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

Calculate Personal Loan EMI

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 Loans In Vellore

Vellore is a sprawling city that is widely known for its rich cultural heritage, historical significance, and educational institutions. Vellore is home to several esteemed institutions, like Vellore Institute of Technology (VIT), Christian Medical College (CMC), and others, making it an educational hub. At the same time, it also has a growing industrial sector, contributing to its economic development.

In Vellore, families often require financial support for education, medical emergencies, housing, and other essential expenses. Personal loans are commonly sought after for educational needs, medical emergencies, including surgeries not covered by insurance, and various other purposes, aligning with the city's educational and healthcare prominence.

Features And Benefits Of Personal Loans In Vellore:

Seamless Online Applications

Accessible online applications have made it more convenient and efficient for individuals to seek financial assistance from the comfort of their homes.

100% Paperless Process

Vellore's new online application system simplifies applications by allowing electronic document submission, saving time and effort for both applicants and lenders.

Collateral-Free Loans

Being an unsecured loan, you can apply for a quick personal loan without worrying about pledging your assets.

Affordable Rates

You can now avail personal loans at rates as low as 11.99%* per annum. This prevents borrowers from falling into debt traps.

Flexible Repayment Tenures

You can choose the repayment tenure anywhere from 2 months to 60 months. This will enable you to align the tenures with your financial capabilities.

Multipurpose Use

These funds can be utilised for various purposes, including medical emergencies, small businesses, weddings, and personal commitments.

Eligibility Criteria For Personal Loans In Vellore

  • Citizenship: Applicants must hold Indian citizenship.
  • Age Bracket: Individuals in the age range of 21 (or 22) to 60 years qualify to apply.
  • Employment: Applicants can be employed in a public sector enterprise, a private limited company, or be self-employed.
  • Minimum Monthly Income: Salaried individuals in Vellore must earn a monthly income of at least INR 20,000.
  • Credit Score: A minimum CIBIL score of 750 or higher is required.
  • Self-Employed Income Eligibility: Self-employed individuals' eligibility is based on their minimum annual post-tax profit and industry domain.

Necessary Documentation For Personal Loans In Vellore

When applying for a personal loan, it's essential to collect all the required documents (both originals and copies) in advance. The specific documents needed may vary based on your employment status. Here's a detailed list:

Document Type

Salaried Personnel (Any One)

Self-Employed Individuals (Any One)

Identity Proof

Identity cards like PAN Card, Aadhar Card, Driver’s License, Passport, or Voter ID

Identity cards like PAN Card, Aadhar 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 certificate 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 For Personal Loans In Vellore:

Interest rates for personal loans in Vellore range from 11.99%* to 36%* per annum, varying based on factors. Here are details regarding the interest rates for a personal loan:

Personal Loan Interest Rate

Starting at 11.99% per annum

Processing Fee

0-6% 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

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


Loan Cancellation Charges

INR 1,000

Cheque/ECS/NACH Dishonoured Charges

INR 300

How To Apply For A Personal Loan In Vellore:

To obtain a personal loan from SMFG India Credit, you need to follow these steps:

  1. Initiate your application by clicking here.
  2. Submit essential details like mobile number, PAN, pincode, and type of employment.
  3. Conduct mobile verification using OTP and verify your email ID.
  4. Give further information, including email address, birth details, gender, and income.
  5. Review the loan terms such as the repayment details and loan amount. Confirm acceptance once satisfied. You will be presented with an option to choose a higher loan amount.
  6. Providing employment details is necessary for salaried applicants.
  7. Verify your identity and address digitally. Use well-known methods like CKYC, OKYC, or DigiLocker.
  8. Provide your banking details. Once we verify the information, you will be prompted to add more information in the ‘Additional Details’ section.
  9. Opt for debit card or internet banking as your payment method and set up eNACH.
  10. Digitally review and sign the loan agreement, securing it with an OTP.

Progress toward your financial goals with SMFG India Credit’s easy personal loan application steps.

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


First Floor, No:-7/A, 1st East Main Road, MC Gandhi Nagar, Vellore - 632006, 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).


How do I know if I am eligible for personal loans in Vellore?

When applying for a personal loan in Vellore, lenders evaluate your eligibility based on several key factors, such as:

  • The loan amount requested.
  • Your income level,
  • Past credit behaviour,
  • Employment history,
  • Debt-to-income ratio.

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

Applying for a personal loan online in Vellore is convenient, quick, and hassle-free, allowing you to initiate the application from the comfort of your home. Additionally, these loans offer attractive interest rates and require minimal paperwork. The lending institution credits the loan promptly upon verification, thus saving your precious time.

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

Consider the following techniques to acquire a reduced loan interest rate:

  • Keep a solid CIBIL score (at least 750),
  • Choose trustworthy lenders,
  • Reduce your debt-to-income ratio,
  • Ask a co-signer or guarantor to apply for added credibility,
  • Ensure timely payment of all debts.

If I change my employer, will it affect my personal loan or EMI?

Keeping your lender informed about any changes is a proactive approach that can help ensure transparency and maintain a healthy relationship. By doing so, your lender may also provide you with guidance on how to re-evaluate your loan terms to align with your new salary, which can ultimately benefit you in the long run.