Personal Loan in Delhi

Apart from being the political epicentre, Delhi is a major economic hub with plenty of livelihood opportunities for everyone, be it a salaried individual, or a self-employed individual.

However, the cash crunch can affect people at times. And to overcome these monetary hurdles, you can choose to personal loan in Delhi through SMFG India Credit. We provide financing for up to INR 10 Lakhs* on flexible tenure between 12 months and 60 months. You are not required to put up collateral to avail of this loan.

Documents Required for a Personal Loan in Delhi NCR

Below are the documents required for a personal loan in Delhi:

• To apply for a personal loan in Delhi NCR you need to submit documents such as your PAN card copy, government-recognized address proof, identity proof, and bank statements.
• Recent passport-sized photographs with a duly filled and signed loan application form will also be required to complete the application.
• Apart from these, you may need to submit Form 16 or proof of Income tax returns - this is especially important if you are a self-employed individual.
• If you are salaried, No salary slip required, bank statements submitted should display salary being credited if you are a self-employed individual, audited copies of your business’s financial statements will also be required

NOTE: There could be other documents required depending on your personal/professional profile. So, get in touch with our team to understand the additional documents you have to submit.

Eligibility Criteria for a Personal Loan in Delhi NCR

Here are some of the personal loan eligibility criteria for your reference:

• You must be a residing citizen of India.
• Your age must be between 24 years (25 for self-employed) and 60 years.
• You can be a self-employed individual or an employee of a public sector undertaking (local body, state, or central) or a private limited company.
• As a salaried person, your minimum work experience should be at least 6 months.
• If you are a self-employed individual, we will consider the yearly profit after tax, annual turnover, and other factors to determine your personal loan eligibility.

Minimum Salary Required to Get a Personal Loan in Delhi NCR

If you are a resident of Delhi, then your monthly salary should be at least INR 25,001* to apply for the loan. 

Interest Rates and Charges for a Loan in Delhi NCR

We at SMFG India Credit offer an affordable personal loan in Delhi beginning at 12.5%* per annum. We analyse your financial profile, repayment capacity, and credit score to finalize the loan amount, rate, and tenure. Other factors that we consider to determine the loan deal are your age, residential location, monthly income, and existing monthly financial liabilities including credit card debts.

• The loan processing fee is Up to 4% of the total loan amount + GST
• We also have the facility for foreclosure, but a charge applies depending on the tenure you choose to foreclose the loan
• You can foreclose the loan after paying the first 6 EMIs

Uses of a Personal Loan in Delhi NCR

A personal loan in Delhi NCR can be used in a variety of ways to manage planned or unexpected expenses:

• Medical Emergencies: Receive prompt financial support to cover medical expenditures like unexpected accidents or surgeries.

• Shopping: Whether you're upgrading to the latest kitchen appliance, smartphone, or other big-ticket items, a personal loan can help you cover the cost without affecting your savings.

• Debt Consolidation: Use a single personal loan to pay off multiple outstanding debts such as credit cards or smaller loans. It’s an effective way to simplify your finances and regain control through a single EMI.

• Higher Education: Personal loans can be used to finance tuition fees, course materials, or exam-related expenses, helping working professionals or help parents to fund their child’s academic goals and career advancement.

• Weddings: From engagement ceremonies and wedding functions to honeymoon expenses, a personal loan offers financial flexibility to plan and celebrate without compromise.

Features and Benefits of a Personal Loan in Delhi NCR

Looking for a seamless borrowing experience? Consider SMFG India Credit and enjoy a host of features and benefits with our personal loans in Delhi NCR:

Online Loan Application

Apply for a loan conveniently through our 100% paperless online application process. The straightforward procedure requires minimal documentation, saving you both time and effort.

Attractive Interest Rates

Enjoy competitive personal loan interest rates starting at just 12.5% * per annum, subject to eligibility.

Substantial Loan Amounts

Access loan amounts as high as INR  10 Lakhs* to fulfil a variety of personal or business financial needs.

Quick Disbursal

Get the approved funds in your account shortly after final approval and address your financial needs without delays.

How to Apply for a Personal Loan in Delhi NCR?

To secure a personal loan in Delhi from SMFG India Credit, follow these guidelines:

1. Fill in the Required Details
   Enter your mobile number, PAN, pincode, and employment type (salaried or self-employed).
2. Verify Mobile Number

Verify your mobile number by entering the 6-digit OTP sent to your device.

3. Provide Additional Personal Details

Proceed to provide additional information like your email address, date of birth, gender, and annual household income. Additionally, ensure to verify your email ID.

4. Employment Details Submission

Provide employment information as required if you are a salaried individual.

5. Provide a Bank Statement (For Salaried Individuals Only)

To proceed, please share your bank statement using one of the following options: Net Banking, Account Aggregator, or by uploading the statement. This will allow us to generate a loan offer.

6. Identity Verification

Proceed with the identity verification process and share address details through CKYC, Offline Aadhaar XML-based KYC, or DigiLocker. Taking a selfie is essential to complete identity verification.

7. Provide Bank Account Information

Submit your bank account details for our verification process.

8. Complete the ‘Additional Details’ Section

Fill in details such as your marital status, parents’ names, and the loan’s intended purpose in the ‘Additional Details’ section.

9. Re-payment Mode and E-NACH Setup

Set up E-NACH once you have chosen your preferred mode of re-payment from a debit card or internet banking.

10. Review and Sign the Agreement
    Conduct a final review and digitally sign the loan agreement to acknowledge the terms and conditions, followed by an OTP confirmation

Move closer to achieving your financial goals by following these easy loan application steps from SMFG India Credit.

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