SMFG India Credit Consumer Loan

SMFG India Credit Consumer Durable Loan allows you to avail a loan amount starting from Rs. 11,000 up to Rs. 30,000 for the purchase of consumer durables or any other electrical or electronic gadget of your choice. This loan can be easily availed online with minimal documentation and allows you to purchase expensive consumer durable items conveniently through easy EMIs.

Features of SMFG India Credit Consumer Durable Loan

• Loan Amount: The loan amount offered under SMFG India Credit Consumer Durable Loan can range between Rs. 11,000 to Rs. 30,000 which you can use to buy refrigerators, TV, washing machine or any other consumer durable of your choice.
• Minimal Documentation: SMFG India Credit Consumer Durable Loan can be availed with minimal documentation and is processed quickly.
• Easy Application: You can easily apply for SMFG India Credit Consumer Durable Loan online to avail funds quickly.
• No Processing Fee: No processing fee is required to be paid to avail SMFG India Credit Consumer Durable Loan.
• Flexible Tenure: SMFG India Credit Consumer Durable Loans come with flexible repayment tenure of up to 60 months.

SMFG India Credit Consumer Durable Loan Interest Rate

The interest rate applicable to consumer durable loans from SMFG India Credit starts at 11.99% p.a. However actual rates charged may be higher or lower depending on the offer, product as well as merchant from whom the item is bought.

Eligibility Criteria

• You must be within the age group of 21 to 60 years.
• You should either be a salaried employee of a public sector undertaking or private limited company or a self-employed individual with a minimum turnover as per the current policy.
• You should have a minimum total work experience of 1 year of which at least 6 months is with the current organisation.
• Salaried individuals living in Mumbai/Delhi should have a minimum monthly income of Rs. 25,000 whereas those living in other locations should have minimum monthly income of Rs. 20,000. Self-employed individuals should have a minimum yearly profit after tax determined based on industry/profession.
• You must have a minimum CIBIL Score of 750 to be eligible
• Your maximum EMI as percent of income can be up to 65% only
• 2 financially sound guarantors also need to be provided

Documents Required

The following documents are needed to apply for SMFG India Credit Consumer Durable Loan:

• Address Proof: Of both the borrower and guarantors (copy of Election Card, Ration Card, Driving License, Telephone Bill, etc.)
• Income Proof: Copy of ITR, Sales Tax returns, Financial Statement of the Firm, etc.
• PAN Card copy
• 2 Financially sound members must guarantee the loan. One of them should have a net individual worth at least twice the loan amount.
• Quotation for article to be purchased.
• Hypothecation of article to be purchased and written security of the 2 guarantors.
• 2 Photographs each of borrower and guarantors

Note: Any other document as deemed necessary may be requested by SMFG India Credit.

Fees and Other Charges

The following are the fees and charges other than interest charges applicable to a SMFG India Credit Consumer Durable Loan:

EMI Calculation

Personal Loan at Attractive Interest Rates Apply Now

SMFG India Credit Customer Care

You can contact SMFG India Credit’s customer care department via any of the following means given below:

• You can call on its toll-free customer care number 1800-103-6001
• You can send an email to namaste@smfgindia.com
• You can visit the nearest SMFG India Credit branch in-person and talk to a customer service representative.
• You can also get your queries resolved through its online chatbot “Dia”.
• You can send a letter detailing your query to the SMFG India Credit mailing address –

SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.)

No. 101, 102 & 103, 10th floor, North Avenue, Maker Maxity, Bandra Kurla Complex, Bandra (E), Mumbai-400051, Maharashtra

• You can also log into the customer service portal “Service Connect” on the SMFG India Credit website or the SMFG India Credit mConnect App on your phone to raise a request or get your queries resolved.

FAQs

Q1. What can I purchase with the loan amount availed from the SMFG India Credit Consumer Durable Loan?

You can purchase any consumer durable product, electrical or electronic gadget of your choice using the amount disbursed under the loan scheme.

Q2. How do I buy the consumer durable product using the SMFG India Credit consumer loan?

Once the loan amount is transferred to your account by SMFG India Credit, you can either purchase the product online or visit the nearest store to make your purchase. Then you just need to repay the loan later in EMIs as per the loan agreement.

Q3. Can I apply for a Consumer Durable Loan from SMFG India Credit in case I am not an existing customer of the lender?

Yes, both new and existing customers can avail a Consumer Durable Loan from SMFG India Credit, provided they meet the lender’s eligibility criteria.

Q4. Do I need guarantors to avail SMFG India Credit Consumer Durable Loan?

Yes, you will need to have 2 Guarantors (financially sound members having net individual worth atleast twice the loan amount) and hypothecation of the article to be purchased in order to avail the loan.

Q5. How can I know the EMI payable on SMFG India Credit Consumer Durable Loan?

You can compute the EMI payable on SMFG India Credit Consumer Durable Loan using the EMI calculator available on the lender’s website. You can also use Paisabazaar’s EMI calculator to know the EMIs payable under the loan scheme. Various combinations of loan amounts, interest rates and tenures can be used for free to arrive at the most suitable EMI amount for you.