Fullerton India Home Construction Loan

SMFG India, formerly known as Fullerton India Credit Company, is one of the Non-Banking Financial Companies (NBFCs) operating in India under the guidelines of the Reserve Bank of India. The company has a pan-India presence and offers its customers various financial products and services. If you plan to build your own home, SMFG India provides a construction loan to support your financial needs, ensuring you can easily achieve your dream of constructing a home.

SMFG India Credit Construction Loan Interest Rates 

SMFG India offers competitive interest rates for its construction loans, ensuring borrowers can manage their finances effectively. The interest rates vary depending on whether the borrower is salaried or self-employed.

SMFG India Credit Construction Loan Fees and Charges

Understanding the fees and charges associated with an SMFG India Credit construction loan is crucial for effective financial planning. Below is a brief overview of the key fees and charges:

SMFG India Credit Construction Loan Eligibility Criteria for Salaried

To be eligible for a construction loan from SMFG India Credit, salaried individuals must meet certain criteria:

• The applicant should be employed in a multinational corporation (MNC), government organisation, publicly listed company, privately-held company, partnership firm, or proprietorship firm.

SMFG India Credit Construction Loan Eligibility Criteria for Self-Employed

Self-employed individuals must also meet specific criteria to qualify for a construction loan from SMFG India Credit:

• Self-employed applicants include individual business owners, sole proprietors, professionals such as doctors, CAs, architects, partnership firms, private limited companies, and closely held or unlisted companies.

SMFG India Credit Construction Loan Documents Required for Salaried

Applicants must provide various documents to apply for an SMFG India Credit construction loan. For salaried individuals, the required documents include:

Proof of Identity

Proof of Income

Proof of Residence

SMFG India Credit Construction Loan Documents Required for Self-Employed

Self-employed applicants need to provide the following documents:

Proof of Identity

Proof of Income

Proof of Residence

Features of SMFG India Credit Construction Loans

SMFG India’s construction loans have numerous features to help borrowers manage their finances efficiently and realise their dream of building a home.

Affordable Home Construction Loans

SMFG India offers home construction loans with competitive interest rates starting at 9% annually, making the loan affordable for borrowers.

Fast Approval and Quick Disbursement

The SMFG India Credit Construction Loan application process is streamlined and can be completed online. Once approved, funds are disbursed within 72 hours, ensuring the construction project can commence immediately.

Manageable EMIs

With competitive interest rates, SMFG India ensures that construction loan EMIs are easy to handle, making repayment more manageable for borrowers.

Flexible Loan Tenure

The loan tenure can extend up to 30 years, allowing borrowers to choose a longer repayment period to reduce monthly EMI amounts. This flexibility helps with better financial management and maintaining the standard of living.

Convenient Repayment Options

Repaying the construction loan is hassle-free, with options like ECS (electronic clearing system) and post-dated cheques, providing convenience and ease of repayment.

Attractive Tax Benefits

Borrowers can avail of tax benefits on both the principal and interest components of the loan under Section 24 of the Income Tax Act. Additionally, they might qualify for benefits under the PMAY-CLSS scheme, subject to meeting certain criteria.