SMFG Business Loan

SMFG India business loans come with various attractive features and benefits, such as:

• A wide range of business loan products is available.
• Business entities do not have to hypothecate any of their assets or offer additional collateral.
• SMFG provides business enterprises with the facility to apply for a loan online.
• Check your eligibility online using the business Loan eligibility/EMI calculator.
• Get up to a maximum of Rs. 50 Lakhs to meet your business requirements, like working capital and procuring fixed assets necessary for the business.
• SMFG India Credit Business Loans are renowned for their flexibility in tenure. You can repay the loan in up to 20 years.
• Attractive SME loan solutions are available for businesses with a turnover of more than 30 Crores.
• Finance is available for medium-term working capital requirements.

Choosing SMFG Business Loans has the following benefits:

• Avail the benefit of easy repayment schedules and a variety of repayment options such as ECS, post-dated cheques, and online payment.
• SMFG India Credit permits prepayment of the Business Loan at any time during its tenure.
• SMFG India covers more than 58,000 villages and 600 towns in India with its vast network of 616 branches and a dedicated workforce of more than 12,000 employees.
• Simple documentation procedure.
• Quick sanctions and disbursals.
• No need for collateral.
• Online loan tracking.
• Easy repayment options.
• Easy eligibility norms.
• Existing borrowers get additional benefits.

SMFG India business loan interest rates are linked to the FICCL retail prime lending rate (RPLR). Current rates of interest applicable to SMFG India Credit Business Loans are in the range of 13.00% to 33% p.a. The interest rates depend on various factors such as net income, business stability, location, collateral provided (for secured loans), existing monthly obligations, and so on.

You can access our Business Loan EMI Calculator given under Financial Tools on our website. Enter some details on the calculator, such as the required loan amount, tenure, and rate of interest, to get the EMI calculation instantly. The calculator also provides a complete amortization schedule.

Here is an example of EMI calculation using the MyMoneyMantra EMI Calculator:

• Loan amount required: Rs. 50 Lakhs
• Applicable rate of interest: 17% p.a.
• Repayment tenure: 5 years
• EMI to be paid by you each month: Rs. 1,24,263
• Total interest to be paid: Rs. 24,55,773
• Total amount to be paid by you to the lender: Rs. 74,55,773

Our EMI Calculator also provides the following amortization schedule:

SMFG India Credit offers a variety of Business Loans depending on the business activity.

Business Loan for Self-employed

Business Loan for Women

Business Loan for Doctors

Business Loan for Chartered Accountants

Growing Enterprise Loan

Loan for Commercial Vehicle

Solidarity Group Loan

Samriddhi Loan

The documents necessary when applying for an SMFG India Credit Business Loan are as follows:

• The loan application form was completed in all respects, along with a recent photograph
• Identity proof documents can be any one ofthe Passport, Voter ID Card, PAN Card, or Driving Licence.
• Proof of address (any one of them): Ration Card, Electricity Bill, Telephone Bill, Rental Agreement, copy of Passport, Driving Licence, or bank passbook/statement.
• Proof of age (one of the listed documents): PAN Card, Passport, or certificate issued by a statutory authority.
• Bank account statements for the previous two quarters or the last three months' salary slips
• Form 16
• IT Returns for the last three years
• One signed a cheque for payment of the processing fee
• Additional documents required for Business Loans
• Profit and Loss Statements and Balance Sheet for the previous three years
• Proof of the existence of a business
• Digital copies of the documents are necessary for uploading online after completing the loan application formalities.

The eligibility norms are different for each loan depending on the product and nature of the facility. However, some of the common factors concerning eligibility are as follows:

• Proprietors, self-employed individuals, partnership firms, and private limited companies that are working in the trading, manufacturing, and service sectors are eligible.
• The minimum age of a borrower is 22 years, whereas the borrower should not be more than 65 years old at the time of the maturity of the loan.
• Individuals should be engaged in business for at least 3 years in the current business and must have a total of 5 years of experience.
• The annual turnover for a running business should be at least Rs. 10 Lakhs
• Enterprises should be making a profit for at least the last 2 years.
• Enterprises must have a minimum annual income (as per ITR) of at least Rs. 2 Lakhs.

Follow the steps below to apply for an SMFG business loan through MyMoneyMantra:

• Visit our website and Select the Business Loan option from the Loans tab.
• Enter the required details like your name, age, the amount of loan, income, location, etc.
• Share your mobile number and email details.
• We will send an OTP to your mobile number, and enter it at the appropriate location to access the business loan products page.
• A new page will open where you can compare the various business loan products of different banks including SMFG India.
• Our relationship managers will call you to assist you further.
• Keep the required documents ready to make the loan processing easy and fast.

Various avenues for contacting SMFG India business loan customer care are available:

• Toll-Free No: 1800-103-6001 available between 9 am and 7 pm on all working days except Sundays and public holidays.
• Email: namaste@fullertonindia.com.
• Post: PO Box No 8108, Bandra East, Mumbai 400051.
• Registered Office: 3rd Floor, 165, Megh Towers, PH Road, Maduravoyal, Chennai 600095.
• Corporate Office: Supreme Business Park, Floors 5 and 6, B-Wing, Powai, Mumbai 400076.
• Know the status of the online application: Give a missed call to 9594763763 to get a call back within 24 hours.
• Escalation of your complaints is possible by sending an email to: ccrc@fullertonindia.com and further to escalation@fullertonindia.com.