Facing a sudden medical emergency or unexpected home repairs? There could be several situations in life where you need funds of INR 80,000 urgently, but do not have enough savings at hand. In these instances, the best approach is to take an INR 80,000 personal loan because it is fast, convenient, and can be obtained without collateral.
With competitive interest rates, flexible repayment tenure, and minimal documentation, securing the funds you need is quicker and more convenient than ever. SMFG India Credit offers a user-friendly online application process and ensures swift approval for eligible applicants. The requested loan amount is disbursed to your account within 30 minutes* of approval so you can get the INR 80,000 personal loan you need when you need it most.
An INR 80,000 personal loan from SMFG India Credit comes with many features and benefits, making it an excellent option for managing your financial needs. Here is a detailed look at the notable features of an INR 80K personal loan:
EMI calculation takes 3 inputs - the loan amount, tenure, and interest rate. For example, a personal loan of INR 80,000, the estimated EMI is INR 1,820 at 13%* per annum for 5 years. You can calculate your EMI for different tenures and interest rates with our free personal loan EMI calculator.
Follow these steps to easily apply for an INR 80,000 loan at SMFG India Credit:
Enter your mobile number, PAN, pincode, and employment type (salaried or self-employed) to begin.
Enter the 6-digit OTP sent to your mobile number to verify it.
Fill in further details, such as your email address, date of birth, gender, and annual household income. Ensure you verify your email ID.
Salaried applicants must provide their employment details here.
To proceed, share your bank statement via Net Banking, Account Aggregator, or by uploading it directly. This will allow us to generate a loan offer (applicable only for salaried individuals).
Verify your identity, taking a selfie to complete the process, and share address details using CKYC, Offline Aadhaar XML-based KYC, or DigiLocker.
Enter your bank account information, which will then be verified by us.
Post bank account verification, complete the ‘Additional Details’ section with information about loan purpose, marital status, father’s name, and mother’s maiden name.
Take a pick from a debit card or internet banking for your re-payment mode and finalise the E-NACH setup.
Review the loan agreement, digitally sign it to acknowledge the terms and conditions, and confirm the process using the OTP sent to your registered mobile number.
Follow these simple steps to apply for a personal loan and move closer to reaching your financial objectives.
To qualify for an INR 80,000 personal loan, applicants must meet specific criteria:
Please check the detailed eligibility criteria here. The final eligibility will depend on several factors including our policy at the time of loan application.
When applying for an INR 80,000 personal loan, you'll need identity proof (PAN Card, Aadhaar Card), signature proof (Passport, PAN Card), address proof (Aadhaar Card, utility bill), and income proof (bank statements, salary slips for salaried; financial statements for self-employed).
Please check the detailed list of the personal loan documents required here. Additional documents may be required depending on your individual profile.
When taking an INR 80,000 personal loan, it's important to understand the associated interest rates and fees. Doing so will give you a clear idea of the total loan cost and ensure that your loan stays manageable. SMFG India Credit interest rates start at 13%* per annum. We decide the best personal rate for you depending on your eligibility and financial profile.
Processing fees are up to 5% of the total loan amount + GST. Prepayment charges range from 0% to 7%* of the outstanding principal. Additionally, late payment charges are also applicable, calculated daily on the overdue amount. Dishonoured cheques or ECS/NACH presentations incur a charge of Rs. 300 to 1000 per instance. If you cancel your loan before the first EMI, a fee of Rs. 1000 - 2500 applies.
You can see the detailed breakdown of personal loan fees and charges here.
You can easily calculate the EMI for a personal loan of INR 80,000 with our free-to-use EMI calculator. Here’s how:
The calculator will instantly provide you with the EMI figure, helping you understand your monthly payments. You can experiment with different interest rates and loan tenures to see how they impact your EMI. However, please note that the final interest rate lies at the discretion of SMFG India Credit.
Alternatively, you can also calculate EMI manually using the formula:
EMI = [P × r × (1+r)^n] / [(1+r)^n – 1]
where P is the loan amount, r is the monthly interest rate, and n is the tenure in months.
An INR 80,000 personal loan from SMFG India Credit offers a swift, hassle-free solution for urgent financial needs. With competitive interest rates, a 100% online application process, and quick disbursal, it's an excellent choice for managing unexpected expenses. Understanding the eligibility criteria, required documents, and associated fees can help you navigate the application process smoothly. Use the online EMI calculator to plan your repayments effectively. Before you apply online, we recommend you check our free personal loan eligibility calculator to estimate the maximum loan amount you may be able to get.
* 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.
To get a personal loan of INR 80,000, salaried individuals must have a minimum monthly income of INR 25,000 if residing in Mumbai or Delhi and INR 20,000 for other cities. This ensures the borrower can manage the loan repayments comfortably, meeting the lender's eligibility criteria. Self-employed candidates must meet minimum annual turnover requirements that may vary depending on the nature of the profession or the domain of work.
To apply for an INR 80,000 personal loan, you typically need a credit score of 750 or above. This high score demonstrates good creditworthiness, increasing your chances of loan approval and possibly securing better interest rates.
The EMI amount for an INR 80,000 personal loan depends on the interest rate and loan tenure. At an interest rate of 13%* per annum, a 1-year loan tenure results in an approximate EMI of INR 7,145. For a 5-year tenure at the same interest rate, the EMI is approximately INR 1,820*. Use an EMI calculator for precise figures based on your terms.
Yes, you can avail of an Insta personal loan in a financial emergency. These loans offer quick approval and disbursal, often within hours. They require minimal documentation and are processed online, making them convenient during urgent financial needs. Ensure you meet eligibility criteria such as credit score and income requirements to expedite approval for an Insta personal loan.
You can take our personal loan for a variety of reasons.
Wedding Expenses
Higher Studies
Exotic Vacations
Hobbies
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