Loan of up to ₹25 Lakhs | Instant Approval | Attractive Interest Rates
Avail Instant Personal Loans ✓ Loan up to 25 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation!
Among the many personal loans available, the SMFG India Credit Personal Loan is an affordable and accessible choice. On Bajaj Markets, you can avail of a SMFG India Credit Personal Loan of up to ₹25 Lakhs and repay it in easy EMIs over flexible repayment tenures of 60 months.
Be it hosting a wedding, planning your travel, dealing with a medical emergency or debt consolidation, a SMFG India Credit Personal Loan can help.
Instant approvals, quick disbursals, and exclusive loan offers are some of the amazing features of SMFG India Credit Personal Loan, which you can enjoy.
Here is a tabular overview of SMFG India Credit Personal loan:
SMFG India Credit Personal Loan Details |
|
Interest rate |
Starting from 12.00% per annum |
Loan Amount |
Up to ₹25 Lakhs |
Repayment Period |
Up to 60 months |
Minimum Income Required |
₹20,000 - ₹25,000 monthly, depending on the residential city |
Processing Fees |
0% - 6% of the loan amount |
Disclaimer: The rates mentioned are subject to change at the lender’s discretion.
The SMFG India Credit Personal Loan grants access to quick funds at competitive interest rates. These make it a lot easier to borrow and pay back a loan.
Here is a brief overview of the SMFG India Credit Personal Loan interest rate:
Minimum Interest Rate |
12.00% p.a. |
Maximum Interest Rate |
36.00% p.a. |
Disclaimer: The rates mentioned are subject to change at the lender’s discretion.
The interest rate you get depends on several factors, like your credit score, age, occupation, and repayment capability. Apart from this, the loan amount and tenure you choose also have an impact on the interest rates you receive.
Apart from the interest rates, some lenders levy additional fees and charges on personal loans. The charges are added to your total cost of borrowing and hence are crucial to assess before applying.
Here’s a table with processing fees and other charges associated with a personal loan from SMFG India Credit.
Processing Fee |
Between 0% - 6% of the loan amount |
Prepayment Charges |
0% to 7%* of the outstanding principal |
Late Payment Charges |
Up to 2% per month of the overdue amount calculated on day to day basis plus applicable taxes |
*The charges are subject to policy changes in SMFG India Credit.
Here is a breakdown of SMFG India Credit Personal Loan Foreclosure Charges:
Foreclosure Charges (Basis of fully paid total EMIs) |
Interest rate levied |
0 to 6 EMIs |
Foreclosure Not Allowed |
7 to 17 EMIs |
7.00% |
18 to 23 EMIs |
5.00% |
24 to 35 EMIs |
3.00% |
36 or more EMIs |
0.00% |
*The charges are subject to policy changes in SMFG India Credit.
To avail the SMFG India Credit Personal Loan interest rates specially designed for employed applicants, you must be a salaried applicant who works in a private company or public sector enterprise.
Income |
Interest Rates |
Processing Fee |
<=18K |
30% - 33% |
2% of the loan amount |
18K-25K |
27%- 30% |
2% of the loan amount |
25K-30K |
25%-29% |
2% of the loan amount |
30K-35K |
23.50% - 28% |
2% of the loan amount |
35K-40K |
22.50% - 27% |
2% of the loan amount |
40K-50K |
21% - 25% |
2% of the loan amount |
50K-80K |
20% - 24% |
2% of the loan amount |
>80K |
19% - 20% |
2% of the loan amount |
Disclaimer: The charges are subject to policy changes in SMFG India Credit.
1. SMFG India Credit Personal Loan Eligibility Criteria
You must be between 21-60 years
You must be a salaried employee in a private limited company or public sector undertaking
Your monthly income should be at least ₹25,000 if you reside in Mumbai/Delhi and ₹20,000 if residing elsewhere in India.
You should have a minimum work experience of 1 year, and 6 months experience in the current company if salaried
A credit score/CIBIL score minimum of 750 is required
2. Documents Required for SMFG India Credit Personal Loan
Duly filled and signed application form
Proof of identity - Aadhaar Card/ PAN Card/Voter ID
Proof of address - Passport/Driving License/Utility bills
Proof of age
Salary slips for the last three months
Bank statement for the last six months
- Income tax returns or form 16
Once you are certain that you are eligible, ensure that you have all the SMFG India Credit Personal Loan documents as per the requirements. This will help ensure that your application process goes seamlessly.
Features and Benefits of SMFG India Credit Personal Loan
Greater Loan amount
At Bajaj Markets, you can apply for a loan amount of up to ₹25 Lakhs. The loan amount eligibility depends on your age, net monthly income, credit score etc.
Flexible and Attractive Interest Rates
You get the best interest rates as per your requirements. The interest rates start at 12% p.a. and can go up to 36%. p.a.
Hassle-free documentation process
You can apply for a SMFG India Credit Personal Loan online with minimal documentation. All you need to do is upload soft copies of the documents required from the comfort of your home.
Quick disbursal
As instant is the approval process, the swifter is the disbursal process. Post the approval of your application and verification of all the documents and details, you can get the money in your bank acc Read Moreount in a matter of hours. Read Less
Additional benefits for customers
You can avail of additional benefits like personalised pre-approved offers, better interest rates, flexible repayment tenure, and much more.
How to Apply for SMFG India Credit Personal Loan
Applying for a SMFG India Credit Personal Loan online on Bajaj Markets is very simple. Follow these steps and get your loan instantly!
-
Online Form Filling
Fill in your personal and employment details
-
Select your Lending Partner
From the list of loan offers, select SMFG India Credit Personal Loan to move ahead.
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Specify Personal Loan Details
Select your preferred SMFG India Credit Personal Loan amount and repayment tenure.
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Upload the Documents
Upload the scanned copies of all the required documents.
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Approval & Disbursal
Submit your application and post the approval and verification check; you will get money in your account in 24 hours
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.
FAQs
How do I get a SMFG India Credit Loan?
To get a SMFG India Credit Personal Loan, you can visit the Bajaj Markets website and fill out an application form. You will need to provide relevant documents and meet the eligibility criteria. Once your application is processed and approved, the loan amount will be disbursed to your account.
What is SMFG India Credit Personal Loan eligibility?
Following is the eligibility criteria for SMFG India Credit Personal Loan:
The applicant’s age must be between 21-60 years
You must be a salaried employee in a private limited company or public sector undertaking, or a self-employed professional with minimum turnover as per policy
If salaried, the net monthly income must be 25,000 per month if residing in Mumbai/ Delhi, or 20,000 per month if residing elsewhere in India.
If self-employed, you must have earned yearly profit after tax determined based on profession/industry
Should have a minimum work experience of 1 year, and 6 months experience in the current company if salaried
CIBIL Score of minimum 750 is required
How do I repay a SMFG India Credit Personal Loan?
You can repay your SMFG India Credit personal loan through various modes, such as auto-debit, post-dated cheques, or online payments. You can set up the auto-debit facility from your bank account to ensure timely repayment. You can also pay using the SMFG India Credit website or mobile app.
How to track a SMFG India Credit Personal Loan’s status?
To track your SMFG India Credit Personal Loan status, you can visit their website and login to your account. Alternatively, you can call their customer service number and give your application details to get an update. You can also visit a Fullerton branch for assistance.
Can I avail of a loan from SMFG India Credit if I am self-employed?
Yes, you can avail of a loan from SMFG India Credit if you are self-employed.
What are the minimum and maximum tenures for which I can avail a SMFG India Credit Personal Loan?
The repayment tenure starts at 12 months and goes up to 60 months.
How much time Is taken for the SMFG India Credit Personal Loan to be approved?
The time taken for SMFG India Credit Personal Loan approval varies and can depend on several factors, such as the completeness of the application, documentation, and verification process. Typically, it can take anywhere from a few hours to a few days for loan approval and disbursal.
Does SMFG India Credit check CIBIL?
Yes, SMFG India Credit checks CIBIL scores as a part of their loan approval process. The CIBIL score is an important factor that determines your creditworthiness and helps Fullerton assess the risk associated with lending.
Can I prepay my SMFG India Credit Personal Loan?
You cannot make any part prepayments towards your personal loan from SMFG India Credit. However, you can foreclose your loan after you have paid at least 6 EMIs of your loan.
