Shriram Finance Personal Loan Review 2025: Interest Rate, Eligibility, Calculator

When it comes to fulfilling urgent financial needs, personal loans are often the go-to option. In 2025, Shriram Finance continues to offer one of the most accessible and reliable personal loan services in India. Known for serving the underserved and semi-urban/rural sectors, Shriram Finance brings a personalized approach to lending, making it easier for self-employed and salaried individuals to access funds when they need them most.

Overview of Shriram Finance Personal Loan 2025

Shriram Finance offers personal loans primarily to individuals who need money for purposes such as weddings, education, medical emergencies, home renovation, travel, or debt consolidation. Their flexible eligibility criteria and competitive interest rates make them a suitable option for middle-income borrowers and people with limited access to traditional bank loans.

• Loan Amount: ₹50,000 to ₹20 Lakhs
• Loan Tenure: 12 to 60 months
• Interest Rate: Starting from 11.50% p.a. (subject to credit profile)
• Processing Fee: Up to 2.50% of the loan amount
• Disbursement Time: Within 2–3 working days

Interest Rates & Charges in 2025

The interest rate on personal loans from Shriram Finance depends on various factors including credit score, income level, repayment history, and loan amount. Here’s a breakdown:

Particulars	Details
Interest Rate	11.50% – 24.00% per annum
Processing Fee	Up to 2.50% + GST
Prepayment Charges	4% on outstanding principal
Late Payment Fee	2% per month on overdue EMIs

Eligibility Criteria

Shriram Finance has relatively simple eligibility requirements compared to traditional banks, especially for self-employed individuals. The general criteria include:

• Age: Minimum 21 years and maximum 58 years (at loan maturity)
• Employment: Salaried or self-employed
• Income: Minimum monthly income of ₹15,000
• Credit Score: Preferably 650 or above
• Residential Status: Indian resident with valid address and ID proof

Documents Required

Applicants need to submit the following documents for loan approval:

• Identity Proof (Aadhar Card, PAN Card)
• Address Proof (Utility bills, Rent agreement)
• Income Proof (Salary slips or bank statements)
• Business proof (for self-employed)
• Photographs (passport-size)

How to Apply?

Applying for a Shriram Finance personal loan is quite simple. Here are the steps:

1. Visit the official website of Shriram Finance or nearest branch.
2. Choose the ‘Personal Loan’ section.
3. Fill out the application form with your basic details.
4. Upload or submit the necessary documents.
5. Get approval within a few working days.

EMI Calculator

Shriram Finance offers an online EMI calculator tool on their website. It helps you plan your repayments better by estimating your monthly EMI amount based on loan amount, interest rate, and tenure.

Example: If you take a loan of ₹2,00,000 for 3 years at 14% interest, your monthly EMI will be approximately ₹6,832.

Pros and Cons

Pros	Cons
Flexible eligibility for self-employed Quick disbursal Reasonable interest rates Dedicated support in semi-urban & rural areas	Higher interest rate for low credit score Limited digital-only processing Prepayment charges apply

Customer Feedback

In 2025, customer feedback about Shriram Finance personal loans remains largely positive. Borrowers appreciate their fast processing, supportive customer service, and accessibility even to people with average credit scores. However, some have raised concerns about clarity in prepayment charges and physical documentation needs in some branches.

Final Verdict

If you’re looking for a trustworthy NBFC that caters well to both salaried and self-employed borrowers, Shriram Finance is a great option in 2025. With competitive interest rates, transparent terms, and fast processing, their personal loan product stands strong in the market.

Tip: Always compare offers and use their online EMI calculator to avoid surprises in your repayment journey.

Disclaimer: Loan approval, terms, and interest rates are subject to change based on internal policies, RBI guidelines, and applicant profile. Please verify all information through the official Shriram Finance website before applying.