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Published on Mar 9, 2023Updated on Apr 16, 2025
Securing a personal loan can be a challenge. Especially if you have bad credit or limited income, it can be difficult to secure the loan you need. The key is understanding what lenders are looking for and how to make your personal loan application stand out from the rest.
In this blog post, we’ll discuss 6 tips that will help you improve your personal loan application and increase your chances of getting approved. From understanding credit scores to shopping around for the best terms, these tips will give you an edge when it comes to securing a personal loan.
A personal loan is a type of unsecured loan, which means that it is not backed by any collateral. Personal loans can be used for a variety of purposes, including debt consolidation, home improvement projects, or major life events such as weddings or vacations.
Must Do: What are the Required KYC Documents for Loan Approval?
Here’s how you can apply for a personal loan at SMFG India Credit:
Enter your mobile number, PAN, pincode, and select your employment type (salaried or self-employed) to proceed.
Authenticate your mobile number by entering the 6-digit OTP received on your device.
Provide your email address, date of birth, gender, and annual household income. Verify your email ID as well.
If you're a salaried individual, provide your employment details for further processing.
Provide your bank statement through Net Banking, an Account Aggregator, or by uploading the document. This will enable us to generate a loan offer (salaried applicants only).
Take a selfie to complete the identity verification process and share address information through CKYC, Offline Aadhaar XML-based KYC, or DigiLocker.
Provide your bank account details for verification to proceed.
Post bank verification, share information such as loan purpose, marital status, father’s name, and mother’s maiden name in the ‘Additional Details’ section.
Choose your preferred re-payment mode – debit card or internet banking – and set up E-NACH.
Go through the loan agreement carefully, digitally sign it, and validate the process using the OTP sent to your registered mobile number.
Completing these easy steps moves you closer to achieving your financial aspirations.
When you're applying for a personal loan, there are a few things you can do to improve your chances of getting approved. Here are some tips to keep in mind:
Must Do: How Do I Know If I Qualify For a Loan?
With the right preparation and research, you can make sure your application stands out from the rest. Our 6 tips are designed to help you navigate the personal loan application process and increase your chances of successfully securing a loan that best fits your needs.
So take some time to read through these tips carefully, understand what is required of you as an applicant, and use them as a guide when making your next personal loan application.
Get quick cash disbursements at affordable personal loan rates of interest, and amounts up to INR 30 Lakhs* from SMFG India Credit. Check your eligibility through our online calculator and go through the documents required for a personal loan. Apply now!
* 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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