Does Shriram Finance assess our Credit Score to Approve Personal Loan?

When it comes to obtaining a personal loan from Shriram Finance, you might wonder whether a credit score check is part of the approval process.  

Yes, Shriram Finance checks credit score for personal loan approval. 

Why?  

Shriram Finance, like most lenders, assesses your creditworthiness to determine your ability to repay the loan. Checking your credit history is a standard practice to assess and manage risk and ensure responsible lending. 

What Do They Look for?  

Shriram Finance typically reviews your credit score and credit history. A higher credit score usually improves your chances of approval. However, factors like your income and employment stability are also taken into account in the decision-making process. 

Impact of Credit Check:  

A credit check can affect your credit score slightly, but it's a necessary step in the loan application process. 

Shriram Finance does check credit score as a part of the loan approval process, but other factors are also considered. Maintaining a good credit history is essential for a smoother loan approval experience.