Surat, the diamond polishing city of India is also famous for its textiles, food etc. It is also one of the first IT smart cities of India that has tied up with several companies including Wipro and Tata Consultancy Services under the Microsoft City Next Initiative.
SMFG India Credit has a very prominent presence in Surat helping residents of this city to avail of personal and business finance at competitive rates of interest. We offer customized personal loans that can be used to finance education, travel, wedding related expenses, medical emergencies and much more.
A personal loan is an unsecured loan that is offered to salaried and self-employed professionals for a short duration of time.
The different factors that affect your eligibility applying for a personal loan include:
To apply for a personal loan with SMFG India Credit, you need to be at least 21 years of age at the time of loan application and a maximum of 65 years of age at the time of loan maturity. You should possess a minimum of 1 year of work experience and 6 months of experience in the current organization.
Your credit history plays an important role in determining the loan amount, eligibility and payment tenure. You can calculate the approximate loan amount you are eligible for with the help of our free online personal loan eligibility calculator.
The minimum income to be able to apply for a personal loan is Rs. 25,000 for residents of Mumbai and Delhi and Rs. 16,000* for residents of all other cities.
The CIBIL score is a reflection of your credit history. A score of above 705 can help you obtain a personal loan in Surat at a very competitive rate of interest.
Minimal documentation is required to apply for a personal loan. The list varies slightly for self-employed and salaried professionals. The documents required by SMFG India Credit include:
SMFG India Credit offers personal loans at attractive rates based on your credit history, requirement and other factors. A processing charge of 3% is also applicable in addition to the interest charges. If you would like to prepay the loan amount before maturity, foreclosure charges between 0-7 percent may also be applicable.
|
Interest Rate |
13% to 36.00%* |
|
Processing Fee |
Up to 3.75% of the total loan amount + GST |
|
Foreclosure Charges |
0% to 7% |
|
Loan Tenure |
Up to 5 years |
|
Lowest EMI Per Month |
Starting from INR 1,138* for 60 months |
For more details, please visit our personal loan interest rates page.
(These figures are subject to change without prior notice).
The process of applying for a personal loan online is smooth and hassle-free. The steps involved in applying for a personal loan are:
Familiarizing yourself with the process will help in further simplifying your experience right from application to the payment of the last instalment.
* 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.
Getting a personal loan with a low CIBIL score in Surat is possible by exploring lenders with relaxed eligibility criteria. However, they may charge higher interest rates or impose stricter terms. Adding a co-applicant with a stable income and strong credit score can boost your chances. It’s advisable to improve your CIBIL score to 705 or above before applying.
Yes, individuals with a low salary may qualify for a personal loan in Surat if they meet other criteria, like maintaining a strong credit score and stable employment history. Opting for a smaller loan amount or using a guarantor/co-applicant with a higher income can also improve approval chances. Please note that at SMFG India Credit, Surat residents require a minimum monthly income of Rs. 16,000*.
SMFG India Credit offers a quick and efficient loan approval process, with funds disbursed quickly upon approval, ensuring timely access to financial assistance. However, the processing time is subject to applicant eligibility and the accuracy of the documents submitted. Offline applications may also take longer to process.
Applicants in Surat need to have a minimum monthly income of Rs. 16,000* to apply for a personal loan from SMFG India Credit.
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