Looking for a personal loan with flexible terms and a smooth digital process? Shriram Finance offers an easy, fully digital loan journey for salaried employees across sectors. Here’s a breakdown to help you understand all the key features.
✅ Loan Amount
- Up to ₹25 Lakhs for salaried individuals working in:
- Private Companies
- Public Sector
- Government Jobs
- Schools, Colleges, Hospitals
- Trusts and Societies
- Up to ₹10 Lakhs for those working in proprietorship or partnership firms
(Condition: Employer’s annual turnover should be above ₹5 Crores) - Up to ₹6 Lakhs for new-to-credit (NTC) individuals with a -1 CIBIL score
💼 Eligibility Criteria
- Net Take Home Salary: Minimum ₹25,001 per month
- CIBIL Score Accepted: From -1 to 200 and above 675
- Age Limit: Between 22 years (at loan application) and 60 years (at loan maturity)
⏳ Loan Tenure
- Repayment tenure of up to 72 months (6 years)
📈 Loan Eligibility Calculation
- Based on either:
- FOIR (Fixed Obligations to Income Ratio): Up to 72%, or
- Multiplier Method: 20 times your monthly salary
💰 Rate of Interest (ROI)
- Starts from 13.00% and goes up to 18.00%, depending on your internal score
🔄 Balance Transfer (BT)
- Can transfer up to 5 Personal Loans and 5 Credit Cards
🧾 Accepted Address Proof
- Any OVD (Officially Valid Document) is accepted
- If not available, Electricity Bill, Passport, or Landline Bill can be used
📊 Additional Income Considered
Shriram Finance also takes into account extra sources of income like:
- Incentives
- Bonuses
- Rental Income
- Pension
🏢 Company Requirements
- No need for company categorization
- Your company should simply be registered with MCA for at least 1 year
💻 100% Digital Process
- From application to disbursal – everything happens online
- Loan amount, eligibility, and interest rate are determined by your internal APP score
Final Thoughts 💡
Whether you’re new to credit or working with a less common employer type, Shriram Finance provides flexible options tailored to your profile. With no company listing requirement and consideration of extra income, your chances of approval are higher than ever!
Ready to apply? Make sure your documents are in order and your salary meets the basic requirements. The process is easy, fast, and entirely online!
