SMFG India Credit Business Loan Details

Loan AmountUp to Rs. 50 Lakhs
Tenure12 – 60 months
Rate of Interest17% - 21% p.a.
Processing FeeUp to 6.5% of loan amount
TypesShop Loan, Working Capital Loan, MSME/SME Loan, GECL, Machinery Loan, and Startup Business Loan
TATWithin 24 hours of approval
Minimum TurnoverRs. 10 Lakhs
Age22 years & above

SMFG India Credit Business Loan Features

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

  • A wide range of business loan products are 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 the 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 available for businesses with turnover more than 30 Crores.
  • Finance available for medium-term working capital requirements.
  • Attractive and reasonable interest rates starting from just 17% p.a.

Why Choose SMFG India Business Loan?

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 Business Loan Interest Rates

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 17% to 21% 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.

SMFG India Credit Business Loan EMI Calculation

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 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:

YearOpening BalanceAmount Paid by Customer (EMI*12)Interest Paid During the YearPrincipal Paid During the YearClosing Balance
1stRs. 50,00,000Rs. 14,91,155Rs. 7,97,607Rs. 6,93,547Rs. 43,06,453
2ndRs. 43,06,453Rs. 14,91,155Rs. 6,70,070Rs. 8,21,085Rs. 34,85,368
3rdRs. 34,85,368Rs. 14,91,155Rs. 5,19,079Rs. 9,72,075Rs. 25,13,293
4thRs. 25,13,293Rs. 14,91,155Rs. 3,40,322Rs. 11,50,832Rs. 13,62,461
5thRs. 13,62,461Rs. 14,91,155Rs. 1,28,694Rs. 13,62,461Rs. 0

SMFG India Business Loan Types

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

Business Loan for Self-employed

Loan ParameterDetails
  • Minimum age: 27 years (relaxation of 2 years for non-professionals)
  • Maximum age: 65 years at maturity of the loan
  • Business turnover: Between Rs. 10 Lakhs and Rs. 100 Crores
  • The business should show a profit for the last two years
  • IT returns should reflect taxable income exceeding Rs. 2 Lakhs per annum
Nature of FacilityTerm Loan
Loan PurposeMeet working capital requirements and other short-term or medium-term business requirements
Loan quantumMaximum amount Rs. 50 Lakhs
CollateralNo collateral
Repayment ScheduleEMI for a maximum of 48 months
Processing FeeUp to 6.5% of the loan amount

Business Loan for Women

Loan ParameterDetails
  • Women beneficiaries who are self-employed can avail of this unique facility
  • All other eligibility norms are the same as applicable for general Business Loans
Nature of facilityTerm Loan
Loan purposeStart a new business venture or improve current business activity
Loan quantumMaximum amount Rs. 50 Lakhs
CollateralNo collateral
Repayment scheduleEMI for a period ranging between 12 and 48 months
Rate of interestConcessional rates of interest applicable to women beneficiaries
Processing feeUp to 6.5% of the loan amount
Other facilitiesInsurance cover available for the loan amount

Business Loan for Doctors

Loan ParameterDetails
  • Minimum age requirement is 27 years with the maximum age not exceeding 65 years at loan maturity
  • Practising medical professional
Nature of facilityTerm Loan
Loan purpose
  • Set up own clinic or upgrade existing one
  • Purchase medical equipment
  • Other financial needs related to medical practice
Loan quantumMaximum amount Rs. 35 Lakhs
CollateralCollateral is not necessary
Repayment scheduleEMI with a repayment tenure varying from 12 to 48 months
Processing feeUp to 6.5% of the loan amount

Business Loan for Chartered Accountants

Loan ParameterDetails
  • Practising chartered accountant
  • Minimum age should be 27 years with a maximum of 65 years at the time of maturity
Nature of facilityTerm Loan
Loan purposeWorking capital loan to extend office premises and purchase office equipment
Loan quantumMaximum amount Rs. 50 Lakhs
CollateralNo collateral
Repayment scheduleEMI ranging from 12 to 48 months depending on your preference
Processing feeUp to 6.5% of the loan amount

Growing Enterprise Loan

Loan ParameterDetails
  • Existing and new customers are eligible
  • Minimum age 27 years
  • Maximum age 65 years at maturity
Nature of facilityTerm Loan
Loan PurposeShort-term business requirements of growing enterprises
Loan quantum
  • Minimum: Rs. 50,000
  • Maximum: Rs. 2,50,000
SecurityHypothecation of articles purchased
CollateralTwo guarantors with net individual worth twice the loan amount
Additional documents
  • KYC documents, income proof, and photographs of guarantors
  • Income proof: IT return, financial statements, sales tax return of borrower
  • Quotation for articles to be purchased
Other facilities
  • No income documents for loans up to Rs. 1,50,000
  • Doorstep Cash repayment facility available
  • No post-dated cheque required

Loan for Commercial Vehicle

Loan ParameterDetails
EligibilitySelf-employed person involved in transport business
Nature of facilityTerm Loan
Loan purpose
  • Purchase of transport vehicle including light commercial vehicles
  • Purchase of heavy vehicles like trucks or tippers
  • Purchase of second-hand commercial vehicle
  • Refinance of a commercial vehicle already purchased
  • Repurchase of commercial vehicle
Loan quantumMinimum loan amount is Rs. 1 Lakh
SecurityHypothecation of vehicle
Repayment scheduleConvenient EMIs
Processing feeUp to 2% of the loan amount

Solidarity Group Loan

Loan ParameterDetails
  • Available to women beneficiaries belonging to self-help groups
  • Minimum two groups required
  • Minimum number of members in each group should be 3 with a maximum of 6.
Nature of facilityTerm Loan
Loan purposeMeet any business requirement like setting up a small shop or do other business activities
Loan quantum
  • Minimum amount: Rs. 22,000
  • Maximum amount: Rs. 45,000
  • Top up facility available for amounts ranging from Rs. 4,000 to Rs. 7,000
CollateralNo Collateral
Repayment schedule18 to 24 months

Samriddhi Loan

Loan ParameterDetails
  • Available only to customers who have availed Solidarity Group Loan
  • Should have a healthy record of repayment
Nature of facilityTerm Loan
Loan purposeContinue meeting business requirements
Loan quantum
  • Minimum: Rs. 35,000
  • Maximum: Rs. 75,000
CollateralNo collateral
Repayment scheduleEMI for a period ranging between 12 and 36 months
Other benefits
  • Pre-approved loan up to Rs. 60,000 available for borrowers with a good repayment track record
  • Loan available over the telephone

Documents Required for SMFG Business 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 of 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 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 business
  • Digital copies of the documents are necessary for uploading online after completing the loan application formalities.

SMFG India Credit Business Loan Eligibility

The eligibility norms are different for each loan depending upon 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 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 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.

How to Apply for SMFG India Credit Limited Business Loan?

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.

SMFG Business Loan Charges

Fees TypeApplicable charges
Processing feesUp to 6.5% of the loan amount
Additional interest for payment default24% p.a. on outstanding balance
Foreclosure charges (allowed after 6 EMIs)0% to 7% depending on the date of the foreclosure.
Dishonour of cheque or ECSRs. 300 per presentation
Swapping charge from PDC to ECSRs. 500 per instance
Swapping charge from ECS to ECSRs. 500 per instance
Cancellation of loanRs. 1,000

SMFG India Business Loan Customer Care

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.

View and improve your credit score - for free.

Know how good your score is

Get insights on how to improve it

Unlock offers as per your score

chart_15f235bf64 (1).svg

The best offers from India’s most
trusted banks


Business Loan Offers

Get Kotak Mahindra Bank Business Loan up to Rs. 2 Crore online at interest rate starting from 16% p.a.

SMFG India Credit Limited Business Loan FAQs

Is SMFG India Credit Business Loan available for starting a new business?


Yes, SMFG India Business Loans are available for starting new businesses. Existing business entities can also avail these loans to improve their presence in the market.

Are there any eligibility criteria for existing business concerns?


SMFG stipulates that existing business concerns should have a minimum annual turnover of 10 Lakhs and up to 100 Crores. Business entities with an annual turnover exceeding 30 Crores can opt for loans under the SME Loans category.

What is the age eligibility criterion for availing SMFG India Business Loans?


The minimum age requirement is 27 years. If you are a non-professional self-employed person, there is a relaxation of two years. The maximum age at maturity of the loan should not be more than 65 years.

What is the maximum amount of Business Loan available at SMFG India?


The maximum loan available at SMFG India Credit Business Loans is 50 Lakhs.

What are the different avenues of repayment available?


SMFG India Credit offers term loans repayable by EMIs. The different methods to pay your EMI are through PDCs and ECS. Facilities to make online payment are also available. SMFG India offers facilities to collect cash or cheques from your doorstep.

Is there any collateral for SMFG Business Loans?


No, SMFG India offers collateral-free Business Loans.

Is prepayment or foreclosure of SMFG India Credit Business Loans available?


Yes, borrowers can prepay or foreclose Business Loans in part and full depending on their choice.

Do existing SMFG India Credit customers get any additional benefits?


Yes, existing customers with good repayment records get additional benefits in the form of interest concession and pre-approved loan offers. 

How do I benefit from prepaying my SMFG India Business Loan?


You end up saving on the interest component. Use the Business Loan Prepayment Calculator available on our site to determine the benefits of prepaying your SMFG Business Loan.