Avail Instant Personal Loans ✓ Loan up to 25 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Apply Now

Fullerton India is now SMFG India Credit!

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.

SMFG India Credit Personal Loan Interest Rate

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. 

SMFG India Credit Personal Loan Processing Fees and Charges

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 24% per annum on the overdue amount 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.

SMFG India Credit Personal Loan Special Rates for Salaried Individuals

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. 

SMFG India Credit Personal Loans: Eligibility & Documents

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

  • 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. 

Calculate your EMI for SMFG India Credit Personal Loan

Loan Amount
Tenure
  • Months
  • Years
Rate of Interest
%

Monthly EMI

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest
Year Principal Interest Balance

Estimating your EMI amount before you avail a SMFG India Credit Personal Loan is essential in ensuring that the repayment stays within your budget. With the help of a personal loan EMI calculator, you can know that and optimise your loan accordingly. 

You can calculate the Personal Loan EMI using SMFG India Credit Personal Loan EMI Calculator. It is really simple to use the calculator and understand how much you need to pay every month.

  • Select your required loan amount. The maximum loan amount you can select is ₹25 Lakhs.

  • Then choose the repayment tenure anywhere between 12 to 60 months.

 

  • Choose the applicable SMFG India Credit Personal Loan interest rate.

 

 

Once you submit these details, the calculator will display the estimated monthly repayment amount and total interest rate. This allows you to optimise your loan and compare offers to choose the best one.

 

You can even do manual calculations with the help of this formula: 

 

Equated Monthly Instalment = [P x R x (1+R) ^N]/[(1+R)^N-1]

Here,

 

  • P refers to the principal amount

  • R refers to the interest rate

 

  • N refers to the number of monthly instalments payable

 

 

However, do note that manual calculations can be time-consuming and prone to errors. On the other hand, the online calculator gives accurate estimates in a matter of seconds.

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 account in a matter of hours.

Additional benefits for customers

You can avail of additional benefits like personalised pre-approved offers, better interest rates, flexible repayment tenure, and much more.

Know How to Use a SMFG India Credit Personal Loan

SMFG India Credit personal loan offers a range of benefits that can help you easily meet your requirements. From greater loan amounts of up to ₹25 Lakhs, to attractive interest rates to flexible repayment tenures, SMFG India Credit strives to provide convenience to its customers. 

Here are the ways in which you can use a SMFG India Credit Personal Loan

1.Pay for trips: 

Use the sanction you get to fund a vacation, family trip, or even a business trip, both domestically and internationally. You can use the holiday loan funds to book tickets and accommodation, and handle any other ancillary expenses related to travel. 

2. Host a wedding: 

Weddings are costly undertakings and there are a wide range of expenses to handle. With a SMFG India Credit India Personal Loan, you can pay vendors, book a venue, purchase jewellery, and more without any hassles. 

3. Handle emergencies: 

Medical emergencies, or any other kind, often require a large amount of funding quickly. You may not have enough savings, and in such circumstances, this loan can come in handy. You can get it online, and have the full sum disbursed to you without any delays

 

These examples highlight the freedom you enjoy with this loan, and the fact that there are no restrictions whatsoever. 

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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.

  • Specify Personal Loan Details

    Select your preferred SMFG India Credit Personal Loan amount and repayment tenure.

  • Upload the Documents

    Upload the scanned copies of all the required documents.

  • Approval & Disbursal

    Submit your application and post the approval and verification check; you will get money in your account in 24 hours

personal loan

SMFG India Credit Customer Care Details

SMFG India Credit ensures that it provides a best-in-class experience to you and so the customer support team is available 24x7. You can visit SMFG India Credit ‘Contact Us’ section and drop in your query along with your name, mobile number, nature of the query, etc. and submit it.

You can also give a call to the toll-free number 1800 103 6001 or drop an email to namaste@smfgindia.com for any complaint, query or to raise a service request. The representatives will get in touch with you and help resolve your query as soon as possible.

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FAQs on SMFG India Credit Personal 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.

 

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

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.

 

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.

 

Yes, you can avail of a loan from SMFG India Credit if you are self-employed.

 

The repayment tenure starts at 12 months and goes up to 60 months.

 

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.

 

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.

 

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