Shriram City Union Finance (Shriram City), India’s largest two-wheeler financier, has launched ‘Festive 3D Dussehra Diwali Dhamaka’ offers marking the beginning of festivities. Shriram City is offering an attractive rate of interest as low as 5.5%. Also, on timely repayment of EMIs, the customer stands to get a refund on one EMI. The scheme offers instant approval, zero processing fees and no documentation charges and zero advance EMI, with no hidden costs. All festive offers are valid till 30 November 2022.
📌 2-Wheeler ‘Festive Dhamaka’ introduced by Shriram City:
👉🏻 Low Interest Rate Scheme – The rate of interest charged is as low as 5.5%.
👉🏻 100% LTV Scheme – This scheme offers customers a low down payment option, thus the customers upfront cost reduces. Financial assistance is provided across all companies (manufacturers) products for all major costs.
👉🏻 2 Minutes Approval Scheme – An Instant loan approval, also known as “Green Channel”.
👉🏻 Triple Zero Scheme – Under this scheme, the customer will pay zero processing fee, zero documentation charges and No advance EMI.
👉🏻 Cash Back Offer – In this offer, if customers pay all instalments regularly as per the repayment schedule, one EMI will be refunded to them.
Commenting on the festive schemes, Mr YS Chakravarti, MD & CEO, Shriram City Union Finance said “After two subdued years, the spirit of celebration is finally returning, and the upbeat consumer sentiment is anticipated to propel sales and, in turn, expenditures. The regular monsoon is restoring faith in demand recovery in rural India as urban demand has recovered. Indicators of pre-festival demand for the month of August-September have been positive for 2-wheelers. We anticipate that the strength of 2-wheeler demand will continue into the Oct-nov festive season. Based on walk-ins and enquiries, we anticipate 2-wheeler disbursements to exceed the pre-pandemic levels throughout this festive season. Sales and financing of electric 2-Wheelers are also significantly higher than they were prior to the pandemic. Supply chain easing and the uptick in domestic consumption is likely to give a significant boost to seasonal demand”, he further added.
📌 About Shriram City Union Finance
Shriram City Union Finance (Shriram City; BSE: SHRMCITY, NSE: SHRIRAMCIT), a 35-year-old company and part of the Shriram Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sectors, the Company has over 4.55 million customers and has an Asset Under Management of around INR 404.1 Billion. The Company is a leading financier to Small Business Enterprises, is the largest two-wheeler financier, provides Gold loans and also has a Housing Finance Subsidiary, Shriram Housing Finance Ltd with an AUM of INR 58 Billion. Shriram City has 986 branches and an employee strength of over 28800 across India as of 30 Jun 2022. The company’s Long term credit rating is at AA by CRISIL, ICRA and India Ratings. Shriram City has been named one of the Best Places to Work in India in 2021 by AmbitionBox, an Info Edge subsidiary.
📌 About Shriram Group
Shriram Group is India’s leading financial conglomerate with a dominant presence in commercial vehicle (CV) financing, retail financing, chit fund, equipment financing, housing finance, life insurance, general insurance, stockbroking, distribution of financial products, and wealth advisory services. The Group focuses on serving the underserved and is driven by its Financial Inclusion agenda of bringing finance to low-income families and small businesses. Shriram Capital Limited is the holding company for the Financial Services (Shriram City Union Finance Limited & Shriram Transport Finance Limited) and Insurance entities (Shriram General Insurance Company Limited & Shriram Life Insurance Company Limited) of the Shriram Group. Shriram Housing Finance Limited is a subsidiary of Shriram City Union Finance Limited. The lending and insurance companies were created with the primary objective of optimizing the synergies across the Group entities.
Shriram Group together has an overall customer base of over 22.5 Million, with around 79,100 employees across 4,000 branches. Net profit of INR 53.6 billion with Assets Under Management (AUM) of over INR 2.16 trillion (as of Mar-22).
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