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

Calculate Personal Loan EMI

12 Months60 Months

Assuming annual interest rate of 11.99

Calculated EMI*   11,767  Apply For Loan

Loans Upto ` 25 Lakh*

Quick Disbursal

Minimal Documentation

Flexible Tenure

Personal Loan For Salaried

Whether you want to clear your debts, bring home your dream vehicle, fund your child’s wedding or higher education, a personal loan is the perfect credit instrument. It helps you meet your financial requirements for various needs at short notice.

It is quick, easy and convenient to apply for a personal loan with us. With our bouquet of offerings, we ensure that your changing needs are met with tailor-made repayment solutions. Our solutions are smart, simple and flexible, which is what makes us stand apart - making sure that you get the best possible value for your hard earned money.

Our team is well equipped to ensure that you have the smoothest journey from application to getting your funds in hand.

Personal Loan Eligibility for Salaried

Now realise your dream of an indulgent holiday, a home renovation, a destination wedding or purchasing an expensive gadget with SMFG India Credit’s flexible and easy-to-get personal loan for salaried person. We offer a comprehensive range of personal loans that help you to meet unexpected expenses and the cost of medical emergencies too.

If you are planning to take a personal loan, then be sure to check out personal loan eligibility for salaried person:

  • Nationality – You must be an Indian
  • Age – You should be between 21 and 60 years
  • Profession – You should be a salary drawing employee of either a public sector company or a private sector company.
  • Minimum Monthly Income – If you live in Mumbai/Delhi, your salary should be at least Rs 25,000 per month. If you are from any other city in India, your salary should be at least Rs 20,000 per month.
  • Minimum credit score – The minimum credit score to fulfil personal loan eligibility criteria for salaried person is 750*
  • Work Experience – To avail a personal loan for salaried person, minimum work experience of one year is necessary. The borrower should also have worked in the current workplace for at least 6 months.

Documents Required for Personal Loan for Salaried Person

We believe in keeping things simple which is why the documents required for personal loan are minimal. Keep these personal loan documents for salaried handy for speedy approval.

  1. The loan application form must be duly filled and signed.
  2. A passport sized photograph that is not older than 6 months.
  3. Any one proof of identity - Aadhar Card, Voter ID, PAN Card, Passport, etc.
  4. Any one proof of address - Aadhar Card, Voter ID, Passport, Bank Passbook or Statement, Rent Agreement, Utility Bill, etc.
  5. Any one proof of age - Aadhar Card, Voter ID, Passport, School or College Admit Card, etc.
  6. Salary slips for last three months, form 16 and ITR for the last 2 years for salaried individuals.
  7. Bank statements for six months for salaried individuals.

You can submit all the required documents for a personal loan for a salaried person online. All the paperwork must be signed prior to uploading them online.

On the other hand, you can get a request for a SMFG India Credit executive to collect the paperwork at a location of your convenience at a mutually convenient time.

All the submitted documents will be verified by SMFG India Credit before the personal loan is sanctioned.

Features of Personal Loan for Salaried

The personal loan for salaried from SMFG India Credit is feature rich. This means that you do not waste time on time consuming processes to get your loan approved. Our custom designed tailor-made personal loan for salaried individuals is a convenient yet affordable financial solution that enables them to meet their short-term needs for funding. SMFG India Credit’s personal loans are the top choice for existing and new customers alike. The personal loan for salaried features and benefits include:

  • Multi-purpose Loan: SMFG India Credit’s personal loans can be used to meet any financial requirements like marriage, home renovation, higher education, travel, medical, debt consolidation, etc.
  • No Collateral Requirement: Our personal loan for salaried are not accompanied with the requirement of a collateral or co-guarantor sign-off that helps minimise financial stress
  • Minimal Paperwork: Meet your personal loan requirements by applying for an amount up to Rs. 25 lakhs* against minimal paperwork that is supported by a hassle-free and instant loan approval process.
  • Flexible Tenure: Choose a tenure when you apply for a personal loan from SMFG India Credit that offers you the flexibility of repayment in easy monthly instalments across a period of 12 to 60 months. SMFG India Credit’s personal loan for salaried features is designed not just to take care of your necessities but also to help you reach your life goals.

Personal Loan Interest Rates and Charges for Salaried

Eligible salaried employees can get a personal loan at an interest rate as low as 11.99% per annum*. This means that your lowest EMI can be only INR 2,224* per lakh, leaving you with more funds for your personal aspirations.

Personal Loan Interest Rate

Starting at 11.99% per annum

Loan Amount

Up to INR 25 Lakhs*

Loan Tenure

12 - 60 months

Processing Fee

Between 0% - 6% of the loan amount

Prepayment Charges

0% - 7%

Loan Cancellation Charges (Loan Cancelled Before First EMI)

INR 1000

Late Payment Charges (Applicable for Payment Default)

2% plus GST charged monthly (24% per annum) on the overdue amount calculated on day-to-day basis

Cheque/ECS/NACH Dishonoured Charges

INR 300

Steps to Apply for a Personal Loan for Salaried

You can apply for a personal loan at SMFG India credit online or offline.

How to Apply Online

  • Visit our online application portal.
  • Start by entering essential details like your mobile number, PAN, pincode, and employment status (salaried or self-employed).
  • Verify your mobile number by inputting the 6-digit OTP sent to your device. Don't forget to verify your email ID too.
  • Next, provide additional information such as your email address, date of birth, gender, annual household income, and work history.
  • Check out the customized loan offer that suits your requirements, including the loan amount, repayment terms, and fees. Once you're happy with the offer, confirm your acceptance. You can also opt for a higher loan amount.
  • If you're a salaried individual, furnish the necessary employment particulars.
  • Complete the identity verification process by taking a selfie and sharing your address details using recognized methods like CKYC, OKYC, or DigiLocker.
  • Share your bank account details for verification.
  • After successful bank account verification, you'll move to the 'Additional Details' section where you can input information like marital status, loan purpose, father’s name, mother’s maiden name, and references.
  • Select your preferred payment mode (debit card or internet banking) and finalize the E-nach setup.
  • Thoroughly review the loan agreement, digitally sign it to acknowledge the terms and conditions, and complete the process by validating the 6-digit OTP sent to your registered mobile number.

Embark on your financial journey today by following these simple steps to secure your personal loan with SMFG India Credit.

How to Apply Offline

  • Visit your nearest SMFG India Credit branch.
  • We will discuss your requirements after which you can fill out the offline application form.
  • Submit all the required documents.
  • Once approved, the loan amount will be disbursed to your account within 30 minutes*.
Page also available inहिन्दी - Hindi

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

Many reasons, one solution!

Our personal loans for salaried professionals are made for every occasion, every life goal.

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





What is salaried personal loan?

A salaried personal loan is a specially designed instant personal loan online which can be availed by salaried customers. Thus, if you are currently employed with a public or private organisation, and have a minimum salary of INR 20,000 (or INR 25,000 if you are from Delhi or Mumbai), and have worked for at least 6 months at your current organisation (overall work experience should be at least 1 year), you are eligible for a salaried personal loan. For more details, please visit our Personal Loan Eligibility page.

How is personal loan eligibility calculated based on salary?

Personal loan eligibility is calculated basically to estimate whether or not you will be able to repay the loan's EMIs. For this purpose, your monthly income (after deduction of all taxes) is considered, along with your existing monthly obligations (including credit card debt). The calculation also takes into account the personal loan rate of interest applicable to you, as well as the loan tenure. Click here to try the free online SMFG India Credit personal loan eligibility calculator now!

Am I eligible for a Personal Loan for salaried employee?

To be eligible for a salaried personal loan, you will need to be employed with a public or private organisation at the time of loan application. Your salary should be at least INR 20,000 (or INR 25,000 if you are from Delhi or Mumbai), and you must have worked for at least 1 year at your current organisation. To know more, please check our Personal Loan Eligibility criteria page, or contact us

How much Personal Loan can I get on my salary?

Personal loan amount depends on many factors, such as your monthly income, your existing monthly obligations (including credit card debt), and the company's policy at the time of loan application. To know the personal loan amount you are eligible for, please feel free to use our personal loan eligibility calculator. It's free, and easy to use.

What is the tenure of a Personal Loan for salaried?

You can take a SMFG India Credit Personal Loan for salaried and choose a flexible repayment tenure between 12 - 60 months, as per your convenience.

How soon can I get a Personal Loan for salaried employee?

You can get the personal loan amount disbursed to your bank account within 30 minutes* after loan approval

What are the various charges that I can expect to pay when I borrow a personal loan?

A personal loan will have the following charges associated:
1. Interest - this amount is the interest you will pay over and above the principal amount that you have borrowed
2. Processing fees
3. Insurance (in some cases only - please contact us today and speak with a customer service representative to know more)
4. Foreclosure charges (this will be applicable in case you choose to repay the loan amount before the loan tenure)
5. Late fees - this is applicable in case of any late / missed EMI payments.

To know more, please visit our "Personal Loan Interest Rates" page and view the table "Fees and Charges".

What will happen if I do not repay my EMIs as per schedule?

Non-payment or delayed payment of EMIs could lead to a fine of upto INR 0.5 - 0.75% of the loan amount. For more information, please contact us today - our team will be happy to guide you.

How do I apply for a salaried personal loan?

To apply for a salaried personal loan online, please click on the "Apply now" button. To make the process faster, we suggest to be prepared with necessary documents, since you will be asked to enter your information and upload documents (KYC, bank statements, salary slips, etc.). Alternately, you are also welcome to visit us at your nearest SMFG India Credit branch or speak with a customer service representative.

What is the online approval process for a salaried personal loan?

For a salaried personal loan online, the following are the steps involved.
1. Apply online
2. You will be given a form. In this, you will be asked to enter certain information pertaining to your personal information (including address), your place of employment, no. of years of servcie, age, PAN number, etc.
3. You will also be asked to upload supporting documents.
4. After your application is complete, various parameters will be checked with the organisation's policies at the time of loan application.
5. After this is done, you will be informed whether or not you are eligible for a SMFG India Credit personal loan.
6. Post this process, your documents will be checked for authenticity.

If all checks are completed successfully, your loan will get approved. At any point, if you face any difficulty, you can call us and get assistance from a representative of SMFG India Credit.

How much would I need to repay each month?

At the time of booking of your loan, the EMI (Equated Monthly Installments) will be calculated based on the loan amount sanctioned, interest rate and the tenure. To know more, access our free online personal loan EMI calculator today.

Can I foreclose or prepay my loan?

Yes, you can repay your loan at any time during the loan tenure.

Is there any advantage that I can get if I have already availed a SMFG India Credit loan earlier?

Yes, if you are an existing customer of SMFG India Credit, you will get additional benefits on the processing time as well as the interest rate. What's more, you will be eligible for a pre-qualified Top Up on your existing Principal Outstanding.

Why shouldn't I avail my sudden need for cash through a 'cash advance' on my credit card?

Your credit card can be an option, but withdrawing cash using a credit card can turn out to be very costly if you do not repay it quickly. Interest rates on credit card cash withdrawals can go as high as 40 per cent on an annual basis depending on the type of card you use and you also do not get the interest free period to pay back. In short, interest is charged from the moment you withdraw the cash. There is also an additional transaction charge that is levied on the withdrawal at the ATM. In comparison, a Personal Loan is cheaper and the repayment can be spread over a long period.

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