Published on Feb 12, 2020Updated on Oct 7, 2026
SMFG India Credit Personal Loans are synonymous with transparency, competitive personal loan interest rates, and simplicity. We hand-hold our clients in each step of the application process. We support you in fulfilling your dreams and respect your every dream and aspiration. Get your money promptly after final loan approval. You can apply for a paperless loan online, and receive a loan exactly as per your current needs. We offer attractive personal loan interest rates based on your eligibility and profile.
We strive to be India’s preferred financial partner by making your every dream into a reality and delivering on our promises. Be it home renovation, wedding celebration, medical needs or for any other personal need, SMFG India Credit has a solution for you. Our personal loan offers competitive personal loan interest rates customizing one’s needs.
There are many advantages of SMFG India Credit Personal Loans:
SMFG India Credit recognizes that needs are changing. And with that what is being offered needs to change too. Hence we have a diverse range of personal loans at low personal loan interest rates to meet every need.
Must Read: Personal Loan Tax Benefits in India
Our best in value personal loan interest rates are offered as per each customer’s individual profile to best match all your needs.
|
Fee Type |
Applicable Charges (Rs.) |
|
Late Payment Charges |
2% per month (24% per annum) on overdue amount calculated on day to day basis payable from the relevant due date till date of actual payment |
|
Repayment Instrument dishonor Charges per presentation |
INR 500 |
|
Swap Charges - for any change in repayment instruments |
INR 500 + GST |
|
Swap Charges for substitution of bank for ECS (per instance) |
INR 500 + GST |
|
Personal Loan Cancellation charges (in case the loan is canceled before first EMI) |
INR 1,000 + GST |
|
Processing Fees |
Up to 4% of the total loan amount + GST |
| No. of EMIs paid (Excluding Pre-EMI) | Foreclosure Charges |
| 0 to 17 EMI(s) fully paid | 7% of the Principal Outstanding |
| 18 to 23 EMI(s) fully paid | 5% of the Principal Outstanding |
| 24 to 35 EMI(s) fully paid | 3% of the Principal Outstanding |
| 36 or more EMI(s) fully paid | 2% of the Principal Outstanding |
Please note that as per our current policy, we only accept prepayments on personal loans in full. Thus, if you wish to prepay or foreclose your personal loan, you must be prepared repay the entire outstanding amount along with applicable fees and charges.
Depending on one’s profile and loan type, additional documents may be requested at the time of application.
Must Read: How to Check CIBIL Score for Personal Loan?
The main factor in determining one's loan eligibility is creditworthiness. This information is taken based on the CIBIL score, where each person's CIBIL score is recorded based on past credit history. But at SMFG India Credit, some other factors are also considered to determine creditworthiness. This is done based on one's unique financial profile based on many factors, including your age, location, income, expenses and employment. Our simple-to-use, free personal loan eligibility calculator is available online.
Here are a few basic personal loan eligibility for SMFG India Credit personal loan:
If you would like to explore further, our team is a phone call away. We are also available over email and chat to take you through any queries.
Important Note: This article is for general informational purposes only and may be subject to change from time to time. As product features, eligibility criteria, interest rates, charges, fees, tenures and other terms may be revised as per SMFG India Credit's policies, readers are advised to refer to the latest details from the respective product pages (please select from the top menu). For the latest loan charges, please visit Charges & Fees Link and for the latest Interest rates, please visit Interest Rate Rationale. Please note that final loan terms, disbursement process and eligibility criteria will depend on SMFG India Credit's policies at the time of loan application.
The content of this article is for information purposes only and does not constitute as, an offer or advise to avail any products or services from, or, a commitment to grant any loan by the company. It is not intended to create any rights or obligations against us. All content is provided "as is" without any warranty of any kind, either express or implied & we disclaim any warranty or representation, whatsoever, in regards to the content. Please refer to the Privacy Policy of the company to understand the use, processing and storage of your personal data.
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Insurance disclaimer SMICC is registered with the Insurance Regulatory and Development Authority of India (IRDAI) as a Corporate Agent. IRDAI Registration No.: [CA0098] CIN No. U65191TN1994PLC079235. The insurance policy is a contract between the customer and the insurance company, and policy is underwritten by insurance companies. SMICC acts only as the distributor and is not responsible for any risk, policy issuance, claim settlement/repudiation etc. Insurance is the subject matter of solicitation. Purchase of insurance is voluntary and subject to insurer underwriting and policy terms and conditions. Customers are advised to read the policy terms and conditions, benefits, exclusions, claim settlement carefully before purchase. Kindly note that “Insurance Products” are not mandatory for the purpose of the application and disbursement of loan. It shall be the sole discretion of the customer, by providing explicit consent, to avail such insurance along with the Loan.
Beware of Spurious calls/ Fraud phone calls IRDAI is not involved in activities like selling Insurance policies, announcing bonus or investment of premium. Public receiving such phone calls are requested to lodge a police complaint.
