Personal Loan in Chandigarh

Overview

Primarily Chandigarh and by extension Punjab is known as the agricultural capital of the country. However, it is quickly becoming one of the fastest developing smart cities in India and boasts of a burgeoning upper-middle-class population.

Thus, if you are a salaried or a self-employed individual and are looking for a personal loan in Chandigarh, you have come to the right place. SMFG India Credit offers personal loans customised to the needs of every individual.

With a personal loan from SMFG India Credit of up to Rs. 25 lakhs, residents of Chandigarh can now fund weddings, medical bills, home renovations, higher education or even consolidate debt.

Documents & Eligibility for Personal Loan in Chandigarh

Here is a list of the basic eligibility criteria to apply for a personal loan at SMFG India Credit:

• You must be a residing citizen of India at the time of application
• You must be between 21 to 60 years of age
• You must be an employee of either a public sector enterprise or registered private limited company or be self-employed
• To get a Personal loan for salaried, you must have a minimum monthly income of Rs. 20,000
• For self-employed individuals or businesses, the eligibility will depend on the minimum annual profit post-tax and also basis profession and industry

You can also determine your eligibility by using the Personal Loan Eligibility Calculator on the SMFG India Credit website.

If you meet these criteria, the next step involves providing the documents to verify the information that you initially submitted. Here is a list for your reference.

• The loan application form duly filled and signed
• Proof of identity with the help of government-approved IDs such as a Voter ID, Passport, Aadhar Card, PAN Card, etc.
• Proof of address via any one of the documents like your Passport, Aadhar Card, Voter ID, Bank Passbook or Statement, Rent Agreement, Utility Bill, etc.
• Proof of age can be verified through your Passport, Voter ID, Aadhar Card, School or College Admit Card, etc.
• Salary slips for the last three months (if you are a salaried individual) or audited financial and income statements (if you are self-employed).
• Bank statements for the last six months
• Form 16 or Income Tax Returns

Minimum Salary

The minimum salary requirement is Rs, 20,000 per month to get a personal loan for salaried individuals in all locations of India where we are present except for Mumbai and Delhi (for residents of Mumbai & Delhi, minimum salary should be Rs. 25,000).

Interest Rates

Personal loan interest rates at SMFG India Credit starts at 13%* applicable for both salaried and self-employed professionals. However, the interest rate can vary for up to 33%. It largely depends on the amount of loan requested, the tenure selected your profile and credit history, and your current financial status.

There is also a processing fee component which can be up to 5% of the total loan amount + GST. Typically, SMFG India Credit offers loans with a repayment period of anywhere between 12 and 60 months. If you intend to foreclose the loan, a prepayment charge may be applicable ranging between 0% to 7%. Please visit our personal loan interest rates page to know more.

How to Apply for Personal Loan in Chandigarh?

There are two ways of loan application at SMFG India Credit – online or submitting a hardcopy application at your nearest SMFG India Credit office.

Follow these steps to make your application online:

• Visit the SMFG India Credit homepage, look up the page on “Personal Loans’ and click ‘Apply Now’
• Fill in the application and upload soft copies of the documents required

A customer service representative will get in touch with you on receipt of the application and your documents.

If you choose a personal touch, you can submit the application form along with copies of your documents at a branch office. Our team will be happy to guide you with any query or issue.

Alternatively, you can always reach out to the customer support team on our toll-free number 1800 103 6001 (from 10:00 AM to 7:00 PM on all days except Sundays and public holidays) or email us at