Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.
Assuming annual interest rate of 11.99
Loans Upto ` 25 Lakh*
Quick Disbursal
Minimal Documentation
Flexible Tenure
SMFG India Credit offers personal loans at low interest rates to eligible borrowers . Our online application process enables salaried individuals to apply for a personal loan from the comfort of their homes. Our customized solutions and transparent procedures have enabled us to serve millions of customers across India. Here are a few of the benefits of a SMFG India Credit Personal Loan:
Interest rates: |
Starting from 11.99% |
Loan limit: |
Up to INR 25 lakhs* |
Loan tenure: |
12 months to 60 months |
Processing fees: |
0% to 6% of the loan amount |
The documents required for availing a personal loan from SMFG India Credit include:
For more details, check out our personal loan documents page.
Age between 21 to 60 years**
Salaried or Self-employed
Minimum Salary – INR 20,000 - 25,000**
750 or above, with good credit history
Resident Indian
Overall work experience of 1+ years
**Please note that these are just the basic eligibility criteria. Actual eligibility will be determined based on several parameters including SMFG India Credit’s policy at the time of loan application.
Note: Salaried residents of Mumbai or Delhi: 25,000 per month, Salaried residents of any other Indian City: 20,000 per month
For self-employed individuals, eligibility income will be as per minimum annual turnover, depending on nature of industry / profession
SMFG India Credit offers competitive interest rates on all its quick personal loans. The personal loan interest rates are determined by a number of factors like credit score, age of applicant, employer, repayment capacity, previous relationship with our company, and occupation. Apart from interest rates, there are minimum processing fees and prepayment charges that are nominal in nature.
Interest rates: Starting from only 11.99%* per annum
Processing fees: Upto 6% of loan amount.
Prepayment charges: Upto 7%* of loan amount.
An instant personal loan can be of several uses. Here are the top 6:
4 Easy Steps To Apply Personal Loan Online
Verify your mobile number
Enter personal, bank, income and PAN details
Select loan amount and tenure
Upload relevant documents
SMFG India Credit personal loan calculator is an easy tool that can help you accurately calculate the EMI amount.
The instant result on the right side of the calculator will tell you the monthly EMI.
You can choose to submit the required documents online by uploading soft copies or walk into the branch and submit the hard copies. For customers of SMFG India Credit who have applied for a personal loan online, you can now also send your documents via Whatsapp.
You can definitely foreclose your personal loan. We do not apply foreclosure charges on floating rate term loans provided to individual borrowers. The foreclosure charges are
Choose SMFG India Credit Personal Loans for the following benefits:
To check the status of your personal loan application, visit the official website of your loan provider, select the ‘Contact Us’ option on the homepage, select the option to track your loan application. This option will lead you to the page where you can check the status of your loan application. Enter the details asked for and obtain the required information.
As a SMFG India Credit customer, you can enjoy various benefits such as:
1. Track your application status online
2. Manage your loan online through our Service Connect Portal and M-Connect app
3. Pay your EMI online digitally via NetBanking, Debit card, etc. or by signing up for the ECS / auto-debit facility.
4. Eligible borrowers can get top-up offers at preferential rates and minimal documentation
5. Reach out to us through your nearest branch if you have any issue and would like to discuss it face to face - our vast branch network spans across 22 states, 600+ towns and 60,000+ villages in India.
Become our digital loan partner and refer your family, friends and acquaintances who may be interested in availing a personal loan. Earn upto ` 20,000* per referral! Click here to know more.
A CIBIL score is a credit score used in India to assess an individual's creditworthiness. CIBIL scores range from 300 to 900, with 900 being the most desirable. A credit score of 750 and above is required to procure a personal loan to ensure a satisfactory credit history and financial discipline.
A minimum income criterion is typically set to ensure that borrowers have a certain level of financial stability and repayment capacity. The minimum monthly income for applicants based in Delhi and Mumbai to apply for a personal loan should be INR 25,000. The minimum for applicants from other parts of the country is INR 20,000.
There are no tax benefits on a personal loan. The primary purpose of a personal loan is to meet immediate financial needs, such as medical expenses, debt consolidation, travel, or any other personal expense. Since personal loans are not tied to specific purposes like home buying or education, they are not eligible for tax deductions.
One of the key benefits of personal loans is that you do not need to provide any security or collateral to apply for them. The approval of a personal loan is primarily based on factors such as your credit score, income, employment history, debt-to-income ratio, and other relevant financial information.
In a flat interest rate system, the interest is calculated on the principal amount initially borrowed, regardless of the amount you have already repaid. In a reducing interest rate system, the interest is calculated only on the outstanding loan balance after each EMI payment. At SMFG India Credit, personal loans are offered at fixed rates only.
At SMFG India Credit, we provide you with the decision on your personal loan application within minutes of applying online. It is based on factors like age, location, CIBIL score, etc. However, please note that the process may take a few days for offline applications.
Apart from interest charges, we also charge processing fees and foreclosure charges, applicable in case of prepayment or foreclosure of the loan. The interest rates and the processing fees (0% - 6% of the loan amount) comprise the total loan cost.
To get a real-time update on your personal loan application status:
Secured loans require collateral, such as property or assets, to back the loan. If the borrower defaults, the lender can seize the collateral. Unsecured loans do not require collateral but rely solely on the borrower's creditworthiness. If the borrower defaults on an unsecured loan, the lender may take legal action but cannot claim specific assets.
Yes, you can take a personal loan jointly with another individual. When you jointly apply for a personal loan, both applicants become co-borrowers and are equally responsible for repaying the loan. It may increase the total loan amount you are eligible for, as both applicants' combined income and creditworthiness are considered.
* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.
Here are some articles which could help you understand us and our products better.
View AllDurga Puja Special - Empowering Women Entrepreneurs: From Ideas to Financial Success
Durga Puja, a festival celebrated with grandeur across India, not only symbolizes the victory of…
Durga Puja Celebration In India | History, Traditions, & Facts
Durga Pooja, a vibrant and grand celebration, holds a significant place in the hearts of…
How Is Navratri Celebrated In Different Parts Of India?
Navratri celebrations are marked by intense devotion, customs, and divine festivities, which…
Best Places to Visit In India For Navratri Celebration
Navratri celebrations are a perfect blend of culture, food, dance, and divineness. This nine-…
Karwa Chauth Gift Ideas To Make Your Wife Feel Loved On This Auspicious Occasion
Karwa Chauth, a celebration of love, devotion, and the unbreakable bond between husband and wife…
What is eKYC - Meaning, Documentation, Application Process & Eligibility
In an era where everything around us is being digitized, the aspect of identification and…