Personal Loan in Odisha

In the last decade, Odisha has built up a reputation as an upcoming manufacturing hub in Eastern India. It is en route to becoming a smart city in the next few years with a growing population of well to do upper middle class families residing permanently in the state. 

An increasing per capita income and a burgeoning job market have led to a demand for a personal loan in Odisha. In order to service this need, SMFG India Credit offers a range of personal loan products at competitive interest rates for individuals and businesses in the state. 

Convenient and hassle-free personal loan options from SMFG India Credit now enables individuals from Odisha to finance their short term expenditures such as home renovations, debt consolidation, holidays, weddings, medical bills and even higher education easily. Small business owners and self employed professionals on the other hand are able to take advantage of SMFG India Credit’s personal loan to fund working capital needs, short term operational expenses, staff and vendor payments and more.

Eligibility  for Personal Loan in Odisha

SMFG India Credit offers a completely online personal loan application experience. However, it is best to ensure that you meet the required eligibility parameters before you make the formal application for the loan. 

This includes:

• You must be a citizen of India
• You must be between 21 and 60 years of age
• You must be a salaried employee in a public sector enterprise or registered private limited company or be self-employed
• If you are a salaried individual residing in Odisha, then you must have a monthly minimum income of Rs. 20,000
• If you are self-employed or own a business, you will need to provide evidence of minimum yearly profit after tax deduction. The minimum amount will vary depending on industry and profession. 
• You must have a CIBIL score of at least 750 or more
• Cash salary applicants will not be accepted

You can use our personal loan eligibility calculator to estimate the maximum personal loan amount you can get based on a few basic parametres.

Documents Required for Personal Loan in Odisha

If you have ticked all the right boxes, then you will want to make sure what will be your monthly obligation for the amount of personal loan that you wish to apply for. This can be easily checked out on the SMFG India Credit website with the assistance of the personal loan EMI calculator. This is strongly recommended so that you can select a tenure that allows you to ensure the monthly EMI amount fits within your budget.

Knowing your monthly commitment, you can now move on to the personal loan documentation stage that is one of the most critical components of your application process. Here is a quick reference list: 

• PAN card is compulsory
• Any one proof of identity - Voter ID, Passport, Aadhar Card, PAN Card, etc.
• Any one proof of address - Passport, Aadhar Card, Voter ID, Bank Passbook or Statement, Rent Agreement, Utility Bill, etc.
• Any one proof of age - Passport, Voter ID, Aadhar Card, PAN, etc.
• Salary slips for three months for salaried individuals
• Bank statements for six months for both salaried and self-employed individuals
• Proof of income for self-employed individuals or businesses can be established through financial statements 

Please note that depending on your profile and SMFG India Credit’s policy, additional documents may be requested.

For best results, please ensure that your PAN, Aadhaar, bank account and mobile number are linked. Also please make sure that the address proof you submit corresponds to your current address and is reflected in your Aadhaar card. It will speed up our verification process and help us process your application much faster.

Personal Loan Interest Rates in Odisha

SMFG India Credit offers competitive personal loan interest rates starting from 13% that may be availed by both salaried and self-employed individuals in Odisha. However, depending on the applicant’s credit history, current financial obligations and status, amount of loan requested, and the tenure selected, the final rate of interest offered will be determined.

A processing fee of 0-6% on the personal loan amount may be levied by SMFG India Credit. This amount will be deducted from your loan amount and the balance will be transferred to you after your loan has been approved. Generally, the repayment tenure is flexible ranging from 12 to 60 months. Individuals also have the option to foreclose the loan, after a certain number of EMIs have been paid. However, a prepayment charge may be applicable ranging between 0% to 7%.

How to Apply for a Personal Loan?

The process of personal loan application at SMFG India Credit is absolutely contactless for the residents of Odisha. Simply 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. Based on the information provided, instant in-principal approval will be provided. After this, we will get in touch with you to understand your requirements and discuss terms. Only after successful verification checks and documentation, your loan will get approved, after which the sanctioned funds will be deposited in your account.

A customer service representative from the personal loan department will be in touch with you on receipt of your application form and documents. They will guide you towards completing the process and will be able to answer any questions that you may have.

Alternatively, you can always reach out to the customer support team on the toll free number 1800 103 6001 or email us at   .

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