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How To Apply For SBFC Personal Loan in An Easy Way?

Irrespective of an individual’s profession, be it salaried or self-employed, the need for money can arise from anywhere without any prior information. Do you need this to be fulfilled with the help of a personal loan? Well, you can choose from several lenders that provide a personal loan facility to customers without presenting any collateral. Among those lenders’ options, SBFC Personal Loan is one of the most popular ones among customers. There are several reasons that push its popularity - affordable interest rates, lenient eligibility criteria, higher loan amount, the hassle-free application process, and others.   

One of the best things about SBFC Personal Loan is that individuals can take the loan amount for various purposes whether it is their child’s education or marriage or any health-related expenses or any travel planning. So, if you are looking to opt for a personal loan for your emergency needs, this can be a good option for you. In this article, we will be telling you some of the important aspects of this personal loan from SBFC such as its application process, eligibility criteria, documents required, etc. Keep reading to know more!

What is the SBFC Personal Loan Application Process?

As we mentioned earlier, one of the best features of the personal loan from SBFC is its hassle-free application process. Since the process is totally online, any individual can apply from it anywhere. There are a few important steps that an individual needs to follow if he or she wants to apply for this personal loan. We are showing them below. Please check!

  1. The first thing an individual needs to do is to visit the official website of SBFC. 
  2. On this website, you will see a ‘Personal Loan’ section. On reaching the website, there will be a button for the ‘Apply Now’ process.
  3. When you click this button, you will be redirected to an application form. Here, you will need to fill in a few important details such as Required Loan Amount, Required tenure (in months), monthly income, and purpose of the loan. 
  4. Fill in these loan details and submit them. As soon as you submit it, you will be redirected to a section where you will need to fill in a few personal details. These details will be your name, email ID, mobile number, PAN, Date of Birth, Gender, and Marital Status. Fill in these details and complete the application process by submitting the form. 
  5. Soon after submitting the details, the representatives from SBFC will contact you regarding your loan application. If you are eligible, the loan amount will be disbursed into your account. 

What is the Eligibility Criteria of SBFC Personal Loan?

Now that you have understood the overall application process of SBFC Personal Loan, there is an important thing that you need to understand - Eligibility Criteria. SBFC has fixed a set of conditions that an individual needs to fulfill at all costs to get a loan amount from SBFC. What are those conditions? Have a look below to know them!

  1. SBFC personal loans can be taken by both salaried and self-employed individuals without any trouble. 
  2. The individuals should have a regular and stable income of source so that he/she can repay the loan smoothly.
  3. The maximum loan can go up to as high as INR 10 lakh. However, the final loan amount will be decided by SBFC after assessing an individual’s monthly income and credit score.
  4. The credit score should be 700 or above to get this personal loan. Through this score, lenders estimate an individual’s past repayment behavior. 

At the time of application, you will also need to submit a few documents that we are shown below. Please check!

  1. Duly Signed Personal Loan application form
  2. Two passport-sized photographs
  3. KYC Documents such as Aadhar Card, PAN Card, etc.
  4. Address Proof as Electricity Bill, Telephone Bill, etc. 
  5. Income Proof 
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