Rural Individual Unsecured Loan (GEL): What You Need to Know

We can never put a fixed number on our monetary requirements. However, we can always plan for our short-term goals. Be it for business or personal reasons, there are several scenarios where one might require financial assistance.

SMFG India Credit aims to provide financial assistance in such cases wherein the requirement ranges between INR 35,000 to INR 5 lakhs*. Most importantly, we understand that while individuals aspire to grow, they often face hurdles in terms of documentation and processes. That’s why we have made things simpler and more convenient for you.

No income documents are required for loan amounts of up to INR 3 lakhs*, provided a co-applicant is present.

1. For salaried profiles with co-applicants, no income documents are required for a monthly salary of up to INR 20,000.

2. For salaried profiles without co-applicants, no income documents are required for a loan amount of up to INR 1.25 lakhs*.

3. For self-employed profiles without co-applicants, bank statements and GST details are mandatory*.

*Applicable for selected variants.

GEL Interest Rates and Charges

SMFG India Credit offers competitive interest rates on Rural Individual Unsecured Loans (GEL), with the final rate determined based on your overall credit profile and loan eligibility. Along with interest rates, it is important to understand the associated loan costs, including foreclosure charges, before applying.

GEL Foreclosure Charges

*The pre-closure charges for GEL & its variants will be NIL for loans classified as Microfinance loans.

To view complete details on foreclosure charges, the loan closure process, and any additional requirements, please explore this page.

Features & Benefits

No Income Documents Required

For loan amounts of up to INR 3 lakhs*, salaried professionals with a monthly salary of up to INR 20,000 are not required to submit ITR or salary slips, provided there is a co-applicant.

Loan Amount Starting @ INR 35,000

You can avail of SMFG India Credit's Rural Individual Unsecured Loan (GEL) for any amount between INR 35,000 and INR 5 lakhs*.

Loan Disbursed within 2 days*

Once the loan is processed, which usually takes around five days, the amount is disbursed within 48 hours*.

Cashless Repayment Option

You can repay the loan using various digital transaction options like NACH, e-NACH, UPI, etc. You do not have to visit our branch and can opt for seamless digital EMI repayment.

No Post-dated cheque required for loans in Rural Individual unsecured Loans

You do not have to worry about any financial commitment prior to the disbursement of the loan.