Shriram Finance offers a flexible and inclusive personal loan program designed to meet the varied financial needs of salaried individuals across Karnataka. With wide eligibility, attractive loan amounts, and a fully digital application process, this program is ideal for employees from both the public and private sectors.
Below is a detailed overview of the current personal loan policy for the Karnataka region.
1. Loan Amount Eligibility
- Up to ₹25 Lakhs
For salaried employees working in private companies, public sector units, government departments, schools, colleges, hospitals, trusts, and societies. - Up to ₹10 Lakhs
For employees working in proprietorship or partnership firms (firm must have an annual turnover of over ₹5 Cr). - Up to ₹6 Lakhs
For New-to-Credit (NTC) applicants with a CIBIL score of -1.
2. Salary Criteria
- Minimum Net Take Home (NTH): ₹25,001
3. CIBIL Score Criteria
- Acceptable CIBIL Score: -1 to 200 and 675+
4. Loan Tenure
- Tenure of up to 72 months available
5. Loan Eligibility
- FOIR (Fixed Obligation to Income Ratio): Up to 72%
- Multiplier Option: Up to 20 times the net monthly income
6. Rate of Interest (ROI)
- Ranges from 13.00% to 24.00%
7. Age Criteria
- Minimum Age at loan login: 22 years
- Maximum Age at loan maturity: 60 years
8. Balance Transfer Options
- Balance transfer allowed for:
- Up to 5 personal loans
- Up to 5 credit cards
9. Accepted Address Proofs
- Officially Valid Documents (OVDs)
- Additional accepted documents include:
- E-Bill
- Property Tax Receipt
- Landline Bill
10. Additional Income Consideration
Income from the following sources is also considered while calculating eligibility:
- Incentives
- Pension
- Bonus
- Rental Income
11. Company Category
- No categorization required.
- The company should be registered with MCA (Ministry of Corporate Affairs) for at least 1 year.
12. 100% Digital Journey
- Entire loan process is completely digital for a fast, paperless experience.
Note: Final approval of multiplier, FOIR, ROI, and processing fee depends on the internal App Score generated during application.
For further information or to submit eligible loan cases, please reach out to the respective Sales Managers for your region.
Shriram Finance – Powering Dreams with Flexible Personal Loans.
