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 online 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 India 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 |
Delayed EMI Payment |
2% of the overdue EMI amount (calculated on a daily basis for salaried loans) |
*The charges are subject to policy changes in SMFG India Credit India.
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 India.
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 India.
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
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
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.
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.
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.
You can avail of additional benefits like personalised pre-approved offers, better interest rates, flexible repayment tenure, and much more.
The SMFG India Credit India Personal Loan is an option that offers competitive interest rates.
Lending Partner Name |
Interest Rate Range |
Avail Laon |
30% p.a. Onwards |
||
14% p.a. Onwards |
||
15.95% p.a. Onwards |
||
18% p.a. Onwards |
||
21% p.a. Onwards |
||
15% p.a. Onwards |
||
10.99% p.a. Onwards |
||
11% p.a. Onwards |
||
16% p.a. Onwards |
||
24% p.a. Onwards |
||
14.50% p.a. Onwards |
||
14% p.a. Onwards |
||
9.99% p.a. Onwards |
||
2% p.m. Onwards |
||
12% p.a. Onwards |
||
1.5% p.m. Onwards |
||
10.99% p.a. Onwards |
Disclaimer: The above interest rate and loan amount are subject to change at the lender’s discretion.
Applying for a SMFG India Credit India Personal Loan online on Bajaj Markets is very simple. Follow these steps and get your loan instantly!
Fill in your personal and employment details
From the list of loan offers, select SMFG India Credit Personal Loan to move ahead.
Select your preferred SMFG India Credit India Personal Loan amount and repayment tenure.
Upload the scanned copies of all the required documents.
Submit your application and post the approval and verification check; you will get money in your account in 24 hours
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 Fullerton India 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 Fullerton India 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.