Shriram Finance Personal Loans- Make Your Dreams 'reality'
A personal loan is borrowing money from the bank or some financial institution to fulfil own personal needs like payment of school fees, marriage of daughter or son, planning a vacation , or renewing the house etc. This credit can be availed for different purposes. A credit can be useful in the making of financial strategies. It should be used properly.
It is the most versatile financial products in the banking industry. Traditional lenders such as banks and large financial institutions issue credits of various amounts according to the needs and wants of the consumers. Micro loans are also provided for very small day to day operation. The online banking industry is a booming arena nowadays.
If you want to borrow money and you are ready to pay back a fixed amount every month as installments at very favourable interest rates, then for you Shriram Finance personal loans is one of the best option. By availing this credit you can send your children abroad for higher studies, unexpected expenditures, renovating your own house or debt consolidation.
For Shriram Finance personal loans even the customers who do not have easy access to banks and financial institutions for speedy finance can borrow money with easy and simple steps. It is a leading Indian company engaged in offering financial services to all individuals as well business firms. Financial experts also suggest that taking this credit for an appreciating asset is a good use of debt.
The popularity of Shriram Finance personal loan is being constantly rising. It is an effective way to tackle short to medium term financial difficulties. It is a type of unsecuredcredit. It offers credit for both salaried as well as self employed persons.it offers the credit at very genuine and compatible interest rates. The interest rates depends upon the income, credit and CIBIL score of the customer.
Benefits of Shriram Finance personal loans
Unsecured Loans: The credit offered by this bank is absolutely unsecured which is very beneficial for the customers or applicants. The benefit of this unsecured credit is that the applicant do not have to submit any collateral security such as property, gold etc against the credit amount.
Low Interest rates: The interest rates charged by this bank are comparatively low than many other banks. The minimum interest rates that will be charged on the credit amount are at the rate 11.49 per cent per and the maximum rates that can be charged at the rate of 23 per cent per annum.
Flexible loan tenure: The minimum credit tenure in which the applicant can repay the credit amount is 12 months and the maximum credit amount in which the applicant can repay the whole credit amount along with the interest rates is upto 36 months (3 years).
Maximum loan amount: The maximum amount of credit that can be availed by the applicant for his personal expenses is upto 10 lakhs INR. The amount that will be borrowed by the applicant also depends upon his eligibility as well as CIBIL score.
Minimum loan amount: The lowest credit amount that can be borrowed by the applicant is 50 thousand INR.
Processing fee: The processing fee that will be on the credit processing is very less. It is just 2.5 per cent will is the maximum fee. It will be charged according to the amount of credit and tenure of the credit.
Eligibility criteria for Shriram finance personal loans
Category: Any salaried employee or government or private corporation, self employed, professional or any partnership firm can apply for the credit in this bank.
Age: The applicant should be minimum 18 years old and can be maximum 58 years old in case of salaried employee to be eligible for the credit. The minimum age should be 21 years and maximum age can be 65 years in case of any self employed or professional person.
Current Working experience: Applicant should be employed for a minimum period of 1 year in case of a salaried employee and in case of self employed or professional the minimum work experience of 2 years in the same business is required.
Residence: The applicant should the resident of the same area or town at least from the last 1 year.
Documents required for Shriram Finance personal loans