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

A personal loan is a loan taken by an individual from any financial institution. The borrower can use this loan to fulfill several personal needs such as dream vacation, education, wedding etc. At SMFG India Credit, we offer customised products to suit the needs of every customer.

What is the Personal Loan Disbursement Process?

At SMFG India Credit, a personal loan can be applied either online or offline. In our branches, we offer free consultation and guidance on the ideal funding option depending on your requirements. As an alternative option, you can also apply online on our website and get quick approval of loans. Please check the required documents and keep them ready while applying online.

We offer customised personal loans upto INR 25 lakhs* at interest rates starting from 11.99%* with flexible repayment tenures between 12 and 60 months. The personal loan disbursement process at SMFG India Credit is simple, transparent and straightforward. However, it is important to understand the application process before we discuss the disbursement process, since the latter cannot happen if your application doesn’t get approved.

Personal Loan Online – Application Process

  1. Open the SMFG India Credit website and Click on the “Apply Now” button on the top right of the page. This will take you to another page, where you can select “Personal Loan”. Here you will be asked about your employment, choose Salaried or Self-employed relevantly. 
  2. Next step is to fill out the online form.  This needs your mobile verification hence provide your 10 digits mobile number to receive 6 digit OTP and verify it. 
  3. Please enter all the personal fields as requested on the online form page and click “Next”.
  4. On this page, you will be asked about your employment information. Please provide all the details and proceed to the next page by clicking on “Next”.
  5. Enter the bank details to proceed to the next step.
  6. Here you will be asked to upload your documents. Please upload scanned, clearly visible photocopies of all the required documents.
  7. Once after the successful upload click Submit to complete your online application.

Personal Loan Disbursement Process

  1. Depending on your eligibility for a personal loan, you will be instantly informed if your application is approved after submitting your online application. If you have applied through a branch, this information will be shared with you within 1-2 days.  
  2. If your application has been approved, within a short time, our customer service representative will contact you to process the application. 
  3. Your application will then be subjected to various checks - based on your creditworthiness, authenticity of documents and fit as per SMFG India Credit’s policy at the time of application. Depending on your individual profile, you may be contacted for additional information or documents.
  4. If your application passes all checks, your loan gets approved. You will once again be contacted for the loan agreement, after which your loan will get sanctioned. After this step, the personal loan disbursement process takes place directly into your bank account within 30 minutes*. That said, the personal loan disbursement time can vary at times. 
  5. You will get the following documents after your loan is sanctioned:
    1. Loan agreement – this document will contain the terms of your loan, such as loan amount, interest rate, tenure, and details of any charges such as processing fees, etc. Your loan will get approved only after you agree to the terms in the loan agreement.
    2. Schedule – This document will contain the details of your repayment schedule – day of the month, mode of payment, EMI amount (with breakup), principal outstanding after each payment, and so on.
  6. The amount is then disbursed either directly to your account, or you will receive a cheque at your registered address via a secure channel. Please note that this amount will be the amount after deduction of processing fees.
  7. You can use track your application status via our Contact Us page.

Application through other channels:

Apart from the online process we also have the following facilities through which you can apply for a personal loan:

  1. Nearest SMFG India Credit Branch: Please visit any of our branches for the quick processing of Personal loan
  2. Chatbot Dia: Contact us through our chatbot and enjoy the digital experience of our online personal loan application process.
  3. Telephone: Call our toll free number 1800 103 6001  9:00 AM to 7:00 PM on all days (except Sundays and public holidays)  to get immediate assistance
  4. SMFG India Credit Instaloan App: If you are salaried, you can also apply via the Instaloan app which can be downloaded from Google Play Store.  

*Loans are disbursed at the sole discretion of SMFG India Credit. Please note that final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application

SMFG India Credit Personal Loan Rates   Check Personal Loan Eligibility  

* 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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