Shriram Housing Finance Limited, a Mumbai-based affordable housing finance company, promoted by Shriram City Union Finance (Shriram City) and part of the Shriram Group has launched festive offers for non-salaried home borrowers. The company has slashed processing fee by 0.50% and offers a 0.50% reduction in interest rates for online home loan applications. The company has also rolled out additional processing fee waiver for borrowers who want to switch from other institutions. To add to the festive spirit, the company offers Gift voucher worth Rs.5000 on every online application disbursed. Borrowers can avail the scheme via the SHFL Home Loan app or the website for a two month period beginning October 4 and ending November 30, 2021.

Shriram Housing Finance has announced these festive offers to attract new borrowers as well as those of other financial institutions who may wish to switch lenders. Interest rates for those with credit scores of above 700 start at 8.4% percent across loan slabs.

Commenting on the festive offer Mr. Ravi Subramanian, MD & CEO, Shriram Housing Finance said: “There has been a significant demand revival in the affordable housing segment and the festive season booking trends are looking quite encouraging. Shriram Housing Finance caters to a mix of the affordable and mid-market home loan segments and a majority of our customers are non-salaried where we are witnessing renewed demand for buying homes. The appetite for owning homes among buyers is higher than the demand trend witnessed during the pre-pandemic times in Tier II and Tier III cities. Many customers are also investing in home renovations to expand their living space or upgrade to larger homes. We wish to bring cheer to customers with these festive offers, as the majority of the non-salaried borrowers have faced cash flow stress in the last one-and-a-half years due to the COVID induced pandemic.”