Shriram Finance Car Loan Interest Rate – Complete Guide & EMI Tips

 Key Takeaways
 

• Shriram Finance Car Loan Interest Rate for new/used cars starts from roughly 10% per annum. Final rates vary by credit profile, car age, and loan tenure.
   
• EMIs can be estimated using the Shriram Finance car loan interest rate calculator and the Shriram Finance car loan interest rate EMI calculator.
   
• The exact lending range can go up to ~36-42% depending on vehicle type and risk factors.

Bonus Tip: Shriram Finance has seen substantial growth of 49% in vehicle loan demand and 22% growth in interest income. It reflects rising auto financing trends in India’s NBFC sector.

 Meera, a Pune-based computer science developer, paused her VS Code build to compare Shriram Finance car loan interest rate options. She found Shriram Finance Car Loan Interest Rate 2025 competitive for both new and pre-owned vehicles, starting from around 10%.

Think of interest as the “rent” you pay the lender to borrow money. If Meera rents a Scooty from a friend for ₹1, she pays extra. Similarly, with car loans, the Shriram Finance Car Loan Interest Rate is the extra you pay yearly over the principal. 

Meera said, “I used the Shriram Finance car loan interest rate calculator online. I estimated the EMI on a ₹10,00,000 loan at ~10% Shriram Finance used car loan interest rate. I found my monthly EMI would cost close to ₹21,000 for a 5-year plan.”

Types of Shriram Finance Car Loans

Shriram Finance offers several vehicle financing types. Each comes with features tailored to different buyer needs and different Shriram Finance car loan interest rates. Here’s a snapshot:
 

*These ranges are from Shriram Finance’s published policy; actual rates depend on credit score and car specifics.

Shriram Finance used car loan interest rate starts at 10% per annum, helping buyers who want cost-effective used vehicle options. Overall, offerings balance accessibility and flexible repayment for salaried and self-employed applicants.

Shriram Finance Car Loan Processing Fees and Charges

Shriram Finance car loan processing fees may vary, but are typically up to 5% of the loan amount. It varies by loan type.
 

Shriram Finance car loan processing fees ensure loan processing and documentation. Always confirm exact charges with the branch.

How to Apply for a Shriram Finance Car Loan?

Here’s how Meera applied for her car loan and acquired her ideal Shriram Finance Car Loan interest rate:

1. Check the Shriram Finance car loan eligibility: Ensure age is 21-59 years and income meets the criteria.
2. Use online tools: Try the Shriram Finance car loan interest rate calculator and Shriram Finance car loan interest rate EMI calculator to estimate EMIs.
3. Gather documents: PAN, Aadhaar, income proofs, bank statements, and car details.
4. Submit the form: Fill out the online form on the Shriram Finance portal or visit a branch.
5. Wait for approval: Expect verification and loan sanction within a few days.

The process is digital and straightforward, perfect for IT professionals like Meera juggling sprints and showroom visits.

Conclusion

Meera cracked the Pune traffic as smartly as her Python bugs. With the Shriram Finance Car Loan Interest Rate 2025 starting from around 10%, she balanced her IT deadlines with loan planning. She used the Shriram Finance car loan interest rate calculator and EMI calculator. She found a plan as smooth as her weekend drive to FC Road. Though no Bollywood dance-off secured her discount, a clear understanding of fees and eligibility helped her hit the road with confidence.

FAQs Related to Shriram Finance Car Loan Interest Rates

Is the Shriram Finance interest rate higher than bank loans?
Some online discussions suggest car loan experiences vary; service quality, documentation timings, and support may differ. Experiences on Reddit highlight mixed views on service, not specifically interest pricing.

Are processing fees on the Shriram Finance Car Loan interest rate transparent?
Auto-loan threads often warn about hidden charges and documentation fees. For Shriram Finance, processing is up to ~5%, so verify with your loan expert. 

What is the Shriram Finance used car loan interest rate?
Shriram Finance used car loan interest rate starts at 10% per annum, with final pricing based on profile.

What eligibility do I need for a Shriram Finance car loan?
Applicants must be Indian residents aged 21-59 with a steady income. Both salaried and self-employed individuals qualify with the required documents.

What Shriram Finance car loan processing fee should I expect?
The Shriram Finance car loan processing fee can be up to ~5% of the loan value.

Can I mortgage my car to get a loan (i.e., use it as collateral)?
Yes, most banks and NBFCs in India allow you to use your car as collateral for a secured loan (often called a car-backed loan), where the vehicle’s value helps you get a larger loan amount or lower interest rate.

What is the minimum tenure for a car loan in India?
The minimum car loan tenure in India is typically 12 months (1 year), though some lenders may offer shorter terms depending on policy and loan amount.
 

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About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.