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Personal Loan in Motihari
Motihari is a charming city in Bihar, where personal financial needs can arise unexpectedly. Whether you're looking to fund your dream holiday, cover urgent medical expenses, or undertake home renovations, having quick access to financial resources can make a significant difference. This is where a Personal Loan in Motihari from Shriram Finance can come to your aid. Shriram Finance provides loans of up to ₹10,00,000/-*
Personal Loan Types in Motihari
When considering a Personal Loan in Motihari, it crucial to understand the various types available. Shriram Finance offers several options tailored to meet different financial needs:
Features and Benefits of Personal Loan in Motihari
Opting for a Personal Loan in Motihari from Shriram Finance comes with numerous features and benefits:
Quick Approval Process
Seamless Experience
Regular Reminders
Flexible Repayment Options
Collateral-free Loans
Competitive Interest Rates
Personal Loan Interest Rates and Charges in Motihari
Understanding the costs associated with a Personal Loan in Motihari is essential for making informed financial decisions. At Shriram Finance, we offer competitive interest rates that are easy to comprehend.
- Our rates start at 11%* p.a. *, but they may vary based on factors such as your credit score, income level, and repayment capacity. This means that your personal financial situation will influence the rate you receive.
- It also wise to consider other potential charges, such as processing fees, which can be up to 3% of the loan amount, as well as any penalties if you decide to repay your loan early. We believe in transparent communication throughout the application process so that you know exactly what to expect.
- By understanding these costs, you can plan your finances more effectively and choose the right personal loan in Motihari. With Shriram Finance, you can feel confident as you take steps towards 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 plan your finances, it's important to have the right tools with you. One such tool is the personal loan EMI calculator provided by Shriram Finance. Calculating your monthly instalments (EMI) is crucial before taking out a loan. Shriram Finance provides an easy-to-use EMI calculator on their website. Here's how to use it:
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 Motihari
To apply for a Personal Loan in Motihari, 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 Motihari
Applying for a personal loan in Motihari 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 Motihari
Shriram Finance has set up several branches across Motihari to streamline the application and management of personal loans. We recognise the importance of having convenient access to our services, which is why our branches are strategically situated in key areas of the city. If you need assistance with your loan application, have queries regarding eligibility, or wish to learn more about repayment options, our team is here to support you at every stage. You can visit us in person for personalised assistance, ensuring a smooth borrowing experience. Our objective is to provide a seamless experience by combining accessibility with outstanding customer service. We aim to make borrowing straightforward and transparent for everyone in Motihari. Visit your nearest branch today, and let us help you achieve your financial goals! Key locations include:
Locate Us
Personal Loan Customer Care in Motihari
If you have any questions or require help regarding a personal loan in Motihari, Shriram Finance offers dedicated customer care services. You can easily reach out by phone or visit any of our branches for tailored support.
Personal Loan Status in Motihari
To monitor the status of your personal loan application with Shriram Finance, we provide simple and quick options to keep you informed. Here how you can track your application:
- Visit Our Website: Navigate to the official Shriram Finance site and go to the loan status section. Enter your application reference number to receive real-time updates on your loan's progress, keeping you informed without any hassle.
- Contact Customer Care: If you prefer speaking directly with a representative, our dedicated customer care team is ready to assist you by providing accurate information about your loan application status and answering any questions you may have.
At Shriram Finance, we strive to deliver a smooth and stress-free borrowing experience. By choosing us, you'll benefit from competitive interest rates along with 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 Motihari?
To qualify for a personal loan in Motihari from Shriram Finance, you must be an Indian resident aged between 21* to 60* years at the time of loan closure. Additionally, you will need valid identity and address proof, income documentation for the last three months, and bank statements for the past six months.
What is the interest rate on a personal loan in Motihari?
The interest rates for a personal loan in Motihari from Shriram Finance start at 11%* p.a. , depending on various factors such as your credit score, income, and repayment capacity.
Are personal loan in Motihari unsecured?
Yes, personal loan in Motihari offered by Shriram Finance are unsecured loans, meaning they do not require any collateral; however, having a good credit score is crucial for approval.
Can I prepay or foreclose my personal loan in Motihari?
Yes, you can prepay or foreclose your personal loan in Motihari with Shriram Finance; however, prepayment charges may apply according to the terms outlined in the loan agreement.
Can I apply for a personal loan online in Motihari?
Absolutely! You can easily apply for a personal loan online through the Shriram Finance website; this process is designed for convenience so that you can complete your application from home.
How can I check the status of my personal loan application in Motihari?
You can check the status of your personal loan application by visiting the Shriram Finance website and entering your application reference number; alternatively, contact customer care for updates.
What is the minimum income required for a personal loan in Motihari?
The minimum income requirement varies based on the loan amount and individual eligibility criteria; generally, applicants should demonstrate sufficient income to meet their repayment obligations.
Are there any hidden charges for a personal loan in Motihari?
Shriram Finance is committed to transparency; therefore there are no hidden charges associated with their personal loanall applicable fees and charges will be clearly stated 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.