setup for smooth EMI payments.
These simple steps to apply for an SMFG India Credit personal loan will guide you closer to your financial ambitions.
SMFG India Credit’s eligibility criteria for an INR 70,000 personal loan includes the following basic requirements:
*Please note that the final eligibility will depend on several other factors including our policy at the time of loan application.
To apply for an INR 70,000 personal loan, you'll typically need to submit:
Additional Documents for Salaried Individuals:
Salaried applicants for an INR 70k personal loan may also need:
For effective financial planning, it is crucial to understand the costs associated with an INR 70,000 personal loan. Apart from interest rates, a personal loan involves different types of fees and charges that can impact your overall loan repayment.
At SMFG India Credit, we ensure that any associated loan charges are nominal and listed clearly to avoid any unexpected costs. Our interest rates are competitive and are determined by factors such as age, income, and credit score. Let us see the general breakdown of the interest rates and charges. Your loan documents will show a detailed break-up of these charges as well.
|
Personal Loan Interest Rate |
Starts at 13%* per annum |
|
Processing Fee |
Up to 5% of the total loan amount + GST |
|
Late Payment Charges (Applicable for Payment Default) |
Up to 3% per month (36% per annum) on overdue amount calculated on day to day basis payable from the relevant due date till date of actual payment. |
|
Prepayment Expenses |
0% to 7%* |
|
Loan Cancellation Charges (Loan Cancelled Before First EMI) |
Rs. 1000 - 2500 |
|
Cheque/ECS/NACH Dishonoured Charges |
Rs. 300 to 1000 |
An INR 70,000 personal loan from SMFG India Credit can be a swift and convenient solution to your financial needs. With a hassle-free application process, you can access funds quickly with competitive interest rates and flexible repayment options. Apply now or contact us to know more.
* 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.
For a personal loan of INR 70,000 from SMFG India Credit, the minimum salary requirement is INR 25,000 per month for Delhi/Mumbai residents. For other cities, the requirement is INR 20,000. However, the loan amount as well as approval will depend on several factors such as age, credit score, and existing debts.
SMFG India Credit requires a minimum credit score of 750 to apply for an INR 70K personal loan. Eligible candidates with higher credit scores can have better chances of loan approvals with favourable terms such as lower interest rates.
The INR 70,000 loan EMI depends on the interest rate and loan tenure. For example, at 13% annual interest for 12 months, the EMI would be approximately INR 6,252. Use our personal loan EMI calculator to estimate the monthly payments for different interest rates and loan tenures.
While SMFG India Credit strives to offer a hassle-free application process, some basic documentation is always required for an INR 70,000 loan. This includes identity proof, address proof, and income verification documents. They help us assess your financial profile and offer tailored loan solutions.
You can take our personal loan for a variety of reasons.
Wedding Expenses
Higher Studies
Exotic Vacations
Hobbies
NACH (National Automated Clearing House): Everything You Need to Know
In the digital age, automation and efficiency are the cornerstones of modern financial systems.…
What is Electronic Clearing System (ECS)? Definition, Process, and Benefits
An Electronic Clearing System, or an ECS, is a faster, more efficient way to manage recurring…
Japan Trip Cost from India: Complete 2025 Expense Breakdown
A trip to Japan from India can be an exciting and enriching experience, but it’s essential to…
Understanding Equifax India Credit Report and Credit Score
Equifax is one of the four major RBI-licensed Credit Information Companies (CICs) that generate…
