Personal Loan of INR 80,000

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.

Features and Benefits of INR 80,000 Personal Loan

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:

• 100% Online, Paperless Application Process: Apply for an INR 80,000 loan from the comfort of your home without needing your physical presence in any branch. This ensures a hassle-free experience from start to finish. We ask for only a few essential documents during the application process, making it even more convenient.
• Quick Personal Loan Approval: Depending on the information you have submitted, you can get an instant online approval. However, the process may take a few days if you opt for offline applications.
• Swift Disbursal of Funds: Receive your loan amount swiftly and directly in your account within 30 minutes* of loan approval. This helps you manage urgent expenses without delay.
• Competitive Interest Rates: Interest rates are competitive and start at only 13%* per annum. They ensure that you can manage your finances better with lower monthly payments and reduced cost of borrowing an INR 80,000 loan.
• No Hidden Charges: Enjoy transparent terms and conditions with no surprise fees, providing peace of mind throughout the loan process.
• Minimal Processing Fees and Time: A smooth application process involves minimal processing fees and a quick turnaround, so you can focus on what matters most.
• Flexible Tenures: Choose repayment options that best suit your financial situation. Whether short-term or long-term, we offer flexible tenures from 12 months to 60 months* to accommodate your needs.
• No Collateral Needed: Secure an INR 80K personal loan without having to pledge any asset, perfect for personal and small business needs.

How Much EMI Will I Need to Pay for a Personal Loan of INR 80,000?

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.

How to Apply For an INR 80,000 Personal Loan?

Follow these steps to easily apply for an INR 80,000 loan at SMFG India Credit:

1. Visit the online application page, enter the requested personal details, and verify your mobile number with an OTP.
2. Add further details related to your income, existing financial obligations, and so on.
3. Select your preferred offer from the ones you receive based on basic criteria such as your credit score, income, existing debts, etc. 
4. Receive the approved funds in your bank account within 30 minutes* of your INR 80,000 personal loan approval.

Eligibility Criteria to Get Personal Loan of INR 80,000

To qualify for an INR 80,000 personal loan, applicants must meet specific criteria:

1. Salaried Individuals: Age 22-65, resident Indian, credit score 750+, 1-year work experience, minimum monthly income of INR 25,000 (Mumbai/Delhi) or INR 20,000 (other cities).
2. Self-Employed Individuals: Age 25-65, resident Indian, credit score 750+, at least 3 years in business, and meet income thresholds.

Please check the detailed eligibility criteria here. The final eligibility will depend on several factors including our policy at the time of loan application.

Documents Required for INR 80,000 Personal Loan

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.

Interest Rates and Fees for INR 80,000 Personal Loan

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 6%* of the 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 INR 300 per instance. If you cancel your loan before the first EMI, a fee of INR 1,000 applies. 

You can see the detailed breakdown of personal loan fees and charges here.

How To Calculate EMI on an INR 80,000 Personal Loan

You can easily calculate the EMI for a personal loan of INR 80,000 with our free-to-use EMI calculator. Here’s how:

• Enter INR 80,000 as the loan amount.
• Input the interest rate and desired loan tenure.
• Click “Calculate” to view your EMI amount.

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.

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