Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.
Assuming annual interest rate of 13
Loans Upto ` 30 Lakh*
Quick Disbursal
Minimal Documentation
Flexible Tenure
Whether it is anticipated or urgent, the need for funds may manifest in multiple ways. It could arrive in the form of unexpected medical expenses, exciting education opportunities, or even a major life event like a wedding celebration.
Personal loans are an ideal solution as they require no collateral and can be used for a wide range of purposes without restrictions.
SMFG India Credit is able to conveniently meet the need for personal loans that help to finance these anticipated or urgent monetary requirements. For example, if you need an INR 5 lakhs personal loan, you can simply avail of it by meeting the minimum eligibility and documentation requirements.
To avail of a personal loan of up to INR 5 lakhs, you need to meet some basic eligibility criteria. You can use SMFG India Credit's free Personal Loan Eligibility Checker to calculate your personal loan eligibility. It is a free-of-cost online tool that eases your borrowing experience.
It considers factors such as your current EMIs, monthly income, date of birth, city of residence, interest rate, and tenure to determine your eligibility for a personal loan. Conducting this online eligibility check allows you to gauge the amount you can reasonably borrow and comfortably repay. Whether you're a salaried employee or self-employed, SMFG India Credit welcomes your application.
Age:Applicants must be at least 22 years old at the time of loan application and not exceeding 65 years of age at the loan's maturity. Self-employed applicants need to be at least 25 years of age to apply.
Citizenship:An applicant must be an Indian resident.
Work Experience:Applicants are required to have a minimum employment tenure of 6 months with their current employer.
Monthly Salary:The minimum monthly income requirement for applicants residing in Delhi and Mumbai is INR 25,000, while applicants from other regions across the country should have a monthly income of INR 20,000.
When seeking an INR 5 lakhs loan, you will need the following documentation:
Here's a breakdown of the fees and charges associated with SMFG India Credit's personal loans, offering a comprehensive understanding of the financial implications.
These charges, in conjunction with the interest rates, play a pivotal role in determining the overall cost of the loan. The figures below outline the relevant fees and charges, all presented in Indian Rupees (₹).
Fees & Charges |
Amount Chargeable |
Personal Loan Interest Rate |
Starting at 13%* per annum |
Processing Fee |
Up to 5% of the total loan amount + GST |
Late Payment Charges |
2% plus GST charged monthly (24% per annum) on the overdue amount calculated on a day-to-day basis. |
Cheque/ECS/ACH Direct Debit Dishonour Charges(Note: The Cheque/ECS/ACH Direct Debit Dishonour Charges as referred to above are not compensatory and/or to be construed as any form of consideration towards the act of dishonour and in no way should the same be construed as fees recovered under this facility. It is abundantly clarified that SMFG India Credit does not tolerate the dishonour of instruments and/or deposit of an invalid, fake, or unworthy instrument issued towards meeting payment obligations under this facility and any Charges collected thereof are not intended to compound such acts of dishonour. Notwithstanding any Charges collected hereof SMFG India Credit reserves its right to invoke the appropriate civil and criminal laws) |
An amount not exceeding INR 300/- per instance shall also be payable for every instance of dishonour of Cheque/ECS/ACH Direct Debit. |
Loan Cancellation Charges (loan cancelled before first EMI) |
An amount not exceeding INR 5,000/- if the loan is cancelled at the request of the Borrower after disbursement of the Loan, but before the encashment of the Loan disbursal cheque. If cancellation of the Loan is requested after the encashment of the Loan amount, Prepayment conditions as specified herein shall apply. |
SMFG India Credit’s online personal loan EMI calculator lets you calculate EMI amounts for different loan tenures accurately and instantly.
For INR 5 lakh personal loan, the EMI for 1-year loan tenure at an 13% rate of interest per annum is ₹ 44,659, 2-year tenure is ₹ 23,771, 3-year tenure is ₹ 16,847, 4-year tenure is ₹ 13,414 and 5-year tenure is ₹11,377.
Loan Amount (Rs) |
Interest Rate (p.a.) |
Tenure (years) |
EMI (Rs) |
Rs 5 Lakhs |
13% |
1 |
44,659 |
2 |
23,771 |
||
3 |
16,847 |
||
4 |
13,414 |
||
5 |
11,377 |
Disclaimer: These are approximate EMI calculations, actual numbers may vary.
If you want to calculate your INR 5 lakh personal loan EMI, access SMFG India Credit’s personal loan EMI calculator and follow these steps.
Once you input these details into the EMI calculator, it will compute your monthly EMI. This EMI represents the amount you need to pay each month to repay your personal loan, considering the loan amount, tenure, and interest rate you've specified.
A INR 5 lakh personal loan helps to finance anticipated or urgent monetary requirements, including:
When faced with an unexpected medical emergency or medical expenses not covered by insurance, a personal loan can provide the necessary funds promptly.
If you are juggling multiple unsecured loans, consolidating them into a single personal loan is a wise financial move.
Professionals aiming to enhance their skills can realize their academic aspirations by securing an online personal loan.
Finance your wedding arrangements with a personal loan.
Transform your home by redesigning, upgrading appliances, or furnishing it with a personal loan.
To begin your personal loan application process at SMFG India Credit, adhere to the following steps:
By following these easy steps, you are on your way to achieving your financial goals with a personal loan.
From a simple online application process to flexible repayment options, there are many benefits of taking a personal loan up to INR 5 lakhs* from SMFG India Credit:
Be it financing your child’s higher education, marriage, setting up a start-up, or funding emergency medical treatment, SMFG India Credit’s easy and convenient personal loan is the most straightforward way to fulfil your personal expenses.
SMFG India Credit offers competitive interest rates starting from 13%* per annum on personal loans. Additionally, you get a flexible tenure between 12 and 60 months to repay your INR 5 lakhs personal loan. With affordable EMIs, it ensures that you never miss out on a single repayment instalment during this period. In fact, you can determine your instalment amount prior to making your formal loan application with the assistance of SMFG India Credit’s simple-to-use personal loan EMI calculator available on the website.
If you have more questions on how to get your INR 5 lakh personal loan sanctioned, simply call the customer service team on our toll free number (1800 103 6001) or email us on .
* 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.
SMFG India Credit offers competitive interest rates starting from 13%* per annum on personal loans. The EMI for an INR 5 lakh personal loan for a 5-year tenure is INR 11,377.
SMFG India Credit offers competitive interest rates starting from 13%* per annum on personal loans. Other charges applicable are:
SMFG India Credit’s online personal loan EMI calculator lets you calculate EMI amounts for different loan tenure accurately and instantly. For INR 5 lakh personal loan, the EMI for 1-year loan tenure at an 13%* per annum rate of interest per annum is INR 44,442, 2-year tenure is INR 23,534, 3-year tenure is INR 16,605, 4-year tenure is INR 13,164 and 5-year tenure is INR 11,120.
There are 3 factors that influence the EMIs of an INR 5 lakh personal loan. These are the loan amount, interest rate, and loan tenure. A reliable personal loan EMI calculator can give borrowers an estimate of their EMIs and help them make informed decisions and plan their finances effectively.
Getting an INR 5 lakh personal loan with a low CIBIL score can be challenging. Consider the following options:
It depends on your individual circumstances and the lender's requirements. However, having a co-applicant can be beneficial if:
When you apply for an INR 5 lakh loan, you will get a decision on your application within minutes of submitting it. The exact processing time will depend on your eligibility, the accuracy of the submitted documents, and our policies at the time of loan application. Please note that offline applications will take more time to be processed.
Yes, you can get personal loans without collateral. They are approved based on several factors such as the applicant’s income, age, credit score, and work experience. By meeting the lender’s eligibility criteria and demonstrating a strong credit history, you can get the best INR 5 lakhs loan terms.
To apply for an INR 5 lakhs personal loan at SMFG India Credit, you need a minimum credit score of 750. This threshold can vary from lender to lender.
Submitting some basic documents such as identity proof and income proof is mandatory for smooth personal loan approval. If you wish to apply for an INR 5,00,000 personal loan, you can check out our document requirements here.
It is important to maintain a minimum CIBIL Score of 750 or above to meet our INR 5 lakhs loan eligibility criteria.
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