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Personal Loan In Bhilai
If you know ‘Mini India,’ then you know Bhilai. This city is diverse in terms of its population and the plethora of industries in the region. The Bhilai Steel Plant was established in the 1950s with Soviet assistance. This steel plant is the sole producer of rails used by the Indian Railways. Bhilai has evolved into an educational and healthcare hub, boasting institutions and medical facilities.
In this dynamic landscape, personal loans emerge as a crucial financial tool, offering a pathway for individuals in Bhilai to realize their dreams and aspirations. Whether it's for education, healthcare, or any other personal endeavor, the availability of reliable and accessible personal loans plays a pivotal role in shaping the financial narratives of Bhilai's residents. Let’s explore the features, eligibility, documentation, and application process, empowering individuals to navigate their financial journey with confidence.
Features And Benefits Of Personal Loan In Bhilai
Hassle-free Application Process
Apply for a personal loan from anywhere in the world. SMFG India Credit offers a seamless online loan application process, thereby saving your precious time.
Quick Document Verification
Once you share the documents, we ensure the verification begins soon after receiving the application form.
Confidentiality and Privacy
Information today is more valuable than money. We take the trust you've placed in us seriously and preserve the confidentiality of your data.
Attractive Rates of Interest
Our personal loans start as low as 13%* per annum, allowing you to plan your EMIs stress-free.
Speedy Loan Payout
With our prompt review and verification system, we ensure you wouldn’t have to wait more than 30 minutes* to avail your personal loan amount.
Flexible Repayment Schedule
Be it 2 months or 60 months, feel free to tailor your repayment schedule and make it easy on your finances.
Eligibility Criteria For Instant Personal Loan In Bhilai
- Age Bracket: Your age should be in the range of 21-60 years (for salaried) or 22-60 years (for self-employed).
- Nationality: Indian citizenship is essential.
- Employment Status: One year of work experience, with a minimum of six months at their current job (for salaried), and three years of operational experience (for self-employed).
- Minimum Monthly Pay: A basic monthly salary of INR 20,000 is recommended for salaried employees. The minimum qualifying income is determined based on the annual sales and after-tax profits of self-employed individuals.
Documents Required To Apply For A Personal Loan In Bhilai
The list of essential paperwork you must keep handy before applying for a personal loan
|
Document Type |
Salaried Individuals |
Self-Employed Individuals |
|
Identity Proof |
PAN Card, Aadhaar Card, Driver’s License, Passport, or Voter ID |
PAN Card, Aadhaar Card, Driver’s License, Passport, or Voter ID |
|
Compulsory Documents |
Coloured passport-size photograph; duly filled loan application form |
Coloured passport-size picture; duly filled loan application form |
|
Income Proof |
Salary slips for the last three months; form 16 or IT returns |
IT returns for the previous two years; IT challans, TDS certificates, or Form 26AS |
|
Proof of Ongoing Employment |
Joining letter/Appointment letter from present employer |
Utility Bills; Rent Agreement |
|
Residence/Business Proof |
Utility bills,Passport,Driver’s License,Voter ID,Rent Agreement,Ration Card, etc. |
License, GST number or registration certificate |
Interest Rates On Personal Loans In Bhilai
SMFG India Credit Personal Interest Rates:
|
Personal Loan Interest Rate |
Starting at 13%* per annum |
|
Processing Fee |
Up to 5% of the total loan amount + GST |
|
Available Loan Amount |
Up to INR 30 lakhs* (for salaried) and up to INR 10 lakhs* (for self-employed) |
|
Tenure of Loan |
Up to 5 years |
|
Minimum EMI Per Month |
INR 1,112 for 5 years or 60 months |
|
Late Payment Charges |
Up to 3% per month (36% per annum) on overdue amount calculated on day to day basis payable from the relevant due date till date of actual payment. |
|
Prepayment Expenses |
0-7% |
|
Loan Cancellation Charges |
Rs. 1000 - 2500 |
|
Cheque/ECS/NACH Dishonoured Charges |
Rs. 300 to 1000 |
How To Apply For A Personal Loan In Bhilai?
Apply for your SMFG India Credit personal loan with these steps:
- Enter Your Essential Information
Submit your details, including your mobile number, PAN, pincode, and employment type (salaried or self-employed).
- Enter the OTP to Verify Your Mobile Number
Authenticate your mobile with a 6-digit OTP.
- Fill in More Personal Details
Provide details such as your email address, date of birth, gender, and annual household income. Ensure that you verify your email ID.
- Provide Employment Details
Salaried employees must provide their job details.
- Submit Bank Statement
Please provide your bank statement using Net Banking, an Account Aggregator, or by uploading the document. This will allow us to generate a loan offer (applies only to salaried applicants).
- Undertake Identity Verification
Proceed with the digital verifications for identity and address through CKYC, Offline Aadhaar XML-based KYC, and DigiLocker. You must take a selfie as a part of the identity verification process.
- Enter Your Bank Account Information
Enter your bank account details, which we will verify.
- Complete the ‘Additional Details’ Section
Post bank account verification, you will be required to add some more information (such as loan purpose and marital status) in the section for ‘Additional Details’.
- Finalise the E-NACH Setup
Decide on the re-payment option, choosing from a debit card or internet banking, and set up E-NACH.
- Sign the Loan Agreement Digitally
Carefully review the loan agreement. To acknowledge the terms and conditions, sign the agreement digitally and confirm it with an OTP.
Progress towards your financial goals by completing the easy personal loan application steps from SMFG India Credit.
* 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.
Contact Us
Address:
Ground Floor, GE Road, Opp to Nagar Nigam Vyavsayik Parisar, Block No.8A, Plot No.2, Vasundhara Nagar, Bhillai-3, Tahsil Patan Dist:-Durg, Chhatisgarh - 490021
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).
FAQs
How is my personal loan in Bhilai eligibility calculated?
To start with, an online loan eligibility calculator can help you determine your suitability for a personal loan. Your location, income, outstanding debts, previous credit behavior, and credit score are the factors lenders use to determine your creditworthiness.
What are the advantages of applying for an online personal loan in Bhilai?
Applying online for a personal loan in Bhilai offers you several benefits, such as:
- Conveniencez
- Loan amount as high as INR 30 lakhs*
- Saving your precious time
- 24/7 accessibility
- Paperless application process
- Prompt approvals
- Flexibility in repayment tenure.
- Transparency
- Confidentiality
- Secure transactions
- Efficient customer support
How to get a lower interest rate on my personal loan in Bhilai?
Consider the following techniques for obtaining a reduced loan interest rate: maintain a good CIBIL score (at least 750), choose trustworthy lenders, decrease your debt-to-income ratio, enlist a co-signer or guarantor for added credibility, and ensure timely payment of all debts to avoid late accounts.
If I change my employer, will it affect my personal loan or EMI?
On the contrary, earning more than your previous job will positively impact you. However, lending institutions suggest readjusting your loan terms and interest rates to help you stay on track. It's important to keep your lender informed about any new developments to avoid future issues.
This facility is currently unavailable. We regret the inconvenience caused. In case of any queries, please call us on 18001036001 or write to us at [email protected]