Multiple banks. Different interest rates. Call it a "conflict of interest".
Shriram City Union Finance was established in the year 1986. It is a part of the Shriram Group and it is a deposit accepting non-banking financial company (NBFC). It generally offers personal loans for short-term and medium-term finance. Personal loan is offered to existing as well as old customers and to customers of other Shriram Group entities.
| Interest Rate | Loan Amount | Benefits |
| On the basis of the schemes which are selected by the applicant | On the basis of the schemes which are selected by the applicant | Easy repayment through EMIs. |
The advantages of choosing Shriram City Union Finance personal loan can be summed up as follows:
The fees and charges applicable for the Shriram City Union Finance personal loans are dependent on the schemes which are selected by the applicants. However, there are certain fixed charges such as:
| Cheque bounce charges | 3% of the amount mentioned in the cheque or Rs.1,000 (higher of the two) + GST |
| Swapping charges | Rs.1,000 per swap + GST |
| Overdue interest | 36% of the unpaid instalments or dues |
| Loan cancellation charges | Rs.1,000 + GST |
| Postage expenses | Postage expense for issue of notice – Rs.50 + GST for each notice sent to the borrower of the loan |
The applicant must meet the following eligibility criteria:
However, it should be kept in mind that the above-mentioned eligibility criteria do not guarantee the disbursal of loan. A loan will be approved only after Shriram City Union Finance verifies and approves the original documents submitted by the applicant.
The following documents are to be submitted along with the application form:
There is no fixed interest rate for Shriram City Union Finance Personal Loans. The interest rates are decided by the institution after assessing the applicants’ documents and is strictly based on the schemes that are selected by them.
If you apply for a personal loan through BankBazaar, you can log in to your profile to see the status. In addition to that, BankBazaar will also send regular emails and SMS to notify you about the status of the loan. You can also use the mobile phone application of BankBazaar for the same.
Shriram City Union Finance offers loans for short terms and medium terms. The minimum tenure for which you can avail a loan is 12 months.
Shriram City Union Finance offers loans for short terms and medium terms. The maximum tenure for which you can avail a loan is 36 months.
The maximum loan amount is not fixed. The maximum loan amount which can be availed by an applicant will be dependent on his or her selection of scheme as well as eligibility.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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