🚀 Fincover® App is Now Live!
Join 10 Million+ users on web – now available on mobile!
Pre-loan Eligibility checker
Last updated on: July 22, 2025
Author
Read Bio
Reviewed by
Read BioThe personal loans, offered by Shriram Finance, are intended to make your dreams come true or have necessary and pressing emergency spending. As the company has laid down minimum requirements for loan eligibility, low interest rates along with fast turnaround time to disburse funds, Shriram Finance can facilitate a smooth credit to fit your requirement perfectly.
| Eligibility Criteria | Requirement |
|---|---|
| Age | 21 to 60 years |
| Documents Required | Last 3 months’ salary slips, bank statement, KYC |
| Minimum Work Experience | 2 years |
| Credit Score | 750+ |
| Loan Amount | Up to ₹10 Lakhs |
| Document Type | Examples |
|---|---|
| ID Proof | Passport, Driving License, Voter ID, PAN Card |
| Address Proof | Passport, Driving License |
| Photograph | Recent passport-size photograph |
| Salary Certificate | Last 3 months’ salary slips and bank statements |
| Other Documents | Cancelled cheque, ACH form |
| Transaction | Charges (₹) |
|---|---|
| Interest Rate | 11% to 42% |
| Loan Processing Fee | Up to 5% of the loan amount |
| Foreclosure Charges | Up to 4% of the principal outstanding + GST |
| Cheque Bounce Charge | ₹1000 |
| NOC Issuance | ₹500 |
| Loan Cancellation | 4% of the disbursed loan amount + taxes |
| Collection Charges | ₹500 |
1. At what age can one apply for a personal loan?
Applicants must be within 21-60 years old while applying for a personal loan
2. Can I get a personal loan with a low credit score?
While a higher credit score is usually preferred, Shriram Finance at certain instances may provide loan based on your existing relationship with them and your repaying ability. However, issuing such loans for lower credit score is certainly at the discretion of the user
3. Does Shriram Finance provide personal loan for self-employed people?
Yes, self-employed people can also get personal loan. However, salaried employees are given first preference, Shriram Finance may issue personal loan to self-employed after having their own set of eligibility
4. Are there some service charges on the processes of getting the loan?
Yes, Shriram Finance expects a nominal processing fee of upto 5% of the loan amount
5. How long does the loan approval process take?
Shriram Finance typically processes personal loan applications within 3–5 working days, provided all documents are in order
Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.
Prem Anand is a seasoned content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors. He has a strong command of industry-specific language and compliance regulations. He specializes in writing insightful blog posts, detailed articles, and content that educates and engages the Indian audience.
The content is prepared by thoroughly researching multiple trustworthy sources such as official websites, financial portals, customer reviews, policy documents and IRDAI guidelines. The goal is to bring accurate and reader-friendly insights.
This content is created to help readers make informed decisions. It aims to simplify complex insurance and finance topics so that you can understand your options clearly and take the right steps with confidence. Every article is written keeping transparency, clarity, and trust in mind.
Based on Google's Helpful Content System, this article emphasizes user value, transparency, and accuracy. It incorporates principles of E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness).
Loved by 1M+ users. Start your financial journey today!
