How to Apply for a Personal Loan Online - Step by Step Process

Published on Feb 27, 2020Updated on Apr 10, 2025

How to Apply for a Personal Loan Online - Step by Step Process

A personal loan is unsecured, meaning you do not have to pledge assets to secure the funds you need. You are eligible to apply for the loan whether you are a salaried or self-employed individual. You can avail up to INR 30 lakhs* starting at an interest rate of 13%* per annum. The loan tenure is between 12 months and 60 months. You also have to pay a mandatory processing fee of up to 5% of the total loan amount + GST of the principal amount borrowed during the loan agreement.

Now that you are aware of the personal loan details, you may wish to know how to apply for a loan with us. At SMFG India Credit, we provide you the option to submit your personal loan application on our website. Alternatively, you can simply walk into your nearest SMFG India Credit branch office to apply in person and receive dedicated assistance from our expert representatives.

In this particular post, we will talk about how to apply for a personal loan online. It is a straightforward process that can be completed from the comfort of your home with minimal documentation:

How to Apply for a Personal Loan Online

Here’s how you can apply for a personal loan at SMFG India Credit:

  1. Enter Basic Details

Fill in your basic details, such as your mobile number, PAN, employment status (salaried or self-employed), and pincode.

  1. Authenticate Your Mobile Number
    Verify your phone number by entering the 6-digit OTP sent to your registered mobile number.
  1. Enter Additional Information

Provide more essential details, including your email address, date of birth, gender, and annual household income. Make sure to verify your email ID.

  1. Submit Employment Information

If you are salaried, provide the relevant employment details.

  1. Provide Bank Statement

Submit your bank statement via Net Banking, an Account Aggregator, or upload it directly. The provided banking details will be used to generate a loan offer (this applies only to salaried individuals).

  1. Complete Identity Verification

Proceed with the necessary digital identity verification and share address details via CKYC, Offline Aadhaar XML-based KYC, or DigiLocker. Note that taking a selfie is a necessary part of the identity verification process.

  1. Provide Bank Account Details

Submit your bank account details, which will be verified by us.

  1. Share Additional Information

Once we have verified the bank account details, you will proceed to the 'Additional Details' section to input data on your marital status, loan objectives, and parental details.

  1. Set Up E-NACH for Re-payment

Choose your preferred mode of re-payment from debit card and internet banking, and finalise the E-NACH setup.

  1. Digitally Sign the Agreement
    Carefully review the loan agreement, sign it digitally, and validate it by entering the OTP sent to your registered mobile number.

These easy steps will set you on the path towards achieving your financial goals with an SMFG India Credit personal loan. 

Final Words

You can apply for an SMFG India Credit personal loan online easily at any time of the day. All you need is a smartphone or laptop with an internet connection to submit the loan application, and we will revert to you as soon as possible. Before applying, we recommend using our personal loan eligibility calculator and EMI calculator to make informed borrowing decisions.

* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us

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