SMFG India Credit Nari Shakti Personal Loan for Women
Last Updated : Aug. 18, 2020, 4:54 p.m.
Today’s women are independent and can meet their financial needs without any support from men. And SMFG India Credit knows women’s needs that is why it provides personal loans to them. Using SMFG India Credit Nari Shakti Personal Loan for Women, you can renovate a house, buy the latest gadgets, pay your debts, and meet other financial needs. Read this page below and know more about SMFG India Credit Nari Shakti Personal Loan.
Apply Personal Loan @ 10.75%* Rate
SMFG Nari Shakti Personal Loan Interest Rate
SMFG India Credit charges an interest rate on your borrowed loan amount based on your income and credit history. Look at the table below and know the loan details.
| Particulars | Details |
|---|---|
| Loan Amount (in INR) | Up to 25 lakh |
| Interest Rate (in per annum) | 11.99% Onwards |
| Tenure (in months) | 12 to 60 |
| Processing Fee (in percentage) | NIL to 6% of the loan amount |
| Prepayment Fee (in percentage) | NIL to 7% of the loan balance amount |
| Lowest EMI Per Lakh in 60 Months (in INR) | 2,275 |
SMFG India Credit Nari Shakti Personal Loan for Women EMI Calculator
Before you borrow a personal loan , you should check the EMI amount. Because it can help you manage the loan repayment. All you need is a personal loan EMI calculator . And SMFG India provides you access to the EMI calculator. This smart device helps you know the exact and accurate EMI amount of your borrowed loan amount.
The EMI tool works when you insert SMFG India Nari Shakti Personal Loan for Women details such as the principal loan amount, interest rate and repayment tenure. Let’s understand the working of an EMI calculator with the help of an example below.
Suppose you borrowed a personal loan of INR 5 lakh from SMFG India at an interest rate of 16.00% per annum. And as you know the tenure for SMFG India Nari Shakti Personal Loan for Women ranges from 12 to 60 months. So before applying for the loan, you should check the EMI amount using the EMI tool. Check out the table below to see the outcome.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 70,963 | ₹ 74,945 | ₹ 4,29,037 |
| 2 | ₹ 83,187 | ₹ 62,720 | ₹ 3,45,849 |
| 3 | ₹ 97,518 | ₹ 48,390 | ₹ 2,48,330 |
| 4 | ₹ 1,14,318 | ₹ 31,590 | ₹ 1,34,012 |
| 5 | ₹ 1,34,172 | ₹ 11,896 | ₹ 0 |
Eligibility Criteria of SMFG India Nari Shakti Personal Loan for Women
To borrow a personal loan from SMFG India , first, you need to check eligibility criteria for SMFG India Nari Shakti Personal Loan. The following are the requirements you need to meet to apply for a personal loan.
- The age of the applicant should be 21 years to 60 years
- Salaried women employees living in either Mumbai or Delhi must have a minimum monthly income of INR 25,000. A monthly income of INR 20,000 per month will be needed for women employees living in the rest of India
- Self-employed women applicants loan eligibility is based on their minimum yearly profit after-tax payment.
- Minimum 1 year of experience is required for salaried women applicants
- The minimum CIBIL score required is 750
- EMI/Income ratio of maximum 65.00% on SMFG Nari Shakti Personal Loan
SMFG India Nari Shakti Personal Loan Eligibility Calculator
You may want to know how much you are eligible to borrow based on your income. For this, SMFG India’s loan eligibility calculator can be used. It is an online tool that helps you know the loan amount you could receive from SMFG India. As you know your eligibility for SMFG India Nari Shakti Personal Loan is determined by your age, place of residence, monthly income from the above-mentioned information. But the eligibility calculator helps you know the appropriate amount when you have ongoing EMIs.
The personal loan eligibility calculator is simple to use, you just need to insert the following details to know your eligible personal loan amount.
- Select the employment status from salaried/self-employed
- Enter your residence city
- Date of Birth
- Net monthly income
- Current EMI amount, interest rate and tenure
Then, you will be able to see the personal loan amount you are eligible for on your computer screen.
Required Documents
To apply for a SMFG India personal loan, all you need to do is submit a few documents. There’s not much paperwork involved in the loan process. Have a look at the below points to know the documents which you are required to submit when you apply for a personal loan at SMFG India.
KYC Documents
- Driving license
- Aadhaar card
- Voter ID card
- PAN Card
Income Documents
- Salaried
- Last 2 months salary slips
- Last 3 months bank account statements of your salary account
- Self-employed
- Income proof such as ITR Report
- Last 3 months current account
Features and Benefits
- Instant Approval: SMFG India provides loans to women quickly without any hassle. Just fill the loan application form and submit a few documents to borrow an instant loan.
- Online Loan Account: The loan process is online, you don’t need to visit any branch to apply. And you can get access to your SMFG India Loan Account using the online services.
- Loan Disbursal in 72 hours: After the loan approval, you don’t need to wait anymore as the funds will be transferred to your bank account within 72 hours.
- Attractive Rate of Interest: SMFG India provides loans to women at preferential rates ranging from 11.99% Onwards per annum.
- Collateral Free Loan: Don’t worry if you don’t have an asset to pledge as SMFG India provides you a personal loan free from collateral.