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

While taking up a personal loan, it is important to know all details about the lending institution and the loan type. Some parameters you must consider are maximum principal amount allowed, maximum tenure for personal loan, documents required, eligibility criteria, personal loan time period, interest rates, and processing charges.

This article talks about personal loan minimum tenure and personal loan maximum tenure to help you understand how to prepare for your personal loan.

Personal Loan Tenure

Depending on your choice of financial lending institution, your personal loan tenure can vary. It is important to know the personal loan time period because it can help you plan the loan amount and repayment terms.

For example, if you wish to take out a personal loan for further education, then choosing a personal loan time period that is around 2 years can be beneficial since you can repay the amount comfortably. If you want to arrange for a wedding in the next one year, then knowing the personal loan minimum tenure can help you plan your finances.

With a lender like SMFG India Credit, the personal loan tenures are as follows:

Personal Loan Minimum Tenure: 12 months

Personal Loan Maximum Tenure: 60 months

The benefit of a low repayment tenure is that you can get rid of your financial obligations to a lender early and need to pay low interest overall. However, with a longer personal loan time period, you can comfortably fit in your EMIs with your income. It is recommended that low-income individuals take longer repayment tenures.

For an online personal loan of INR 4,00,000 at 11.99%* per annum interest rate, the following are the calculations for EMI according to SMFG India Credit’s personal loan EMI calculator:

With a minimum tenure of 12 months, EMI = INR 35,538.
But the total interest payable comes to INR 26,452.

With a maximum tenure of 60 months, EMI = INR 8,896.
But the total interest payable comes to INR 1,33,745.

Online Personal Loan Details

The eligibility for a personal loan is:

  • The applicant must be a Resident Indian citizen with an age between 21 and 60.
  • Applicants from Delhi or Mumbai must have a minimum monthly income of INR 25,000. Those from other cities must earn INR 20,000.
  • Minimum CIBIL score must be 750 or above.
  • EMI must be a maximum of 60-70% of the monthly income. 

The personal loan documents include:

  • Identity proof (Aadhaar or PAN card, passport, licence, or voter’s ID)
  • Signature proof (Passport, PAN card, or rental agreement)
  • Address proof (Driving licence, utility bills, ration card, or telephone bill)
  • Bank statements for the past 6 months
  • ITR documents 


Decide upon your online personal loan only after thoroughly looking through all crucial details that can impact your financial health. With the maximum tenure for personal loan being 60 months and personal loan minimum tenure being 12 months, you can draw up a repayment plan that suits your daily lifestyle and income and with utmost comfort, you can pay back your principal amount with interest without affecting your CIBIL score.

With SMFG India Credit’s interest rates starting from only 11.99%* per annum, you can take up your online personal loan for up to INR 25 lakhs* and make the most of your personal achievements and pursue your financial goals. To know more about your eligibility for a personal loan, check out SMFG India Credit’s personal loan eligibility calculator. This will help you plan your loan efficiently!

Apply for Personal Loan

* 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

Reasons to buy

You can take our personal loan for a variety of reasons.

Wedding Expenses

Wedding Expenses

Higher Studies

Higher Studies

Exotic Vacations

Exotic Vacations