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SMFG India Credit Personal Loan EMI Calculator

Using an EMI calculator can be a strategic step in managing your finances, when applying for an SMFG India Credit Personal Loan. This tool helps you estimate your monthly instalments based on the loan amount, interest rate, and repayment tenure.

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By understanding your EMI, you can better plan your budget and ensure that your loan repayments align with your financial capabilities. Thus, the calculator allows you to make informed decisions about your loan options and potentially plan for prepayments or foreclosure.

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Your Personal Loan EMI
₹ 55,611
Total Interest Amount
₹ 836,667
Principal Amount
₹ 2,500,000
Total Payable Amount
₹ 3,336,667
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
Months drop-down-img
  • Years
- +
Min value reached
Max value reached
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You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.

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You can also evaluate the total interest amount and overall payable amount for better financial planning and budgeting.

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The SMFG India Credit EMI Calculator allows you to explore various tenure and interest rate combinations, helping you compare EMI amounts as per your budget.

The SMFG India Credit Personal Loan EMI can be determined using the following formula:

EMI =P×r×(1+r)n(1+r)n−1

Where:

  • P: Principal loan amount

  • r: Monthly interest rate (annual rate divided by 12)

  • n: Loan tenure in months

Here is a detailed EMI calculation for a loan amount of ₹5 lakhs with an interest rate of 12%, for different tenures up to 5 years:

Loan Amount 

Tenure (Years)

Interest Rate

Total Interest Amount

EMI

₹5 Lakhs

1

12%

₹33,092.73

₹44,424.39

₹5 Lakhs

2

12%

₹64,881.67

₹23,536.74

₹5 Lakhs

3

12%

₹97,857.58

₹16,607.15

₹5 Lakhs

4

12%

₹1,32,012.05

₹13,166.92

₹5 Lakhs

5

12%

₹1,67,333.43

₹11,122.22

*Disclaimer: The above values are for illustrative purposes only. Reach out to SMFG India Credit to check the actual EMI amount payable.

SMFG India Credit Personal Loan EMI Calculator is a convenient tool that helps you analyse your loan repayments and make informed financial decisions.

Here are some benefits you get by using this calculator:

Free and Easy to Use

The Personal Loan EMI Calculator is very simple to use. You can access it anytime on any device and use it as many times as you want, completely free of cost.

Instant and Accurate EMI Estimates

Quickly determine your monthly instalments and repayment schedule with precise calculations.

No Manual Computations

Simply enter basic details, and the calculator will generate your EMI—no need for complex formulas.

Real-time Results

As and when you set the details like amount, tenure, interest rate, you get realistic results according to inputs. The results change simultaneously as you change the inputs. This saves a lot of time as compared to manual calculations.

Several factors influence the EMI of your SMFG India Credit Personal Loan. Being aware of these can help you plan your finances wisely and select a loan that suits your budget.

Here are some factors listed for your understanding:

Loan Amount

The EMI is directly linked to the loan amount. A ₹4 Lakhs loan will have a higher EMI than a ₹75,000 loan if the tenure and interest rate remain unchanged.

Interest Rate

A higher interest rate results in a higher EMI. For example, a loan with a 15% annual interest rate will have a higher EMI compared to a loan at 11%, assuming the loan amount and tenure are the same.

Loan Tenure

Opting for a longer tenure reduces the EMI but increases the total interest payable over time.

Type of Interest Rate

Fixed interest rates keep your EMI constant throughout the loan term, while floating rates vary based on market conditions, leading to possible changes in EMI amounts.

Repayment Frequency

Your repayment schedule affects how the EMI is structured. While monthly payments are the most common, some lenders offer flexible options that may impact the overall repayment plan.

You can pay your SMFG India Credit Personal Loan EMIs through various payment options such as:

  • Billdesk

  • Debit Cards

  • UPI 

Note: At present, SMFG India Credit does not support EMI payments through the PhonePe wallet. However, if you are registered on PhonePe UPI, you can make payments using the UPI option.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.

As and when you set the details like amount, tenure, interest rate, you get realistic results according to inputs. The results change simultaneously as you change the inputs. This saves a lot of time as compared to manual calculations. Also, the output i.e EMI is inclusive of all the taxes, processing charges and any other associated charges. So, you can rest assured that you get accurate value and hence manage your finances accordingly.

Frequently Asked Questions

SMFG India Credit Personal Loan
What happens if SMFG India Credit Personal Loan EMI is not paid on time?

If you miss your EMI payment on the due date, Delayed Payment Charges will apply as per the terms mentioned in the MITC (Most Important Terms and Conditions).

Partial prepayments are not allowed on SMFG India Credit personal loans. However, you can foreclose the loan after successfully paying at least 6 EMIs.

You can use the SMFG India Credit EMI Calculator to determine your EMI.

The EMI calculator provides a near-accurate estimate of your monthly EMI by factoring in the loan amount, interest rate, and tenure. However, the final EMI may vary slightly based on lender-specific terms.

Yes, the calculator allows you to input different interest rates to compare EMI options based on varying scenarios.

The starting interest rate is 12% per annum.

The "30% EMI rule" suggests that your total loan repayments—including home, car, personal loans, and credit card dues—should not exceed 30% of your gross monthly income

For a ₹20 Lakhs loan at a 12% interest rate with a tenure of 5 years, the estimated EMI would be ₹44,488.90.

Yes, SMFG India Credit is a reputable Non-Banking Financial Company (NBFC) offering a range of financial products, including personal loans, business loans, and loans against property.

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