In this article, we will outline key details, features, benefits, and costs associated with Shriram Finance vehicle loans. Shriram Finance is a well-established NBFC in India offering vehicle loans for both individuals and businesses alike.
These loans are tailored to help you purchase various vehicles ranging from cars and motorcycles to commercial fleet vehicles. With Shriram Finance Vehicle Loan Details Online.
SHRIRAM FINANCE VEHICLE LOAN DETAILS ONLINE
Interest Rate:
Shriram Finance Vehicle Loan offers competitive interest rates ranging from 11.50% to 28% annually, depending on factors such as your creditworthiness and type of vehicle being purchased. The actual rate may also depend on other aspects such as loan amount.
Repayment Tenure:
Repayment Tenure for Shriram Finance vehicle loans may range anywhere from 12 to 72 months, giving borrowers flexibility in choosing an installment schedule that best meets their financial situation.
Processing Fee:
As with other forms of finance, Shriram Finance vehicle loans come with processing fees attached that must be covered as well.
Processing Fee:
Shriram Finance charges a processing fee of between 2% to 4% on your loan amount, making the service relatively cost-effective.
Quick Disbursals:
Once your application has been approved, you should receive your funds in as little as 24 hours! Plus they have physical locations in over 70 cities around India!
Presence:
Shriram Finance boasts over 2,800 branches nationwide.
Employment:
Shriram Finance offers loans for both salaried and self-employed individuals. mes
Foreclosure Charges:
If you choose to foreclose on your loan, the associated charges typically begin from 4%, depending on its specific loan scheme.
ABOUT SHRIRAM FINANCE VEHICLE LOAN
Shriram Transport Finance Company Limited (STFC), founded in 1979 and based out of Mumbai, is one of India’s foremost non-bank finance companies (NBFCs).
STFC is part of the esteemed Shriram Group and offers financing solutions for commercial vehicles, construction equipment and tractors.
STFC serves over 2.5 million individuals and small businesses throughout India. Their products and services include vehicle loans, construction equipment loans, tractor loans and insurance services.
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SHRIRAM FINANCE VEHICLE LOAN INTEREST RATES
Shriram Finance offers extremely competitive vehicle loan interest rates ranging from 11.50% to 28% per annum, depending on various factors like your type of vehicle purchase and personal profile (credit score, income structure etc). These interest rates may also depend on factors like where and when it’s being taken out.
Be mindful that these rates may change according to company policies and are at their discretion. When making an informed decision about a loan, take into account both interest and any associated fees in total cost calculations.
FACTORS AFFECTING SHRIRAM FINANCE VEHICLE LOAN INTEREST RATES
Credit Score:
To help determine your interest rate, your credit score plays a key role. A higher credit score often equates to lower rates.
Loan Amount:
Your loan amount and request play an integral role in determining the interest rate. A higher loan amount might result in higher rates.
Loan Tenure:
Generally speaking, longer loan tenures tend to result in higher interest rates while shorter terms typically have lower rates.
Vehicle Types:
Whilst vehicle types play no direct part in this determination process they do play a vital part.
Vehicle type can have an effect on your interest rate; luxury and commercial vehicles often command higher interest rates because of perceived risk.
Down Payment:
A substantial down payment can lower your rate as it reduces both loan amount and lender risk.
Income:.
Lenders often take into account your income, employment status and occupation when setting an interest rate for you.
Market Conditions:
Interest rates can also change due to inflationary pressures, economic trends or changes in lender policies.
Relationship:
When setting interest rates lenders typically consider three criteria. Firstly your income status, employment status/occupation/profession. Also the relationship with each borrower.
Existing customers who enjoy an excellent relationship with their lender may qualify for special interest rates.
FEATURES OF SHRIRAM FINANCE VEHICLE LOAN
Shriram Finance vehicle loans have many attractive features that make them suitable for prospective borrowers.
Competitive Interest Rates:
Competitive interest rates that take into account both your creditworthiness and type of vehicle you plan on purchasing.Flexible loan terms, competitive interest rates and tailored interest rates that provide great flexibility.
Flexible Loan Tenure:
Borrowers can select a repayment period to suit their financial needs, with loan tenures from 12 to 72 months available.
Low Processing Fee:
There is a low processing fee with these loans which shouldn’t add an unnecessary financial burden.
Minimal Documentation:
Minimal documentation requirements make this loan option accessible.
Application process for vehicle loans is relatively straightforward and has minimal documentation requirements, making the application process straightforward and convenient. Once your application has been approved, expect fast loan disbursal of loan amount.
Pre-Approved Offers:
In some cases you may already qualify for pre-approved offers before beginning the application process for your vehicle loan application.
Loan for New and Used Vehicles:
Shriram Finance extends pre-approved offers to eligible customers, streamlining and expediting the application process.
Loan for Personal and Commercial Vehicles:
Whilst loan products for new and used cars may offer greater flexibility for borrowers, Shriram Finance also offers loans specifically designed to cater to personal and commercial vehicles as needed.
Insurance Facility:
Shriram Finance can assist with purchasing both personal and commercial vehicles with their loan packages including an insurance facility to protect both you and your vehicle.
Important to keep in mind is that availability of these features depends upon Shriram Finance policies and is determined based on factors like creditworthiness.
ELIGIBILITY CRITERIA FOR SHRIRAM FINANCE VEHICLE LOAN
Shriram Finance sets forth certain eligibility requirements in order to grant vehicle loans:
Age:
Applicants should be at least 21 years old when their loan matures and no older than 65.
Work Experience and Employment:
At least two years of work experience and an acceptable credit score are usually needed for consideration of loan applications.
Credit Score:
An excellent credit history and score are essential.
Driving Licence:
Additionally, possessing a valid driving license is mandatory.
Residence and Office Address:
When applying, both residence and office addresses should be listed on your application form.
An established home and work address are necessary conditions of existence.
HOW TO APPLY FOR SHRIRAM FINANCE VEHICLE LOAN ONLINE
Shriram Finance makes applying for vehicle loans online easy with their convenient loan application system. Here are the steps involved:
Visit Official Site Initially, visit Shriram Finance’s official website in order to begin your vehicle loan application.
Click “Apply Now”: On our homepage, look for and click the “Apply Now” button.
Select Vehicle Loan From Our Loan List : From the list of loan options presented to you, choose Vehicle Loan as your loan type of choice.
Register Your Mobile Number: In order to gain access to the online application form, it will be necessary for you to register using your mobile number.
Complete The Application Form: Fill out and submit the online application form by providing information about yourself such as employment history and income levels.
Upload Documents: Once your application has been accepted, you will be asked to upload all necessary documents such as proof of identity, address, income and vehicle quotation.
When this step has been completed successfully, voucher details will be given out.
Visit a Shriram Finance Showroom: When applying for loans through Shriram Finance, it is necessary to visit one of their showrooms and meet with one of their representatives in person.
At this meeting, KYC documents will need to be submitted along with loan application procedures completed successfully.
Once your application has been received, the Shriram Finance Vehicle Loan team will begin processing it and reviewing your information provided.
Acceptance or rejection for loans depends on both company policy and your own creditworthiness.
HOW TO DOWNLOAD SHRIRAM FINANCE LOAN STATEMENT
Steps to Download Your Shriram Finance Loan Statement
To successfully download your loan statement from Shriram Finance, follow these steps.
Firstly, visit their Official Website (shriramfinance.in).
Log In as a Customer: In the top right corner of our homepage, look for “Customer Login“. Once clicked, log in using your User ID and Password to login.
Access Account Summary or My Accounts section once logged in and click “Account Summary” or “My Accounts.”
Its Download Statement from My Account Summary or My Accounts section and select which period/period you wish for the statement download/delivery.
Download Loan Statement in PDF Format: Your loan statement can be easily accessed in PDF format by being registered on our website and providing your loan account number and other relevant details.
If this isn’t yet the case for you, create one now by providing those same details!
SHRIRAM FINANCE VEHICLE LOAN CUSTOMER CARE
Shriram Finance vehicle loans have various customer care details depending on where you reside.
To locate specific contact information for your area, visit their official website and find “Contact Us” section.
Reach them using one of these toll free numbers:
1800 103 6369 or 1800 103 4959
For customer care services.
For inquiries that are more tailored, check the details of their regional offices.
What is a vehicle loan?
Vehicle loans are used to finance the purchase of various forms of vehicles such as cars, trucks, two-wheelers and others. A vehicle loan entails taking out an installment loan and then making regular repayments until its entirety has been cleared away.
Vehicles are frequently pledged as collateral against loans, which allows the lender to repossess it if payments are missed by borrowers.
How can I check my Shriram Finance Vehicle loan details?
Shriram Finance provides various methods to check loan details. To do this, visit its official website and log into your account; or make inquiries by SMS, email, phone call, or by visiting one of their branches.
What is the interest rate of a Shriram Finance Vehicle Loan?
Shriram Finance provides vehicle loans at highly competitive interest rates, tailored specifically to each vehicle purchased as well as factors like credit score and income structure.
Shriram Finance vehicle loans typically feature interest rates between 11.50% to 28% per annum.
What is the vehicle loan tenure for Shriram Finance?
Shriram Finance vehicle loans typically extend over an 18 to 72-month loan tenure. The exact term will depend upon your eligible loan amount, interest rate and credit profile.
What is the Shriram Finance Vehicle Loan customer care number?
Shriram Finance customer care details may differ depending on your location; however, for general inquiries regarding their products and services please use these tollfree numbers:
1800 103 6369
1800 103 4959
CONCLUSION SHRIRAM FINANCE VEHICLE LOAN
Shriram Finance Vehicle Loan offers a comprehensive range of vehicle loans at highly competitive interest rates and flexible repayment terms, making them a reliable choice to fund the purchase of your next car or motorcycle. As part of India’s esteemed Shriram Group, it has an established presence throughout India – making them an excellent source for financing vehicle purchases.
No matter what your vehicle financing needs are, Shriram Finance offers customized loans to suit them.
