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Personal Loan in Ratlam
The historic city of Ratlam, known for its culture and trade, also presents moments when a financial boost can be invaluable. For residents, a personal loan in Ratlam provides a practical means to address a range of financial requirements. From covering unexpected medical expenses to investing in your children's education or renovating your home, Shriram Finance is here to assist. With Shriram Finance, you can access personal loans with appealing interest rates, starting at 11%* p.a. , making borrowing more affordable. You can borrow up to ₹10,00,000/-* without needing to provide any security, giving you peace of mind. With repayment periods ranging from 12 to 60 months, you can choose a plan that fits comfortably within your monthly budget. The online application process is simple and convenient, allowing you to apply from anywhere without the hassle of excessive paperwork. Once approved, the loan amount is quickly disbursed, ensuring you have the funds you need promptly. To help you stay on track with your repayments, Shriram Finance provides timely EMI reminde Whether it's an unforeseen event or a planned investment, discover how a personal loan in Ratlam can offer the financial flexibility you need.
Personal Loan Types in Ratlam
Shriram Finance offers a variety of options for a personal loan in Ratlam to cater to different needs:
Features and Benefits of Personal Loan in Ratlam
Choosing Shriram Finance for your personal loan in Ratlam comes with several advantages:
Quick Approval
Collateral-free Loans
Competitive Interest Rates
Regular Reminders
Seamless Experience
Flexible Repayment Options
Personal Loan Interest Rates and Charges in Ratlam
For residents of Ratlam considering a personal loan in Ratlam, understanding the interest rates and charges is essential. Shriram Finance offers personal loans with competitive interest rates starting at 11%* p.a.
- Your individual interest rate will depend on factors such as your credit score, income, and ability to repay the loan. It's also important to be aware of possible processing fees and prepayment/foreclosure charges.
- At Shriram Finance, we believe in clear communication, ensuring that all charges are explained upfront.
| 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
An EMI calculator makes planning your personal loan repayments simple. Shriram Finance online calculator lets you compare different repayment options and choose the one that works best for your financial circumstances. Just enter the amount you want to borrow, the interest rate, and the length of the repayment period. The calculator will quickly work out your EMI.
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 Ratlam
To qualify for a personal loan in Ratlam from Shriram Finance, make sure 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 Ratlam
Applying for a personal loan in Ratlam 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 usually takes less than 24 houStep 5
Upon approval, funds will be disbursed directly to your bank account.
Our Personal Loan Branches in Ratlam
Shriram Finance is committed to ensuring a smooth and transparent personal loan experience in Ratlam. Our dedicated team at the branch are available to assist with any questions you may have and guide you through the loan application procedure. We can also help you choose the most suitable borrowing option, tailored to your individual needs. For personalised support, we invite you to visit our Ratlam branch. You can easily find the location of your nearest branch using our online branch locator. We strive to make your loan journey as simple and hassle-free as possible. Take the first step today and visit your nearest branch to find out more!
Locate Us
Personal Loan Customer Care in Ratlam
If you need assistance with your personal loan in Ratlam, our dedicated customer support team is available to assist you. You can get in touch with us by phone or visit one of our conveniently located branches for personal assistance. Whether you have queries regarding your loan application, repayments, or any other issues, we're here to help.
Personal Loan Status in Ratlam
Keeping track of your personal loan application status in Ratlam is hassle-free with Shriram Finance. You have two convenient ways to check your status:
- Check Our Website: Visit the Shriram Finance website and enter your reference number for instant updates.
- Contact Customer Support: Get in touch with our team for personalised assistance regarding your loan application.
We ensure a smooth and transparent process, keeping you informed at every stage.
Personal Loan in Major Cities in India
FAQs
What are the eligibility criteria for a personal loan in Ratlam?
To be eligible, you must be a resident Indian, and your age must be between 21* to 60* years at the end of the loan term. Also, you'll need to provide valid identity and address verification, as well as income verification and bank statements covering the previous six months.
What is the interest rate on a personal loan in Ratlam?
Interest rates for personal loans from Shriram Finance start at 11%* p.a. The final rate will depend on factors such as your credit history and your capacity to repay the loan.
Is a personal loan in Ratlam unsecured?
Yes, Shriram Finance offers personal loans without requiring any collateral. A strong credit score may improve your chances of being approved.
Can I prepay or foreclose my personal loan in Ratlam?
Yes, you have the option to prepay your loan or foreclose it entirely6. Do bear in mind, though, that prepayment charges may apply as per the terms of your loan agreement.
Can I apply for a personal loan online in Ratlam?
Yes, you can submit your application online via the Shriram Finance website, which makes the process both fast and convenient.
How can I check the status of my personal loan application in Ratlam?
To find out the status of your loan application, please contact our customer support team. You can also use your reference number on the official website of Shriram Finance.
What is the minimum income required for a personal loan in Ratlam?
The minimum income requirement varies depending on the loan amount requested. You need to demonstrate that you have enough income to comfortably manage your repayments.
Are there any hidden charges for a personal loan in Ratlam?
No, Shriram Finance is dedicated to transparency. So, all applicable charges will be fully disclosed 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.