Unsecured Loans

SMFG India Credit offers unsecured personal loans online to customers from every economic background. We support your dreams and ambitions by providing customised personal loans to meet planned or emergency expenses. At our institution, we are always on our toes to help you through your financial needs, with funds for a medical emergency, home renovation, big-ticket purchase, wedding, vacation, travel, and a lot more.

Features And Benefits

The features and benefits of unsecured loans are:

• Both salaried and self-employed individuals can apply for unsecured loans
• You can avail a loan amount of up to Rs. 25 lakhs
• For doctors, the borrowing limit is up to Rs. 30 lakhs
• Interest rate is as low as 11.99% and up to 36%
• Tenure is between 12 months and 60 months
• You can foreclose the loan after payment of the initial 6 EMIs

Interest Rates And Charges

The personal loan interest rates online starts from 11.99% for salaried borrowers. Some of the other factors that we consider to determine the rates are your net income, age, location, existing monthly obligation, employment (salaried or self-employed person), etc.

Documents Required

The list of documents required for a personal loan application includes:

• Recent passport-sized photographs
• Completed personal loan application form
• Age proof (Passport/PAN card/Certificate from a statutory authority)
• Identity proof (Driving license/voter ID card/Passport/PAN card)
• Address proof (Telephone bill/electricity bill/Passport/driving license/ration card/rental agreement/bank statement or passbook)
• Salary slips/proofs of the last 3 months or bank passbook/statement of the last 6 months
• Form 16
• Income tax returns
• Processing fee cheque

NOTE: The documents required for a personal loan may vary from a person to person depending on his/her profile and employment.

Personal Loan Eligibility Check

The eligibility criteria for unsecured loans by SMFG India Credit are listed below:

• Minimum age to apply is 21 years of age, not exceeding 65 years at the time of loan closure
• You must be a resident citizen of India to apply for unsecured personal loans online
• You must have the necessary documents required for the personal loan along with the duly filled and signed application form

For Salaried Professionals:

• You must be an employee of a public sector undertaking (central, state, or a local body) or a private limited company
• Your monthly income must be at least Rs. 25,000 if residing in Mumbai or Delhi
• Your monthly income must be at least Rs. 20,000 if residing in any other part of India

For Self Employed:

• Your yearly income should satisfy the organisation’s policy at the time of loan application. Please note that this amount is different for each person depending on other factors such as location and loan amount required
• Financial statements that show stability of income

How To Apply For An Unsecured Loan?

At SMFG India Credit, you can apply for unsecured personal loans online or offline. Walk into our nearest branch office for a free consultation and guidance regarding an ideal funding option suiting your needs. Or, you may choose to apply online and get an instant approval for funds. Remember to keep a soft-copy of documents required for personal loan ready for upload in case of an online application