SMFG India Home Finance Company Limited (SMHFC), formerly Fullerton India Home Finance, is a housing finance company incorporated in August 2010 and promoted by Sumitomo Mitsui Financial Group (SMFG). As of March 2024, the company has an Assets Under Management (AUM) of Rs. 8,951 crore, with a growth of approximately 39% in FY24.

Also, you can easily make your Shri Ram Finance Corporation Pvt. Ltd. loan repayment through Bajaj Pay, the BBPS platform on Bajaj Finserv. You can avoid any hassle and easily make your loan repayments online.

Process for Shri Ram Finance Corporation Pvt. Ltd. loan settlement

Borrowers can follow these steps to complete the loan settlement process with Shri Ram Finance Corporation Pvt. Ltd.:

1. Contact customer service: Reach out to Shri Ram Finance Corporation Pvt. Ltd. for guidance.

2. Submit required documents: Provide necessary financial documents.

3. Negotiate terms: Discuss potential settlement terms with the lender.

4. Finalise agreement: Review and sign the settlement agreement.

Benefits of settling loans with Shri Ram Finance Corporation Pvt. Ltd.

1. Reduced financial burden: Settling can decrease the total amount owed.

2. Improved credit score: Successful settlements may enhance credit ratings over time.

3. Negotiable payment options: Borrowers can negotiate manageable payment plans.

Tips for a successful Shri Ram Finance Corporation Pvt. Ltd. loan settlement

1. Be proactive: Contact the lender as soon as financial challenges arise.

2. Provide accurate information: Share truthful and comprehensive details about your financial situation.

3. Understand the agreement: Read the settlement terms carefully before agreeing.

4. Negotiate wisely: Aim for a settlement amount that aligns with your current financial capacity.

5. Complete payments on time: Adhere to the agreed repayment schedule to ensure a smooth settlement.

Eligibility criteria for Shri Ram Finance Corporation Pvt. Ltd. loan settlement

Borrowers must meet the following criteria to be eligible for a loan settlement with Shri Ram Finance Corporation Pvt. Ltd.:

1. Demonstrated financial hardship: Provide evidence of genuine financial challenges preventing full repayment.

2. Overdue loan account: Loan settlement is typically available for accounts with overdue payments or defaults.

3. Document submission: Borrowers must submit necessary documents, such as proof of income and loan account details.

4. Mutual agreement: Both the borrower and Shri Ram Finance Corporation Pvt. Ltd. must agree to the settlement terms.

Steps for loan settlement using the Bajaj Finserv website

1. Visit the Bajaj Finserv website.

2. Go to the 'BILLS AND RECHARGES' section under the 'PAYMENTS' menu.

3. Under the 'FINANCIAL SERVICES and TAXES' category, select 'LOAN REPAYMENT'.

4. Choose your biller from the drop-down list - this could be Bajaj Auto Finance, Bajaj Finance, or another lender.

5. Enter your loan account number and click 'FETCH YOUR BILL.'

6. Select a preferred payment method from the options from the list of available payment options, such as credit/debit card, net banking, UPI, or e-Wallet using Bajaj Pay.

7. After choosing your preferred payment mode, enter the requested payment details in the comfort of your home.

8. You will receive a confirmation notification from Bajaj Finserv after the successful payment.

Fees and charges

A convenience fee of up to 2% will be charged depending on the transaction amount and payment mode (including applicable taxes). For more information on fees and charges, click here.

Note: For failed transactions, the total amount, including charges except taxes, is reversed.