Shriram Finance is one of India’s leading NBFCs (Non-Banking Financial Companies), offering a wide range of loan products, including personal loans, business loans, gold loans, and vehicle loans. With a simple “Shriram Finance loan apply” process, competitive interest rates, and quick disbursal, it has become a preferred choice for borrowers.
In this comprehensive guide, we’ll cover everything you need to know about applying for a Shriram Finance loan, including eligibility, documents required, interest rates, and step-by-step application process.
Why Choose Shriram Finance for Loans?
Shriram Finance stands out due to its:
✅ Quick Loan Approval – Minimal paperwork & fast processing.
✅ Competitive Interest Rates – Lower than many banks & NBFCs.
✅ Flexible Repayment Options – Choose EMI plans as per your convenience.
✅ Wide Range of Loan Products – Personal, business, gold, and vehicle loans.
✅ Strong Customer Support – Dedicated assistance throughout the loan process.
Types of Loans Offered by Shriram Finance
Shriram Finance provides multiple loan options:
1. Personal Loans
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Loan Amount: ₹50,000 to ₹10 Lakhs
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Interest Rate: Starting from 11% p.a.
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Tenure: 12 to 60 months
2. Business Loans
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Loan Amount: Up to ₹50 Lakhs
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Interest Rate: Competitive business loan rates
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Tenure: Flexible repayment terms
3. Gold Loans
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Loan Amount: Up to 75% of gold value
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Interest Rate: Low gold loan interest rates
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Tenure: Short-term & long-term options
4. Vehicle Loans (New & Used Cars, Two-Wheelers)
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Loan Amount: Up to 100% financing
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Interest Rate: Attractive rates for new & used vehicles
Eligibility Criteria for Shriram Finance Loan Apply
To apply for a Shriram Finance loan, you must meet the following criteria:
Personal Loan Eligibility
✔ Indian resident aged 21-60 years
✔ Minimum monthly income: ₹15,000 (varies by city)
✔ Stable employment (salaried or self-employed)
Business Loan Eligibility
✔ Business vintage of at least 3 years
✔ Profitable financial records
✔ Good credit score (600+)
Gold Loan Eligibility
✔ Ownership of 18-22 karat gold jewelry
✔ Valid ID & address proof
Documents Required for Shriram Finance Loan Apply
Here’s the list of necessary documents:
For Personal & Business Loans:
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PAN Card
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Aadhaar Card
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Bank statements (last 6 months)
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Salary slips (for salaried) / ITR (for self-employed)
For Gold Loans:
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Gold ornaments (for evaluation)
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ID & address proof
How to Apply for Shriram Finance Loan Online? (Step-by-Step Process)
Applying for a Shriram Finance loan is simple:
Method 1: Online Application
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Visit the Official Website – Go to Shriram Finance Loan Portal.
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Select Loan Type – Choose personal, business, or gold loan.
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Fill the Application Form – Enter personal, income, and loan details.
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Upload Documents – Submit scanned copies of required documents.
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Get Approval & Disbursal – Verification & loan amount credited to your account.
Method 2: Offline Application
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Visit the nearest Shriram Finance branch.
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Submit physical documents.
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Get instant approval for gold & quick loans.
Shriram Finance Loan Interest Rates (2024 Update)
Loan interest rates vary based on type & profile:
| Loan Type | Interest Rate (p.a.) |
|---|---|
| Personal Loan | 11% – 24% |
| Business Loan | 14% – 22% |
| Gold Loan | 12% – 18% |
| Vehicle Loan | 9% – 16% |
(Source: Shriram Finance Official Site)
Shriram Finance Loan EMI Calculator
Use the EMI Calculator on their website to estimate monthly payments.
Example:
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Loan Amount: ₹5 Lakhs
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Tenure: 5 Years
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Interest Rate: 15% p.a.
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EMI: ₹11,895
Tips to Get Quick Approval for Shriram Finance Loan
✔ Maintain a good credit score (650+).
✔ Keep all documents ready before applying.
✔ Apply online for faster processing.
✔ Choose the right loan type based on need.
Frequently Asked Questions (FAQs)
1. How long does Shriram Finance take to approve a loan?
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Gold loans: Same day
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Personal/business loans: 2-5 working days
2. Can I prepay my Shriram Finance loan?
Yes, but foreclosure charges may apply.
3. What is the maximum loan amount for a gold loan?
Up to 75% of the gold’s market value.
Conclusion
Applying for a Shriram Finance loan is a hassle-free process with quick approval and competitive rates. Whether you need a personal, business, gold, or vehicle loan, Shriram Finance offers flexible options. Follow the steps mentioned above and get your loan disbursed quickly!
