Get Loans with Ease at Shriram Personal Loans

Getting a loan, regardless of whether it is personal, vehicle or home loan is a herculean task. It requires one to fill excruciating long forms, constant visits to the bank and the pain to get all the documents needed to fulfil the formalities before you are sanctioned a loan. It is hence crucial to make a good choice of who you can lay your trust with, especially when it comes to Shriram finance personal loan.

Overview of Shriram Personal loans

The Shriram personal loans are the most useful for those who decide to avail of them. The loans make sure to keep up with the needs of people in today’s day and age as needs change with changing times. The requirement of loans is different from person to person based on why they want it. Out of all the different kinds of loans available, a personal loan, as the name suggests is taken to fulfil a more personal need such as buying a house or a car. The reasons to take a personal loan might be many; it could be for financing a launch of an important dream project, for a wedding, to be able to collect a larger sum of money in a smaller amount of time for emergencies and many others. Such needs might arise to each one of us at any time with very short notice beforehand but require your immediate attention for a solution and Shriram personal loans is the best place for one. Providing loans with a reasonable rate of interest, personal loans take you a step closer to your dreams which you might have given up on otherwise.

Features of the Shriram Personal Loans

The better understanding of the Shriram finance loan details will help you get a clearer idea before applying for a loan. Here are some of its features

  • The Shriram finance Chennai loan can be applied for by those who get a salary as well as those who are self-employed. In case a person gets a salary one can apply for the loan after a year of work, if one is self-employed then they can apply for the loan after two years.
  • The loan will have to be repaid for with a fixed amount every month as instalments which is calculated by the Shriram finance personal loan EMI calculator.
  • The person applying for a loan must be living in the same residence for over a year. The place that he resides in will be the same address that he has provided as the address proof of the loan.
  • Once the loan has been granted to a person, he/she needs to repay the amount within a period of 12 months to 36 months. The exact amount of time would depend on the scheme that is decided by the bank depending on the amount of money taken.

These multiple features aid those who are hesitant before taking a loan. Shriram finance Chennai bank understands the unique personal requirement of each and every individual and hence has a variety of schemes that suits everyone. The Shriram city finance personal loan schemes are crafted in such a manner so they come in handy to anyone who falls short of money at crucial situations.

Eligibility for Shriram Personal Loan

The eligibility criteria to apply for the Shriram personal loan are as follows:

  • The person applying should be a resident of India
  • He/she should be of a minimum age of 21 years
  • To take a loan, the bank decides the eligibility of a person on the basis of his capability to repay for it in the form of loans. In other words, the bank has the final say in whether a person is eligible to apply for the loan or not.
  • The applicant should be paid by salary or be self-employed to be able to have a Shriram city union personal loan.

The Required Documents to avail the Shriram Personal Loan

Submitting the following documents to the bank is mandatory to be able to apply for the personal loan with a reasonable Shriram finance personal loan interest rate.

  • An identity proof which could be a pan card, a voter ID card, driving license, passport or Aadhar card.
  • Anything that proves as an address proof such as a password, gas bills, ration card, etc. also need to be given.
  • Documents that show your income proof.
  • Your bank statement for the previous 6 months.
  • Post-dated cheques and any other documents that Shriram deems to be necessary.
  • Collateral security that the bank requires to sanction the loan.

Benefits that one receives from the personal loan by Shriram Finance

There are many benefits that one gains by getting a personal loan through Shriram Finance, some of them is as follows,

  • The schemes provided are flexible and are suitable for people with all kinds of needs. Such individually crafted schemes help each individual pay instalments based on the amount borrowed from the bank.
  • Unlike other banks, Shriram Finance does not cost any penalty charges to the borrowers.
  • The amount of money being charged is clearly stated to the person, and no extra or unknown amount is charged
  • As Shriram Finance is present in 17 states in India, anyone can apply and make use of  these benefits.


  1. What is the amount of rate of interest charged for the loan?

The rate of interest charged varies depending on the type and scheme of loan that you have applied for. Any further queries can be clarified by calling the Shriram finance personal loan contact number.

  1. What documents do I need to submit to apply for a loan?

You will need to submit an address proof, an identity proof, income proof and any other document that the bank requires you to present.

  1. What will happen if I fail to pay the EMI on time?

It is advisable to pay the EMI before the due date because your credit facilities could be affected by lack of payment.

  1. How can I apply for Shriram personal loan?

You can apply for the loan in your nearest bank or simply from the comfort of your home online through

  1. Will I be able to get requirements and details to apply for the personal loan online?

Yes, you will be able to check the eligibility and requirements and also have online support for any doubts you may have.