Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.
A financial emergency can come knocking on anyone’s door regardless of age. It may also be the case that you are facing a temporary financial crunch, and your pension is due next month. You can use your pension as leverage and opt for personal loans for senior citizens to meet current financial obligations or unforeseen expenses. You may also be staring at opportunities that need to be capitalized on at that very time and will slide away if not seized with the aid of financial resources.
We, at SMFG India Credit, want to debunk the myth that lenders are reluctant to offer loans to senior citizens, retired or older folk. We, at SMFG India Credit, are excited to partner with you to achieve your goals and objectives, and our enthusiasm to serve you will lessen in no degree irrespective of your age.
The monthly pension acts as collateral and guarantee for a personal loan for pension holders. Many times, a guarantor is also required to pay off the remaining credit in case an unfortunate event like sickness or accident besets the pension holder, where the pensioner is unable to repay the loan.
Cash crunch can be difficult for pensioners, with the fixed pension amount coming in next month every time. In such cases, it is better to avail a personal loan. Here is a list of reasons to why you should apply for a personal loan:
We, at SMFG India Credit, make personal loans, accessible to pensioners by listing down the bare minimum, transparent criteria to procure loans, which make a lot of pensioners with stable pensions eligible for our wide variety of loans:
If you opt for a personal loan for pensioners at the age of 60, you are provided 60 months to repay the loan in full. Similarly, if you take a loan at the age of 63, you are offered 24 months to repay the loan. The amount a pensioner is eligible for can be 12 to 18 times the monthly pension that the pensioner is receiving or a predetermined amount decided by SMFG India Credit at the time of application of the loan, whichever is lower. So, if a borrower is getting Rs.50,000 as a monthly pension, the amount that can be borrowed is 6 Lakhs to 9 Lakhs.
You can apply for a personal loan online on the SMFG India Credit website. This will take you to a page where we’ll ask you details about you to provide loans customized and personalized specifically for your needs. You are then required to upload documents from the multiple options to validate the information provided by you.
* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.