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

Overview

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 anytime. And to overcome these monetary hurdles, you can choose to personal loan in Delhi through SMFG India Credit. We provide financing for up to Rs. 25 lakhs on flexible tenure between 12 months and 60 months. You are not required to put up a collateral to avail of this loan.

Documents & Eligibility to Apply for the Loan

Below-provided are the documents required for an instant 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, we will also require salary slips of the last 3 months 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.

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 21 years and 60 years
  • You should be a self-employed individual. You can be 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 of at least 1 year, with 6 months completed with the current employer
  • 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 to Get a Personal Loan in Delhi

If you are a resident of Delhi, then your monthly salary should be at least Rs. 25,000 to apply for the loan. The minimum salary requirement is the same for residents of Mumbai. However, if you are residing in any other city of India, then the minimum monthly salary requirement is Rs. 20,000.

Personal Loan Interest Rates in Delhi NCR

We at SMFG India Credit offer an affordable instant personal loan in Delhi beginning at 11.99%. We analyze 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, existing monthly financial liabilities including credit card debts, etc.

  • The loan processing fee is up to 3% of the principal amount you borrow
  • 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

How to Apply for the Loan?

To get an easy personal loan in Delhi, you can apply online on our website by clicking the “Apply Now” button on the top-right hand side. Please provide the details as mentioned in the loan application form and ensure that you are entering the information carefully. Before applying, it is advisable to keep a soft-copy of the required documents handy for a quick upload. After you submit the application, our team will review your request, and contact you shortly regarding the personal loan application status.

  • You can also visit us at our branch office. Find the nearest one in your area and talk to our customer representative about the available schemes for a personal loan in Delhi NCR.
  • If you are interested in the offer, you can apply for the loan and submit the hard-copy of the documents.
  • After verification of the documents and loan application details, we will inform you about the decision of the lender.

Alternatively, you can also contact us via telephone on our toll free number - our representative will be happy to guide you. If you prefer the digital touch, you can also download the SMFG India Credit Instaloan app on your mobile and use the app to apply for a personal loan. Please note however, that at the moment, the Instaloan app can only be used by salaried individuals. If you are self-employed, you can use any of the other channels mentioned above.

*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

Page also available inहिन्दी - Hindi

* 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 do I qualify for an instant personal loan in Delhi NCR?

These are some of the eligibility criteria:

  • You must be a residing citizen of India.
  • Your age must be between 22 years (25 for self-employed) and 65 years (at the time of loan maturity). Please note that you should not exceed 65 years of age at the time of loan maturity.
  • For the self-employed, your business must have been operational for at least 3 years. The eligibility income depends on the yearly profit after tax and the minimum annual turnover.
  • For the salaried, you should have a minimum of 1 year of work experience and have completed 6 months with the current employer. Your minimum monthly income must be INR 25,000.

Please note that the final eligibility depends upon several other factors including SMFG India Credit’s policy at the time of loan application.

What are the factors to consider before taking a personal loan in Delhi?

Here are some factors you should consider:

  • Evaluate your needs before taking out a personal loan. Overborrowing can strain your existing budget.
  • Maintain a good credit score of at least 750.
  • Check the eligibility criteria beforehand. Use the personal loan eligibility calculator so that you can get an estimate of the maximum loan amount you may be able to get.
  • Take any additional costs such as processing fees and pre-closure charges into consideration.
  • Ensure to check the repayment plan thoroughly. Use the EMI calculator to get an estimate of your monthly installments. Plan for the loan amount and tenure accordingly, taking into account your existing monthly expenses.

Can I get an instant personal loan with a low credit score in Delhi NCR?

Your CIBIL score should be 750 or above to apply for a personal loan. Other criteria may be applied for profiles with credit scores lower than 750. Please contact us to know more.

How quickly can I expect to receive the funds after applying for an instant personal loan?

At SMFG India Credit, you can get the loan amount within 30 minutes* of loan approval and document verification.

What are the interest rates for instant personal loans in Delhi NCR?

SMFG India Credit offers personal loans in Delhi with interest rates starting at 11.99% per annum*.

Are there any additional fees or charges associated with instant personal loans?

Personal loan fees and charges include:

  • A loan processing fee of up to 6% of the principal amount borrowed.
  • Prepayment charges of up to 7%.
  • Loan cancellation charges of INR 1,000 for loans canceled before the first EMI.
Read MoreRead Less

Contact Us

Address:

Second & Third Floor, WZ 115A, Meenakshi Garden, Near Subhash Nagar Metro Station, Tilak Nagar, New Delhi 110018

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
3 Primary Ways to Ensure a Good Interest Rate on Your Personal Loan

3 Primary Ways to Ensure a Good Interest Rate on Your Personal Loan

A personal loan can help you cover an unexpected medical bill, home repairs, credit card payment…

More...

What's the Difference Between Good Debt and Bad Debt?

What's the Difference Between Good Debt and Bad Debt?

Whether a debt is ‘good’ or ‘bad’ depends on how it is used or managed. If a debt adds to your…

More...

Debt Avalanche: Meaning, Pros and Cons and Examples

Debt Avalanche: Meaning, Pros and Cons and Examples

In the journey towards financial stability and freedom, understanding and effectively managing…

More...

Financial Hacks for Working Professionals: 5 Smart Ways to Manage Your Money

Financial Hacks for Working Professionals: 5 Smart Ways to Manage Your Money

In a bid to earn more money, thoughts of managing it can often take a back seat. However, money…

More...