SMFG India Home Loan – Interest Rates 2024, Eligibility, EMI
Apply for SMFG India Home Loans: Details on Eligibility, Documents, Repayment, Lowest EMI Rs. 826. Calculate Eligibility with Calculator Online.
Why to Choose SMFG India for Home Loan:
- ✓ Transparent processes and procedures
- ✓ Maximum loan amount of upto 1 crore.
- ✓ A wide network of offices across India, for your convenience
- ✓ Easy and fast approvals of your home loan application
- ✓ Simple Documentation
- ✓ Free & safe document storage
- ✓ Balance Transfer facility available with additional finance
SMFG India Home Loan Interest Rates
| Loan Slab | Interest Rates |
| Salaried | 9.50% onwards |
| Self Employed | 10.50% onwards |
| Loan amount | Min. 1 Lakh |
| Max Tenure | 30 years |
| EMI per Lakh | 841 |
About SMFG India:
Currently SMFG India serves around 1 million customers in India with 528+ branches. SMFG India Credit Company Limited is a wholly owned subsidiary of SMFG Financial Holdings Pte. Ltd., which in turn is a wholly owned subsidiary of Temasek Holdings Pte. Ltd., Singapore. OVER 10,000* EMPLOYEES, SMFG India Provides services in 600 towns and close to 51,000 villages.
Faqs About SMFG India Home Loan
All salaried individuals, self-employed professionals (and self-employed non- professionals) can avail home loan from SMFG India.
How your loan eligibility determined?
The primary consideration in determining the loan eligibility is that you should be comfortably able to repay the amount you borrow. Your repayment capacity is determined by taking into consideration factors such as income, age, qualifications, number of dependents, spouse’s income, assets, liabilities, stability and continuity of occupation and savings history.
Borrower can include spouse/ parents/ children as a co-applicant and their income will be considered to enhance loan amount.
Can I avail a tax rebate on my home loan?
Tax Rebates are applicable as under the Income Tax Act.
What is an EMI?
Your loan is repaid through Equated Monthly Installments (EMI), which include principal and interest components. EMI repayment starts from the subsequent month of the full loan disbursement. The EMI is always paid up to the lender on a fixed date each month until the total amount due is paid up.
Documents Required for SMFG India Home Loan
✓ Application form with photograph .
✓ Age proof (PAN Card, Passport, any other certificate from a statutory authority)
✓ Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, any other certificate from a statutory authority)
✓ Salary slip of the last 3 months
✓ Form 16
✓ Last 3 years Income Tax returns
✓ Bank statements of the last 6 months
✓ Copy of Title Documents of the property, Approved Plan
✓ Processing fee cheque
Self-Employed:
✓ Application form with photograph .
✓ Age proof (PAN Card, Passport, any other certificate from a statutory authority)
✓ Residence Proof (Passport, Driving Licence, Telephone Bill, Ration Card, Election Card, any other certificate from a statutory authority)
✓ Income Tax returns of the last 3 years duly certified by a CA
✓ Profit & Loss Account and Balance Sheet of the last 3 years
✓ Bank statements (self and business) of the last 6 months
✓ Copy of Title Documents of the property,
✓ Approved Plan Processing fee cheque
SMFG India Home Loan EMI Calculator
SMFG India home loan emi will be calculated by using emi calculator tool. For example you avail a home loan of Rs.15 Lakh for 15 Years at interest rate of 9.50%, so your emi calculation are as below:
| Year | Principal | Interest | Balance Amount |
| 1 | Rs. 47,489 | Rs. 140,467 | Rs. 1,452,511 |
| 2 | Rs. 52,201 | Rs. 135,755 | Rs. 1,400,310 |
| 3 | Rs. 57,382 | Rs. 130,574 | Rs. 1,342,928 |
| 4 | Rs. 63,076 | Rs. 124,880 | Rs. 1,279,852 |
| 5 | Rs. 69,339 | Rs. 118,617 | Rs. 1,210,513 |
| 6 | Rs. 76,220 | Rs. 111,736 | Rs. 1,134,293 |
| 7 | Rs. 83,783 | Rs. 104,173 | Rs. 1,050,510 |
| 8 | Rs. 92,098 | Rs. 95,858 | Rs. 958,412 |
| 9 | Rs. 101,240 | Rs. 86,716 | Rs. 857,172 |
| 10 | Rs. 111,287 | Rs. 76,669 | Rs. 745,885 |
| 11 | Rs. 122,332 | Rs. 65,624 | Rs. 623,553 |
| 12 | Rs. 134,472 | Rs. 53,484 | Rs. 489,081 |
| 13 | Rs. 147,819 | Rs. 40,137 | Rs. 341,262 |
| 14 | Rs. 162,491 | Rs. 25,465 | Rs. 178,771 |
| 15 | Rs. 178,895 | Rs. 9,338 | Rs. 0 |
Other Products of SMFG India:
SMFG India Personal Loan
SMFG India Loan Against Property
SMFG India Two Wheeler Loan
