Shriram One Personal Loan – 15 Lakh Personal Loan Without Any Collateral

Shriram One Personal Loan

personal finance, access to quick and hassle-free loans has become increasingly crucial for individuals seeking to manage their financial needs. Shriram One Personal Loan stands out as a prominent solution, offering up to ₹15 lakh without the need for collateral. This essay delves into the features, benefits, and workings of the Shriram One Personal Loan, providing a comprehensive understanding of how this financial product can assist borrowers in achieving their financial goals.

The Need for Personal Loans

Personal loans have gained significant traction as a financial tool due to their versatility and ease of access. Unlike other types of loans that are earmarked for specific purposes, personal loans can be utilized for a variety of needs including medical expenses, home renovations, education, debt consolidation, and even travel. The flexibility offered by personal loans makes them an attractive option for borrowers.

The primary appeal of a personal loan lies in its unsecured nature, meaning borrowers are not required to pledge any collateral. This aspect is particularly beneficial for individuals who may not have assets to secure a loan or prefer not to risk their assets. Furthermore, personal loans typically involve a straightforward application process, quick disbursal, and a fixed repayment schedule, which provides borrowers with clarity and predictability in managing their finances.

Also Read… Get 25 Lakh Instant Personal Loan From BOI

Shriram One Personal Loan: Features and Benefits

Shriram One Personal Loan is designed to meet the diverse financial needs of individuals by offering a range of attractive features and benefits. Here is a detailed look at what makes this loan product stand out:

Loan Amount

Borrowers can avail of a loan amount up to ₹15 lakh, depending on their eligibility and financial profile. This substantial loan amount can cater to various significant financial requirements, providing borrowers with the necessary funds to address their needs.

Interest Rate/Annual Percentage Rate (APR)

The interest rate for Shriram One Personal Loan ranges from 12% to 36% per annum. The exact rate is determined based on the borrower’s credit score, income, and other eligibility criteria. The competitive interest rates make this loan an affordable option for many borrowers.

Loan Tenure

The loan tenure ranges from 12 to 36 months, allowing borrowers to choose a repayment period that suits their financial situation. This flexibility in tenure ensures that borrowers can manage their monthly payments comfortably.

Processing Fees

A processing fee of up to 3% of the loan amount is charged, excluding GST. While this fee is a one-time charge, it is important for borrowers to factor it into their overall cost of borrowing.

No Collateral Required

One of the most significant advantages of Shriram One Personal Loan is that it does not require any collateral. This means borrowers do not need to pledge any assets to secure the loan, making it accessible to a wider audience.

Example: How a Shriram Personal Loan Works

To better understand the workings of the Shriram One Personal Loan, let’s consider a practical example:

  • Loan Amount: ₹1,00,000
  • Tenure: 24 months
  • Interest Rate: 1% per month for 24 months (interest calculated on reducing balance method)
  • EMI: ₹4,707
  • Total Interest Payable: ₹4,707 x 24 months – ₹1,00,000 = ₹12,968
  • Processing Fees (excluding GST): ₹2,000
  • Disbursed Amount: ₹1,00,000 – ₹2,000 = ₹98,000
  • Total Amount Payable: ₹4,707 x 24 months = ₹1,12,968
  • Total Cost of Loan: Interest Amount + Processing Fees = ₹12,968 + ₹2,000 = ₹14,968

In this example, a borrower taking a loan of ₹1,00,000 for a tenure of 24 months at an interest rate of 1% per month will pay an EMI of ₹4,707. Over the 24 months, the total interest payable will be ₹12,968. After accounting for the processing fee of ₹2,000, the disbursed amount will be ₹98,000. The total amount payable by the end of the tenure will be ₹1,12,968, making the total cost of the loan ₹14,968.

Applying for Shriram One Personal Loan

The application process for Shriram One Personal Loan is designed to be simple and user-friendly. Here are the steps involved:

  1. Eligibility Check: Prospective borrowers can check their eligibility for the loan by visiting the Shriram Finance website or contacting a representative. Eligibility is typically based on factors such as age, income, employment status, and credit score.
  2. Documentation: Borrowers need to submit essential documents such as identity proof, address proof, income proof, and bank statements. These documents help verify the borrower’s financial stability and repayment capacity.
  3. Loan Application: The loan application can be filled out online or at a Shriram Finance branch. The application form requires basic personal and financial details.
  4. Approval and Disbursal: Once the application is submitted, the lender reviews the documents and application details. Upon approval, the loan amount is disbursed to the borrower’s bank account, typically within a few days.

Managing Your Personal Loan

Effective management of a personal loan is crucial to ensure timely repayment and to avoid any financial strain. Here are some tips for managing your Shriram One Personal Loan:

  1. Budgeting: Create a budget that includes your monthly EMI payments. Ensure that your income comfortably covers all your expenses, including the EMI.
  2. Automated Payments: Set up automated payments for your EMI to avoid missing due dates. This helps maintain a good credit score and ensures timely repayment.
  3. Emergency Fund: Maintain an emergency fund to cover unforeseen expenses. This fund can help you continue your EMI payments even during financial emergencies.
  4. Regular Monitoring: Keep track of your loan statements and monitor your repayment progress. This helps in identifying any discrepancies and ensures that your loan is on track.

Advantages of Shriram One Personal Loan

The Shriram One Personal Loan offers several advantages that make it an attractive financial product for borrowers:

  1. Quick Disbursal: The loan process is streamlined to ensure quick approval and disbursal, providing borrowers with timely access to funds.
  2. No Collateral Requirement: The unsecured nature of the loan eliminates the need for borrowers to pledge assets, reducing financial risk.
  3. Flexible Tenure: The choice of loan tenure from 12 to 36 months allows borrowers to select a repayment period that suits their financial situation.
  4. Competitive Interest Rates: The interest rates offered are competitive, making the loan affordable and manageable for borrowers.
  5. High Loan Amount: With a loan amount of up to ₹15 lakh, borrowers can address substantial financial needs.


Shriram One Personal Loan stands out as a versatile and accessible financial product, catering to a wide range of financial needs without the requirement for collateral. With a substantial loan amount, competitive interest rates, and flexible tenure, it offers a practical solution for individuals seeking to manage their finances effectively.

The loan application process is straightforward, and the quick disbursal of funds ensures that borrowers can address their financial needs promptly. By following effective loan management practices, borrowers can enjoy the benefits of the Shriram One Personal Loan while maintaining financial stability.

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