Want to buy a car but do not have the required funds for a down payment? Not sure if you can use a personal loan for a down payment of a car? Yes, you can!
Get an instant personal loan from SMFG India Credit that fulfils any funding deficit that you may have for a down payment at the point of purchasing your brand new car. Requiring minimal paperwork which can be completed online, your personal loan can be in your bank account in as less than 72 hours from application*.
Make sure that you first check your eligibility to avail a personal loan from SMFG India Credit by using the personal loan calculator available on the website. Every applicant must be able to satisfy the given eligibility criteria:
Meeting the eligibility parameters is just the first step. You need to then upload the following personal loan documents to proceed to the next phase. Here is a list for your reference:
Both salaried and self-employed individuals can avail personal loan interest rates that start from 11.99% at SMFG India Credit. However, the final interest rate offered to you will depend on your eligibility. Other factors that can also influence the rate of interest are your credit history and income, overall profile and current financial status.
A processing fee component of up to 6% will be applicable on the loan amount sanctioned. Personal loans by SMFG India Credit come with a flexible repayment tenure of 12 to 60 months.
Making an application for a personal loan for a down payment of a car at SMFG India Credit is a simple and straightforward process. Follow the steps as given below:
A customer service agent from SMFG India Credit will get in touch with you once you have submitted the application form and documents online. Alternatively, you can always reach out to the customer support team on their toll free number (1800 103 6001) or email us at .
*Terms and Conditions apply
You can take our personal loan for a variety of reasons.
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