Apply for Personal Loan in Chennai

50,000
40,00,000
0
5,00,000
0
3,00,000

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Bank Interest Rate EMI
HDFC Bank 11.49% - 19.50%

(fixed)

2,199 - 2,622

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 Year lock in
  • 4% fee if closed after 1 year. Can be 0% if booked under golden edge program
  • 3% fee if closed after 2 years
  • 2% fee if closed after 3 years
  • 0% thereafter

Part-Payment Option

Not available

ICICI Bank 11.49% - 17.85%

(fixed)

2,199 - 2,531

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter. 0% if loan amount >10 lacs

Part-Payment Option

Not available

Axis Bank 13.50% - 24.00%

(fixed)

2,301 - 2,877

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 0% after the 1st EMI

Part-Payment Option

Possible after 1st EMI. Minimum part payment to be 1 EMI's. Part payment allowed 6 times in a year.

Citi Bank 11.99% - 15.75%

(fixed)

2,224 - 2,419

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 0.5%-2% fee thereafter

Part-Payment Option

Possible after 12th EMI. Minimum part payment to be 2 EMI's and max 5 EMI's. Allowed only once a year.

IndusInd Bank 11.99% - 14.75%

(fixed)

2,224 - 2,366

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter

Part-Payment Option

Not available

Standard Chartered Bank 11.99% - 14.50%

(fixed)

2,224 - 2,353

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 0% thereafter

Part-Payment Option

Not available

Kotak Mahindra Bank 13.00% - 18.00%

(fixed)

2,275 - 2,539

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter

Part-Payment Option

Not available

Bajaj Finance 13.00% - 18.00%

(fixed)

2,275 - 2,539

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 0% after the 1st EMI

Part-Payment Option

Possible after 1st EMI. Minimum part payment to be 3 EMI’s. Part payment allowed 6 times in a year

Capital First 13.00% - 20.00%

(fixed)

2,275 - 2,649

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter

Part-Payment Option

Not available

Tata Capital 13.50% - 17.00%

(fixed)

2,301 - 2,485

(per Lakh)

Details Details

Documents Required

PAN Card, Address Proof, Govt ID Proof (Not required if already given as an address proof), 3 month payslip (with DOJ mentioned), 3 month bank statement, photograph. Additional documents on case to case basis.

Preclosure Charges

  • 1 year lock in
  • 5% fee thereafter

Part-Payment Option

Not available

All day customer support

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Tips

Rate of interest is high?

- Try applying for a higher loan amount as most banks reduce interest rates as loan amount increases.

Not getting the desired loan amount

- Try adding the income of a co-applicant like a working spouse

Not getting the desired loan amount?

- Finance Buddha can try to do a debt consolidation/balance transfer to increase eligibility

Personal Loan in Chennai

A personal loan in Chennai will help you complete all your monetary temporary needs. Whether it is a month old holiday that you have in plan or a desire to buy your favorite gadget, it is totally possible with a personal loan that is offered by various banks in Chennai. It’s time to start comparing and choosing the best bank that offers the best loan amount with low rate of interest. Loans are available as low as from 11.49% interest rates. The rest is dependent on the credit score and the income of each individual and of course the location where the applicant is located. Find your magical number now through Finance Buddha and make your dream a reality.

How Finance Buddha can help you get a Personal Loan in Chennai?

If you are in search of finding personal loan in Chennai from a bank that offers lowest interest rates, then the best place to look out for is Finance Buddha. Here you will get an option to compare the interest rates, processing fees and other charges and can accordingly decide which bank to choose for personal loan requirements.

Personal Loan Eligibility Criteria in Chennai

Like you all know, there eligibility criteria will differ from bank to bank, but to certain extend it will be same.

  • Age of the applicant should be between 21-60 Years
  • Salaried individual with minimum income of Rs 30,000. Salary bracket would again depend on the city you live in and the company you work for. Eg. If you are in a Metro the salary requirement will be higher than non-metro and again if you are working in a top MNC the salary requirement would be lesser than one working with a startup.
  • Should be staying in the city for at least 1 Year
  • Total work experience should be at least 2 Years
  • You would require basic documentation such as your address proof, identity proof, latest bank statements etc.

Personal Loan Documents Required in Chennai

Documents required for Salaried Individuals:

Application form and your latest photograph (2)

Proof of identity: Copy of passport/voter ID card/driving license/PAN cards

Proof of address: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport

House ownership Proof: Property Documents/Maintenance Bill/Electricity Bill

Bank statement - Last 3 months bank statement

Income proof: Salary slip for last 3 months/ current dated salary certificate with the latest Form 16

Investment Proof (if any): Please submit if any investment like, Fixed Deposit, Shares, Fixed Assets, etc.

Existing EMI: If any existing loan, please submit sanction letter, Payment Track Record.

Documents required for Self-Employed Individuals:

Application form and your latest photograph (2)

Proof of identity for Residence: Copy of passport/voter ID card/driving license/PAN card

Proof of address: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport

House ownership Proof: Property Documents/Maintenance Bill/Electricity Bill

Office Address Proof: Maintenance Bill, Utility Bill

Office Ownership Proof: Property Documents, Maintenance Bill, Electricity Bill

Business Existence Proof: Saral Copy for 3 yrs, Shop Establishment Act, Any Tax Registration Copy, Company Registration license

Income Proof: Latest 2 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,

Bank Statement: Latest 1 year bank statement both current and savings.

Investment Proof (if any): please submit if any investments like, Fixed Deposit, Shares, Fixed Assets, etc.

Existing EMI: If any existing loan, please submit sanction letter, Payment Track Record.

Documents Required for a Personal Loan in Chennai

Documentations play a very important role in the personal loan approval. Unless all necessary documents are submitted with accurate information the loan will not be approved.

  1. Three passport size photographs
  2. ID proof – Passport/voter ID/ Aadhar or drivers license
  3. Residence Proof – Passport/ Landline bill/ postpaid mobile bill/ rental agreement or Bank Statement
  4. Pan Card copy
  5. Age Proof – Passport/ driver’s license/school certificate or Pan Card copy
  6. Income Proof - Latest 3 months’ salary slips
  7. Banking Statement - 6 months bank statements
  8. Job Stability & Continuity – Offer Letter, Relieving Letter and Form 16

Personal Loan Interest Rates, Fees & Charges in Chennai

The rate of interest, charges and fees vary from bank to bank. The list of these details is given below for applying a personal loan in Chennai.

Personal Loan Chennai details:
Interest Rates 11.49% – 26.00%
Processing Fees 0.99% – 3.00%
Pre-payment Charges Nil – 5.00%
Repayment Period Upto 7 years
CIBIL Score Min. 750
Lowest EMI INR 2199.26 per INR 100,000

Personal Loan Interest Rates 2017
Bank Interest Rates
HDFC Bank

11.49 - 19.50%

ICICI Bank

11.49 - 17.99%

Bajaj Finserv

11.49%

Fullerton India

21.00 - 32.00%

Kotak Mahindra

11.50 - 20.00%

IndusInd Bank

12.99 - 17.00%

Standard Chartered

11.99 - 15.00%


Processing Fees / Prepayment Charges
Bank Processing Fee Pre-payment charges
Bajaj Finserv

2 - 2.5%

Nil

ICICI Bank

0.8% - 2.00%

Zero or 5.00%

Axis Bank

2.00%

Nil

Kotak Mahindra

1.5 - 2.00%

5.00%

HDFC Bank

0.8% - 2.00%

4.00%

Fullerton India

N.A

4.00%


Frequently Asked Questions