Regulated NBFCSalaried Employeesunsecured

SMFG India Credit Personal Loan

एसएमएफजी इंडिया क्रेडिट पर्सनल लोन

SMFG India Credit personal loan up to ₹30 Lakhs with extensive Tier 2/3 branch network.

Max Loan Amount

₹50,000 to ₹30,00,000

Interest Rate

11.99% - 28.00% p.a. (risk-grade fixed)

Tenure

12 to 60 months

Processing Fee

Up to 3.50% of loan amount + GST

✦ What It Is: Product Architecture & Regulatory Scope

SMFG India Credit (formerly Fullerton India) offers unsecured personal loans for salaried employees and self-employed individuals across Tier-1, Tier-2, and Tier-3 locations.

What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Extra Charges

Eligo consumer protection notice: Bank brochures, DSA telecallers, and comparison portals rarely disclose these conditions. Read carefully before signing.

• Foreclosure lock-in of 6 full months. • Steep foreclosure fee of up to 5% + GST on outstanding principal. • High interest rates up to 28% for lower credit score brackets. • Mandatory salary credit verification.

✦ Key Benefits & Features

• High loan quantum up to ₹30 Lakhs without pledging assets • Deep presence across semi-urban and rural areas • Fast digital processing via SMFG India Credit app • Doorstep document pickup service available.

✦ Prepayment, Part-Payment & Foreclosure Rules

Prepayment allowed after 6 months; foreclosure fee of 4% to 5% + GST applies.

✦ Eligibility Requirements

Salaried corporate employees with minimum 1 year total work experience. Min Age: 21, Max Age: 60. Min Net Monthly Salary: ₹20,000 (Metro) / ₹15,000 (Non-metro). Min CIBIL: 700.

Min Age21 Years

Max Age60 Years

Min Monthly Income₹15,000

Min CIBIL Score700+

✦ Documents Required

• Identity & Address Proof: PAN Card, Aadhaar Card • Employment Proof: Employee ID card, appointment letter • Financial Proof: Last 3 months payslips, latest Form 16 • Bank Statement: Last 6 months bank statement showing salary credits.

✦ Exact How-To-Apply Process (3 Pathways)

Depending on your current relationship with the bank, select the corresponding application journey:

Pathway A

Existing / Pre-Approved Customers

1. Open SMFG India Credit App > Personal Loan banner. Select amount and e-sign.

Pathway B

New Online Applicant (Fresh Digital)

1. Visit smfgindiacredit.com > Personal Loans. Submit mobile number, PAN, and link bank statement via Account Aggregator.

Pathway C

Branch Walk-In Application

1. Visit nearest SMFG India Credit branch with 3 months salary slips, Form 16, and bank statements.

Official Sourcing & MITC Verification

180-Day Re-Verification SLA · Last Verified: 2026-09-28

Eligo does not collect personal loan applications, sell user data to DSA telecallers, or receive affiliate commissions. All terms shown are extracted directly from official bank circulars, Most Important Terms and Conditions (MITC), and Key Fact Statements (KFS) under RBI guidelines.

Visit Official Lender Portal (SMFG India Credit Official Portal)View Official MITC / Schedule of Charges RBI Key Fact Statement (KFS) Reference

Frequently Asked Questions on SMFG India Credit Personal Loan

What is the maximum loan limit in SMFG India Credit?

Up to ₹30 Lakhs depending on your net monthly salary and credit score.

What is the foreclosure charge?

4% to 5% plus GST on the principal outstanding after the initial 6-month lock-in period.

Can borrowers from non-metro cities apply?

Yes, SMFG India Credit specializes in catering to Tier-2, Tier-3, and rural borrowers.