SMFG India Credit Business Loan

Features and Benefits of SMFG India Business Loan

The key features and benefits to know before you apply for SMFG India Business Loan include:

Servicing Capital Requirements

SMFG India offers easy and quick loans for up to Rs. 50 Lakh to small businesses. The company has competitive rates for business loans ensuring your cost of capital remains low.

Flexible Repayment Tenure

FICCL offers flexible repayment tenure ranging from 1 year to 5 years. This helps you ensure your repayment schedule suits your cash flow.

Minimum Documentation Process

SMFG India asks to submit minimal documents making the online application process of business loans easy and hassle-free.

Transparent Eligible Criteria

FICCL has transparent business loan eligibility criteria allowing borrowers to get funds easily. 

No Security Required

No collateral or security is required while applying for a business loan from SMFG India.

Tailor-made Solutions

SMFG India offers products that come with pre-approved offers for your capital needs.

Factors Affecting SMFG India Business Loan Eligibility

Get to know the factors affecting SMFG India business loan eligibility before you apply for one.  

SMFG India Business Loan Fees and Charges

Listed below are the various SMFG India Business Loan fees and charges. 

Please note that additional interest is applicable for payment defaults, irrespective of the loan type. A rate of 24% is charged per annum on an overdue outstanding balance which is calculated on a day-to-day basis.

SMFG India Business Loan Interest Rates

Here is an overview of the key features and interest rates of the SMFG India Business Loan. 

Factors Affecting SMFG India Business Loan Interest Rates

Here are the seven crucial factors that affect SMFG India business loan interest rates.

• Applicant Type
• Model of Business
• Credit Score
• Business Turnover
• Financial Ratios
• Past Track Record
• Debt Servicing Ability of the Customers

Documents Required for SMFG India Business Loan

The list of documents required for SMFG India business loan includes:

• Duly filled loan application form with passport size photographs.
• Proof of Address (Voter ID Card / Passport / Ration Card / Driving Licence).
• Bank statement for the last 6 months.
• Income documents (including the latest ITR along with the computation of income, balance sheet, profit and loss account for the past two years) – The needs to be submitted after the requisite CA certification.
• Continuation Proof (ITR / Establishment / Trade Licence / Sales Tax Certificate).
• Other Documents (Sole Proprietorship Declaration Form / Certified Copy of the Partnership Deed, Certified True Copy of the Memorandum and Certified Articles of Association and the Board Resolution)

How Does the EMI Calculation Work for SMFG India Business Loans?

The business loan EMI calculator in SMFG India is easy to use. You just need to enter the rate of interest, loan tenure and total loan amount. Check below the simple steps you need to follow to determine the EMI amount in seconds:

• Select the total loan amount using the slider.
• Select the loan tenure.
• Enter the appropriate interest rate that is suitable for your current business profile.
• Once you press the submit button, your EMI amount will be displayed on the screen.

How Does SMFG India Compare with Other Lenders?

SMFG India offers business loans at amazing interest rates. The comparison of business loans in SMFG India with SBI and HDFC is as follows: