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Shriram City Union Personal Loan are tailored to meet your financial needs. Provides a faster loan disbursal process. Repayment can be done through EMIs. Enjoy low interest rates and less paperwork. Check eligibility and apply now on CreditMantri!
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Shriram City Union: Introduction
Established in 1986 Shriram City Union is part of the three decade-old Shriram Group. Started as a deposit-accepting non-banking financial company (NBFC), Shriram City Union has transformed itself into one of India's premier financial services company specializing in retail finance. Shriram City has a comprehensive range of offerings, which has made Shriram City a dominant player in the field and the only NBFC to offer such a wide range of products under one roof.
A personal loan is an unsecured (i.e. without collateral), multi-purpose loan usually taken to cover short-term money requirements. Personal loans usually have a speedy approval process hence making it one of the most popular loans in the market.
Shriram City Union offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. For any immediate financial requirement like wedding, medical treatments, house repair, pleasure vacation etc. can be fulfilled using the personal loans offered by Shriram City Union.
Important documents to be submitted while applying for personal loans with Shriram City Union
For doctors, architects, CA, CS, ICWA, MBA consultant and engineers, the required qualification or registration proof may vary from customer to customer.
Shriram City Union provides personal loans with less paperwork and quick approval. A personal loan from Shriram City Union can help you in meeting your short-term requirements like renovating your house, wedding arrangements or a vacation. The payment mode is tailor made to suit your credit profile. The repayment tenure can range between 12 to 36 months. You can choose the tenure according to your comfort range. You can also use the personal loan EMI calculator to know the compound interest and other details.
A personal loan from Shriram City Union offers a lot features and benefits.
Objective: Shriram City Union personal loans are tailor made to meet your financial needs.
Amount Range: You can get the loan amount depending on the eligibility parameters.
Tenure: Shriram City Union provides flexible tenure of repayment ranging between 12 to 36 months.
Interest Rate: Shriram City Union provides a competitive interest rate based on your eligibility status and credit profile.
Special EMI Calculator: With a specially designed EMI calculator, you can plan out your loan requirement and achieve it comfortably.
Easy Loan Transfer: If the interest rate on your personal loanis a burden, you can switch to Shriram City Union to avail the best rate of interest.
Enjoy Hassle-Free Process: The best advantage of taking a personal loan from Shriram City Union is that the process is quick with less paperwork.
Shriram City Union personal loan is sanctioned to individuals who have the eligibility criteria that are laid down by the bank. Following are those criteria to avail Shriram City Union personal loan.
When compared to other lenders, Shriram City Union offers the best rate of interest on personal loans. The interest rates are subject to change from time to time as per the direction of the bank. Moreover, Goods and Services Tax will be charged as per the applicable rates on all charges and fees.
Your Shriram City Union personal loan can be repaid in following three ways.
Standing Instruction (SI): If you are an existing account holder with Shriram City Union, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the Shriram City Union account you specify.
Electronic Clearing Service (ECS): This mode can be used if you have a non-Shriram City Union account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.
Post-Dated Cheques (PDCs): You can submit post-dated EMI cheques from a non-Shriram City Union account at your nearest Shriram City Union Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.
It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.
1. What are my loan limits?
Your personal loan limit would be determined by your income and repayment capacity.
2. Can my spouse income be included for calculating the loan amount?
Yes, your spouse's income can be included provided he/she guarantees the loan or the loan is taken jointly.
3. Do I have to pledge some form of security?
No Security is Needed
4. What is the repayment schedule like?
The minimum amount that you are expected to pay every month is the EMI. You are allowed to pay more than the EMI if you wish to, and we do not charge any prepayment penalty.
5. What is EMI?
EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Use the EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.
6. What is the processing fee? Are there any other charges?
The processing fee is fixed by the loan provider which may vary depending on the internal policies. Processing fees have to be paid upfront. There are no hidden costs or other administrative charges.
7. Do I have the option of choosing a fixed or floating rate for the loan?
You have the option to avail the loan with either a fixed interest rate or a floating one. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the Bank's Medium-Term Lending Rate (SBMTLR).
8. How does Shriram City Union Personal loan compare with those offered by other banks?
There is total transparency with regard to the rate of interest and the fees charged by us.
Shriram City Union offers personal loans at the cheapest rates of interest, with no security or collateral
Shriram City Union offer loans for the longest tenors (60 months), with the flexibility provided to reduce the tenor by prepaying the loan without any penalty.
The Bank provides finance for any personal need or requirement; the total amount being determined on the basis of repaying capacity.
With an Shriram City Union personal loan, you can choose between fixed rates of interest and floating interest rates.
9. How can I apply for the Shriram City Union personal loan?
You can either apply online or visit the nearest Shriram City Union loan centre for a personal loan.
10. Will there be any charges for prepayment towards my Shriram City Union personal loan?
No pre-payment charges are levied towards the personal loan. You can make part-prepayment at the nearest Shriram City Union branches.
Shriram City Union provides attractive interest rates on personal loans when compared to other lenders. Low interest rate with no hidden charges makes Shriram City Union personal loans a prospective and viable option for borrowing for your urgent financial requirements. With long tenure and part-prepayment, Shriram City Union personal loans do not impose much burden on the customers.
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