Shriram Financial Services

Shriram Financial Services

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating rate of Interest : 9 % p.a. to 15% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 3 years to 20 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fees 0.00% to 1.00% depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Shriram Financial Services

Shriram housing finance is a part of the financial company, it’s headquartered in Chennai. The Shriram Housing Finance home loan is an affordable and hassle free answer to your home financing needs.This home loan may be used for any of the purposes like plot of land for the  purpose of constructing a house.

Your Eligibility depends on following


You should be minimum 21 years old

You should be maximum 65 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Make your spouse as co applicant , her/his income will also be added in eligibility
Choose longer tenure of loan period maximum upto 20 years
Add more than one co applicant if required to enhance your eligibility
Close short term loans, this will also increase your eligibility

Rate of Interest and Other Charges for Home Loan are following

Rate of Interest:

Sno.

Loan Schemes

Interest rates

1

Shriram Financial Services

9% to 15%

Existing Loan take over or New Loan

Shriram Financial Services offers loans to customer i.e. for buying new property and also to transfer their outstanding home loan balance with other banks over to Shriram financial Services at low interest rate. The main features of this transfer scheme are:

  • Low and affordable rates of interest.
  • Customers can pay out their loan as per their convenience with no prepayment fees or charges.
  • Top up facility is available under this scheme, wherein customers can top up their loan to more than 30% of their existing loan.
  • Transfer of outstanding balance is quick, simple and hassle-free.
  • To avail of this scheme customers are required to have a good loan repayment record with no missed payments for the previous 18 months on their existing loan.

Features of Loan

Features and Benefits of Shriram Housing Finance  Home Loan

  • Availability of flexible schemes for an informal segment for calculating loan eligibility.
  • Part-payment or pre-closure of loans are free of any charges.
  • You can take over any existing loan with additional finance to serve personal purposes such as higher education, marriage, medical emergency and others.
  • No any hidden charges.
  • Extensive branch network with a presence in 16 states & one union territory of India.
  • Property risk & mortality risk are taken care of through the company’s collaboration with third-party insurers.

Documents Required for applying  Home Loan  with Shriram Financial Services

  1. Signed application form with photograph
  2. Pan Card for all applicant and co applicants
  3. ID proof and residence proof for all applicant and co applicant
  4. ITRs with computation for latest 3 years
  5. Copies of Sanction letter/ Statement of account of all existing loans
  6. Other Documents required for Salaried person
    1. Salary Slip for last 6 months
    2. Bank Statement for last 6 Months
    3. Form 16 for last 2 years
    4. Relationship proof with co applicant
  7. Other Documents required for Self Employed – Proprietorship
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. Business registration certificate
    4. Office address proof
    5. Bank Statement for last 12 months
    6. Relationship proof with co applicant
  8. Other Documents required for Self Employed – Partnership Firm
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. Partnership deed
    4. Office address proof
    5. Business registration certificate
    6. Bank Statement for last 12 months
  9. Other Documents required for Company
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. MOA/AOA/COI
    4. Office address proof
    5. Business registration certificate
    6. Bank Statement for last 12 months
  10. Additional Documents required for Balance Transfer case
    1. Statement of account of existing loan
    2. List of Documents given to existing bank
    3. Foreclosure letter
  11. Property papers
    1. Complete chain of property papers along with sanctioned plan