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Shriram Finance Personal Loan

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Are you planning to take a personal loan? What's the purpose — upcoming wedding, planning vacation, meeting medical expenses or for debt consolidation? If yes, then you can simply apply for a personal loan online from Shriram Finance at interest rates starting from 11% p.a. Moreover, if you are a pre-approved customer then you may get a personal loan instantly at preferential interest rates with no documentation check.

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Updated: 23-04-2025 04:44:58 AM
Shriram Finance Personal Loan – Highlights
Interest Rate 11% p.a. onwards
Loan Amount Up to Rs. 10 lakh
Repayment Tenure Up to 5 years
Processing Fees Up to 5% of the sanctioned loan amount
Loan Process End-to-End Digital and Paperless

Note: Interest Rate updated as of 22 April 2025.

Shriram Finance Personal Loan Interest Rates in 2025

Shriram Finance Personal Loan interest rates start from 11% p.a. depending upon various factors, such as applicant’s credit score, income, age, location, employment stability, existing credit, employer’s profile, and loan amount and tenure. You can apply for Shriram Finance personal loans online on Paisabazaar and get instant approval with minimum documentation.

Types of Personal Loans offered by Shriram Finance

​Shriram Finance offers a wide range of personal loan products to meet various urgent financial needs of its customers. Find below the loan types that are unsecured, requiring no collateral, and come with flexible repayment options:

  • Wedding Loan
  • Travel Loan
  • Home Renovation Loan
  • Personal Loan for Students
  • Medical Emergency Loan
  • Consumer Durable Loan
  • Personal Loan for Women
  • Festival loan
  • Personal loan for your child(s) future

Eligibility Criteria

The personal loan eligibility criteria set for applicants availing Shriram Finance Personal Loans are as follows:

  • Resident Indians are eligible
  • Age: 21 years (at the time of loan application) to 60 years (at the time of loan maturity)

Documents Required

The personal loan documents required for Shriram Finance, based on your employment, profession or occupation are mentioned below:

Identity Proof: PAN card, Passport, Driving License, Voter ID (Any One)

Address Proof: Passport, Driving License, Gas bill with gas book (Any One)

Other Documents: (Any One)

  • Income Proof Documents of last 3 months
  • Last 6 months’ bank statement
  • One cancelled Cheque and ACH form for the Electronic Clearing Mandate (eNACH)

Fees & Charges

​Shriram Finance imposes several fees and charges on its personal loans. Read on for the detailed breakdown:​

Particulars Charges
Processing Fees Up to 5% of the loan amount
Foreclosure Charges Up to 4% (lock in period of 12 months from the date of 1st EMI)
The NBFC also charges additional 2% of the loan is taken over by other financer
Documentation Charges Up to Rs 3,000
Penal Charges 36% p.a. on overdue unpaid on EMIs in arrears
Auction Charges At Actuals
Cancellation of Loan Charge Charges collected until cancellation will not be
refunded to the borrowers. Pro-rata interest will be charged up to cancellation
Cheque and NACH Swap Charges Up to Rs 500
Statement & Other Document retrieval Charges Up to Rs 500
Cheque Bounce Charges Rs. 1,000 per instance
Collection Charges Rs. 500

Note: Additional GST and other cess shall be charged as applicable on the above-mentioned fees and charges.

Who Should Apply for Shriram Finance Personal Loan?

If you are an Indian resident and aged between 21 years to 60 years, then you are eligible to apply for Shriram Finance Personal Loan. Salaried individuals and self-employed professionals and non-professionals are eligible to apply for personal loan.

 

FAQs on Shriram Finance Personal Loan

What are the current interest rates for Shriram Finance personal loans?

You can avail personal loans from Shriram Finance at an interest rate of 11% p.a. onwards.

What is the maximum personal loan amount I can get from Shriram Finance?

You can avail personal loan of up to Rs. 10 lakh to meet your urgent financial requirements.

Can I use a Shriram Finance personal loan for business or home renovation?

If you want to avail loan for business purpose then you may opt for regular business loan, MSME loan or working capital loan, but for home renovation availing a personal loan is an ideal and wise option.

How do I apply for a personal loan with Shriram Finance through Paisabazaar?

To apply for a personal loan with Shriram Finance through Paisabazaar, you need to visit its website or mobile app, enter your mobile number and authenticate with the received OTP. Further, you may mention your personal details; choose the loan product from available options and proceed to finalise on the personal loan from the respective lender.

Can I get instant approval on Shriram Finance personal loans?

Yes, only if you are a pre-approved customer of the NBFC then you are eligible to avail instant loan approval with quick disbursal and no documents check.

What documents are needed if I am self-employed?

The documents required remain the same, if you are a salaried or self-employed individual. However, the lender may check all the provided documents at the time of loan application submission and request for additional documents, if required.

Are there any prepayment or foreclosure charges?

The foreclosure/prepayment charges levied by the NBFC is up to 4%, wherein the lock-in period is of 12 months from the date of 1st EMI.

How do I check the status of my personal loan application?

You can check the status of your Shriram Finance Personal Loan application by visiting any of the lender’s branches or calling on their Toll-free customer care numbers. Alternatively, you can also visit the Shriram Finance’s official website to check the status of your personal loan application.

 

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