Shriram Finance Personal Loan 2026 at a Glance

Loan amount up to ₹10 lakh, interest from 11% p.a., tenure 12 to 60 months, processing fee up to 5%, foreclosure charge up to 4%, and a lock-in of 12 months from the first EMI.

What Is a Shriram Finance Personal Loan?

A Shriram Finance personal loan is a collateral-free loan from Shriram Finance Limited, an RBI-registered NBFC, repaid through fixed monthly EMIs over 12 to 60 months. You can use it for a wedding, travel, medical bills, home repairs, consumer durables or debt consolidation.

Shriram Finance Limited was formed in November 2022 through the merger of Shriram Transport Finance, Shriram City Union Finance and Shriram Capital. The Shriram group has been in lending since 1979. A Shriram Finance personal loan is a fixed-rate product, so your EMI stays the same from the first month to the last.

You can use a Shriram Finance personal loan for these needs:

• Wedding loan: venue, catering, jewellery and decor costs
• Travel loan: flights, stays and tour packages
• Medical emergency loan: hospital bills not covered by health insurance
• Consumer durable loan: TVs, washing machines and home appliances
• Personal loan for women: personal expenses or starting a small venture

Also Read: Different Types of Personal Loans in India: A Comprehensive Guide

Shriram Personal Loan Interest Rate 2026

The Shriram personal loan interest rate starts at 11% p.a. According to Shriram Finance’s Interest Rate Policy V3.2026-27, the personal loan rate band is 11% to 42% p.a. for core (branch-led) loans and 11% to 36% p.a. for digital loans. Your final rate depends on your risk profile.

Source: Shriram Finance Interest Rate Policy, Annexure 1 (2026-27). Indicative; subject to change.

The 11% rate is the floor, not the typical offer. Most Shriram Finance personal loan borrowers with average credit profiles receive a rate above the starting rate. The best way to get close to 11% is a CIBIL score above 750, stable salaried income and low existing EMIs.

Also Read: Lowest Personal Loan Interest Rate India 2026: Compare & Apply

What Decides Your Shriram Personal Loan Interest Rate?

Shriram Finance uses risk-based pricing. Your credit score, income, job stability, age, existing debts, residential stability, tenure and past relationship with Shriram decide where you fall inside the 11% to 42% band.

Shriram Finance’s policy lists these factors for pricing a Shriram Finance personal loan:

Is the Shriram Finance Personal Loan Rate Fixed or Floating?

Fixed. Every Shriram Finance personal loan carries a fixed interest rate, and any revision in rates or charges applies only prospectively, meaning it will not change the terms of a loan already sanctioned.

Also Read: What You Need to Know About the CIBIL Score and How It Is Calculated

Shriram Finance Personal Loan Fees and Charges 2026

Key charges on a Shriram Finance personal loan are a processing fee of up to 5%, documentation charges of up to ₹3,000, foreclosure charges of up to 4% of principal outstanding, penal charges of up to 36% p.a. on overdue instalments, and up to ₹1,000 per EMI bounce. GST applies extra.

Source: Shriram Finance Interest Rate Policy, Annexures 2 and 3 (2026-27).

Also Read: How to Avoid Hidden Charges While Applying for a Personal Loan

What Does a Shriram Finance Personal Loan Really Cost? (Worked Examples)

On a ₹5 lakh loan with the maximum 5% processing fee, you pay ₹25,000 plus ₹4,500 GST (18%), a total of ₹29,500. Foreclosing with ₹3 lakh outstanding at 4% costs ₹12,000 plus GST.

GST at 18% is assumed for illustration. Your KFS will show the exact Annual Percentage Rate (APR) including all charges.

Also Read: Personal Loan Balance Transfer Process

Shriram Personal Loan EMI for ₹1 Lakh to ₹10 Lakh

At 11% p.a., the EMI on a ₹5 lakh Shriram Finance personal loan is ₹10,871 for 60 months, ₹16,369 for 36 months and ₹44,191 for 12 months. At 24% p.a., the same ₹5 lakh costs ₹14,384 per month over 60 months.

Shriram Finance personal loan EMIs are indicative, rounded to the nearest rupee, and exclude processing fees and GST.

Key insight: On ₹5 lakh over 36 months, the difference between an 11% and a 24% rate is about ₹1.17 lakh in extra interest (₹89,297 vs ₹2,06,191). Improving your credit profile before applying for a Shriram Finance personal loan can save more money than any other step.

Also Read: Lowest EMI Personal Loan for ₹5 Lakh: Compare & Apply

How to Calculate Shriram Personal Loan EMI

Use the formula EMI = P × R × (1 + R)^N / [(1 + R)^N − 1], where P is the loan amount, R is the monthly rate (annual rate ÷ 12 ÷ 100) and N is the tenure in months.

Example: For ₹3,00,000 at 16% for 36 months, R = 0.01333 and N = 36, which gives an EMI of ₹10,547.

Also Read: Personal Loan EMI Calculator: How to Use It to Plan Repayments

Shriram Personal Loan Eligibility Criteria 2026

To meet Shriram personal loan eligibility, you must be a resident Indian aged 21 years at application and not older than 60 years at loan closure, with a stable income and ideally a CIBIL score of 750+. The online personal loan is currently open to salaried applicants; self-employed applicants must be pre-approved existing customers or apply for a Shriram business loan.

Also Read: What is the Minimum Salary Required for a Personal Loan in India?

Shriram Personal Loan Eligibility for Salaried vs Self-Employed

Salaried applicants apply directly with salary slips and bank statements. Self-employed applicants are redirected to a business loan unless they already have a relationship with Shriram Finance and are pre-approved for a personal loan.

Also Read: Personal Loan Against Salary Slip: Eligibility & Apply Online

How Much Shriram Finance Personal Loan Can I Get on My Salary?

Assuming a 40% DTI limit, 60-month tenure and no existing EMIs, a salary of ₹25,000 can support a loan of about ₹4.1 lakh at 16% p.a., ₹35,000 about ₹5.8 lakh, and ₹50,000 about ₹8.2 lakh. Salaries of ₹75,000 and above can reach the ₹10 lakh cap.

Illustrative only. Existing EMIs reduce these figures. Final Shriram Finance personal loan eligibility is decided by the lender’s credit policy.

Also Read: How Much Personal Loan Can I Get on My Salary?

Can I Get a Shriram Finance Personal Loan with a Low CIBIL Score?

Possibly. Shriram Finance states that applicants with bad credit may still qualify if they meet other eligibility criteria, but approval is subject to its internal policy and the rate is likely to be at the higher end of the band. A co-applicant with a strong credit and income profile can improve your chances.

Also Read: Personal Loan for CIBIL Score Below 650: Is It Possible?

Shriram Personal Loan Documents Required

The Shriram personal loan documents you need are identity proof (Aadhaar, PAN, passport, voter ID or driving licence), address proof (passport, utility bill or rental agreement), 3 months’ salary slips or income proof, 6 months’ bank statements, passport-size photos, and a cancelled cheque with an eNACH form.

Shriram Personal Loan Documents Checklist

1. PAN card and Aadhaar linked to your mobile number
2. Current address proof, if different from Aadhaar
3. Last 3 salary slips
4. Last 6 months’ salary account statement (PDF)
5. Two passport-size photos
6. Cancelled cheque from your repayment account

Keeping these ready avoids the most common cause of Shriram Finance personal loan delays: incomplete or outdated documents.

Also Read: 100% Paperless Personal Loan: Apply Fully Online in 10 Minutes

How to Apply for Shriram Personal Loan Online

For a Shriram personal loan apply online, visit the Shriram Finance website or Shriram One app, register with your mobile number, enter PAN and personal details, choose the loan amount and tenure, complete KYC and employment details, and submit. A loan executive then contacts you to complete verification.

Shriram Personal Loan Apply Online: Step-by-Step

How Long Does Shriram Finance Personal Loan Approval Take?

Shriram Finance says approval can take as little as a few hours once documents and eligibility are verified. Shriram Finance personal loan disbursal time depends on verification, eNACH registration and your bank.

Pre-approved customers of Shriram Finance may get faster processing with preferential rates. You can track your Shriram Finance personal loan application status through the Shriram One app, the website or customer care.

Also Read: Get Personal Loan Approval in 10 Minutes

Shriram Finance Personal Loan: Pros and Cons

The main Shriram Finance personal loan advantages are no collateral, a fixed rate, loans up to ₹10 lakh and a large branch network. The main drawbacks are a wide rate band up to 42%, a processing fee of up to 5%, a 12-month foreclosure lock-in and limited access for self-employed applicants.

Also Read: Benefits and Drawbacks: Is a Personal Loan Right for Your Financial Needs? 

Is a Shriram Finance Personal Loan Safe?

Yes. Shriram Finance Limited is an RBI-regulated NBFC and one of India’s largest retail lenders, with assets under management of ₹3,13,798.39 crore as of 30 June 2026, 3,225 branches and about 1.03 crore customers.

Sources: Shriram Finance Q1 FY27 press release and investor presentation (24 July 2026); Q1 FY26 results (25 July 2025).

Also Read: Avoiding Personal Loan Scams and Predatory Lender

RBI Rules That Protect Shriram Finance Personal Loan Borrowers

RBI rules require Shriram Finance to give you a Key Fact Statement with the full APR before you sign a Shriram Finance personal loan agreement, bar it from charging penal interest (only non-capitalised penal charges are allowed), and apply any change in rates or charges only prospectively.

Also Read: New CIBIL Score Rule 2026: RBI Update Explained 

How to Get the Lowest Shriram Personal Loan Interest Rate

Keep your CIBIL score above 750, keep your DTI within 30% to 40%, choose a shorter tenure, apply with a strong co-applicant, and avoid multiple loan applications at the same time.

1. Check your credit report first. Fix errors before you apply.
2. Clear small debts. Credit card dues and small loans raise your DTI.
3. Pick the shortest EMI you can afford. Shorter tenures reduce total interest and can improve your rate.
4. Negotiate the processing fee. Shriram’s policy allows fee deviations with senior approval.
5. Compare offers. Check at least 3 lenders so you know whether your Shriram Finance personal loan rate is competitive.

Also Read: How Do You Ensure Low Interest Rates for a Personal Loan

Compare Shriram Finance Personal Loan Offers with Ruloans

Ruloans is a financial distribution company, not a lender. It helps you compare personal loan offers from 275+ partner banks and NBFCs in one application, so you can check whether your Shriram Finance personal loan offer is the best available rate for your profile.

With 25+ years of experience, 21 lakh+ customers served and ₹1.4 lakh crore+ disbursed through partner lenders across 4,000+ cities, Ruloans matches you with lenders suited to your salary, credit score and loan need. You can also apply directly through the Ruconnect App. Loan approval, interest rate and disbursal are decided entirely by the matched partner bank or NBFC.

[Check your personal loan eligibility on Ruloans] 

Conclusion

A Shriram Finance personal loan gives salaried borrowers up to ₹10 lakh without collateral, a fixed EMI and a tenure of 12 to 60 months. Rates start at 11% p.a., but the final Shriram personal loan interest rate depends on your credit profile. Before you sign, check the APR in your Key Fact Statement, the processing fee of up to 5% and the 12-month foreclosure lock-in.

Want to know if you can get a better rate? Ruloans is a financial distribution company with 275+ partner banks and NBFCs. One application shows you personal loan offers matched to your salary and credit score. You can apply on the Ruloans website or through the Ruconnect App. The partner lender decides approval, interest rate and disbursal, and all rates are indicative.

[Apply for a Personal Loan on Ruloans]

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Ruloans Team

Every article on Ruloans is researched, written, and verified by a team of former bankers, certified financial planners, DSA industry veterans, and lending compliance specialists with over 25 years of hands-on experience in India’s loan distribution landscape. From decoding home loan eligibility and EMI planning for borrowers, to guiding DSA partners on commissions, registrations, and building a lending business — our content is grounded in real industry expertise, fact-checked against live RBI guidelines and current bank and NBFC policies, and built to help you make confident financial decisions.

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