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Personal Loan in Chennai
Chennai is a city filled with opportunities and residents often find themselves in need of financial support to achieve their dreams. At Shriram Finance, we understand that life can present unexpected expenses and having access to a personal loan in Chennai can be a game changer. We offer personal loan options tailored to your needs in Chennai. Whether you are planning a dream vacation, preparing for a wedding or dealing with a medical emergency, we are here for you. Our loans feature quick approvals and competitive interest rates, ensuring that you can access your funds when you need them the most. Our loans are unsecured letting you to borrow up to ₹10,00,000/-*
Personal Loan Types in Chennai
Shriram Finance provides a range of personal loan options in Chennai to meet various needs:
Features and Benefits of Personal Loan in Chennai
Choosing Shriram Finance for your personal loan in Chennai comes with several advantages:
Flexible Repayment Options
Collateral-free Loans
Competitive Interest Rates
Quick Approval
Seamless Experience
Regular Reminders
Personal Loan Interest Rates and Charges in Chennai
Knowing the costs associated with a personal loan in Chennai is crucial for making informed financial decisions. At Shriram Finance, we offer competitive interest rates that are both affordable and transparent.
- Our rates begin at 11%* p.a. , though they may vary depending on factors such as your credit score, income and repayment capacity.
- It's also important to be aware of other potential charges. Processing fees and prepayment penalties. We ensure clear communication throughout the application process so you know exactly what to expect.
- By understanding these costs, you can better plan your finances and select the right personal loan in Chennai. With Shriram Finance, you can confidently manage your financial journey and achieve your goals.
| Type of Fees | Applicable Charges |
|---|---|
| Interest Rate | Customised interest rates starting from 11%* p.a. |
| Processing Fees | Up to 5%* |
| Prepayment Charges | Up to 5%* |
| Late Payment Fees | 36%* p.a. |
These rates are designed to provide affordability while maintaining transparency.
How to Use the Personal Loan EMI Calculator?
To effectively plan your finances, it’s essential to have the right tools at your disposal. One such tool is the personal loan EMI calculator provided by Shriram Finance. This calculator is designed to help you understand your financial commitments better. Using the calculator is straightforward. Enter the loan amount you need to borrow, the applicable interest rate and the tenure of the loan. Once you input these details, the calculator will show you an estimate of your monthly instalments. This information is invaluable as it allows you to see how much you will need to pay each month helping you budget accordingly. Having a clear picture of your EMI can help you in making wise decisions about your borrowing options. By utilising our personal loan EMI calculator, you can take a step towards attaining your financial goals with clarity.
STEP 01
Required loan amount
STEP 02
Interest rate
Min 11%
Max 42%
STEP 03
Min 12 months
Max 60 months
Personal Loan Calculator Summary
Loan
Loan Amount
₹ 50,000
Interest Payable
₹ 3,029
Monthly EMI
₹ 4,419
Eligibility and Documentation Criteria for Personal Loan in Chennai
To be eligible for a personal loan in Chennai from Shriram Finance, ensure you meet the following criteria:
Eligibility Criteria:- Nationality: Must be an Indian resident.
- Employment Status: Salaried individuals employed with reputable organisations or self-employed professionals.
- Credit Score: A minimum score of 700 is preferred.
- Age: Applicants should be between 21* to 60* years old (on loan closure).
- Income: Minimum monthly income requirement varies based on the loan amount.
- Required Documents:
- Identity Proof
- Passport
- Driving License
- Voter ID
- PAN Card
- Address Proof
- Passport
- Driving License
- Gas Bill with Gas book
- Other Documents
- Recent passport-size colour photographs
- Income Proof Documents of Last 3 months
- Bank Statement for the last six months
- One cancelled Cheque and ACH form for the Electronic Clearing Mandate (eNACH)
Step-by-Step Application Process for Personal Loan in Chennai
Applying for a personal loan in Chennai with Shriram Finance is straightforward:
Step 1
Visit the official website or the nearest branch.Step 2
Fill out the online application form with the necessary details.Step 3
Submit the required documents for verification.Step 4
Wait for approval, which typically takes less than 24 houStep 5
Upon approval, funds will be disbursed directly to your bank account.
Our Personal Loan Branches in Chennai
Shriram Finance has established numerous branches across Chennai to streamline the process of applying for and managing personal loans. We recognise the importance of accessibility, which is why our branches are strategically located in prominent areas of the city. Whether you need help with your loan application, have queries about eligibility, or wish to explore repayment options, our team is here to support you at every stage. Visiting our branches allows you to receive personalised guidance and ensures a seamless borrowing experience. For those who find it inconvenient to visit a branch, we provide an online branch locator tool on our website. This tool helps you easily locate the nearest Shriram Finance branch. Our aim is to offer a smooth experience by combining accessibility with exceptional customer service. We strive to make borrowing straightforward and transparent for everyone in Chennai. Visit your nearest branch today and let us help you achieve your financial goals! Key locations include:<<INSERT OUR BRANCH LOCATOR INTERFACE>>
Locate Us
Personal Loan Customer Care in Chennai
For any inquiries or assistance regarding a personal loan in Chennai, Shriram Finance offers dedicated customer care services. You can reach out via phone or visit any branch for personalised support.
Personal Loan Status in Chennai
To know and stay updated with the status of your personal loan application with Shriram Finance, we offer convenient options to keep you informed. Here’s how you can track your application:
- Visit Our Website: Navigate to the official Shriram Finance website and proceed to the loan status section. Enter your application reference number to receive real-time updates on your loan's progress. This method helps you remain informed effortlessly.
- Contact Customer Care: If you prefer direct communication, our dedicated customer care team is available to help you. They can provide accurate information regarding your loan application status and address any questions you may have.
At Shriram Finance, our goal is to provide a seamless and stress-free borrowing experience. By choosing us, you benefit from competitive interest rates, flexible repayment options and exceptional customer support. Track your application today!
Personal Loan in Major Cities in India
FAQs
What are the eligibility criteria for a personal loan in Chennai?
To be eligible for a personal loan in Chennai from Shriram Finance, you must be a resident Indian aged between 21* to 60* years at the time of loan closure. Additionally, you need to provide valid identity and address proof, income documentation for the last three months and bank statements for the preceding six months.
What is the interest rate on a personal loan in Chennai?
The interest rates for a personal loan in Chennai from Shriram Finance start from 11%* p.a. , depending on various factors such as your credit score, income and repayment capacity.
Are personal loan in Chennai unsecured?
Yes, a personal loan in Chennai offered by Shriram Finance are unsecured loans, meaning they do not require any collateral. However, a good credit score is essential for approval.
Can I prepay or foreclose my personal loan in Chennai?
Yes, you can prepay or foreclose your personal loan in Chennai with Shriram Finance. However, prepayment charges may apply according to the terms and conditions of the loan agreement.
Can I apply for a personal loan online in Chennai?
Yes, you can easily apply for a personal loan online through the Shriram Finance website. The process is streamlined for convenience, allowing you to complete your application from home.
How can I check the status of my personal loan application in Chennai?
You can check the status of your personal loan application by visiting the Shriram Finance website and entering your application reference number. Alternatively, you can contact customer care for updates.
What is the minimum income required for a personal loan in Chennai?
The minimum income requirement varies based on the loan amount and individual eligibility criteria. Typically, applicants should demonstrate sufficient income to meet repayment obligations.
Are there any hidden charges for personal loan in Chennai?
Shriram Finance is committed to transparency; therefore, there are no hidden charges associated with their personal loan. All applicable fees and charges will be clearly outlined during the application process.
Disclaimer
The information provided in this guide is for educational purposes only and should not be considered financial advice. Always consult with a financial advisor before making investment decisions related to fixed deposits or any other financial products.