Located in the northern region of Rajasthan, Bikaner is home to ancient palaces and forts. The city has a booming tourism industry and is aptly named ‘Camel Country’ owing to one of the largest camel research farms in the world.
You can get a personal loan in Bikaner from SMFG India Credit, which can be used for multiple purposes including travel, weddings, or medical emergencies. We offer personal loans with many benefits such as easy online application, quick disbursal times, minimum documentation requirements, and more. Let us take a look at the benefits, eligibility criteria, and the required documents in more detail.
No collateral required: Being unsecured loans, you do not have to pledge any collateral to get a personal loan in Bikaner.
Attractive interest rates: Eligible applicants can enjoy interest rates as low as 12.5% per annum* at SMFG India Credit.
Minimal documentation: SMFG India Credit requires only essential documents so that you can get the necessary funds without heavy paperwork.
Quick disbursal times: Swift disbursement after loan approval provides fast fund availability.
Flexible repayment schedule: SMFG India Credit offers flexible repayment tenures of up to 5 years or 60 months. You can choose an EMI amount and tenure that fits your budget.
Nationality: You must be a residing citizen of India.
Age: For salaried applicants, the age limit is between 24 and 60 years. Please note that you must not be more than 60 at the time of loan maturity. For self-employed applicants, the age limit starts at 25 years.
Credit score: Along with a good cibil score, you must have a minimum credit or CIBIL score of 700.
Work experience: Salaried employees must have at least 6 months of work experience. Self-employed applicants must have a business that has been operating for a minimum of 3 years.
Minimum income: If you are a salaried employee you must have a minimum income of Rs. 25,001* per month. If you are self-employed, the eligibility income depends on the yearly profit after taxes and minimum annual turnover. This value, in turn, depends upon the nature of the industry or the profession.
**Given above are basic eligibility criteria. The final eligibility will be determined by several parameters including the SMFG India Credit’s policy at the time of loan application.
The documents required to apply for a personal loan in Bikaner include proof of income, employment, and residence among others. Please note that the documents vary slightly for salaried and self-employed applicants.
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Document Type |
Salaried Individuals |
Self-Employed Individuals |
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Identity Proof |
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Mandatory Documents |
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Income Proof |
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Residence Proof |
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**Please note that this list is only indicative. Additional documents may be requested depending on your profile and SMFG India Credit’s policy at the time of loan application.
Here are the personal loan interest rates and charges for SMFG India Credit:
|
Personal Loan Interest Rate |
12.5% to 30% per annum |
|
Processing Fee |
Up to 4% of the total loan amount + GST |
|
Available Loan Amount |
Up to INR 10 Lakhs* (for salaried) and up to INR 10 Lakhs* (for self-employed). |
|
Tenure of Loan |
Up to 5 years or 60 months |
|
Lowest EMI Per Month |
Starting from INR 2,250 * for 60 months |
|
Late Payment Charges (Applicable for Payment Default) |
2% per month (24% per annum) on overdue amount calculated on day to day basis payable from the relevant due date till date of actual payment |
|
Prepayment Expenses |
2% to 7% of the principal outstanding |
|
Loan Cancellation Charges (Loan Cancelled Before First EMI) |
INR 1,000 + GST |
|
Repayment Instrument dishonor Charges per presentation |
INR 500 |
To apply for a personal loan in Bikaner, follow these steps:
These simple-to-follow instructions from SMFG India Credit will take you one step closer to achieving your goals with a personal loan in Bikaner.
* 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.
Several factors such as age, credit score, income, type of employment, debt-to-income ratio are used to determine personal loan eligibility.
Some of the main advantages of applying for a personal loan in Bikaner are:
Here are some ways to ensure you can get a lower interest rate:
Changing your employer will not have any significant effect on your personal loan or EMI provided that the new income is not lower than your current income. If the income is lower, the lender may require you to lower the monthly amount or extend the loan tenure. It is best to inform the lender of employment changes promptly to keep them updated.
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Insurance disclaimer SMICC is registered with the Insurance Regulatory and Development Authority of India (IRDAI) as a Corporate Agent. IRDAI Registration No.: [CA0098] CIN No. U65191TN1994PLC079235. The insurance policy is a contract between the customer and the insurance company, and policy is underwritten by insurance companies. SMICC acts only as the distributor and is not responsible for any risk, policy issuance, claim settlement/repudiation etc. Insurance is the subject matter of solicitation. Purchase of insurance is voluntary and subject to insurer underwriting and policy terms and conditions. Customers are advised to read the policy terms and conditions, benefits, exclusions, claim settlement carefully before purchase. Kindly note that “Insurance Products” are not mandatory for the purpose of the application and disbursement of loan. It shall be the sole discretion of the customer, by providing explicit consent, to avail such insurance along with the Loan.
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