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Top-up your loan quickly with SMFG India Credit’s facility.
SMFG India Credit offers top-up personal loans that let you access extra funds. With a smooth process and minimal paperwork, you can consolidate or extend your financing in one go.
The facility comes with flexible repayment options and quick disbursal, making it an efficient solution for unexpected expenses or planned needs.
An SMFG India Credit personal top-up loan provides additional funds over your existing personal loan, offering a practical solution for urgent or planned expenses.
With a good credit score and a strong repayment history, getting a top-up loan from SMFG India Credit can be quick and hassle-free.
Here are the SMFG India Credit top-up personal loan interest rate and tenure, on Bajaj Markets.
Particular |
Details |
|---|---|
Interest Rate |
Starting at 12% p.a. |
Maximum Amount |
₹25 Lakhs |
Maximum Tenure |
60 Months |
*Disclaimer: The mentioned details are subject to change at the lender's discretion.
The table below showcases the SMFG India credit top-up loan interest rate, processing fee, and other charges for the SMFG India Credit top-up loan on Bajaj Markets.
Charges |
Details |
|---|---|
Interest Rate |
Starting at 12% p.a. |
Processing Fee |
Up to 6% of the loan amount + GST |
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 |
*Disclaimer: The mentioned details are subject to change at the lender's discretion.
If you already have a personal loan and need extra funds, a top-up loan can be a smart and convenient choice. It offers several advantages, making it an easy option for additional financial support.
Like your original personal loan, a top-up loan is unsecured. You can access more funds without risking your assets.
Lenders do not restrict how you use a top-up loan. You don’t need to explain the purpose, making it a flexible solution for expenses like medical bills, education, or home repairs.
You can borrow a higher amount through a top-up loan, within the lender’s approved limit. This helps manage bigger expenses without taking multiple loans.
Timely repayments on your top-up loan can improve your credit score. A better score makes it easier to get future loans on favourable terms.
The top-up loan process requires very few documents. If you already have an active personal loan, approvals are quicker and hassle-free.
The eligibility criteria for a top-up loan are similar to the loan. Here are the eligibility criteria for the loan SMFG India Credit top-up:
You should be between 21 and 60 years of age
You need to be a salaried employee working in either a private limited company or a public sector organisation
Your minimum monthly income must be ₹25,000 if living in Mumbai or Delhi and ₹20,000 if residing in any other city in India
You must have at least one year of total work experience with a minimum of six months in your current job if salaried
A minimum credit score or CIBIL score of 750 is required
You need to provide identity, address, income, and business proof for the SMFG India Credit top-up loan. Here is a table showcasing the documents in detail:
Document Type |
Examples |
|---|---|
Application form |
Duly filled and signed |
Proof of Identity |
Aadhaar Card, PAN Card, Voter ID |
Proof of Address |
Passport, Driving License, Utility Bills |
Proof of Age |
Birth certificate, Passport, PAN Card |
Salary Slips |
Last three months’ salary slips |
Bank Statement |
Last six months’ bank statement |
Income Proof |
Income Tax Returns or Form 16 |
*Disclaimer: The mentioned details are subject to change at the lender's discretion.
You can use various methods for applying for a SMFG India Credit top-up personal loan. Some of the ways are listed below:
Log in to the app using your credentials
Locate the Need Top-Up Loan option
Choose the amount you want to top up and submit your request
Upload documents if needed
Once approved, you will receive confirmation through app notifications
Visit SMFG India Credit's website and log in to Service Connect as an existing customer
Go to “Disbursement / Loan-related” in the request dropdown
Select “Need a top-up loan”, enter the required top-up amount, and submit
Provide any additional information
Monitor status through portal notifications or email updates
Visit your nearest SMFG India Credit branch
Speak with a customer service representative for a top-up loan
Fill out the top-up application form
Submit documentation if needed
Receive approval and get the loan amount
You can transfer your personal loan to SMFG India Credit by using the following methods:
Use the Transfer Calculator: Visit the official website and use the calculator to check how much you can save by transferring your existing loan.
Apply Online: Click “Apply Now” and enter your mobile number.
Verify with the OTP sent to your number and begin the application.
Upload Documents: Provide KYC, income proof, existing loan statement, and NOC from your current lender.
Track Progress: Once submitted, an SMFG executive will follow up with you. You can track your application status through email or SMS updates.
Call SMFG Toll-Free: Dial the toll-free customer care number - 1800-103-6001.
Request Balance Transfer: Inform the executive that you’d like to transfer your personal loan.
Visit Your Nearest Branch: Visit the nearby SMFG branch.
Ask for a Balance Transfer Application: Talk to a customer relationship executive and request help with a personal loan balance transfer.
Submit Physical Documents: Provide KYC, latest salary slips, bank statements, and a foreclosure letter/NOC from your current lender.
A top-up loan and a personal loan are two practical financing options offered by SMFG India Credit when you need extra funds. Both provide quick access to money without the need for collateral. Here is a simple comparison to explain top-up loan vs personal loan:
Loan Purpose
A top-up loan is for existing SMFG India Credit customers who already have a personal loan. It allows you to borrow extra funds without taking a new loan.
A personal loan is a fresh loan for anyone who meets the eligibility criteria. It is suitable for expenses such as weddings, travel, or medical emergencies.
Costs and Interest Rates
Top-up loans usually come with slightly lower interest rates. This is because lenders reward responsible repayment behaviour. Personal loans may have higher rates, especially for first-time borrowers.
Loan Tenure and Repayment
A top-up loan often follows the same repayment period as the existing loan or may be slightly extended. Personal loans offer more flexibility with tenures ranging up to 60 months.
Flexibility and Features
Top-up loans help you avoid managing multiple loans. You can take them more than once during your existing loan tenure if eligible. Personal loans provide broader usage flexibility and suit first-time borrowers or those looking to consolidate debts.
Only existing SMFG India Credit customers with an active personal loan or home loan are eligible for a top-up loan. Eligibility also depends on factors such as your credit score, repayment history, and income.
Yes, you can apply for a top-up loan on your existing SMFG India Credit personal loan if you meet the basic criteria. This includes having a good credit score, a clean repayment record, and stable income.
You can transfer your existing personal loan from another lender to SMFG through a balance transfer and then apply for a top-up loan.
SMFG India Credit may offer a top-up loan even if you have multiple existing loans. Approval depends on your credit score, repayment history, income, and the lender’s internal policies.
Yes, SMFG India Credit allows full prepayment or foreclosure of top-up loans. You need to pay the entire outstanding amount along with applicable charges, which can be up to 7% of the outstanding principal. Partial prepayments are not accepted.
You can get a top-up loan of up to ₹25 Lakhs from SMFG India Credit. The final amount depends on your existing loan, credit score, repayment history, income, and the lender’s policies.
Yes, SMFG India Credit charges a processing fee of up to 6% of the loan amount plus GST for top-up loans.
Taking a top-up loan may lead to an increase in your EMI or loan tenure. While top-up loans often come with better rates than new loans, it is important to ensure you can manage the higher repayment comfortably.
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