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

Amritsar is the largest and one of the most important cities in Punjab and has emerged as one of the major centres for trade, tourism, and transportation in northern India. With its strong economic influence around the region, Amritsar is one of the fastest-growing cities in India and offers huge opportunities for business and professional growth. 

To reinforce this,  personal finance is also easily available in the city. SMFG India Credit provides an instant personal loan in Amritsar online with minimal documentation. 

Personal Loan in Amritsar: Features and Benefits

  • Loans up to Rs 30 lakh: You can get a personal loan of up to Rs 30 lakh with flexible repayment tenure of 12 to 60 months at ease
  • Attractive interest rates: The personal loan rates start from 13% per annum for salaried and self-employed
  • 100% online process and paperless: The personal loan application process is completely paperless if you apply online
  • Quick disbursal: Upon successful verification and approval of the personal loan application, the loan amount is credited to your bank account within 30 minutes*
  • Additional benefits to existing customers: Benefits like top-up loans, lower interest rates, flexible repayment tenures, and more are offered to existing customers

Eligibility for Personal Loan in Amritsar

SMFG India Credit has easy eligibility criteria for a personal loan and it helps a wide range of users to apply for personal loan online.

  • Applicants age should be between 21 to 60 years
  • Should be employed in a private ltd company or public sector undertaking
  • Minimum monthly income should be Rs 20,000 
  • Minimum one year of work experience required
  • Minimum six months of work experience required in current company
  • Minimum CIBIL score of 750

Self-employed professionals under minimum income eligibility have to show a minimum of one year of profit after tax.

To know your eligibility for a personal loan, you can use the online personal loan eligibility calculator on the website that gives you an instant estimate for your personal loan amount.

Documentation for Personal Loan in Amritsar

The personal loan documentation process includes:

  • KYC documents like AADHAR, PAN Card, etc.
  • Last three months salary slips for salaried or valid  income proof for self-employed
  • Last six-months bank account statement of your salary account or current account for self-employed

Additional Documents Required for Self-Employed Professional

  • Proof of business registration/incorporation
  • Audited financial statement
  • Income tax returns
  • VAT returns and GST registration

Personal Loan EMI Calculator

The online personal loan EMI calculator on the website helps you determine the right EMI amount and loan tenure based on your repayment capability and personal loan interest rates. 

Using the calculator, you can check the EMI amount for different repayment tenure and select the most suitable tenure so that the monthly EMI can comfortably fit within your budget.

How to Apply Personal Loan Online?

SMFG India Credit has a very easy online personal loan application process and can be completed without any assistance. The following are the steps involved:

  • Open smfgindiacredit.com and click on “Apply Now”
  • Select “Personal Loan” 
  • Select applicant category (salaried or self-employed) and enter your mobile number to register

Now, the instruction driven interface will help you to complete the personal loan application and upload digital copies of the requested documents.

Once submitted, the personal loan application will be scrutinised and approved as per the policies of the company. You can use the “Track your Personal Loan Application” feature on the website to know the status of your personal loan application.

Alternatively, you can also apply for a personal loan offline by visiting the SMFG India Credit branch office in Amritsar, where you will be guided through the process by our team.

*Loans are disbursed at the sole discretion of SMFG India Credit. Please note that final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application

Apply for Personal Loan

* 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.

FAQs

How to get a personal loan with a low CIBIL score in Amritsar?

Securing a personal loan with a low CIBIL score in Amritsar may be challenging, but it’s still possible. Look for lenders who offer flexible eligibility terms, although these loans often come with higher interest rates and stricter repayment conditions. To improve your chances, consider adding a co-applicant with a stable income and good credit. Additionally, working on improving your CIBIL score to 750 or higher will help increase your odds of approval.

Can a person get a personal loan for a low salary in Amritsar?

Yes, obtaining a personal loan with a low salary is possible in Amritsar, provided you meet other essential criteria such as having a good credit score and stable employment. To increase approval chances, you can opt for a smaller loan amount or add a co-applicant with a higher and more stable income. For an SMFG India Credit personal loan, Amritsar residents need a minimum monthly income of INR 20,000.

How long does it take to get a personal loan in Amritsar?

The online application process with SMFG India Credit ensures quick processing and approvals. However, the processing time is subject to applicant eligibility and the accuracy of the submitted documents.

What is the minimum income requirement to get a personal loan in Amritsar?

To apply for a personal loan with SMFG India Credit in Amritsar, the minimum monthly income requirement is INR 20,000.

How to get a lower interest rate on my personal loan in Amritsar?

To secure a lower interest rate on a personal loan in Amritsar, maintain a credit score of 750 or above, reduce existing debts, and demonstrate stable income and employment. Opting for shorter tenures and leveraging an existing positive relationship with the lender may also help you get better rates.

What are the advantages of applying for an online personal loan in Amritsar?

Applying for an online personal loan in Amritsar provides convenience and speed. You can compare offers, apply from the comfort of your home, and upload documents digitally. Faster processing and minimal paperwork make it an efficient and hassle-free experience.

How is my personal loan in Amritsar eligibility calculated?

In Amritsar, personal loan eligibility is calculated based on factors such as age, monthly income, employment stability, credit score, and existing financial obligations. Use SMFG India Credit’s online personal loan eligibility calculator to quickly assess your borrowing capacity.

Read MoreRead Less

Contact Us

Address:

First Floor, Eminent Mall, 10 – The Mall, Amritsar, Punjab - 143001

Note: Call on (Toll free number) 1800 103 6001 for more information.Timings: 9:30 AM to 6:30 PM (except 1st Saturday and Sundays and public holidays).

Knowledge Center

View All
Highest CIBIL Score in India?

Highest CIBIL Score in India?

Your CIBIL score is a reflection of your creditworthiness. A high score indicates that you are a…

More...

Get a Personal Loan for Travel to Fund Your Dream Honeymoon

Get a Personal Loan for Travel to Fund Your Dream Honeymoon

A honeymoon is a once-in-a-lifetime opportunity to unwind, celebrate love, and create memories…

More...

How to Decorate Your Home for the Festive Season

How to Decorate Your Home for the Festive Season

Festive home decoration is all about embracing the event's spirit through thoughtful,…

More...

How to Use Personal Loans to Kickstart the New Year

How to Use Personal Loans to Kickstart the New Year

A new year brings a sense of renewal, motivation, and fresh opportunities. As people reflect on…

More...