® 
Shriram Finance Limited
Loan Amount
1L
Max Tenure
18 Months.
Best Rate
28% p.a
Processing Fee
2000₹
Features
- Quick loan processing.
- Minimal documentation.
- Min Eligiblity Criteria.
Pricing
- Interest rate - 20% to 30% P.A.
- Processing fee - From 2.5%.
Documents Required
- ID Proof.
- Address Proof.
- Salary slip and appoinment Letter (for amber Customers).
- Income proof (3 Months BS ).
We are an authorized sourcing partner for Shriram Finance Limited Personal Loan.
Shriram Finance Limited
Loan Amount
50K
Max Tenure
12 Months.
Best Rate
35.1% p.a
Processing Fee
2.5%
Features
- Minimal Documentation.
- Quick loan processing.
- NTC also allowed for 50 k.
Pricing
- Interest rate - 35% to 37% P.A
- Processing fee - From 2.5%
Documents Required
- ID Proof.
- Address Proof.
We are an authorized sourcing partner for Shriram Finance Limited Personal Loan.
Shriram Finance Limited
Loan Amount
1_5L
Max Tenure
36 Months.
Best Rate
Nil*
Processing Fee
Nil*
Features
- Quick loan processing.
- Minimal documentation.
- Min Eligiblity Criteria.
Pricing
- Interest rate - 20% to 36% P.A.
- Processing fee - From 2.5%.
Documents Required
- ID Proof.
- Address Proof.
- Salary slip and appoinment Letter (for amber Customers).
- Income proof (3 Months BS )
We are an authorized sourcing partner for Shriram Finance Limited Personal Loan.
Shriram City Union Personal Loan
Loan Amount
75K
Max Tenure
1 year
Best Rate
35.1% p.a
Processing Fee
2.5%
Currently not available! for similar products
Shriram City Union Personal Loan
Loan Amount
20K
Max Tenure
1 year
Best Rate
35.1% p.a
Processing Fee
2.5%
Currently not available! for similar products
Shriram City Union Personal Loan
Loan Amount
35K
Max Tenure
1 year
Best Rate
35.1% p.a
Processing Fee
2.5%
Currently not available! for similar products
Shriram Personal Loan:
Shriram Finance Personal Loans come with affordable interest rates and flexible repayment options. The process of loan application is completely digital, preapproved, and paperless. Enjoy a hassle-free and quick borrowing process by applying on Creditmantri.
Key Highlights of The Shriram Finance Personal Loans
Collateral Free Loans Get collateral-free personal loans |
Quick Disbursals Pre Approved personal loans are processed and disbursed within 72 hours |
Flexible repayments Flexible repayment tenures between 12 and 60 months based on the required loan amount |
Flexible Loan Amounts Up to 15 Lakhs Loan online |
Affordable Interest Rates Personalized interest rates starting from 12% p.a. |
Seamless Borrowing Experience Fully digital, completely paperless, quick, and simple |
Regular reminders Periodical alerts on your registered mobile and email ID regarding your EMI payments |
Customer Login Feature It enables you to verify your account and resolve issues at any time. |
Shriram Finance Personal Loans With Other Lenders - A Comparison
Lender | Interest Rate | Processing Fee | Foreclosure Charges | Late Payment Fee |
|---|---|---|---|---|
Shriram Finance Personal Loan | Varies from case to case | Contact Shriram Finance for details | Contact Shriram Finance for details | 3% of the overdue amount per month |
10.75% p.a. onwards | 2.50% of the loan amount | 2% to 4% of the outstanding loan amount | 2% of the overdue amount per month | |
10.50% p.a. onwards | 0.25% to 3.00% + GST | Up to 4% of the principal outstanding | Contact Shriram Finance for details | |
Aditya Birla Capital | 14% p.a. onwards | Up to 2% of the loan amount | 2% of the outstanding loan amount | 2% of the overdue amount per month |
Types of Personal Loans Offered By Shriram Finance
Personal loans are unsecured loans that don’t have any end usage restriction. They can be used for any purpose like travel, wedding, home renovations, medical emergencies etc. Some types of personal loans offered by Shriram Finance are as follows:
- Wedding Loan: A wedding loan is a loan that is taken out specifically to meet wedding expenditures. It covers the cost of all wedding-related expenses like wedding ceremony, reception, photography, attire, and honeymoon.
- Travel loan: A travel loan is a personal loan that is taken specifically to cover travel expenses. Airfare, lodging, tours, and other related expenses fall under this category. This loan helps people who want to travel but cannot afford the expenses.
- Medical Emergency Loan: A medical emergency loan is a type of loan that is specifically designed for individuals facing unanticipated medical expenditures. These loans can be used to cover the cost of surgeries, medical treatments, hospital stays, and other expenses pertaining to medical care that are not covered by insurance.
- Consumer Durable Loan: This type of loan is curated to fund personal expenses. You can use a consumer durable loan for anything such as wedding expenditures, to pay off high interest credit card debt, throwing a luxury party, buying a car, home renovation, or any other personal expenses.
- Personal Loan For Women: This type of loan is particularly designed for women. It is used to cover all types of expenses like personal, business, or finance.
Advantages of Shriram Finance Personal Loans - Why Should We Apply?
- Hassle-free and speedy processing
- Instant and funds your immediate financial requirement
- Traditional loans from banks take time, In such cases, Shriram Finance personal loans come in quite handy
- It offers flexible repayment tenures in the range of 12 to 36 months
- Varied loan amounts depending on your needs and repayment capacity
- Not only salaried individuals but also self-employed, business owners, and professionals can also borrow quick funds to meet emergencies.
Shriram Finance Personal Loan Interest Rates
The Shriram Finance Personal Loan interest rates are not fixed. They vary according to the person’s profile. The factors affecting the interest rates are credit score, income, ongoing debts, and repayment history. Interest rates on personal loans begin from 12% p.a.Shriram Finance Personal Loan - Eligibility Criteria
- Age: 21 to 60 years on loan closure
- Resident Indians - More than 21 years of age
How to Apply for Syndicate Bank Personal Loan
Shriram Finance Personal Loan - Documents Required
Identity Proof Documents
|
Address Proof Documents
|
Other Documents
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How To Calculate The Shriram Finance Personal Loan EMI?
1.Using the formula
You can calculate the Shriram Finance personal loan EMI using the formula given below:EMI Amount = [P * R * (1 + R)^N]/[(1 + R)^N -1], where P, R, and N are variables. However, computing using the formula is very cumbersome and time-consuming. Besides, manual calculations are prone to errors. That is why we have the Shriram Finance Personal Loan EMI Calculator. This displays the result instantaneously and accurately.2. Using The Shriram Finance Personal Loan EMI Calculator Online
A personal loan EMI calculator is a calculator that helps you to compute the approximate EMI that you are going to pay on your business loan. Shriram Finance has a personal loan EMI calculator on its website. All you have to do is just use the slider to set the required loan amount, interest rate, and loan tenure. The monthly EMI is computed immediately and displayed instantaneously. The interest payable is also displayed. Let us take an example.Suppose the loan amount is Rs. 20,000
Interest rate is 12%
Loan tenure is 12 months.
Then, the monthly EMI is Rs. 1,777
Interest payable is Rs. 1,324
Total amount payable is Rs. 21,324
Amortization Schedule
Month | Principal amount | Interest | EMI | Balance | Loan paid to date |
|---|---|---|---|---|---|
May | Rs. 1,577 | Rs. 200 | Rs. 1,777 | Rs. 18,423 | 7.88% |
June | Rs. 1,593 | Rs. 184 | Rs. 1,777 | Rs. 16,830 | 15.85% |
July | Rs. 1,609 | Rs. 168 | Rs. 1,777 | Rs. 15,222 | 23.89% |
August | Rs. 1,6,25 | Rs. 152 | Rs. 1,777 | Rs. 13,597 | 32.02% |
September | Rs. 1,641 | Rs. 136 | Rs. 1,777 | Rs. 11,956 | 40.22% |
October | Rs. 1,657 | Rs. 120 | Rs. 1,777 | Rs. 10,298 | 48.51% |
November | Rs. 1,674 | Rs. 103 | Rs. 1,777 | Rs. 8,624 | 56.88% |
December | Rs. 1,691 | Rs. 86 | Rs. 1,777 | Rs. 6,934 | 65.33% |
January | Rs. 1,708 | Rs. 69 | Rs. 1,777 | Rs. 5,226 | 73.87% |
February | Rs. 1,725 | Rs. 52 | Rs. 1,777 | Rs. 3,501 | 82.49% |
March | Rs. 1,742 | Rs. 35 | Rs. 1,777 | Rs. 1,759 | 91.2% |
April | Rs. 1,759 | Rs. 18 | Rs. 1,777 | Rs. 0 | 100% |
Shriram Finance Personal Loans - Fees and Charges
The fees and charges for the Shriram Finance Personal loan are subject to the schemes which are chosen by the applicants. But, there are certain fixed charges such as
Cheque bounce charges | 3% of the amount mentioned in the cheque or Rs. 1000 (higher of the two) + GST |
Swapping charges | Rs. 1000 per swap + GST |
Overdue interest | 36% of the unpaid installments or dues |
Loan cancellation charges | Rs. 1000 plus GST |
Postage expenses | Postage expenditure for notice issuance - Rs. 50 plus GST per notice sent to the loan’s borrower. |
How To Apply For Shriram Finance Personal Loan?
Online Through CreditMantri
Step 1: Click on ‘Check Eligibility’
Step 2: Enter basic details like Email Id, mobile number, Pincode, residence type, residence city, employment type, requested loan amount, and date of birth.
Step 3: Click ‘Submit’
Step 4: An OTP is sent to your registered mobile number
Step 5: Enter the OTP for verification
Step 6: Proceed with the steps that follow to complete the application
Online Through The Shriram Finance Website
Step 1: Enter the mobile number, name, and pincode
Step 2: Click on ‘Apply Now’
Step 3: Proceed with the steps that follow to complete the application
Shriram Finance Personal Loan - Loan Verification Process
- Submit the application form duly completed and signed to the lender
- The representative of the lender will connect with you and collect the documents needed.
- The lender will verify the documents received
- The lender will approve the personal loan application upon verifying successfully
- You will have to accept the loan agreement by signing
- Post signing, the loan amount will be disbursed to your account
Shriram Finance Personal Loans EMI Payment Methods
Your Shriram Finance personal loan can be repaid in the following three ways.
- Standing Instruction (SI): If you are a current account holder with Shriram Finance, Standing instruction is the best method of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the Shriram Finance account you specify.
- Electronic Clearing Service (ECS): This method can be used if you have a non-Shriram Finance account and want your EMIs to be debited automatically at the end of the monthly cycle from this account
- Post-dated Cheques (PDCs): You can submit post-dated EMI cheques from an account that is not that of Shriram Finance at the closest Shriram Finance Loan Centre. A fresh set of PDCs will have to be submitted in time. Post-dated cheques will be stocked at non-ECS locations only.
Shriram Finance Personal Loan Customer Care
Shriram Finance has a dedicated customer service team. It has many modes of easy customer-focused services. It is therefore not necessary to walk into the branch of the company to contact customer care or wait for the customer care representative.
Toll-free numbers to resolve queries related to the Shriram Finance personal loan are 1800 103 6369 and 1800 103 4959
Customer executives attend to users promptly on this number 24/7.
Grievance Redressal - grievance@shriramfinance.in
Conclusion
Shriram Finance thus offers easy personal loans for any purpose. Apply for the loan and enjoy the benefits.
FAQs of Shriram Finance Personal Loans
1. What is the age limit for Shriram Finance Personal Loan?
The age-wise eligibility for Shriram Finance Personal loans is 21 to 60 years
2. Are pensioners eligible for personal loans from Shriram Finance?
Pensioners are not eligible for personal loans from Shriram Finance.
3. Can I avail of a moratorium for my Shriram Finance personal loan EMI?
Yes, you can avail a moratorium for your Shriram Finance Personal Loan according to the guidelines of the Reserve Bank of India (RBI). However, the moratorium is voluntary and you can decide whether you want to avail of it or not. During the period of the moratorium, interest will be accrued for those months. You will need to pay that interest.
4. How does Shriram Finance Personal loan compare with those offered by other banks?
There is total transparency with regards to the rate of interest and the fees charged by us. Shriram Finance offers personal loans at the cheapest rates of interest, with no security or collateral. Shriram Finance offers loans for the longest tenures (60 months), with the flexibility provided to reduce the tenure by prepaying the loan without any penalty. The company provides finance for any personal need or requirement, the total amount being determined on the basis of repaying capacity. With the Shriram Finance Personal loan, you can choose between fixed rates of interest and floating interest rates.