Calculate Personal Loan EMI

`
50,00030,00,000
Months
12 Months60 Months

Assuming annual interest rate of 13

Calculated EMI*   6,642  Apply For Loan

Loans Upto ` 30 Lakh*

Quick Disbursal

Minimal Documentation

Flexible Tenure

Personal Loan in Surat

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.

Documents & Eligibility for Personal Loan in Surat

The different factors that affect your eligibility applying for a personal loan include:

Age Limit

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.

Credit History

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.

Minimum Salary

The minimum income to be able to apply for a personal loan is Rs. 25,000 for residents of Mumbai and Delhi and Rs. 20,000 for residents of all other cities.

CIBIL Score

The CIBIL score is a reflection of your credit history. A score of above 750 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:

  • Valid ID and Address proof such as  Aadhar card, voters ID and driving license
  • Income statements and audited financials case of self-employed professionals, previous 2-3 months’ salary slips in the case of salaried professionals
  • Last 6 months bank statements
  • A copy of your Income tax returns or Form 16.

Interest Rates

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 5% of the total loan amount + GST

Foreclosure Charges

0% to 7%

Loan Tenure

Up to 5 years

Lowest EMI (per lakh)

Rs. 2275*

For more details, please visit our personal loan interest rates page.

(These figures are subject to change without prior notice).

How to Apply for Personal Loan in Surat?

The process of applying for a personal loan online is smooth and hassle-free. The steps involved in applying for a personal loan are:

  • Log in to the website and fill in the required details
  • Enter the loan amount and the repayment tenure required
  • Submit the documents required
  • The approved amount will be credited to your account in 24 hours

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.

FAQs

How to get a personal loan with a low CIBIL score in Surat?

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 750 or above before applying.

Can a person get a personal loan for a low salary in Surat?

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 INR 20,000.

How long does it take to get a personal loan in Surat?

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.

What is the minimum income requirement to get a personal loan in Surat?

Applicants in Surat need to have a minimum monthly income of INR 20,000 to apply for a personal loan from SMFG India Credit.

How to get a lower interest rate on my personal loan in Surat?

To secure a lower interest rate on your personal loan in Surat, maintain a CIBIL score of 750 or above, demonstrate a stable income, and reduce existing debt. A positive existing relationship with the lender could help you negotiate better rates. Choosing a shorter loan tenure may also help you save on interest payments.

What are the advantages of applying for an online personal loan in Surat?

Applying for an online personal loan in Surat is quick, convenient, and requires minimal paperwork. You can easily compare lenders, evaluate interest rates, and apply anytime from the comfort of your home, making it a quick and hassle-free experience.

How is my personal loan in Surat eligibility calculated?

Eligibility is determined based on factors like age, income, employment stability, and credit history. SMFG India Credit also provides an online personal loan eligibility calculator to help applicants assess their loan eligibility.

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Contact Us

Address:

Block no. 658/ Paikki 1, T.P. Scheme no. 10 (Adajan), F.P. no. 3, 1st Floor, F-02, F-03 & F-04, The Citadel,Nr. Cable Bridge, Opp. Star Bazar, Hazira Road, Adajan, Surat Gujarat - 395009

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).

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