At SMFG India Credit, we offer personal loans to facilitate your personal needs and help you further your dreams and aspirations. You can take a personal loan to organise a dream vacation for your family, fund wedding expenses, manage medical emergencies, repay another loan, and for several other reasons. SMFG India Credit’s process for personal loans is simple, completely digital, and involves quick decisioning so as to meet your requirements on time.
The basic eligibility requirements to apply for an SMFG India Credit personal loan include:
You can check personal loan eligibility in detail here.
The interest rates offered by SMFG India Credit vary based on the borrower's creditworthiness, amount and tenure of the loan, and other factors. Our interest rates start from 13%* per annum.
Along with interest rates, there are a few fees and charges to keep in mind, such as processing fees and prepayment charges. To know more, please visit the personal loan interest rates page.
The common document requirements include:
You can check the complete list of the required personal loan documents here.
EMI calculators help to calculate the monthly EMI to be paid on the loan. This calculation depends on the total loan amount, interest rate, and tenure.
You may use our personal loan EMI calculator for instant calculation.
Apply for a personal loan at SMFG India Credit by following these steps:
Provide your mobile number, PAN, pincode, and employment status (salaried or self-employed).
Confirm your mobile number by entering the 6-digit OTP sent to your registered phone.
Provide additional information like your email address, date of birth, gender, and annual household income. Verify your email ID as well.
Salaried individuals need to give information on the specifics of their employment.
Please provide your bank statement using Net Banking, an Account Aggregator, or by uploading the document. This will allow us to generate a loan offer (applicable only for salaried individuals).
Digitally verify your identity and share address details through well-known platforms like CKYC, Offline Aadhaar XML-based KYC, and DigiLocker. You must take a selfie to complete the identity verification process.
Submit your bank account details for verification.
After verification of the bank account, you will be directed to provide some more details in the 'Additional Details' section. These include your loan purpose, marital status, father’s name, and mother’s maiden name.
Opt for a re-payment mode of debit card or internet banking before setting up E-NACH.
Review the loan agreement carefully, digitally sign it to acknowledge the terms and conditions, and validate it using the 6-digit OTP sent to your registered mobile number to complete the loan process.
Follow these easy steps to advance toward your financial goals with a personal loan from SMFG India Credit. Compared to other types of loans, the personal loan approval process is quite easy as long as the documents are valid.
*Loans are disbursed at the sole discretion of SMFG India Credit. Please note that final approval, loan terms, and disbursal processes will be subject to SMFG India Credit's policy at the time of the loan application.
Check Your Eligibility Apply Now
* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us
There is no fixed maximum personal loan approval time. Once you submit an online application, you will be informed whether your application has been approved within seconds. After this, our representative will get in touch with you as your application is submitted to various checks. The approval time depends on your eligibility and whether you have submitted all the required, error-free documents. It can be a few days to weeks if you need to provide additional documents.
Once the loan is approved, you can get the loan amount within 30 minutes*.
Here are some tips to keep in mind:
After approval, the funds will be transferred to you within 30 minutes*.
In order to be eligible for a personal loan, you must meet some criteria. It consists of your age, work experience, CIBIL score, employment type, monthly income, and repayment history.
Please note that these are the basic eligibility criteria. The final eligibility depends upon several parameters including SMFG India Credit’s policy at the time of loan application.
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