Quick Personal Loans Online

Get quick personal loans online with fast approval and direct deposit of the approved funds into your account within 30 minutes*. Explore how SMFG India Credit ensures you can fulfil immediate financial needs without hassle through quick personal loans with affordable interest rates.

Apply for Quick Loan Online

If you need funds urgently, quick personal loans can be a huge help. With online application processes, these loans don't require physical documentation and you don't need to visit any lending institutions. Moreover, you do not have to pledge any collateral to secure these fast loans online, making them convenient and easier to access. Quick personal loans give you much flexibility in usage, whether you need to cover unexpected expenses, manage cash flow gaps, or fund an urgent project that need your attention. 

At SMFG India Credit, you can apply for quick loans online anytime and from anywhere. With competitive interest rates, no hidden charges, and repayment tenures of up to 60 months*, we ensure that your loan repayment stays affordable as you take care of your financial needs.

Features and Benefits of Quick Loans

Quick personal loans have become popular for individuals looking to meet various financial needs due to their attractive features and benefits. They offer a convenient and efficient way to access funds without collateral. 

Here are some key features and benefits of quick money loans:

1. Loans Up to INR 30 Lakhs*

SMFG India Credit offers personal loan amounts up to INR 30 lakhs*, which can provide significant financial support. This makes it easier to fund large expenses, such as a wedding, home renovation, or higher education.

2. Attractive Interest Rates

Our quick money loans come with competitive and attractive interest rates, making them a cost-effective option for eligible borrowers. This means lower monthly payments and overall borrowing costs.

3. 100% Paperless Application Process

The application process for quick personal loans is entirely paperless, ensuring a smooth and hassle-free experience. Applicants can quickly apply online without needing physical documents, saving both time and effort.

4. Quick Disbursal 

One of the standout features of our personal loans is the quick approval and disbursal time. Once approved, the funds are transferred to your account within 30 minutes*, providing funds when you need them the most. This feature makes quick cash loans an excellent choice for emergencies and urgent financial needs.

5. Additional Benefits for Existing Customers

Existing SMFG India Credit customers often enjoy additional benefits, such as preferential interest rates and faster processing times. These perks make accessing instant personal loans more manageable and more advantageous for existing customers with a strong repayment history.

Personal loans offer a blend of convenience, speed, and competitive rates, making them a preferred choice for many. 

Eligibility Criteria for Quick Loans

To qualify for a quick personal loan online, applicants must meet specific eligibility criteria which can vary based on the employment type. Here’s a quick overview:

Salaried Individuals

• Age: Between 22 and 65 years (not more than 65 at the time of loan maturity).
• Nationality: Must be a resident Indian.
• Credit Score: Must be 750 or above.
• Work Experience: At least 1 year of work experience, with the last 6 months under the current employer.
• Minimum Income: The minimum monthly income for residents of Mumbai or Delhi is INR 25,000, and for residents of other cities, it is INR 20,000.

Self-Employed Individuals

• Age: Between 25 and 65 years (not more than 65 at the time of loan maturity).
• Nationality: Must be a resident Indian.
• Credit Score: Must be 750 or above.
• Business Experience: Business should be at least 3 years old.
• Minimum Income: Annual turnover must meet the minimum threshold, varying by profession or domain.

*Please note that the final eligibility will depend on several factors including SMFG India Credit’s policy at the time of loan application. 

Documents Required for Quick Loans

To apply for a quick personal loan, you must have the following documents ready:

Identity Proof

• PAN Card
• Aadhaar Card
• Driver’s License
• Passport
• Voter ID

Signature Proof

• Passport
• PAN Card

Address Proof

• Aadhaar Card
• Driver’s License
• Passport Copy
• Utility Bill (Gas or Electricity)
• Voter ID
• Ration Card
• Rental Agreement

Income Proof

For Salaried

• Bank statements (last 6 months), Salary slips (last 3 months), Income Tax Returns or Form 16.

For Self-Employed 

• Bank statements (last 6 months), Balance sheet and profit/loss account, Income Tax Returns (last 2 years), IT Assessment or Clearance certificate, Income Tax challans or TDS certificate (Form 16A) or Form 26AS.

Business Proof (For Self-Employed)

• License
• Registration Certificate
• GST Number

Having these documents ready simplifies applying for fast loans online. Please note that additional documents may be required depending on your individual profile.

Interest Rates and Charges Applicable on Quick Personal Loan

When applying for a personal loan, you should be aware of the interest rates and charges applicable, as they impact the overall cost of borrowing. SMFG India Credit interest rates for personal loans start only at 13%* per annum. Other charges include late payment fees, cheque dishonour charges, swap charges, processing fees, and prepayment charges. 

Factors Affecting Quick Loan Interest Rates

The most crucial factors that influence the interest rates on quick personal loans include:

1. Your Income: A higher monthly income and lower existing obligations can secure you better interest rates on quick loans, as they indicate financial stability and a lower risk for lenders.
2. Credit Score: A high Credit score enhances your creditworthiness. Lenders are more likely to offer lower interest rates for quick money loans to individuals with excellent credit scores.
3. Your Repayment History: Keeping a clean repayment history can indicate a lesser likelihood of defaults or late payments.

Things to Note Before Taking a Quick Personal Loan

Here are a few things that you should remember before taking a quick personal loan:

1. Interest Rates: Ensure the loan has favourable interest rates that fit your budget, making it easier to manage monthly payments.
2. Fees and Charges: Carefully review all fees and charges associated with the loan. Hidden costs can make quick loans more expensive than anticipated.
3. Loan Amount and Tenure: Assess your repayment capacity before deciding on the loan amount. Choose a tenure that suits your financial situation, ensuring you can comfortably repay the loan.
4. Credit Score: Check your credit score beforehand. A higher score can qualify you for better interest rates on quick loans, provided you meet the overall eligibility criteria.

How to Apply for a Quick Personal Loan Online

When applying for a quick personal loan online with SMFG India Credit, you can follow these simple steps to complete your loan application:

1. Visit the online loan application page and enter personal details such as your PAN, DOB, and pincode.
2. Enter your mobile number accurately to receive a 6-digit OTP for verification.
3. Fill in the details related to your income, existing financial obligations, and so on.
4. You will receive a personalised offer based on criteria such as your credit score and existing debts. Select your preference.
5. For loans of up to INR 2.50 lakhs*, you will receive the approved funds in your account within 30 minutes* of approval.
6. Applications for higher loan amounts will be processed further with our representative contacting you for more information if necessary.

When Can You Get a Quick Personal Loan?

Quick personal loans are ideal for urgent financial needs like medical emergencies, home repairs, or unexpected expenses. These easy loans offer swift approval and disbursal time, providing almost immediate financial relief. However, the loan approval and amount depend upon eligibility criteria. Use our personal loan eligibility calculator to estimate how much loan amount you may qualify for.

Quick personal loans can provide a fast and dependable solution for managing both unexpected and planned expenses. With efficient online processes and competitive interest rates SMFG India Credit ensures convenient access to funds when they are needed most. In addition to a dedicated customer support team, we offer user-friendly tools like the personal loan EMI calculator to make financial planning easier. Apply today!

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