Shriram City Union Finance Two Wheeler Loan Interest Rate
|Interest Rate||11.50% p.a. onwards|
|Maximum Loan Amount||Up to 100% financing on the on-road price|
|Minimum Loan Amount||Based on customer profile|
|Minimum Income Requirement||Rs.12,000 per month|
|Repayment Period||12 -36 months|
|Processing Fee||Varies from state to state|
|Prepayment Charges||4% onwards|
Compare with: Lowest two wheeler loan interest rate
How to Apply for Shriram City Union Finance Bike Loan?
You can apply for a Shriram City Union Finance Bike loan online. You will be required to follow a few simple steps for the same. The steps are being listed below:
- Visit the official website of Shriram City Union Finance at www.shriramcity.in.
- From the top menu, click on the ‘Two Wheeler Loans’ option.
- On the page there will be an ‘Instant Loan’ option where you will have to enter your name, mobile number, and email address. You will also have to provide other details such as your date of birth, gender, marital status, PAN number, and the pin code of your residence.
- Tick the box where you agree with all the terms and conditions and click on the ‘Apply Now’ button.
- Shriram City Union Finance will send you an OTP on the mobile phone number that you have provided.
- Use the OTP and complete the verification process.
- After this, the NBFC will check your eligibility for the two wheeler loan and get in touch with you for your loan requirement.
- Alternatively, you can also visit BankBazaar.com for your two wheeler loan requirement. Here you can compare the different two wheeler loan products and choose the one that suits all your requirements.
Shriram City Union Finance Two Wheeler Loan EMI Calculator
Shriram City Union Finance offers an on-site bike loan EMI calculator which can be used by a user to calculate the EMI for the prospective loan amount chosen by them. On this two wheeler loan emi calculator, the user will be required to enter the details of the loan such as the gross loan amount, the flat rate of interest, and the loan repayment tenure in terms of months.
Once all the details have been entered, one can just click on the ‘Calculate EMI’ button at the bottom and the portal will calculate and display the EMI amount as per the details provided by the user.
Shriram City Union Finance Two Wheeler Loan Eligibility Criteria:
- The minimum age of the applicant should not be less than 18 years.
- The maximum age of the applicant should not be more than 59 years.
- Both salaried and self-employed applicants can apply for this loan.
- The applicant should have been residing in the same residential address for a period of at least one year.
- Existing loan commitments should be declared by the borrower.
- The borrower should not have any cheque bounces in the previous bank statements.
- In the case of salaried applicants, he or she should have been employed for at least a year and should draw a minimum salary of Rs.12,000 per month.
- In the case of self-employed applicants, he or she should have been in the business for a minimum of two years.
Documentation for Shriram City Union Finance Two Wheeler Loans:
The following documents will have to be submitted by the applicant to complete the loan process. The requirement for documents is the same for both self-employed as well salaried individuals.
- Valid ID proof (Any one of passport, driving licence, Aadhar card, voter ID and PAN card)
- Address Proof (Any one of passport, gas bill with gas book. ration card and driving licence)
- Duly filled application form with recent passport size photos
- Proof of income
- Post Dated Cheques (PDC) and electronic clearing mandates
- Bank statements for the last 6 months
- Duly endorsed two wheeler Registration Certificate on receipt
- Any other document as per the requirement of Shriram City Union Finance
Other relevant documents may be asked for depending on the type of your employment and income source. Do enquire with Shriram Finance for a comprehensive list of documents required before proceeding with the loan process.
Features and Benefits of Shriram City Union Finance Two Wheeler Loan:
The features and benefits of the Shriram City Union Finance Two Wheeler Loan can be summed up as follows:
- This loan can be availed for the purchase of both new and used two-wheelers.
- The repayment can be done through equated monthly instalments.
- Minimal documentation requirements and hassle-free loan procedure.
- Shriram finance also offers attractive and affordable interest rates for two-wheeler loan products.
- You can avail up to 100% financing on the value of the two-wheeler vehicle.
- Easy application process.
- The loan amount is disbursed quickly once the application for loan is approved.
- You can easily access all the transactions related to your loan online on the Shriram City Union customer portal.
- Shriram City Union has multiple branches all over India.
- What is the interest rate for Shriram City Union Finance two wheeler loans?
The interest rates are based on the profile of the applicant and is decided by the NBFC itself. The interest rate will be applicable on the basis of the scheme that is chosen by the applicant.
- Where can I find the draft agreement for Shriram City Union Finance two wheeler loans?
You can directly download the draft agreement for the Shriram City Union Finance two wheeler loans through the official website of the NBFC. To download the same, you can directly visit the two wheeler loan page on the Shriram City Union Finance website. Scroll down to the bottom of the page and download the draft agreement from the given list under the ‘Draft Agreement’ sub-head.
- In what languages can I download the draft agreement for Shriram City Union Finance two wheeler loans?
The draft agreement of the Shriram City Union Finance two wheeler loans is available in 9 different languages. Users can choose to download from the list of the following languages: Tamil, English, Hindi, Telugu, Oriya, Bengali, Kannada, Malayalam, and Marathi.
- Can I apply for a Shriram City Union two-wheeler loan offline?
- Can I foreclose my Two-Wheeler loan?
- Can I avail a two-wheeler loan even if my credit score is low?
Yes, you can visit the nearest Shriram City Union branch along with all the necessary documents and apply for a two-wheeler loan offline.
Yes, you can foreclose your two-wheeler loan but only after you have paid 6 EMIs.
You can apply for a two-wheeler loan even if your credit score is low. The approval of the loan is subject to assessment and branch credit approval. However, it is important you maintain a healthy credit score before applying for a two-wheeler loan to ensure the application process is smooth and fast.