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Personal Loan In Hosur
Hosur is a vibrant industrial city in Krishnagiri district, Tamil Nadu, India. It is a manufacturing hub for industrial giants like Ashok Leyland, Kansai Nerolac Paints, Titan, Stellantis, Ather Energy, TVS Motors, Caterpillar, and Schaeffler. Its unique location along the Tamil Nadu-Karnataka border makes it an important part of the Golden Quadrilateral project. Hosur also boasts historical importance and is home to the famous Sri Venugopala Swamy Temple, the Hosur Fort, and the Punganur Lake. The city is known for its natural beauty and pleasant weather.
If you are looking for a personal loan in Hosur to meet your financial needs, SMFG India Credit can assist you with quick and easy access to funds. Let’s explore the features, eligibility criteria, documentation requirements, and step-by-step process of applying for a personal loan in Hosur.
Features And Benefits Of Personal Loan In Hosur
Flexible Repayment Schedule
With SMFG India Credit, you can choose an EMI plan and repayment schedule that suit your budget. We offer a flexible loan repayment schedule of 2 to 60 months at competitive interest rates (starting at 13%* per annum).
Loans for Different Needs
Whether a medical emergency, wedding, travel, or home renovation, a personal loan can provide the necessary financial support to fulfil your needs.
No Need for Collateral
Being an unsecured loan, you no longer have to worry about arranging for collateral or a co-guarantor.
Minimal Documentation
You can avail a personal loan of up to Rs. 30 lakhs* with a seamless online application process and essential documents to verify your request.
Prompt Loan Disbursal
Our support team ensures that verifications are done in almost real-time to provide personal loans within 30 minutes* of loan approval.
Eligibility Criteria For Instant Personal Loan In Hosur
- Age: The individual can be anywhere between 21-60 years of age. The minimum age for self-employed individuals is 22 years.
- Nationality: The applicant must be a citizen and resident of India.
- Employment Status: A work experience of at least one year, with at least six months with the present employer, is required. If self-employed, the individual must have been in business for at least three years.
- Minimum Monthly Pay: A minimum of INR 20,000 in monthly salary is desirable to qualify for a personal loan in Hosur. In the case of the self-employed, the minimum annual sales and profit (after taxes) based on industry type and work domain determine the income.
Documents Required To Apply For A Personal Loan In Hosur
When applying for a personal loan, prepare all essential documents (originals and copies) beforehand to save time and energy during the application process. The documents may vary slightly depending on your employment status. Here is a list of the required paperwork:
|
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 Hosur
SMFG India Credit Personal Interest Rates:
|
Personal Loan Interest Rate |
Starting at 13%* per annum |
|
Processing Fee |
0-6% of the total loan amount |
|
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 |
2% plus GST charged monthly (24% per annum) on the overdue amount calculated on day-to-day basis. |
|
Prepayment Expenses |
0-7% |
|
Loan Cancellation Charges |
INR 1,000 |
|
Cheque/ECS/NACH Dishonoured Charges |
INR 300 |
How To Apply For A Personal Loan In Hosur?
Follow these instructions to apply for a personal loan from SMFG India Credit:
- Click here to initiate the loan application.
- Provide your mobile number, PAN, pincode, and specify your employment type.
- Authenticate the mobile number via OTP and verify your email ID.
- Fill in details like email address, date of birth, gender, employment history, and annual household income.
- Review the terms of the loan customised for you, noting the repayment schedule, fees, and amount. Confirm acceptance upon satisfaction. Assess the option you will get to choose a higher loan amount.
- For salaried individuals, please enter detailed employment data.
- Go through the digital procedures for identity and address verification. You can use well-established methods like CKYC, OKYC, and DigiLocker.
- Input your bank details for our verification. Post this, you have to add details like the loan’s purpose and reference information in the ‘Additional Details’ section.
- Select a payment method, choosing between debit card and internet banking, and complete the setup for eNACH.
- Digitally sign the loan agreement after reviewing it. Validate the same with an OTP.
Complete these easy steps today and continue the advance towards your financial goals.
* 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:
Third Floor, No:-28/29, GKV Tower, Opp. Sub Collector Office, Denkanikottai Road, Shanthi Nagar, Hosur - 635109, Tamil Nadu
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 Hosur eligibility calculated?
Several factors, such as the loan amount, your income, credit score, employment history, and debt-to-income history, determine your eligibility for a personal loan. These factors are then used to calculate your eligibility for a personal loan.
What are the advantages of applying for an online personal loan in Hosur?
Applying for a personal loan online in Hosur is simple, quick, and convenient. You can start the application process from the comfort of your home. These loans are available at attractive interest rates and require minimal documentation. After a quick verification, the lending institution can disburse the loan in no time.
How to get a lower interest rate on my personal loan in Hosur?
You can use these tips to ensure the availability of a personal loan at low interest rates:
- Ensure you have a good credit score. A CIBIL score of 750+ is desirable.
- Remember to clear all outstanding debts.
- Improve your debt-to-income ratio.
- Select a loan amount and tenure that are comfortable and don’t stress your finances.
If I change my employer, will it affect my personal loan or EMI?
Changing your employer will only be significant if your new income is lower than your previous income. The lending institution may ask you to extend the loan term or reduce the EMI amount. It would be best to submit your new employment details to the lender to keep them updated.
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]