Shriram Finance offers personal loans to those individuals who do not have an easy access to banks or other financial institutions. Shriram Finance personal loan offers instant funds to those salaried and self- employed individuals who are old customers, existing customers and customers of other Shriram Group entities.
Shriram Housing Finance Personal Loan - Features and Benefits
- Flexible tenure: The tenure to repay Shriram Finance personal loan varies from 12 months to 36 months. You can decide the desired tenure as per your repayment ability
- Quick disbursal:Shriram Finance is an ideal option to opt for if you require short or medium finance immediately as the loan amount is disbursed to your account quickly
- Hassle- free process: The process to apply for Shriram Finance personal loan is hassle- free and can be completed online
- Minimum paperwork: Shriram Bank requires you to submit minimum documents if you wish to avail a personal loan
Shriram Housing Finance Personal Loan - Interest Rate
The interest rate offered by Shriram Finance on a personal loan is based on the scheme selected by an individual and varies from person to person. However, an interest rate offered to an individual on a personal loan is also influenced by various factors like his age, credit score, repayment history, employer, etc.
Shriram Housing Finance Personal Loan - Eligibility Criteria
- You should be a salaried professional or a self- employed individual
- If you are a salaried professional, you should be employed for a minimum period of 1 year and if you are a self- employed individual, your employment should be at least of 2 years
- You should be in the same residence for a minimum period of 1 year
- You should also meet the minimum income criteria set by Shriram Housing Finance. To know about the minimum income criteria, you will have to visit the nearest branch
Shriram Housing Finance Personal Loan - Documents Required
- Identity proof: Passport, Voter ID Card, Driving License, Aadhar Card, PAN Card
- Address proof: Driving License, Passport, NREGA Card, Gas Bill with Gas Book
- Bank statement for last 6 months
- Income proof documents
- Post dated cheques and electronic clearing mandates
- Collateral Security as advised by Shriram City Union Finance
- Legal Documents as stipulated by Shriram City Union Finance Limited
- Any other document as advised by Shriram City Union Finance
Shriram Housing Finance Personal Loan - EMI Calculator
It is advisable to calculate your EMIs before applying for a personal loan as you get an idea of how much EMI would you be paying every month and will also be able to plan your expenses accordingly. Finding an EMI that best suits your requirement through manual calculations is a tough task and that is why Paisabazaar.com offers you a Personal Loan EMI calculator that helps you find an EMI (Equated Monthly Instalments) as per your eligibility. To know your EMI scroll the bar to the desired:
- Loan amount
- Interest rate
Compare Shriram Housing Finance Personal Loan VS Other Lenders
|Particulars||Shriram Housing Finance||Yes Bank||HDFC Bank||Citi Bank||Axis Bank||ICICI Bank||Bajaj Finserv|
|Interest Rate||As per the scheme selected by an individual||Starting from 10.75%||11.25% to 21.50%||Starting from 10.99%||11.49% to 17.49%||11.50% to 19.25%||Starting from 12.99%|
|Tenure||12 to 36 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months|
|Loan amount||Contact Shriram Housing Finance to know about the same||Upto Rs. 40 lakh||Upto Rs. 40 lakh||Upto Rs. 30 lakh||Rs. 50,000 to Rs. 15 lakh||Upto Rs. 20 lakh||Upto Rs. 25 lakh|
|Processing Fee||Contact Shriram Housing Finance to know about the same||Up to 2.50% of the loan amount plus GST||Upto 2.50% of the loan amount||Upto 3% of the loan amount||2% of loan amount plus GST||Upto 2.25% of loan amount plus GST||Up to 3.99% of the loan amount|
|Apply Now||Apply Now||Apply Now||Apply Now||Apply Now||Apply Now||Apply Now|
How do I repay Shriram Housing Finance personal loan?
You can repay the personal loan through EMI. The repayment period varies from 12 to 36 months.
Is it possible for an individual who has already taken a loan from another bank to apply for a personal loan at Shriram Housing Finance?
Yes, it is possible for an individual to avail Shriram Housing Finance personal loan if he has taken a loan from any other bank. The only condition is to submit the declaration of existing loan before applying for a new one.
What if I miss an EMI?
You might have to pay a late fee and your credit score may also decrease.
I am a self - employed teacher and own a coaching institute. Can I avail Shriram Housing Finance personal loan?
Yes, you can avail Shriram Housing Finance, if you meet the eligibility criteria.
How can I apply for Shriram Housing Finance personal loan offline?
You can call the customer care at 1800 103 6369 to apply for Shriram Housing Finance personal loan offline.