Personal Loan Eligibility

At SMFG India Credit, the personal loan amount which each customer can be eligible for depends on a variety of factors, including the company's policy at the time of loan application. For instance, you can get a personal loan amount of up to ` 30 lakhs*. However, if you are a doctor, you can get up to ` 30 lakhs*. For self-employed individuals, we offer collateral free personal loans of up to ` 10 lakhs*. Your unique requirements are special to us, and so to know the maximum amount you can be eligible for, we encourage you to contact us at the earliest.

If you do not have a CIBIL score and it is “NH” or “-1” because you don’t have a credit history, you can still apply with SMFG India Credit for a personal loan – just click on the “Apply now” button on this page to begin your online application journey. 

Applicants who already have a credit history should have a minimum CIBIL score of 750 to avail a personal loan from SMFG India Credit.

The personal loan limit depends on your monthly salary and existing financial obligations (EMIs). Your monthly income (after deduction of taxes) and financial obligations helps us calculate the maximum personal loan amount we can provide to you. We also take into account the interest rate applicable and tenure when calculating the personal loan amount you can get on your salary. To know more, please also see our personal loan eligibility calculator.

The personal loan age limit for salaried employees is 21 years and 65 years. For the self-employed, it is between 25 and 65. This means that you should be at least 21 (25 for self-employed) years of age at the time of loan application, and a maximum of 65 years of age at the time of loan maturity. If you meet the personal loan criteria for the applicant’s age, along with that for income, repayment capacity, credit score, documents, and others, then there is a high chance of your application getting approved. You can apply for the loan either online on our website or get in touch with us at the nearest branch office.

• At SMFG India Credit, one of the main criteria is that you must be a resident Indian, and to avail a personal loan, a salaried employee should earn a minimum net monthly salary. The exact amount depends on your place of residence.
• If you are a resident of Mumbai or Delhi, your minimum net salary should be at least Rs. 25,000; and if you are a resident of any other location in India, the minimum net salary is Rs. 16,000*.
• Please note that the personal loan limit will be also be determined based on your repayment capacity, which means monthly obligations will also be taken into account.
• Additionally, you should be at least 21 years of age at the time of loan application, and a maximum of 65 years of age at the time of loan maturity.
• You must be an employee of a private limited company or public sector undertaking. You must also have all the required documents for a personal loan.

At SMFG India Credit, one of the main criteria is that you must be a resident Indian. To avail of a personal loan as a self-employed individual, you should meet at least the following criteria - 

• Your minimum income will be based on the minimum annual turnover and yearly profit after taxes according to the nature of the profession or the domain of work.
• Your business must have been in existence for at least 3 years.
• Please note that the personal loan limit will also be determined based on your repayment capacity, which means monthly obligations will also be taken into account.
• Additionally, you should be at least 25 years of age at the time of loan application, and a maximum of 65 years of age at the time of loan maturity.
• You must also have all the required documents for a personal loan.