Instant Personal Loan Online – Up to ₹10 Lakh at 12%* p.a.

At SMFG India Credit, the maximum personal loan amount you can avail of is up to INR 10 lakhs*, depending on your eligibility and creditworthiness.

To apply for an SMFG India Credit personal loan, your minimum income should be at least Rs. 25,001* per month. For self-employed individuals, the income requirement is per the minimum annual turnover or yearly profit after taxes, depending on the industry or profession.

At SMFG India Credit, we prioritise swift loan processing. However, the exact approval time will depend on your eligibility and the accuracy of the submitted documents.

Applying for a personal loan online offers the convenience to fill out the application form from your home, eliminates heavy paperwork, and enables quicker loan processing.

You can repay a personal loan through EMIs via various methods, such as debit cards or internet banking.

The below documents are required:

• Duly signed and completed application form
• Identity proof (such as Aadhaar or PAN card)
• Address proof (such as utility bills or passport)
• Signature proof (such as a passport or PAN card)
• For salaried individuals:
  • Bank statements for the last 12 months
  • Income tax returns or Form 16
• For self-employed:
  • Business proof (such as a licence or GST registration)
  • Income proof (such as financial statements or Income Tax assessment certificate)

You can check the complete list of the required documents here.

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:

• 7% after full payment of 0 to 17 EMIs
• 5% after full payment of 18 to 23 EMIs
• 3% after full payment of 24 to 35 EMIs, and
• 0% after full payment of 36 or more EMIs

You can repay overdue amounts via various online methods such as debit cards or internet banking, depending on your lender’s policy. Late payment charges may also apply.

The loan tenure ranges from 12 to 60 months, with loan amounts between INR 1 lakh and INR 10 lakh*, depending on eligibility.

At SMFG India Credit, interest rates for personal loans start at 12%* per annum. Please note that the final rate will depend on several factors, including your eligibility, creditworthiness, and our policy at the time of loan application.

If your personal loan gets rejected, review your credit report to identify issues, improve your credit score, reduce existing debt, and ensure you submit error-free documents. Reach out to your lender to get more clarification on the reason for the rejection.

Personal loan eligibility is determined by several factors such as age, income, credit score, and so on. You can check the complete list of eligibility requirements.

At SMFG India Credit, salaried applicants need a minimum CIBIL score of 700 to apply for a personal loan. For self-employed individuals, the minimum CIBIL score is 700.

A salary is only one aspect of personal loan eligibility. The final approval and loan amount will depend on several factors such as your age, credit score, existing debts, and so on.

Yes, we offer top ups on existing personal loans. Feel free to contact us for more information.

A personal loan does not typically offer tax benefits. However, if the loan is used for specific purposes like home renovation or business investment, you may claim tax deductions under relevant sections of the Income Tax Act, subject to conditions.

No, personal loans are unsecured, meaning you don’t need to provide any security or collateral. Lenders primarily evaluate your creditworthiness, income, and financial stability to determine eligibility, making it a convenient option without the risk of asset loss.

In a flat personal loan 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.

To get a real-time update on your personal loan application status:

• You can reach us at our toll-free number 1800 103 6001.
• Give a missed call at 9594763763, and within 24 working hours, you will receive a call.
• You can also email us at [email protected]
• You can seek assistance from our chatbot.
• Download Mobile App/Login to Portal (For Existing Customers)

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.