SMFG Personal Loan

Below are the key details of the SMFG India or Fullerton Personal Loan:

The interest rates and charges involved in acquiring a Fullerton loan are as follows:

• Interest rate: Starting from 13.00% p.a.
• Processing fee: Up to 5% of the sanctioned loan amount + GST. 
• Prepayment charges: 0% to 7%
• Loan cancellation charges: ₹1,000 + GST (before 1st EMI).
• Cheque/ ECS/ NACH direct debit dishonour charges: ₹500 + GST per Cheque/ ECS/ NACH presentation dishonour.
• Late payment charges: Up to 2% p.m. (24% p.a.) on overdue amount.
• Cash/cheque collection: Nil.
• Repayment instrument swap charges: ₹500 + GST per instance.

Below are the key features and benefits of the SMFG personal loan:

• High loan amount up to ₹30 Lakhs to cover all your big expenses.
• Flexible tenure ranging from 12 to 60 months.
• Affordable interest rate starting from just 13.00% p.a.
• 100% paperless process that can be completed easily online.
• Collateral-free personal loans for all your needs.
• Funds can be utilised for various purposes, including wedding arrangements, home improvement, business needs of self-employed, family vacations, medical emergencies, educational purposes, or debt consolidation.
• Existing customers with a strong repayment history can get an instant personal loan at concessional interest rates. 
• Prompt funds disbursal upon final loan approval.

Below is the comparison of the SMFG personal loan with other lenders:

The following are the basic eligibility criteria required for the SMFG India personal loan:

• Age: 21 to 65 years for salaried and 25 to 65 years for self-employed individuals.
• Nationality: Must be a resident citizen of India.
• Employment: Salaried as well as self-employed individuals.
• Minimum income for salaried individuals: A monthly income of at least ₹25,000 in Mumbai. Delhi, and at least ₹16,000 per month in other Indian cities. 
• Minimum income for self-employed individuals: Minimum annual return based on the industry or profession. 
• Work experience: Minimum 1 year of overall work experience for salaried and an operating business from at least the last 3 years for self-employed individuals.
• Credit score: At least 700 or above with a strong credit history.

You will need the documents mentioned below to apply for the SMFG personal loan:

Documents for Salaried Individuals:

• Application Form: Completed and signed
• PAN Card/ Form 60: Of the applicant and co-applicant (if any)
• Identity & Address Proof: Aadhaar Card/ Passport/ Driving License/ Voter ID Card issued by the Election Commission of India/ Job Card issued by MNREGA & duly signed by a State Government Officer/ Letter issued by the National Population Register with name & address details/ Utility Bills
• Signature Proof: PAN Card or Passport
• Bank Statements: For the last 6 months
• Income Documents: Last 3 months’ Salary Slips, and Income Tax Returns (ITR)/ Form 16

Documents for Self-employed Individuals:

• Application Form: Completed and signed.
• PAN Card/ Form 60: Of the applicant and co-applicant (if any).
• Identity & Address Proof: Aadhaar Card/ Passport/ Driving License/ Voter ID Card issued by the Election Commission of India/ Job Card issued by MNREGA & duly signed by a State Government Officer/ Letter issued by the National Population Register with name & address details/ Utility Bills.
• Signature Proof: PAN Card or Passport
• Bank Statements: For the last 6 months
• Business Proof: GST Number/ Registration Certificate/ License
• Income Documents: Balance Sheet, Profit & Loss Account, Income Computation of last 2 years, last 2 years’ ITR, Income Tax Assessment/ Clearance Certificate, Income Tax Challans/ TDS Certificate (Form 16A)/ Form 26AS for income declared in ITR
• Financial Statements/ (CA certified)

You can apply for an SMFG personal loan instantly by following the 4 easy steps mentioned below:

• Validate your mobile number: Enter personal details, such as your name, PAN number, and employment type (salaried/self-employed), and verify your mobile number with an OTP.
• Fill in some basic details: Provide some basic details, such as your monthly income and current financial obligations.
• Choose the preferred offer: Based on some basic criteria (such as your income, existing debt, credit score, etc.), you will be given an offer. Select your preference as per your needs.
• KYC completion & submission of form: Complete the digital KYC process. Depending on SMFG’s policy, you may be required to upload a few more documents. Submit your application and wait for the decision.

You can contact the SMFG personal loan customer care team in the following ways: 

• Call on toll-free number: 1800 103 6001 (from 9.00 a.m. to 7.00 p.m., Monday to Saturday, excluding public holidays & fourth Saturday of every month) 
• Send an email to: namaste@smfgindia.com.