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Shriram Finance Personal Loan 2024: Shriram Finance is an Indian company that provides a maximum personal loan of Rs 15 lakh at the rate of 12% annual interest whose repayment period is a maximum of 5 years. You will be granted a loan from here for personal needs like home renovation, medical emergency, travel, marriage, and education, the process of which is 100% digital. Shriram Finance Personal Loan is also available for salaried and self-employed individuals.
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Further in this article, we will tell you what documents are required to apply online for Shriram Finance Personal Loan, what is the eligibility for it, how much will be the interest rate and processing fee of the loan and how to apply online for Shriram Finance Personal Loan. How to apply? Will provide complete information about this. If you want complete information related to loans then stay connected with us till the end.
What is Shriram Finance Personal Loan?
Shriram Finance Limited is an Indian company furnishing banking services which is also known as Shriram City Union Finance Limited. It was established in the time 1986.
This company provides loans for particular requirements. You can take loans for home additions, medical, education, trips, vehicles, etc. This company provides particular loans ranging from ₹ 20000 to ₹ 15 lakh to guests without any guarantee, with a maximum repayment period of 5 times.
Features of Shriram Finance Personal Loan
If you’re applying for Shriram Finance Personal Loan also you’ll get these benefits –
- A maximum particular loan of over Rs 15 lakh can be taken from Shriram Finance Limited.
- The repayment period of this loan is a maximum of 5 times.
- Shriram Finance Limited Personal Loan interest rates start at 12 per annum.
- Both employed and unemployed guests can claim this loan.
- The process of taking the loan is 100 digital, so you don’t need to wander then and there.
- The loan quantum is deposited into the client’s bank account within 72 hours with low processing freights and minimum attestation.
Shriram Finance Personal Loan Interest Rate & Processing Fees
Shriram Finance Limited Personal Loan interest rate thresholds at only 12 per annum. Its processing figure is 1 of the loan quantum.
The interest rate charged then depends on what you’re taking the particular loan for. piecemeal from this, your credit history, credit score, age, income, and fiscal records also affect the interest rate, only after assessing all these the company determine the interest rate.
| Highlights of Shriram Finance Personal Loan | |
| Interest rates | 12% p.a onwards |
| Loan amount | Up to Rs 15 lakh |
| Loan tenure | Up to 5 years |
| Processing Fees | Minimum 1% of the loan amount |
| Loan Product | Interest rates (p.a.) |
| Processing fees | Minimum 1% of the loan amount |
| Foreclosure charges | Rs 1,000 |
Eligibility for Personal Loan from Shriram Finance
To take a particular loan from Shri Ram Housing Finance Limited, one has to fulfill the following eligibility criteria –
- Being guests of companies can apply for Shriram Finance Personal Loan.
- Employed and non-employed individuals can profit this particular loan.
- For this, it’s necessary that the age of the client is above 21 times and below 60 times and his payment history is clear.
- Employed persons must have at least 1 time of experience in their work.
- Non-employed persons should have at least 2 times of experience in the current business.
- The person applying for a Shriram Finance Personal Loan must be living in the same place for at least 1 time.
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Documents Needed for Personal Loan from Shriram Finance
To apply for Shriram Finance Personal Loan, some documents will be needed, the list of which is given below –
- Aadhar card
- PAN card
- Passport size picture
- Address evidence
- Bank account statement of last 6 months’ payment slip
- ITR return
Steps to Apply for Shriram Finance Personal Loan Online:-
you can apply online for Shriram Finance Personal Loan by following the process given below step by step If you’re interested in taking a loan.
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- First of all, open the sanctioned website of Shriram Finance.
- Then you’ll get the option of a particular Loan, click on it.
- After this a new runner will open, then you’ll have to fill in your mobile number, pin code, and loan quantum and click on the Apply Now button.
- After this, you’ll get a call from the company who’ll get some loan-affiliated information from you and ask you to submit the documents.
- After vindicating everything, your loan will be approved and the loan quantum will be transferred to your account.
Shriram Finance Personal Loan Customer Care Number
In this composition over, we’ve handed you complete information about the documents needed for the Shriram Finance Personal Loan, including interest rate, recycling figure, eligibility criteria, operation process, etc.
Still, if you face any problem related to a particular loan or have any questions, you can communicate with Shriram Finance Personal Loan client Care helpline number 18001034959, 18001036369.
Features & Benefits of Shriram Finance Personal Loan
Under the Shriram Finance Personal Loan Scheme, you get a loan at a fixed interest rate. Following are the features and benefits of this loan scheme.
- Personal loan up to Rs 15 lakh.
- Loan repayment tenure ranges from 12 months to 60 months.
- Collateral-free loan means loan approval without any guarantor.
- Completely digital and paperless loan process.
- The pre-approved personal loan is credited to your bank account within 72 hours.
- Starting personal loans with a minimum interest rate of 12 percent.
- The facility of loan foreclosure.
- Regular reminders for EMI on your mobile and email so that you do not miss the EMI of your loan.
- Various types of personal loan schemes as per the need and eligibility of the customer.
- Zero documentation fee for personal loan.
- Personal loan facilities are also available to customers with low credit scores.
- Loan facility up to 30 times your monthly income.
- Arrangement for making EMI up to 50 percent of monthly salary.
Lock-in Period of Shriram Finance Personal loan
The lock-in period for a loan is the time period during which you cannot make prepayment or foreclosure of your loan. That means you cannot close your loan account during this period. Shriram Finance Personal Loan has a lock-in period of 12 months.
You cannot prepay your loan for 12 months from the first monthly installment (EMI) due date. After this period, you can deposit your entire loan amount at once by paying a foreclosure charge of 4 percent of the outstanding principal amount of your loan.
Eligibility for loan from Rs 25 thousand to Rs 15 lakh
Only citizens of India are eligible to apply for Shriram Finance Personal Loan. To apply for this loan, your minimum age should be 21 years.
The maximum age for personal loan application should not exceed 60 years at the end of your loan tenure. Both salaried and self-employed people can apply for a Shri Ram Finance loan.
To apply under the Shriram Finance Personal Loan Scheme, your CIBIL score should be 300 or more. This finance company offers personal loans ranging from 10 to 30 times your monthly salary, which can be up to a maximum of Rs 15 lakh.
The maximum amount of your personal loan depends on your CIBIL score, income, employment status, age of the applicant, and current loan liability. If your income is regular and your job is permanent then you are eligible to get a higher personal loan. Similarly, a younger applicant can take more loans under long-term loans.
If you do not already have an active loan account then you are eligible to take more loans under this scheme. Let us tell you that no applicant can keep the EMI of a personal loan more than 50 percent of his monthly income.
Pre-Approved Personal Loan from Shriram Finance
Under Shriram Finance’s pre-approved personal loan, the loan amount is credited to your bank account in just 72 hours. For a pre-approved personal loan, you only have to submit KYC documents, and no other eligibility documents are required. The finance company offers you a pre-approved personal loan of a certain amount as per your eligibility.
Shriram Finance Personal Loan EMI Calculator
To calculate the EMI of Shriram Finance Personal Loan, you can take the help of the Personal Loan EMI Calculator. By following the steps given below, you can easily know the EMI of your personal loan:-
Step-1 First of all open the official website of Shri Ram Finance.
Step-2 Now click on the link of Calculators at the top of the homepage of the website.
Step-3 Now click on the option of Personal Loan in the options that will open in the dropdown menu on your screen.
Step-4 Now Personal Loan EMI Calculator will open on your screen where you have to write the Required Loan Amount, interest rate, and loan period.
Step-5 Now the monthly installment (EMI) of your loan will start appearing on your screen.
Apart from the monthly EMI, details of the total interest for your loan period will also be given.
Shriram Finance Personal Loan App Details
Shri Ram Finance has launched the Shriram One mobile app to provide better services to its customers for all its schemes through a single app.
Through this mobile app, you can avail of all types of loans, fixed deposits, and UPI services. Any person can log in through this through his mobile number. You can also apply for Shriram Finance Personal Loan online through the Shriram One mobile app.
FAQs- Shriram Finance Personal Loan Apply Online
How to get a personal loan from Shriram Finance?
They can also visit any branch of the lender to apply for the loan.
How to check Shriram Finance Personal Loan status?
You can check the status of your Shriram Finance personal loan application by visiting any of the lender’s branches or calling their customer care number. Alternatively, you can also visit the NBFC’s website to check the status of your loan application.
