The country's largest two-wheeler financer - Shriram City Union Finance has launched an artificial intelligence (AI) enabled lending platform - Express Two-wheeler Loans (E2L), that allows an instant loan approval of up to 100 per cent on the on-road price of two-wheelers. This is a fully digital and paperless two-wheeler loan facility for customers, which will be available 24x7 and allow the in-principal approval without having to physically visit the branch to submit documents.
Here's how you can apply for a loan approval through the Express Two-wheeler Loans (E2L) platform:
Log in to Shriram City Union Finance
Click on two-wheeler loans - option 'Apply now'
or download the MyShriramCity App.
Step 1: Provide your basic details
Step 2: Select the vehicle
Step 3: Mention your financial details
Step 4: Upload your documents
Step 5: Get an online voucher (the in-principal sanction letter)
Step 6: Visit the dealer for your bike delivery
One of the defining features of the Express two-wheeler Loans is the BRE supported AI-based tool, which calculates eligibility and generates an in-principal sanction letter or voucher. Customers can present the voucher number to the respective dealer. Customers are given maximum eligibility, which also allows them to choose a costlier brand if required.
'The platform will allow both existing and non-Shriram City customers to avail instant two-wheeler loans through our app or website in a completely paperless and digital manner. Technology is the backbone of all innovation at Shriram Group, and we are constantly working towards providing a superior customer experience,' said Mr YS Chakravarti, MD & CEO, Shriram City Union Finance.
On Tuesday, September 7, shares of Shriram City Union Finance settled 2.01 per cent higher at Rs 2,364.25 apiece on the BSE. Shriram City Union Finance opened on the BSE at Rs 2,289.75, registering an intra day high of Rs 2,408.70 and an intra day low of Rs 2,284.25, throughout the trading session today.
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