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  • Shriram Car Finance

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  • Shriram Finance - Overview

    Shriram City Union Finance offers car loans to its customers at affordable interest rates. The rate of interests levied will depend on factors such as the loan amount, repayment tenure, credit score etc. The repayment tenure offered by Shriram City Union Finance is also flexible and ranges between 1 year and 3 years.

    Key features of Shriram City Union Car Finance

    Some of the key features of Shriram City Union Car Finance are:

    • Flexible car loan rate of interest.
    • You can avail a car loan for the purchasing of either a new car or an old car.
    • Flexible repayment tenure.
    • The lender will not provide auto loans to applicants with cheque bounces in their bank statements.

    Shriram City Union Finance car loan fees and charges

    The relevant fees and charges will be levied by the company based on the car loan scheme chosen by the applicant and will depend on factors such as the loan amount, repayment tenure, credit score, etc.

    Shriram City Union Finance Car Loan eligibility

    The eligibility criteria you will have to fulfil in order to be eligible for a car loan from the company are given below:

    • The minimum age of the applicant must be 21 years old with the maximum age being 59 years old.
    • The applicant must either be a salaried individual or a self-employed person.
    • Minimum work experience, a salaried individual must hold is 1 year and 2 years if the co-applicant is a self-employed individual.

    Documents Required for Shriram City Union Finance Car Loan

    The documents you will have to submit while applying for a car loan from Shriram City Union Finance are given below:

    • Proof of identity such as Aadhaar Card, Passport, PAN Card, etc.
    • Proof of address such as Passport, Driving Licence, etc.
    • Bank Statement for last 6 months.
    • Proof of income documents.
    • Duly endorsed Vehicle Registration Certificate on receipt for new vehicles.
    • Duly endorsed Vehicle Registration Certificate before sanction for used vehicles.
    • Post Dated Cheques.
    • Any other document required by Shriram City Union Finance.
    • Passport size photographs of the applicant.

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    FAQs on Shriram Finance

    How do get in touch with Shriram City finance to apply for a car loan?

    Representatives of Shriram finance are available for consultation at showrooms of major car brands. They can also be reached at the nearest branch or via phone service.

    I have decided to apply for a car loan from Shriram finance. Is it a requisite to declare existing loan commitments?

    Yes, you must declare your existing liabilities which includes loans. They will take into account the monthly EMIs paid as a part of processing to ascertain eligibility.

    I have a couple of cheque bounces in the past. Will this affect my eligibility to get a car loan?

    It will have a bearing when they process paperwork since it questions your ability to honour payments. If there is a valid reason, you can justify.

    I am a salaried individual and missed out on filing ITR for the previous financial year. What are my options when I apply for a car loan?

    You can present Form 16 issued by your employer as a proof of income along with latest payslips.

    How important is my credit score while applying for a car loan from Shriram City Union Finance?

    Your credit score plays a huge role in the finance company determining the rate of interest they should levy on the loan amount. If you maintain a credit score of 750 and above, you have higher chances of getting lower interest rates on your loan as the lender gets some surety of your repayment capability. Thus, it is recommended that you maintain a good credit score before applying for a car loan.

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