What Is A Small Personal Loan? | SMFG India Credit

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A small personal loan, or mini loan, is an unsecured loan designed to meet short-term financial needs, typically ranging from ₹50,000 to ₹5 lakh. These loans provide quick access to funds for immediate expenses like medical emergencies, home repairs, or other unforeseen costs.

1) No Collateral: No assets are required as security.
2) Fast Processing: Quick approval and verification ensure rapid disbursement.
3) Eligibility: Applicants must be Indian citizens aged 22-65, with a minimum income of ₹25,000 (Delhi/Mumbai) or ₹20,000 (elsewhere) and a CIBIL score of 750+.
4) Lower Interest Rates: More affordable than credit cards.
5) Flexible Repayment: Tenures up to 60 months with fixed monthly payments.
6) No Usage Restrictions: Funds can be used for any personal need.

Required Documents: Identity proof, address proof, and income proof.

Small personal loans offer a quick, convenient, and affordable way to cover urgent expenses.

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SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) is among the leading NBFCs of India. Since its launch in 2007, SMFG India Credit has successfully and strongly established itself, spread across the country's broad financial landscape, with a PAN India branch network serving millions of customers. Our services are dedicated to provide financing to the underserved segments, including retail consumers and small business owners / SMEs. We offer unsecured as well as secured financing through an array of products including personal loans, commercial vehicle and two-wheeler loans, home improvement loans, loans against property and personal loans. SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) is wholly owned by the Sumitomo Mitsui Financial Group (SMFG).