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Personal Loan in Ludhiana
Ludhiana is renowned for its strong industrial background and vibrant marketplaces. As one of the largest cities in the region, it beautifully combines tradition with modernity, making it a perfect place for personal dreams to come true. Whether You're organising a family gathering, facing unexpected medical costs, or planning to renovate your home, having quick access to funds can significantly impact your situation. This is where a Personal Loan in Ludhiana from Shriram Finance can be incredibly helpful. With loans available for amounts up to âı10,00,000/-*
Personal Loan Types in Ludhiana
When considering a Personal Loan in Ludhiana, it's essential to understand the various options available. Shriram Finance offers several types of loans tailored to meet different financial needs:
Features and Benefits of Personal Loan in Ludhiana
Choosing a Personal Loan in Ludhiana from Shriram Finance comes with numerous advantages:
Collateral-free Loans
Quick Approval Process
Regular Reminders
Flexible Repayment Options
Seamless Experience
Competitive Interest Rates
Personal Loan Interest Rates and Charges in Ludhiana
Understanding the costs associated with a Personal Loan in Ludhiana is essential for making smart financial decisions. At Shriram Finance, we provide competitive interest rates that are easy to understand.
- Our rates start at 11%* p.a.âŻ*, but they may vary based on factors such as your credit score, income, and repayment ability. This means that your individual financial profile will affect the rate you receive.
- It's also important to be aware of other possible charges, such as processing fees, which can be up to 3% of the loan amount, and any penalties if you decide to pay off your loan early. We prioritise clear communication throughout the application process so that you know exactly what to expect.
- By understanding these costs, you can better plan your finances and choose the right personal loan in Ludhiana. With Shriram Finance, you can feel confident as you take steps toward achieving your financial 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 manage your finances, it's important to have the right tools at hand. One useful tool is the personal loan EMI calculator provided by Shriram Finance. Calculating your monthly payments (EMI) is vital before taking out a loan. Shriram Finance offers an easy-to-use EMI calculator on their website. Hereâs how it works: ⢠Enter Loan Amount: Specify how much money you wish to borrow. ⢠Select Tenure: Choose your desired repayment period (12 to 60 months
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
âı 50,000
Interest Payable
âı 3,029
Monthly EMI
âı 4,419
Eligibility and Documentation Criteria for Personal Loan in Ludhiana
To apply for a Personal Loan in Ludhiana, certain eligibility criteria is important:
Eligibility Criteria:- Age: Applicants should be between 21* to 60* years old (on loan closure).
- Nationality: Must be an Indian resident.
- Income: The minimum monthly income requirement varies based on the loan amount.
- Employment Status: Salaried individuals employed with reputable organisations or self-employed professionals.
- Credit Score: A minimum score of 700 is preferred.
- 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 for 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 Ludhiana
Applying for a personal loan in Ludhiana 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 Ludhiana
Shriram Finance has established several branches across Ludhiana to make applying for and managing personal loans easy and convenient. We understand that having access to our services is important, which is why our branches are located in key areas throughout the city. If you need assistance with your loan application, have questions about eligibility, or want more information about repayment options, our team is here to support you every step of the way. You can visit us in person for personalised assistance, ensuring a smooth borrowing experience. For those who find it difficult to visit a branch, we also provide an online branch locator tool on our website that helps you quickly find the nearest Shriram Finance branch. We aim to deliver an exceptional experience by combining easy access with great customer service. Our goal is to make borrowing simple and transparent for everyone in Ludhiana. Visit your nearest branch today, and let us help you achieve your financial goals! Key locations include:
Locate Us
Personal Loan Customer Care in Ludhiana
If you have any questions or need assistance regarding a personal loan in Ludhiana, Shriram Finance offers dedicated customer care services. You can easily reach out by phone or visit any of our branches for personalised support.
Personal Loan Status in Ludhiana
To check the status of your personal loan application with Shriram Finance, we provide simple ways to keep you updated. Here how you can track your application:
- Visit Our Website: Go to the official Shriram Finance site and find the loan status section. Enter your application reference number to get real-time updates on how your loan is progressing; this way, you'll stay informed without any hassle.
- Contact Customer Care: If you'd prefer speaking directly with someone, our dedicated customer care team is ready to assist you by providing accurate information about your loan application status and answering any questions you might have.
At Shriram Finance, we strive for a smooth and stress-free borrowing experience. By choosing us, you'll enjoy competitive interest rates along with flexible repayment options and excellent customer support. Track your application today!
Personal Loan in Major Cities in India
FAQs
What are the eligibility criteria for a personal loan in Ludhiana?
To qualify for a personal loan in Ludhiana from Shriram Finance, you must be an Indian resident aged between 21* to 60* years at the time of loan closure. Additionally, valid identity proof, address proof, income documentation from the last three months, and bank statements from the past six months are required.
What is the interest rate on a personal loan in Ludhiana?
The interest rates for a personal loan in Ludhiana from Shriram Finance start at 11%* p.a.âŻ, depending on various factors such as credit score, income level, and repayment capacity.
Are personal loans in Ludhiana unsecured?
Yes, personal loans offered by Shriram Finance in Ludhiana are unsecured loans; this means they do not require collateral but having a good credit score is essential for approval.
Can I prepay or foreclose my personal loan in Ludhiana?
Yes, prepayment or foreclosure of your personal loan in Ludhiana with Shriram Finance is possible; however, prepayment charges may apply according to terms outlined in the loan agreement.
Can I apply for a personal loan online in Ludhiana?
Absolutely! You can easily apply online through the Shriram Finance website; this process has been designed for convenience so that you can complete your application from home.
How can I check my personal loan application status in Ludhiana?
You can check your application status by visiting the Shriram Finance website and entering your application reference number; alternatively, contacting customer care will also provide updates.
What is the minimum income required for a personal loan in Ludhiana?
The minimum income requirement varies based on both loan amount and individual eligibility criteria; generally speaking, applicants should demonstrate sufficient income to meet their repayment obligations.
Are there any hidden charges associated with a personal loan in Ludhiana?
Shriram Finance values transparency; therefore there are no hidden charges related to their personal loansall applicable fees 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.