Everything You Need to Know About Shriram City Union Personal Loan


When it comes to availing the personal loan, it would not be wrong to say that availing the same from a reputed lender is very important. Yes, these days, many banks, as well as NBFCs, are there in the marketplace, offering this unsecured loan. But, how many of them are trustworthy, thus to avoid the fraudulent you need to keep your eyes and ears open. Go with an expert advice or you can do some market research while comparing the top lenders.

However, to keep you away from that hassle, here we are to help you. Shriram City Union personal loan is something you need to know about before availing the credit and selecting the lender.     

Yes, that’s right! Being one of the leading names in the financial sector, it would not be wrong to say that NBFC with its best of personal loan ensures to cater the diverse needs of one and all. This lender offers loans to new as well as existing customers, in fact to the customers of other Shriram Group entities. So, to give you a better understanding of the product, we have listed below the features, highlights and a lot more about the product.

Interest Rate at a Glance

Interest Rate: 11.49%-23% per annum

Loan Amount: Up to ₹30 Lakh

Tenure:12-36 Months

Processing Fee: 2.50% of the loan amount

Prepayment Charges:As per firm’s norms

Eligibility Criteria

It is important that you should also be aware of the eligibility norms while applying for this credit facility. So, take a look below to know about the same.

  • An individual should not be less than 18 of years.
  • The maximum age of the individual at the time of loan maturity should not be more than 58 years.
  • Both salaried, as well as self-employed individuals, are eligible to apply for the loan offered by the lender.

EMI Calculator

Now, this is something you need to consider before saying yes to the lender. With this device, you can easily know whether your monthly installments are pocket-friendly or not. It helps you in knowing your EMIs, Interest Outgo and Total Amount Payable in the easiest and quickest manner. All you need to do is just enter the Loan Amount, Tenure and personal loan interest rate into the tool so that it will fetch the results/value for you. After receiving the values from the user, its algorithm instantly starts working, hence churns out the values in just a few seconds.

Let’s just understand the same with the help of an example below.

Suppose, Pulkit Gupta, a 27-year-old, a Software Engineer by profession is looking for a personal loan of 5 Lakh so as to take his family to Singapore on a family vacation. The best part is that after evaluating his profile one lender has agreed to offer him the same amount, at an interest rate of 12% for a tenure of 3 years. Now, here comes the biggest hassle for Pulkit as he really not aware what would be the exact amount of EMIs he needs to pay each month to the lender. Also, he doesn’t know whether his monthly installments would be affordable or not?

Thus, to clear his confusion, here comes an EMI Calculator into the picture, allowing him to know the exact calculations of EMIs and Interest Outgo. So, after using the device, the values are-₹ 16,607 (EMI) and ₹ 97,858 (Interest Outgo), which in Pulkit’s point of view would be pocket-friendly. Yes, he can easily afford to pay the same as his monthly income is quite good and he has no other financial liabilities.

Documents Required to Apply

Valid Proof any of the following

  • Passport
  • Driving Licence
  • Voter ID Card
  • Aadhar Card
  • PAN Card

Valid ID Proof any of the following

  • Passport
  • Driving Licence
  • Ration Card
  • Gas Bill with Gas boo
  • Minimum Tenor – 12 Months Maximum Tenor 36 months – Scheme based
  • Income Proof Documents
  • Bank Statement for last 6 months
  • Post Dated Cheques and Electronic Clearing Mandates
  • Legal Documents as stipulated by Company
  • Collateral Security as advised by Company
  • Any other document as advised by Company

Features & Benefits of Shriram City Union Personal Loan

  • Attractive Interest Rates
  • Maximum Loan Amount
  • Fastest Disbursals
  • Minimal  Documents
  • No Security
  • Easy process

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