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

A little more money can be a lot more helpful to realize your dreams with a smile. With ample funds, you can be sure to make the most of a well-deserved luxury holiday, fund your child’s education or fulfill a temporary but pressing financial need.

No matter what you need today, a personal loan makes your life easier. A multi-purpose loan has various functions and zero restrictions on how you use your personal loan amount. You can use the funds for personal reasons such as funding a family vacation or a wedding. With a self-employed personal loan, you can also meet immediate requirements for your business such as overheads or unexpected repairs, etc.

Explore and find the perfect personal loan for your needs today. Rest assured, you will get competitive personal loan interest rates and value for money service. We ensure that you have a stress-free experience at every step from application to the disbursal process.


  • Loan amount up to ₹10 lakhs*
  • Competitive interest rates
  • Flexible repayment tenure up to 60 months*
  • Hassle-free documentation process
  • Quick loan disbursal
  • Special benefits for existing SMFG India Credit customers
  • Instant personal loans online

Eligibility Criteria for Instant Personal Loan for Self-Employed

SMFG India Credit determines personal loan eligibility based on factors such as age, income, or any existing EMI obligations. The basic eligibility criteria are as follows:

  • You must be a residing citizen of India.
  • You must be at least 25 years old at the time of loan application and your age must not exceed 65 at the time of loan maturity.
  • Your credit score must be 750 or higher.
  • Your business must have been in existence for a minimum of 3 years.
  • The minimum income will be based on the minimum annual turnover and yearly profit after taxes. The value varies according to the nature of the profession or the domain of work.

You can check our online personal loan eligibility calculator to estimate the maximum loan amount you may be able to apply for. Make sure that the calculator is set to ‘Self-Employed’ before you generate an estimate.

Given above are basic eligibility criteria. The actual eligibility will depend upon various parameters including SMFG India Credit’s policy at the time of loan application.

Documents Required for Instant Personal Loan for Self-Employed

SMFG India Credit requires minimal documentation so that the personal loan approval process is as quick and stress-free as possible. Among other requirements, we need KYC proof, business details, and income proof. Keep the following documents ready before applying for the loan:

  • PAN card
  • Identity proof (Aadhar card, Driving license, Passport, Voter ID, etc.)
  • Signature proof (Passport, PAN card, etc.)
  • Address proof (Passport, Aadhar card, driving license, Utility bill like gas or electricity bill, Voter ID, Ration card, Rent agreement, etc.)
  • Bank statements for the past 6 months

Business-related Documents Include:

  • Balance sheet and profit and loss account, income computation for the last 2 years
  • Income Tax Returns for the last 2 years
  • Business proof (License, Registration proof, GST number)
  • IT Assessment or Clearance Certificate
  • Income Tax Challans for TDS Certificate (Form 16A) or Form 26 AS for income declared in ITR

Keeping error-free documents ready will help you save time and effort. Please note that additional documents may be requested based on your profile and SMFG India Credit’s policy at the time of loan application.

Fees and Charges for Personal Loans for Self-Employed

Eligible self-employed individuals can get attractive interest rates that begin at 11.99%* per annum. We offer loan amounts of up to INR 10 lakhs* with a repayment tenure of up to 60 months*.

Personal Loan Interest Rate

Starting at 11.99% per annum

Loan Amount

Up to INR 10 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

Features and Benefits of Personal Loan for Self Employed

SMFG India Credit offers customized financial solutions for your business aspirations. Take a look at the features that makes us the ideal partner for accessing the funds you need:

  • Get loan amounts of up to INR 10 lakhs* without the need for collateral.
  • Attractive interest rates starting at only 11.99% per annum*.
  • 100% paperless application process so that you can apply for a personal loan anytime, anywhere.
  • Minimal documentation with no heavy paperwork involved.
  • Quick disbursal of the loan amount to your account, within 30 minutes* of loan approval.

How to Apply for Personal Loan for Self Employed

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

How to Apply Online

  • Visit our online application portal. Select your employment type as ‘Self-Employed’.
  • Start the process by entering essential details such as your mobile number, PAN, pincode, and employment type (salaried or self-employed).
  • Verify your mobile number by entering the 6-digit OTP sent to your device. Additionally, ensure to verify your email ID.
  • Proceed to provide additional information like your email address, date of birth, gender, annual household income, and work experience.
  • Review the personalized loan offer that matches your needs, including the desired loan amount, repayment terms, and fees. Once satisfied, confirm your acceptance. You can also opt for a higher loan amount.
  • If employed, furnish relevant employment details.
  • Complete the identity verification process by taking a selfie and sharing your address details through established methods such as CKYC, OKYC, or DigiLocker.
  • Share your bank account details for verification purposes.
  • Once your bank account is successfully verified, you will proceed to the 'Additional Details' stage, where you can provide information like marital status, loan purpose, father’s name, mother’s maiden name, and references.
  • Choose your preferred payment mode between a debit card or internet banking and complete the E-nach setup.
  • Thoroughly review the loan agreement, digitally sign it to acknowledge the terms and conditions, and finalize the process by validating the 6-digit OTP sent to your registered mobile number.

Take the first step towards achieving your financial goals 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*.

Factors Affecting Self-Employed Personal Loan Rates

Personal loan interest rates for self-employed individuals are affected by several factors such as age, credit score, occupation, and existing relationship with the lender. Here are the ideal criteria for getting lower interest rates:

  • Age: The individual must be above 25 years of age at the time of application and should not be close to 65 at the time of loan maturity.
  • Credit Score: The individual must have a credit score of 750 or above.
  • Business: The individual should not be engaged in business that might be viewed as riskier by the lender.
  • Low Debt-to-Income (DTI) ratio - A low DTI ratio, preferably of 30% or less, is more favoured by lenders.
  • Relationship with lender: If you have an existing relationship with a lending institution, you may get preferential rates, provided you meet other eligibility criteria.
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.

12 Months60 Months

Your Calculated EMI*


Many reasons, one solution!

Our self employed personal loan solutions 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 self-employed personal loan?

A self employed personal loan is a specially designed personal finance product exclusively for self employed customers. You could be a professional (such as a doctor, a chartered accountant or a consultant) with your own registered practice, or could operate as an independent contractor.

Can I get a personal loan if I'm Self Employed?

SMFG India Credit offers unsecured self employed personal loans up to INR 10 lakhs. However, the amount may vary depending on your individual profile and the company's policy at the time of loan application. To know more, apply now or contact us today

Can I get a personal loan without proof of income?

To get a personal loan, proof of income documents such as audited financial statements, income tax returns, form 16, etc are necessary, as well as your bank statements. However, to get a personal loan without proof of income, you can choose to apply with a family member who has income proof. However, please note that in such cases, the loan will be in the name of the person who has income proofs, and the same person will be help responsible for making the repayment.

How do I apply for a Personal Loan for self-employed?

If you are self employed, you can apply for an instant personal loan online with SMFG India Credit by clicking Apply Now. Alternately, you can also speak with a customer care representative, download our mobile app, or visit your nearest SMFG India Credit branch.

What is the eligibility for a Personal Loan for self-employed?

Personal loan eligibility for self employed customers will depend on factors such as
1. Yearly profit after taxes
2. Existing monthly obligation (including credit card debt),
3. Your financial position (based on bank statements)
4. Creditworthiness (determined by CIBIL score)
5. Location
6. Age
7. SMFG India Credit's policy at the time of loan application.

To know more, please contact us for a telephonic conversation with a SMFG India Credit representative, or visit your nearest SMFG India Credit branch.

What is the tenure of a Personal Loan for self-employed?

For self employed customers, the minimum tenure of a personal loan is 12 months, and the maximum tenure is 60 months. You can enjoy the benefits of our flexible repayment scheme to choose a loan tenure between 12 & 60 months that suits your requirements

What is the online approval process for a self-employed personal loan?

"For a self employed personal loan online -
1. Apply Online
2. You will be asked to enter certain information pertaining to your personal information (including address), the nature of your business, income statements of the past 2 years, total no. of years in operation, 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. You will then be informed whether or not you are eligible for a SMFG India Credit personal loan.

If you are eligible, 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."

What is the maximum loan amount you can get when you apply for a self-employed personal loan?

Self employed customers can get unsecured personal loans from SMFG India Credit of upto INR 10 lakhs. However, the amount may go up to even INR 30 lakhs if you are a self employed professional and match certain criteria.

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