In this article, we will provide information related to the key details, features, benefits, and costs associated with Shriram Finance vehicle loans.
Shriram Finance, a well-known Non-Banking Financial Company (NBFC) in India, offers vehicle loans for both individuals and businesses.
These loans are designed to help you purchase various types of vehicles, from cars and motorcycles to commercial vehicles
SHRIRAM FINANCE VEHICLE LOAN DETAILS ONLINE
Interest Rate:
Shriram Finance Vehicle Loan offers competitive interest rates, ranging from 11.50% to 28% per annum.
The actual rate you receive depends on factors like your creditworthiness and the type of vehicle you intend to purchase.
Repayment Tenure:
The repayment tenure for Shriram Finance vehicle loans can be anywhere from 12 to 72 months, allowing borrowers to choose a duration that aligns with their financial situation.
Processing Fee:
Shriram Finance charges a processing fee of 2% to 4% on the loan amount, which is relatively affordable.
Quick Disbursals:
Once your loan application is approved, you can expect to receive the loan amount in as little as 24 hours.
Presence:
Shriram Finance boasts a substantial presence with over 2,800 branches across the country.
Employment:
Shriram Finance caters to both salaried and self-employed individuals.
Foreclosure Charges:
If you decide to foreclose your loan, the charges typically start from 4%, depending on your specific loan scheme.
ABOUT SHRIRAM FINANCE VEHICLE LOAN
Shriram Transport Finance Company Limited (STFC), founded in 1979 and headquartered in Mumbai, is a leading NBFC in India.
 It is part of the esteemed Shriram Group, a prominent financial services conglomerate. STFC specializes in offering financial solutions for commercial vehicles, construction equipment, tractors, and more.
STFC serves a vast customer base of over 2.5 million individuals and small businesses throughout India.
They provide a range of financial products and services, including vehicle loans, construction equipment loans, tractor loans, and insurance services.
SHRIRAM FINANCE VEHICLE LOAN INTEREST RATES
The interest rates offered by Shriram Finance on vehicle loans are quite competitive.
These rates, ranging from 11.50% to 28% per annum, depend on various factors, such as the type of vehicle you’re buying and your personal profile, including your credit score, income structure, and more.
It is important to note that these rates are subject to change in accordance with company policies and are determined at the company’s discretion.
To make an informed decision about your loan, you should consider the total cost, which includes interest and any associated fees.
FACTORS AFFECTING SHRIRAM FINANCE VEHICLE LOAN INTEREST RATES
Credit Score:
One of the most crucial factors influencing your interest rate is your credit score. A higher credit score generally leads to a lower interest rate.
Loan Amount:
The loan amount you request also plays a key role in determining the interest rate. A higher loan amount might result in a higher interest rate.
Loan Tenure:
Generally, the longer the loan tenure, the higher the interest rate. Shorter tenures usually come with lower rates.
Vehicle Type:
The type of vehicle you’re financing can affect your interest rate. Luxury and commercial vehicles may have higher rates due to the perceived risk.
Down Payment:
Providing a substantial down payment can lead to a lower interest rate, as it reduces the loan amount and lender’s risk.
Income:
Lenders often consider your income, employment status, and occupation when setting your interest rate.
Market Conditions:
Interest rates can also vary based on market conditions, including inflation, economic trends, and lender policies.
Relationship:
Existing customers with a good relationship with the lender may be offered special interest rates.
FEATURES OF SHRIRAM FINANCE VEHICLE LOAN
Shriram Finance’s vehicle loans come with several features that make them appealing to prospective borrowers:
Competitive Interest Rates:
The interest rates offered by Shriram Finance are competitive and are tailored to your creditworthiness and the type of vehicle you plan to purchase.
Flexible Loan Tenure:
Borrowers can select a repayment period that suits their financial circumstances, with loan tenures ranging from 12 to 72 months.
Low Processing Fee:
The processing fee for these loans is reasonable and does not add a significant financial burden.
Minimal Documentation:
The application process is straightforward, with minimal documentation requirements, making it easy to apply for a vehicle loan.
Fast Loan Disbursal:
Once your loan application is approved, you can expect a quick disbursal of the loan amount.
Pre-Approved Offers:
Shriram Finance extends pre-approved offers to eligible customers, streamlining and expediting the application process.
Loan for New and Used Vehicles:
Shriram Finance provides loans for both new and used vehicles, offering greater flexibility for borrowers.
Loan for Personal and Commercial Vehicles:
Whether you are buying a personal car or a commercial vehicle, Shriram Finance has you covered.
Insurance Facility:
 As part of the loan package, they offer an insurance facility, ensuring that you and your vehicle are protected.
It’s essential to note that the availability of these features is subject to Shriram Finance’s policies and is determined based on the borrower’s creditworthiness and other relevant factors.
ELIGIBILITY CRITERIA FOR SHRIRAM FINANCE VEHICLE LOAN
To qualify for a vehicle loan from Shriram Finance, you must meet specific eligibility criteria:
Age:
Applicants should be at least 21 years old and no older than 65 years when the loan matures.
Employment:
You must either be a salaried employee or a self employed individual with a stable income source.
Work Experience:
At least two years of work experience are typically required.
Credit Score:
 A good credit score and a stable credit history are essential.
Driving License:
 You must possess a valid driving license.
Residence and Office Address:
 A permanent residence and office address are prerequisites.
DOCUMENTS REQUIRED FOR SHRIRAM VEHICLE FINANCE LOAN
When applying for a vehicle loan from Shriram Finance, the following documents are usually necessary:
Filled and Signed Application Form
Proof of Identity (e.g., PAN Card, Aadhar Card, Voter ID, Passport)
Proof of Address (e.g., Aadhar Card, Voter ID, Utility Bill, Rent Agreement ,Passport)
Proof of Income (e.g., salary slips, Form 16, IT returns, Bank statements)
Proof of Age (e.g., Aadhar Card, PAN Card, Voter ID, Passport)
 Business Proof (if you are self employed)
 Bank Statements for the Last 6 Months
 Quotation for the Vehicle
 Cancelled Cheque and ACH Form for Electronic Clearing Mandate
 Endorsed Vehicle Registration Certificate (for new vehicles)
HOW TO APPLY FOR SHRIRAM FINANCE VEHICLE LOAN ONLINE
Shriram Finance offers the convenience of applying for a vehicle loan online. Here are the steps to follow:
Visit the Official Website: Start by visiting the official Shriram Finance website.
Click “Apply Now”: On the homepage, look for the “Apply Now” button and click on it.
Select “Vehicle Loan”: You will see a list of loan options; choose “Vehicle Loan.”
Register Using Your Mobile Number: You will need to register using your mobile number to access the online application form.
Complete the Application Form: Fill out the online application form, providing your personal, employment, and income details.
Upload Required Documents: You will be prompted to upload the necessary documents, including proof of identity, address, income, and the vehicle quotation.
Receive Voucher Details: Once you’ve completed the application, you will receive voucher details.
Visit the Showroom: You will need to visit a Shriram Finance showroom and meet with a representative. During this meeting, you’ll need to submit KYC documents and complete the loan application process.
After submitting your application, the loan process will kick off, and the Shriram Finance Vehicle Loan team will review the information you provided.
Loan approval or rejection is determined based on the company’s credit policy and your creditworthiness.
HOW TO DOWNLOAD SHRIRAM FINANCE LOAN STATEMENT
To download your Shriram Finance loan statement, follow these steps:
Visit the Official Website: Start by visiting the official Shriram Finance website.
Customer Login: Look for the “Customer Login” button in the top right corner of the homepage and click on it.
Enter Your Login Credentials: Log in using your User ID and Password.
Access Account Summary: Once you’re logged in, navigate to the “Account Summary” or “My Accounts” section.
Download the Statement: Look for options like “Download” or “Statement” and select the specific period for which you want to download the statement.
Download in PDF Format: Your loan statement will be downloaded in PDF format.
Please note that you must be a registered user on the website to download your statement.
If you are not registered yet, you can do so by providing your loan account number and other required details.
SHRIRAM FINANCE LOAN PAYMENT OPTIONS
Shriram Finance offers multiple convenient payment methods:
Online Payment:
You can make payments through the Shriram Finance website using credit cards, debit cards, or net banking.
Auto Debit:
Set up auto debit from your bank account by establishing an Electronic Clearing Service (ECS) mandate to automatically deduct the EMI from your bank account on the due date.
NACH (National Automated Clearing House):
If you’ve registered for Auto Debit (NACH), your EMI will be automatically debited from your bank account on the due date.
Mobile Apps:
Shriram Finance provides an official mobile app for convenient EMI payments through your mobile phone.
Post-dated Cheques:
Submit post-dated cheques to Shriram Finance for loan repayment.
Branch Visit:
You can also visit the nearest Shriram Finance branch to make payments in cash or by cheque.
SHRIRAM FINANCE VEHICLE LOAN CUSTOMER CARE
The customer care contact details for Shriram Finance vehicle loans may vary depending on your location.
To find the contact information specific to your region, visit the official Shriram Finance website and look for the “Contact Us” section.
However, you can generally reach out to them using the following tollfree customer care numbers:
 1800 103 6369
 1800 103 4959
For more localized inquiries, check the details of their regional offices.
SHRIRAM FINANCE VEHICLE LOAN DETAILS FAQ
Q: What is a vehicle loan?
 A vehicle loan is a type of loan used to finance the purchase of a vehicle, such as a car, truck, two-wheeler, or any other type of vehicle.
The borrower takes out a loan and repays it in regular instalments until the loan is fully paid off.
The vehicle itself is often used as collateral for the loan, which means the lender can repossess the vehicle if the borrower fails to make the required payments.
Q: How can I check my Shriram Finance Vehicle loan details?
There are several ways to check your loan details with Shriram Finance.
You can visit the company’s official website and log in to your account. Additionally, you can inquire about your loan details via SMS, email, phone call, or by visiting a branch.
Q: What is the interest rate of a Shriram Finance Vehicle Loan?
Shriram Finance offers vehicle loans at competitive interest rates. The specific rate you’ll receive depends on the type of vehicle
You are purchasing and various factors, including your credit score and income structure.
Interest rates for Shriram Finance vehicle loans typically range from 11.50% to 28% per annum.
Q: How can I make Shriram Finance online payments?
You have the option to make online payments through the Shriram Finance website using methods like debit cards, credit cards, and net banking.
You can also set up auto debit payments from your bank account through Electronic Clearing Service (ECS) mandates.
Additionally, you can use the official Shriram Finance mobile app for convenient mobile payments, or submit post-dated cheques at a branch.
Q: What is the vehicle loan tenure for Shriram Finance?
The loan tenure for Shriram Finance vehicle loans typically ranges from 12 to 72 months.
The final tenure is determined by the lender’s team based on your eligible loan amount, interest rate, and credit profile.
Q: What is the Shriram Finance Vehicle Loan customer care number?
The customer care contact details may vary by location. However, you can use the following tollfree numbers for general inquiries related to Shriram Finance:
   1800 103 6369
   1800 103 4959
You can also reach out to the company via email at For region-specific queries, consult the contact details of their regional offices.
ALSO READ : APSRTC CCS LOANÂ
Video Credit : Insurance Guru
CONCLUSION SHRIRAM FINANCE VEHICLE LOAN
Shriram Finance Vehicle Loan offers a comprehensive range of vehicle loans with competitive interest rates and flexible repayment options.
As a part of the esteemed Shriram Group, the company has a significant presence across India, making it a reliable choice for financing your vehicle purchase.
Whether you are in need of a personal or commercial vehicle loan, Shriram Finance has tailored solutions to meet your needs.