Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Vellore, a city in the southern Indian state of Tamil Nadu, holds historical and modern importance. Known for the Vellore Fort, a 16th-century granite fort that houses a church, mosque, and temple, the city reflects its diverse cultural heritage. The city's industrial landscape includes thriving leather and manufacturing industries. With a mix of historic charm, educational prowess, and economic development, Vellore stands as a dynamic city in the Tamil Nadu region.

In Vellore, the need for business loans is driven by the city's thriving economic activities and entrepreneurial ventures. Entrepreneurs and business owners often seek financial support to expand operations, invest in technology, hire a skilled workforce, and address working capital needs. With Vellore's diverse industrial landscape, including sectors like manufacturing and healthcare, business loans play a crucial role in sustaining and boosting local enterprises, contributing to the city's economic growth and development.

Features And Benefits Of Business Loans In Vellore:

A business loan in Vellore comes with several features and benefits tailored to support the unique needs of local entrepreneurs:

Online Application:

The process of applying for a business loan in Vellore is simplified through an intuitive online platform.

Attractive Interest Rates:

SMFG India Credit ensures that entrepreneurs in Vellore can access financial support with attractive and reasonable interest rates.

Customised Solutions:

Business owners in Vellore receive personalised offers, increased loan top-up choices, and the freedom to select convenient repayment durations.

Fast Approval:

Quick approval within 72 hours* in Vellore ensures that business opportunities are not missed, facilitating growth.

Accessible Digital Platforms:

Entrepreneurs in Vellore can easily manage their business loan accounts through user-friendly online interfaces and mobile apps, ensuring accessibility anytime, anywhere, and on various devices.

Eligibility Criteria For Business Loans In Vellore:

  • Applicant Type: Self-employed individuals, business proprietors, partners, or directors of established enterprises are eligible.
  • Nationality Requirement: Applicants must be Indian residents.
  • Age Range: Candidates should fall within the age bracket of 22 to 65 years.
  • Business Turnover: The business needs a minimum annual turnover of INR 10 lakhs.
  • Financial Stability: It requires a profit after taxes of INR 2 lakhs per annum, demonstrating financial stability.
  • Operational Experience: The business must be operational for a minimum of 3 years, indicating stability, experience, and consistent income over the past 2 years.
  • Creditworthiness: Applicants should have a CIBIL score of 750 or above.

Documents Required For Business Loan In Vellore:

Here is a summary of the essential list of documents required for your convenience:

Document Type


Identity Proof

Valid identity proof and PAN Card

Address Proof

Passport, Voter ID Card, Ration card, or Driving License

Bank Statements

Bank Statements for the past 6 months

Income Documents

Most recent two years' Income Tax Returns (ITR), along with the income computation, balance sheet, and profit and loss account for those same two years, following the necessary certification by a Chartered Accountant.

Proof of Continuation

ITR/Trade license/Establishment/Sales Tax Certificate

Other Documents

Sole Proprietorship Declaration or the Partnership Deed, copy of the Memorandum and Articles of Association, authenticated by the company director, and Board resolution.

Interest Rates For A Business Loan In Vellore:

SMFG India Credit tailors business loans in Vellore by assessing applicants' credit scores, business turnovers, and financial backgrounds and offering competitive interest rates.



Interest Rate

The interest rates, determined by factors like location, net income, business stability, collateral, and existing monthly obligations, are the lowest and most competitive.

Loan Amount

Upto INR 75 lakhs*

Loan Tenure

Upto 48 months*

Lowest EMI Per Month

Starting from INR 1,341 for 48 months

Cheque Dishonoured Charges

INR 300

Proceeding Fees

Upto 6.5% of the Loan Amount

Customer Type

Proprietor / LLP/ Pvt Ltd / Partnership / Public Ltd

Late Payment Charges

2% plus GST charged monthly (24% per annum) on the overdue amount calculated on day-to-day basis.

How To Apply For Business Loans In Vellore:

To apply for a business loan in Vellore with SMFG India Credit, follow these streamlined steps:

Step 1. Online Application: Visit SMFG India Credit's official website and navigate to the business loan section. Click on the "Apply Now" button to initiate the application process.

Step 2. Application Form: Fill in the required details accurately in the online application form. Provide essential information about your business, financials, and personal details.

Step 3. Document Submission: Upload the necessary documents, including recent photographs, valid identity proof (PAN card or Driving Licence), valid address proof (electricity bill or Passport), bank statements, GST or ITR documents, income proofs, and proof of business existence (Certificate of Incorporation).

Step 4. Verification Process: Once the application and documents are submitted, SMFG India Credit's executive team will verify the details and authenticate your request.

Step 5. Customized Loan Offer: Upon successful verification, you will receive a personalized loan plan detailing the loan terms, interest rates, and repayment options tailored to your business needs.

Step 6. Loan Disbursement: After verification and approval by the lending institution, the loan amount will be disbursed to your designated bank account.

SMFG India Credit strives to make the application process for business loans in Vellore seamless and efficient, ensuring timely financial support for your business growth.


In conclusion, choosing SMFG India Credit for your business loan needs in Vellore ensures a seamless and efficient financial solution. With a user-friendly online application process, competitive interest rates, tailored offerings, swift approval, and digital accessibility, SMFG India Credit prioritises the financial success of entrepreneurs in Vellore. Trusting SMFG India Credit translates to a reliable partner committed to supporting your business growth by providing the necessary capital with transparency and convenience. Opting for SMFG India Credit is a strategic move towards securing the financial foundation your business requires in Vellore. Click here to initiate your business loan application.

*T&C Apply

Apply for Business Loan

* 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.

Contact Us


First Floor, No:-7/A, 1st East Main Road, MC Gandhi Nagar, Vellore - 632006, Tamil Nadu

Note: Call on (Toll free number) 1800 103 6001 for more information.Timings: 9:30 AM to 6:30 PM (except 1st Saturday and Sundays and public holidays).


How is my eligibility for a business loan in Vellore evaluated?

Your eligibility for a business loan in Vellore is determined based on factors such as location, income, bank balance, debt-to-income ratio, and credit history. Having a credit score of 750 or higher and settling outstanding debts enhances your eligibility.

What advantages come with applying for an online business loan in Vellore?

SMFG India Credit provides competitive interest rates on business loans up to INR 75 lakhs*, offering cost-effective capital for local Vellore businesses. With transparent eligibility criteria and a streamlined documentation process, quick financial assistance is tailored to your business's needs.

How can I secure a reduced interest rate on my Vellore business loan?

Choosing debt refinancing strategically helps lower loan interest rates and alleviate financial pressures. If your business's financial health has improved since obtaining the initial high-interest loans, consolidating debts into a single loan may result in a reduced interest rate, simplifying repayments and improving financial stability.

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