Personal Loan for 12 Months

Personal loans which are generally unsecured in nature are a popular financial product that helps millions of Indians meet their needs for immediate funds. Be it a wedding, a course fee, a holiday, home improvement or healthcare needs, personal loans are a 'no questions asked’ product that can be used for any purpose.

SMFG India Credit offers personal loans for a 12 months repayment period for up to Rs. 25 lakhs that can be availed by both business enterprises and individuals. To ascertain the loan amount and the instalments you will have to pay every month during the repayment period, you can simply use the personal loan EMI calculator that is available on the SMFG India Credit website.

Meet the Required Eligibility Criteria

The process to avail of personal loans for 1 year at SMFG India Credit is quite simple and hassle-free. Minus the requirement of collateral ensures a quick turnaround if the applicant is able to successfully meet all the required eligibility parameters.

The basic criteria include:

• Be a citizen of India
• Be between 21 and 65 years of age at the time of loan application
• Be a salaried employee at a private or public enterprise with at least INR 25,000 monthly salary (residents of Mumbai and Delhi) or INR 20,000 (rest of India). 
• Demonstrate a regular source of income for self-employed individuals

Have a minimum CIBIL score of 750

You can also plan your loan using our free personal loan eligibility calculator that helps you with an estimate of the maximum personal loan you can get based on your disposable income.

Documents Required For a Personal Loan

If the eligibility parameters are successfully met, you can proceed towards making a formal personal loan application. Just click on the “Apply now” button on this page. The form can be filled and submitted online from anywhere and at any time.

Simply fill in the mandatory fields with all the required personal, financial and employment related information. You may be required to share your Aadhaar and PAN card numbers in the form too.

As soon as the form is submitted, you will receive a notification to proceed towards submitting softcopies of all the required documents. These include:

• Proof of identity – PAN card, voter’s ID, passport, driving license  
• Proof of address – Utility bills, passport, rental agreement  
• Proof of age  
• Passport size photographs   

In addition to the KYC documents, applicants will need to provide:

For salaried individuals:

• Past 3 months’ salary slips.
• Last 6 months bank account statements

For self-employed individuals:

• Last three years income tax returns
• Last 6 months bank statements
• Sales tax returns
• TDS Certificate
• Company details

At this stage, you will be required to indicate the amount of personal loan that you are seeking from SMFG India Credit. If you are eligible for pre-approved offers, SMFG India Credit may be able to offer you preferential personal loan interest rates on the requested loan amount.

Information Verification

SMFG India Credit’s personal loan department will review your application, submit documents and will also run a check on your credit history, rating and overall report. If you have a credit score of 750 or above, the chances of your personal loan request getting approved are greater. 

If there are specific issues with your personal loan application, a customer service representative from SMFG India Credit will get in touch with you to sort it out.

Loan Sanction & Disbursal

If you get through SMFG India Credit’s vetting process successfully, then your 12 months loan will be sanctioned. An email will be sent to your registered address that will include the sanction letter along with the terms and conditions of the loan, loan amount, interest rates, repayment tenure, applicable fees and charges and any additional fine print.

You will be required to read the loan document carefully, sign on the dotted line and share a copy with SMFG India Credit. The funds will be disbursed to your registered bank account upon receipt of the signed agreement.

If you have any queries or questions, you can always get in touch with SMFG India Credit’s Customer Service team on their toll free number 1800 103 6001. Alternatively, you may email them at   or visit the SMFG India Credit branch near you.

Apply for Personal Loan   Calculate your EMI