All About Shriram City Union Finance

By BankBazaar | September 26, 2018

Shriram City Union Finance offers loan products that will meet almost all your financial needs. Here’s a quick look at their array of loan offers.

SHRIRAM FINANCE

Shriram City Union Finance is a deposit-accepting, non-banking financial company (NBFC) and is the consumer finance arm of the three-decade-old Shriram Group. The unit was started in 2002 to meet the demands of the chit fund customers of Shriram Group. Since its inception 16 years ago, Shriram City Union Finance has built a reputation for itself as a company that specialises in retail finance.

The Products

This finance company offers an array of products ranging from Two Wheeler Loans to loan against gold. They also offer Car Loans for both new and used cars, Personal Loans, Small Business Loans and much more. A wide range of financial products and a strong network of over 1,000 offices across India has earned Shriram City Union Finance a dominant place among NBFCs in the country.

However, that’s not all! Its parent company, Shriram Group, is listed on the BSE, NSE and Madras Stock Exchanges, and boasts a high credit rating. Riding on the reputation and well-developed ecosystem of its parent company, Shriram City has been successful at expanding its customer base over the years.

Here’s a look at the various products offered by Shriram City Union Finance:

Non-Corporate Small Business Loans

Shriram Finance started providing non-corporate business loans to customers from the small enterprise segment in 2006. Individuals who fall under this segment include self-employed professionals, wholesale and retail dealers, merchants, builders, small and medium scale manufacturing concerns, catering services and tour operators among others. The company provides customised loans to individuals running small enterprises as it believes the segment is underbanked and is poised to grow in the coming years.

If your work fits the small enterprise segment, here are the features of Shriram City’s non-corporate small business loan as well as the eligibility requirement for the same.

Loan Features

  • Minimum years in business – 2 years
  • Business registration certificate
  • Loan amount to be utilised for business purposes only
  • Annual income requirement will be based on the loan amount
  • No cheque bounces in bank statements
  • Declaration of existing loan commitments
  • Should be in the same residence for a minimum period of 1 year
  • Minimum tenure – 12 months

Eligibility

Who can apply?

  • Individuals: 21 to 58 years of age
  • Self-employed individuals
  • Professionals
  • Sole proprietorships
  • Partnerships
  • Limited and private limited companies

Documents

  • Any business registration certificate
  • Valid identity proof
  • Valid address proof
    • Passport
    • Driving licence
    • Ration card
    • Gas bill with gas book
  • Recent passport-size colour photographs
  • Income-proof documents
  • Bank statement for last 6 months
  • Postdated cheques and electronic clearing mandates
  • PAN card
  • Legal documents as stipulated by Shriram City Union Finance Limited
  • In case of collateral security pledge/hypothecation/mortgage – original documents required
  • Any other document as advised by Shriram City Union Finance

*The interest rate will vary from person to person based on the scheme selected and eligibility of the borrower.

Two-Wheeler Loans

A Two-Wheeler Loan is a smart way to purchase a bike since it lets you repay the amount in affordable EMIs. Paying EMIs is a lot more pocket-friendly than parting with a massive amount at one go. So, whether you are looking to get your hands on an easy and fun ride like an Activa or a monster-like Ninja, a Two-Wheeler Loan will help you fund it.

Here’s a quick overview of Two-Wheeler Loans offered by Shriram City:

Loan Features

  • For used and new two-wheelers
  • For minimum income criteria, please visit their nearest branch
  • No cheque bounces in bank statements
  • Repayment through equated monthly instalments (EMI)
  • Declaration of existing loan commitments
  • Should be employed for a minimum period of 1 year. In the case of self-employment, a minimum of 2 years is required
  • Should be in the same residence for a minimum period of 1 year

 

Eligibility

  • Age – 18 to 59 years of age
  • Salaried and self-employed individuals

Documents

  • Valid identity proof
    • Passport
    • Driving licence
    • Voter ID card
    • Aadhar card
    • PAN card
  • Valid address proof
    • Passport
    • Driving licence
    • Ration card
    • Gas bill with gas book
  • Recent passport-size colour photographs
  • Income-proof documents
  • Bank statement for last 6 months
  • Postdated cheques and electronic clearing mandates
  • PAN card
  • Legal documents as stipulated by Shriram City Union Finance Limited
  • Duly endorsed vehicle registration certificate on receipt
  • Any other document as advised by Shriram City Union Finance

*Interest rate will vary from applicant to applicant

Personal Loans

Personal Loans are great, especially if you find yourself in a financial fix. They are like the instant noodles of the finance world. It is one of the fastest disbursed loans in the market and requires minimum documentation.

Here’s a low down on Personal Loans offered by Shriram City:

Loan Features

  • No cheque bounces in bank statements
  • Repayment through equated monthly instalments (EMI)
  • Declaration of existing loan commitments
  • Should be employed for a minimum period of 1 year. In the case of self-employment, a minimum of 2 years is necessary
  • Should be in the same residence for a minimum period of 1 year
  • Minimum tenure – 12 months. Maximum tenure is 36 months – Scheme based
  • For minimum income criteria, please visit their nearest branch

 

Eligibility
  • Age – 18 to 59 years of age
  • Salaried and self-employed individuals

Documents

  • Valid identity proof
    • Passport
    • Driving licence
    • Voter ID card
    • Aadhar card
    • PAN card
  • Valid address proof
    • Passport
    • Driving licence
    • Ration card
    • Gas bill with gas book
  • Income-proof documents
  • Bank statement for last 6 months
  • Postdated cheques and electronic clearing mandates
  • Legal documents as stipulated by Shriram City Union Finance Limited
  • Collateral security as advised by Shriram City Union Finance
  • Any other document as advised by Shriram City Union Finance

*Interest rate will vary from applicant to applicant

Gold Loan

Whether it’s in the form of jewellery for weddings or bars and coins for investments, the intrinsic value of gold is revered and treasured the world over. If a person has gold and is in urgent need of cash, all he or she needs to do is take that gold to a bank and get a gold loan. A gold loan is easily disbursed against the security of gold kept as collateral.

Here’s a quick look at Shriram City Gold Loan:

Loan Features

  • Loans granted up to 60% of the net value of the jewel
  • Net weight and value of the jewel will be decided by Shriram City Union Finance
  • Tenure and interest servicing is as per the scheme selected

 

Eligibility

  • Age – 18 to 60 years of age
  • Individuals only

 

Documents

  • Valid identity proof
    • Passport
    • Driving licence
    • Voter ID card
    • Aadhar card
    • PAN card
  • Valid address proof
    • Passport
    • Driving licence
    • Ration card
    • Gas bill with gas book
  • Recent passport-size colour photographs
  • Any other document as advised by Shriram City Union Finance

 

*Interest rate will vary from applicant to applicant

Auto Loans

Whether it’s a brand new or second-hand two-wheeler or car, Shriram City provides finance for all kinds of auto needs and requirements. They not only provide loans for passenger vehicles but also provide loans for the purchase of commercial vehicles.

Vehicles
  • Cars/Commercial Vehicles/Tractors

 

Loan Features

  • Funding can be for used and new cars
  • No cheque bounces in bank statements
  • Repayment through equated monthly instalments (EMI)
  • Declaration of existing loan commitments
  • Should be employed for a minimum period of 1 year. In the case of self-employment, a minimum of 2 years is must
  • Should be in the same residence for a minimum period of 1 year
  • Minimum tenure – 12 Months
    Maximum tenure – 36 months. Scheme based
  • For minimum income criteria, please visit their nearest branch

 

Eligibility

  • Age – 21 to 59 years of age
  • Salaried and self-employed individuals

 

Documents

  • Valid identity proof
    • Passport
    • Driving licence
    • Voter ID card
    • Aadhar card
    • PAN card
  • Valid address proof
    • Passport
    • Driving licence
    • Ration card
    • Gas bill with gas book
  • Recent passport-size colour photographs
  • Income-proof documents
  • Bank statement for last 6 months
  • Postdated cheques and electronic clearing mandates
  • Legal documents as stipulated by Shriram City Union Finance Limited
  • Duly endorsed vehicle registration certificate on receipt of new vehicles
  • Duly endorsed vehicle registration certificate before sanction for Used Vehicles
  • Any other document as advised by Shriram City Union Finance

 

*Interest rate will vary from applicant to applicant

Don’t believe us? Here’s what people who took Shriram City Union Finance Two Wheeler Loan have to say about it.

Other than the above-mentioned offers, Shriram City also provides Home Loans via its housing finance subsidiary Shriram Housing Finance Ltd. (SHFL). In short, Shriram City has a loan for almost all your financial needs.

Psst! If you are looking for a loan or Credit Card, it’s always wise to compare offers from many banks before zeroing in on one. BankBazaar allows you to compare options from various banks and pick the one that best suits your needs.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
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