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

How to Get Low Interest Rates for a Personal Loan? (InfoGraphic)

Personal loans in India help you realise your dream of an indulgent holiday, a home renovation, a destination wedding or purchasing an expensive gadget. One can get a personal loan from SMFG India Credit that can be used to meet any type of short-term financial obligation.

Features of a Personal Loan from SMFG India Credit

  • Get the best personal loans through a convenient and contactless online application process.
  • Our range of comprehensive personal loan products do not require collateral or a guarantor. 
  • Apply for an amount up to Rs. 25 lakhs with minimal personal loan documentation supported by a hassle-free and instant in-principle* loan approval process.
  • Use the personal loan calculator on the SMFG India Credit website to get an estimate of the personal loan amount that you may be eligible for.

Tips to Get Personal Loans at Lowest Interest Rate

  • How do you ensure that you get the lowest interest rate on a personal loan? Here are some tips that may help
  • A Good Credit Score & History Helps
  • Having a credit score of 750 and above shows that you are a creditworthy candidate
  • Having a history of timely repayments denotes to the lender that you are a responsible borrower 

Check If You Pre-Qualify:

  • A track record of making payments on time is valuable to the lender as you may then qualify for customised personal loan offers. Check with your existing lender if you can get such an offer
  • Check the lender’s basic personal loan requirements and make sure that you meet these before applying. 

Repayment Capacity:

  • Use our online personal loan eligibility calculator to get an idea of the maximum loan amount you may be able to get.
  • If you need a larger amount, add a close family member with a good cibil score and income as a co-applicant or pay of your existing debts
  • Ensure that not more than 30% of your monthly income goes towards financing existing debts
  • Choose an amount within the maximum loan eligibility amount

Shorter Repayment Tenure:

  • Most personal loans come with a repayment tenure of 12 to 60 months
  • Opt for the shortest repayment period where the interest component will be paid for a lesser period of time
  • Use a Personal loan EMI calculator to understand your monthly payout and then select a tenure that achieves a balance between the shortest possible tenure versus a comfortable monthly EMI that would not strain your budget.

Check Offers: 

  • It will be unwise to accept the very first personal loan offer that you come across.
  • Instead, take time to research, list your requirements and expectations and align them with your financial capabilities.
  • Before applying for the loan, check the lender’s terms thoroughly - such as whether interest rate offered will be charged on a monthly or annual basis, loan tenure, fees & charges and so on.


  • The lowest interest rate may not always be the best financial solution as it may come laden with fees, terms and conditions
  • Use the personal loan emi calculator available on the SMFG India Credit website to plan your loan better 
  • Check the eligibility criteria and maximum loan amount you can get before applying for the loan
  • Find out more about personal loan interest rates offered by SMFG India Credit by speaking to their friendly SMFG India Credit customer service team.


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