Shriram Personal Loan: Interest Rates, Documents, Eligibility

Shriram Personal Loan: A non-banking financial institution (NBFI), Shriram City Finance, provides personal loans at attractive interest rates. The borrower’s preferred scheme is often the basis on which the interest rates are offered. The loans may be repaid over a maximum of 36 months.

Shriram Personal Loan

Individuals in India who are salaried or self-employed can apply for personal loans from Shriram Finance at interest rates starting at 11.49 percent p.a. for terms up to three years. Shriram Finance’s personal loan processing fee is up to 2.5 percent of the loan amount plus any relevant taxes.

What Is A Personal Loan?

A personal loan is a flexible, unsecured (i.e., no security required) loan usually used to meet urgent financial needs. Personal loans are among the most popular loans on the market since they often have a quick approval process.

personal loan application

Features Of Personal Loan From Shriram Finance

A single personal loan product is available through Shriram Finance and is intended for both new and current customers of the Shriram Group companies. The following features are included with a personal loan interest rate from Shriram Finance:

  • Online submission: Shriram Finance excels at quick eligibility checks, online applications, and fast separate.
  • Flexible payback period: You may repay your loan amount over a period ranging from 12 to 36 months, depending on your convenience.
  • The company excels at providing excellent customer-centric support with 7.5 million customers and 2,400 branches throughout India.
  • Loan without Collateral: Personal Loan does not require you to provide any security or collateral.
  • Competitive interest rates: Starting at 11.49 percent, which is highly competitive.
  • Feature for customer log-in: You can check your account anytime and handle problems.

Fees and Charges for Personal Loans from Shriram Finance

The charges and fees that apply to personal loans for Shriram city union finance personal depend on the programs that the applicants choose. There are, however, some fixed costs, including:

ParticularsCharges
Overdue Interest36 % of the outstanding payments or liabilities
Swapping ChargesGST plus Rs. 1,000 per swap
Loan CancellationRs.1,000 + GST
Posatge ChargesFor every notice delivered to the loan borrower, postage costs will be Rs. 50 plus GST.

An Overview of Personal Loans from Shriram City Union

Shriram City Union offers a wide range of services in the personal loan market. For any financial assistance, it is the bank that all types of people prefer the most. The personal loans provided by Shriram Finance can be used to cover any urgent financial need, such as a wedding, medical procedures, home repairs, vacation, etc.

Check this also: BOB Personal Loan Interest Rate

Eligibility Criteria For Shriram Finance Personal Loans

The candidate must satisfy the following requirements:

  • The minimum and maximum age restrictions are 18 and 59 years, respectively.
  • A salaried candidate must have worked for a company for at least a year.
  • Self-employed people must have worked for a company for at least two years.
  • There shouldn’t be any bounced checks on the applicant’s bank statement.
  • The borrower must disclose any current loans that they may have.
  • The candidate must have lived in the same place for at least a year.
  • It should be noted that the eligibility above requirements do not ensure that the loan will be disbursed.
  • Only until Shriram City Union Finance Personal has verified and approved the original documents presented by the applicant will a loan be issued.

Documents Needed For A Personal Loan from Shriram Finance

The application form must be submitted with the following documents:

  • Your passport, driver’s license, voter ID card, Aadhaar card, or PAN card are acceptable forms of identification.
  • Proof of residence: It may be a passport, a driver’s license, and NREGA card, a ration card, or a gas bill and gas book.
  • Proof of income.
  • Bank statement for the last six months.R
  • Regulations for electronic processing and postdated checks.
  • Documents of legality as required by Shriram City Finance.
  • As required by Shriram City Union Finance Personal, collateral security.
  • You must supply any further paperwork that Shriram City Finance requests.

Details Of Personal Loans From Shriram Finance

Rate Of Interest11.49% – 28%
Loan AmountDecided By Lender
Loan Tenure36 Months/3 Years
Minimum EMIRs. 3,297 Per Lakh
Processing Fee2.5 percent of loan amount + taxes
Processing Time1-7 Days
Who Can ApplyEmployees in India who are salaried or self-employed
Age18-59 Years
Charges Of RejectionRs. 500

Advantages Of Shree Ram Personal Loan

  • Low interest rate
  • No need for security
  • Reduced paperwork
  • Long tenure
  • Minimum Salary Required
Check this also: Urgent Loan With Bad Credit In India

EMI Calculator For Personal Loans From Shriram City Union

Once you’ve decided to take out a personal loan interest rate to cover an immediate or emergency need, you might want to find out what the oan?”,”content”:”A personal loan is a flexible, unsecured (i.e., no security required) loan usually used to meet urgent financial needs. Personal loans are among the most popular loans on the market since they often have a quick approval process.”,”visible”:true,”imageID”:77305},{“id”:”faq-question-1656743997031″,”title”:”What address proof is acceptable for a personal loan from Shriram Finance?”,”content”:”The following documents are acceptable to verify your residence address for a personal loan from Shree Ram Finance Ltd.\u003cbr\u003eDriving License\u003cbr\u003ePassport\u003cbr\u003eCard NREGA\u003cbr\u003eGas Statement and Gas Book”,”visible”:true,”imageID”:77306},{“id”:”faq-question-1656744522146″,”title”:”What is the maximum loan term for a personal loan from Shriram Finance?”,”content”:”The maximum payback period for Shriram Finance’s loan, which is a short-term loan, is 36 months.”,”visible”:true,”imageID”:77307},{“id”:”faq-question-1656744593049″,”title”:”What is the lowest interest rate available for a personal loan from Shriram Finance?”,”content”:”At Shree Ram Finance, personal loan interest rate begin at 11.49 percent p.a.”,”visible”:true,”imageID”:77305},{“id”:”faq-question-1656746585890″,”title”:”How to check Shriram Personal Loan Status?”,”content”:”The free number to contact is 1800-103-6369. To get answers to your questions, go to the official website of Shriram City Union Finance and select the \u0022Ask Ram\u0022 chatbot icon. You can physically go to Shriram City Union Finance, the closest branch.”,”visible”:true,”imageID”:77308}]} –>

What is a Personal Loan?

A personal loan is a flexible, unsecured (i.e., no security required) loan usually used to meet urgent financial needs. Personal loans are among the most popular loans on the market since they often have a quick approval process.

What address proof is acceptable for a personal loan from Shriram Finance?

The following documents are acceptable to verify your residence address for a personal loan from Shree Ram Finance Ltd.
Driving License
Passport
Card NREGA
Gas Statement and Gas Book

What is the maximum loan term for a personal loan from Shriram Finance?

The maximum payback period for Shriram Finance’s loan, which is a short-term loan, is 36 months.

What is the lowest interest rate available for a personal loan from Shriram Finance?

At Shree Ram Finance, personal loan interest rate begin at 11.49 percent p.a.

How to check Shriram Personal Loan Status?

The free number to contact is 1800-103-6369. To get answers to your questions, go to the official website of Shriram City Union Finance and select the “Ask Ram” chatbot icon. You can physically go to Shriram City Union Finance, the closest branch.