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Discover Shriram Finance personal loan options for borrowers with low CIBIL scores, including eligibility, loan amount, interest rates, fees, and application...

📅 Updated 19 Jun 2024

📂 Category Sarkari Yojana

🔥 Status LATEST UPDATE

Shriram Finance Personal Loan for Low CIBIL Score – Complete Guide

Shriram Finance offers a digital personal loan solution tailored for applicants with a CIBIL score below 300. Registered under RBI Section 45, this loan provides a trustworthy alternative for those who replace it difficult to secure credit through traditional banks. Below is a comprehensive overview of the loan features, eligibility, required documents, fees, and application process.

About Shriram Finance Personal Loan

The loan is fully digital, allowing applicants to apply online from the comfort of their homes. No documentation fees are charged, and the loan amount can be disbursed within 72 hours of approval.

Key Features & Benefits

Available for low CIBIL scores (below 300).
Loan amounts range from ₹1,00,000 to ₹2,00,000.
Quick disbursement within 72 hours.
12‑month lock‑in period.
EMI repayment with annual interest up to 36%.
No document verification fees.

Eligibility Criteria

Minimum Age	21 years
Maximum Age	60 years
CIBIL Score	Preferably 300 or above; loans also offered for scores below 300
Residency	Indian citizen

Required Documents

PAN Card
Aadhaar Card
Address proof
Bank statement
Passport‑size photograph
Mobile number

Loan Amount & Interest Rate

Loan Amount	₹1,00,000 – ₹2,00,000
Interest Rate	Up to 36% per annum (EMI)
Processing Fee	Up to 3% of the loan amount

Fees & Charges

Processing fee	≈ 3% of sanctioned loan amount
Swift charge	₹500
Cheque bounce charge	₹500
Collection charge	₹200
Post charge	₹50
Document verification fee	None

How to Apply

Online: Visit the official Shriram Finance website, fill in the application form, upload the required documents, and submit.
Offline: Visit the nearest Shriram Finance branch with the documents for verification.
After verification, the loan is approved and the amount is transferred to the applicant’s bank account.

Why Choose Shriram Finance?

Designed for low‑CIBIL borrowers.
Fast approval and disbursement.
No hidden documentation fees.
Transparent fee structure.

Official Links

For the latest information and to start your application, visit the official Shriram Finance portal.

FAQ

Can I get a loan with a CIBIL score below 300? Yes, Shriram Finance offers loans to applicants with scores below 300.
What is the minimum loan amount? The minimum sanctioned amount is ₹1,00,000.
How quickly is the loan disbursed? Disbursement occurs within 72 hours after approval.
Are there any document verification fees? No, there are no document verification charges.
What is the interest rate? The annual interest rate can be up to 36% and is paid via EMI.
Is there a processing fee? Yes, up to 3% of the loan amount.
What age can apply? Applicants must be between 21 and 60 years old.
Do I need to be an Indian resident? Yes, only Indian citizens are eligible.

Conclusion

Shriram Finance personal loan provides a viable financing option for individuals with low CIBIL scores, offering quick disbursement, reasonable loan amounts, and a clear fee structure. By meeting the basic eligibility criteria and submitting the required documents, borrowers can secure funds to meet urgent financial needs without the hassle of traditional loan processes.

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