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

SMFG India Credit offers personal loans for marriage to any resident citizen of India aged between 21 and 65 years. Regardless of being a salaried employee or self-employed, you can avail loans up to ₹25 lakhs*, depending on your previous credit history. The minimum monthly income required for salaried individuals residing in non-metro areas is ₹20,000, while for residents of Mumbai and Delhi, it is ₹25,000. Self-employed individuals need to meet a minimum annual profit after tax requirement. To learn more about personal loan eligibility, you can click here.

Features And Benefits

Instant Online Approval

Check your eligibility, fill a form online, upload your documents and get instant approval!

Online Account Access

View your marriage loan account details at any time through our customised portal

Money disbursed in 30 minutes*

Get the requested funds in your bank account within 30 minutes* after your wedding loan is approved.

Best-in-class Interest Rates

Attractive interest rates start as low as 11.99% per annum onwards.*

Loan up to RS. 25 Lakhs

Say ‘I Do’ in style. With our personal loan for weddings, get up to RS. 25 Lakhs* with flexible repayment tenures from 12 – 60 months.

*Terms and Conditions apply

Documents Required for Wedding Loan

To apply for a personal loan, you will be required to provide the following documents:

For salaried individuals:

  • PAN Card
  • Identity proof (Aadhaar Card, Driving license, Passport, Voter ID, etc.)
  • Signature Proof (Passport, PAN card, etc.)
  • Address proof (Passport copy, Aadhaar card, driving licence, utility bill - gas or electricity bill, Voter ID, ration card, rent agreement, etc.)
  • Bank statements of the past 6 months

Additional Documents for Salaried Individuals:

  • Salary slips for the last three months
  • Income tax returns or FORM 16

Additional Documents for Self-employed Individuals:

  • 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 certificate, GST number)
  • IT Assessment OR Clearance Certificate
  • Income Tax Challans OR TDS Certificate (Form 16A) OR Form 26 AS for income declared in ITR

Please note that the specific documents required may vary depending on your individual profile and the policies of SMFG India Credit.

Personal Loan for Wedding Interest Rates

SMFG India Credit provides personal loans for marriage starting at an interest rate of 11.99%* per annum. The interest rate you receive will depend on factors such as your financial profile, including your credit score, employment status, and your existing relationship with SMFG India Credit. The interest rate can also be influenced by the chosen loan tenure and amount. Additionally, there may be a processing fee of up to 3% of the loan amount.

Interest Rates

11.99%* p.a. onwards

Loan Amount

INR 50,000* to INR 25 Lakhs*

Loan Tenure

12 - 60 months

Processing Fees

Up to 6% of the loan amount

Lowest EMI per month

Starting from INR 1,112* for 60 months

Prepayment/Foreclosure Charges

Up to 7% of the loan amount

Marriage Loan Eligibility Criteria

Any resident citizen of India between the ages of 21 years and 65 years, and with a minimum income can avail SMFG India Credit’s personal loan for marriage. You can get loans for up to Rs. 25 lakhs* if you are a salaried employee and Rs. 10 Lakhs* if you are a self-employed person, subject to your previous credit history. The minimum monthly income for a salaried person residing in a non-metro area is set to ₹20,000 to avail this loan and ₹25,000 for residents of Mumbai and Delhi. For self-employed individuals, a minimum annual profit after tax will be considered instead. 

How to Apply for Marriage Loan

Apply for a personal loan from SMFG India Credit with these instructions:

  1. Start your loan application journey by clicking here.
  2. Submit your mobile number, PAN, pincode, and select the applicable option for you from ‘Salaried’ and ‘Self-Employed’.
  3. Authenticate your mobile number with an OTP and also verify your email ID.
  4. Provide additional information such as your email address, date of birth, gender, along with income and employment information.
  5. Evaluate the loan offer tailored to your needs, including details on the amount, fees, and repayment options. Confirm your acceptance once satisfied and check the option for an increased loan amount.
  6. Enter employment data if you are on a salary.
  7. Use well-known processes like CKYC, OKYC, DigiLocker to conduct online verifications for identity and address.
  8. Submit your banking details. After we have verified your information, provide more information in the ‘Additional Details’ section regarding your references, marital status, and other personal details.
  9. Choose your preferred mode of payment and complete setting up eNACH.
  10. Digitally sign the loan agreement once you have reviewed it carefully. The process is complete when you validate with a 6-digit OTP sent to your registered mobile number.

Complete this simple process and take your first steps towards achieving your financial goals.

Why Choose SMFG India Credit for Wedding Loans?

SMFG India Credit offers a convenient and efficient personal loan for marriages. With instant online approval, you can check your eligibility, fill out a form, and upload documents to get quick approval. Access your loan account details anytime through our online portal. Expect the requested funds to be disbursed within 30 minutes* after approval. Enjoy competitive interest rates starting at 11.99%* per annum onwards and borrow up to Rs. 25 lakhs* with flexible repayment tenures from 12 to 60 months. Plan your dream wedding without compromise with SMFG India Credit's wedding loan.

What are the things you should do before taking a Wedding Loan?

Before taking out a wedding loan, it's crucial to:

  • Assess Budget: Determine a realistic budget for the wedding, considering all expenses.
  • Compare Lenders: Explore various lenders for interest rates, processing fees, and terms.
  • Check Eligibility: Ensure you meet the lender's eligibility criteria based on income, credit score, and other factors.
  • Plan Repayment: Evaluate your ability to repay the loan comfortably and choose an appropriate tenure.
  • Understand Charges: Thoroughly review all associated charges like processing fees, late payment, and foreclosure charges.
  • Read Terms: Understand the loan agreement, interest rate type, and any hidden clauses.

How to Calculate EMI on Personal Loan for Marriage?

Online EMI calculators provided by lenders or financial websites simplify this process. Input the loan amount, interest rate, and tenure, and the calculator instantly provides the EMI amount along with a detailed repayment schedule.

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.

`
50,00025,00,000
%
11.99%36%
Months
12 Months60 Months

Your Calculated EMI*

 8,302

FAQs

Is there any loan for a wedding?

SMFG India Credit offers an open-ended personal loan that can be used to meet all your wedding-related expenses.

How do I get financial help for a wedding?

SMFG India Credit's personal loan for a wedding is a very reliable product that can be used to meet any kind of wedding expense. You can get up to ₹ 25 lakhs* depending on your eligibility and repay the amount by choosing a flexible repayment tenure between 12 to 60 months. All you need to do to apply for the personal loan for a wedding is click on the Apply Now button above. You can also visit any of our branches and speak with our executive who can help you with the process in person, and resolve any queries you may have.

Why should I take a Personal Loan for Wedding?

A wedding is a large expense, with no tangible returns. Even if you have sufficient savings, it is not advisable to use it all up in one shot. A personal loan for wedding allows you to distribute the cost over time and ensures that your savings do not dip dangerously low. Also, unlike credit cards, a personal loan gives you more flexibility by depositing cash into your account, which you can utilise for any wedding-related expense. While the interest rates on personal loans may be slightly higher than that of credit cards, it does give you the flexibility to repay the amount within 5 years.

Is there a minimum and maximum loan amount?

Loan amounts up to ₹25 lakh are instantly approved online at SMFG India Credit, based on your profile. For certain profiles - like doctors, the maximum loan amount can go up to ₹30 lakhs. The minimum amount for a salaried personal loan applied online is INR 50,000. Customers applying directly through our branches may get lower amounts, depending on their eligibility, location, and SMFG India Credit’s policy at the time of loan application. If you are looking for a loan amount of more than ₹ 25 lakhs, we recommend a loan against securities or a loan against property.

What are the factors upon which the loan amount depends?

The maximum loan amount that you are eligible for is determined based on the following:

  1. Your credit history
  2. Your repayment capability. Repayment capability is calculated based on your current income minus all your fixed obligations including any other debts you may already have.
  3. Your employment status/details
  4. Your profession
  5. Your net income
  6. Your previous relationship (if any) with SMFG India Credit.

What are the documents required to get a Wedding Loan?

When applying for a personal loan, you need to submit the following documents:

  • PAN Card
  • Identity proof (Aadhaar Card, Driving license, Passport, Voter ID, etc.)
  • Signature Proof (Passport, PAN card, etc.)
  • Address proof (Passport copy, Aadhaar card, driving license, utility bill – gas or electricity bill, Voter ID, ration card, rent agreement, etc.)
  • Bank statements for the past 6 months

What are the processing fees of Wedding Loan?

The cost of a wedding loan is the interest rate plus the processing fee. The interest rate charged varies according to your financial profile, including your CIBIL score, nature of employment, and existing relationship with us. A processing fee of up to 3% of the loan is charged.

What are the eligibility criteria for a personal loan for marriage?

Any resident citizen of India between the ages of 21 years and 60 years, with a minimum income of INR 20,000 in a non-metro area, and INR 25,000 for residents of Mumbai and Delhi can avail of SMFG India Credit’s personal loan for marriage. You can get loans for up to INR 25 lakh*, subject to your previous credit history.

Can a girl take a loan for her marriage?

Yes. Any Indian resident between the ages of 21 and 60, regardless of whether male or female can avail SMFG India Credit’s personal loan for marriage, provided they meet the income and CIBIL score requirements.

What are the steps to calculate the EMIs for my marriage loan in India?

The Personal Loan EMI calculator has 3 tabs to arrive at your EMI instantly.

  • Choose the loan amount you are seeking. You can select an amount up to INR 25 lakhs*.
  • Next, select the tenure. For a personal loan, you can choose a repayment tenure of up to 5 years or 60 months.
  • Finally, set the ‘Rate of Interest’ that you are eligible for.
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