Shriram City records highest-ever 2-wheeler loans of Rs 1,022 cr in November

With the increasing demand for electric vehicles (EVs), the NBFC foresees a rise in the average loan ticket size which will help in touching new milestones, according to a company release.

This was the second consecutive November when the NBFC has crossed the Rs 1,000-crore disbursement mark.
This was the second consecutive November when the NBFC has crossed the Rs 1,000-crore disbursement mark.

Shriram City Union Finance, the Chennai-based leading two-wheeler NBFC and part of Shriram Group, has disbursed the highest ever loans amounting to Rs 1,022 crore to 1.6 lakh two-wheelers in November 2021.

This was the second consecutive November when the NBFC has crossed the Rs 1,000-crore disbursement mark. The attractive financing offers during the festive season have stood out as one of the key drivers, with an additional push by the increase in people movement and recovery in rural demand leading to elevated disbursements. With the increasing demand for electric vehicles (EVs), the NBFC foresees a rise in the average loan ticket size which will help in touching new milestones, according to a company release.

Shriram City primarily caters to salaried and non-salaried buyers inclined towards the entry-segment two-wheelers having the highest demand across categories. The growing demand and intuitive use of AI-powered lending interfaces have triggered mass adoption by consumers and channels, thereby creating a network effect in further adding volumes. Followed by their milestone of financing over 1 crore two-wheelers, Shriram City Union is now the largest two-wheeler financer in India, offering app-based lending, paperless receipting, and contactless loans, it added.

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