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

Calculate Personal Loan EMI

`
50,00025,00,000
Months
12 Months60 Months

Assuming annual interest rate of 11.99

Calculated EMI*   6,642  Apply For Loan

Loans Upto ` 25 Lakh*

Quick Disbursal

Minimal Documentation

Flexible Tenure

Personal Loan in Jamnagar

Jamnagar, the “Brass City” is known for its rich culture, history, and local crafts like bandhani and metalware. Some of the many industries that thrive in the coastal city include oil refineries, textiles, pottery, cement, and salt. It is home to famous landmarks such as Shantinath and Adinath Mandir, Balahanuman Temple, Ranmal Lake, and Bhujiyo Kotho. 

If you are looking for a personal loan service in Jamnagar, SMFG India Credit offers collateral-free loans with minimal documentation for quick access to funds. Let us take a look at the eligibility criteria, required documents, and a step-by-step process to apply for a personal loan in Jamnagar.

Features and Benefits of a Personal Loan in Jamnagar

  1. Easy and quick approval: SMFG India Credit has simple and basic personal loan eligibility criteria that make it easier for you to apply and get the required funds.
  2. No collateral necessary: As unsecured loans, you do not have to pledge any collateral to get your personal loan.
  3. Seamless application process: Online application that requires minimal documentation makes for a hassle-free loan application process.
  4. Lower interest rates and flexible repayment schedule: The interest rates start as low as 11.99% per annum*, along with a flexible repayment tenure of up to 60 months. 

Eligibility Criteria for a Personal Loan in Jamnagar

  1. Nationality: You must be a citizen and resident of India.
  2. Age: Your age must be between 22 and 65 years, i.e., you must not exceed the age of 65 at the time of loan maturity. The minimum age for self-employed individuals is 25 years.
  3. Work experience: Salaried employees must have an overall work experience of at least 1 year, with a minimum of 6 months of tenure at the current company. Self-employed applicants must have a business that has been in existence for at least 3 years.
  4. Minimum income: For salaried individuals in Delhi or Mumbai, the minimum income is INR 25,000* per month. For other cities, it is INR 20,000* per month. For the self-employed, the eligibility income is based on the yearly profit after taxes and minimum annual turnover, depending upon the nature of the industry or the profession.
  5. Credit score: You must have a credit score of 750 and above, along with a strong credit history.

**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.

Documents Required for a Personal Loan in Jamnagar

Please note that the documentation required for a personal loan in Jamnagar varies slightly for salaried and self-employed applicants.

Basic Documentation Requirements are as follows:

  • PAN card
  • Identity proof (Aadhar card, driving license, passport, voter ID, etc)
  • Signature proof (Passport, PAN card, etc)
  • Address proof (Passport copy, Aadhar card, driving license, utility bill (gas or electricity), Voter ID, ration card, rent agreement, etc.
  • Account statements for the last 6 months

Additional Documents for Salaried Applicants:

  • Salary slips for the last 3 months
  • Income Tax Returns or Form 16

Additional Documents for Self-employed Applicants:

  • Balance sheet and profit and loss account, income computation for the last 2 years
  • Income Tax Returns for the last 2 years
  • Business proof (License, GST number, or registration certificate)
  • IT Assessment or Clearance Certificate
  • Income Tax challans or TDS Certificate (Form 16A) or Form 26 AS for income declared in ITR

Please note that additional documents may be requested depending on your profile and SMFG India Credit’s policy at the time of loan application. Keeping the documents well-prepared in advance and ensuring that they are error-free will help speed up the loan approval process.

Interest Rates and Charges for a Personal Loan in Jamnagar

The best personal loan rate applicable will be decided upon your profile. Here is an overview of the interest rates and charges you can expect while applying for a personal loan in Jamnagar.

Personal Loan Interest Rate

Starts at 11.99%* per annum

Processing Fee

Between 0% to 6% of the total loan amount

Available Loan Amount

Up to INR 25 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 Lakh

INR 1,112 for 5 years or 60 months

Late Payment Charges (Applicable for Payment Default)

2% plus GST charged monthly (24% per annum) on the overdue amount calculated on a day-to-day basis

Prepayment Expenses

0% to 7%

Loan Cancellation Charges (Loan Cancelled Before First EMI)

INR 1,000

Cheque/ECS/NACH Dishonoured Charges

INR 300

How to Apply for a Personal Loan in Jamnagar

Follow these steps to apply for a personal loan in Jamnagar:

  1. Access our website at www.smfgindiacredit.com to initiate the loan application process. You can also click here to start your application.
  2. Enter the required details such as your mobile number, PAN, pincode, and employment status (salaried or self-employed).
  3. You will receive a 6-digit OTP for mobile number verification. It is also necessary to verify your email ID.
  4. Provide additional information like your email address, date of birth, gender, income, and employment history.
  5. Carefully go through the loan terms, amount, any associated fees, and repayment options. Once satisfied, confirm your acceptance. You will also be given an option to choose a higher loan amount. 
  6. If you are a salaried employee, please enter details specific to your employment.
  7. Complete identity and address verification via CKYC, OKYC, or DigiLocker.
  8. Enter your bank account details, which we will verify. Upon successful verification, you will be prompted to add some extra information in the 'Additional Details' section.
  9. Choose a preferred payment option between a debit card and internet banking, before completing the eNACH setup.
  10. Sign the loan agreement digitally after reviewing it and confirm the same with an OTP.

Get one step closer to your financial goals with this easy application procedure for a personal loan in Jamnagar.

Apply for Personal Loan

* 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

Branch Address 1

Navkar Heights, First Floor, Shop No. 101,102,103, Lalwadi Main Road, GD Shah School Road, Jamnagar - 361008, Gujarat

Branch Address 2

First Floor, Shop No. 101 - 105, Soham Complex, Gurudwara Road, Jamnagar, Gujarat - 361 001

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 eligibility decided for a personal loan in Jamnagar?

Personal loan eligibility is determined by several factors such as age, income, nationality, work experience, and type of employment. It can also be influenced by the lender’s policy at the time of loan application.

What are the benefits of applying for a personal loan in Jamnagar?

Applying for a personal loan in Jamnagar is a quick and easy process that can be initiated online, from the comfort of your home. For eligible applicants, the loan comes with attractive interest rates starting at 11.99% per annum* and a flexible loan tenure of up to 60 months*. The document requirements are minimal and once the loan is approved, the funds can be quickly disbursed to your account within 24 hours* or 1 working day*.

How can I get a lower interest rate for my personal loan in Jamnagar?

Here are some tips to get a lower interest rate for a personal loan in Jamnagar:

  • Maintain a good credit score that is ideally 750 or above.
  • Keep your debt-to-income ratio equal to or below 30%.
  • Try to settle any outstanding debts before applying for a loan
  • Choose a loan amount and tenure that does not overly strain your finances. Use our personal loan EMI calculator to plan your finances efficiently.

Will my personal loan or EMI be affected if I change my employer?

Unless your new income is lower than your previous income, changing your employer will not have any significant impact on your personal loan or EMI. In this situation, the lending institution can consider reducing the EMI or extending the loan tenure. It is recommended to keep your lender updated with new employment information whenever applicable.

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