Personal Loan in Chennai - Apply Online @10.25%

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.

Personal Loans are available as low as from 10.89% 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.

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.

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

1. Age of the applicant should be between 21-60 Years
2. Salaried individual with minimum income of ₹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.
3. Should be staying in the city for at least 1 Year
4. Total work experience should be at least 2 Years
5. You would require basic documentation such as your address proof, identity proof, latest bank statements etc.

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 Offers from 19 Banks / NBFCs in Chennai (updated 25 May,2023)

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.

Documents required for Salaried Employees:

1. Application form and your latest photograph (2)
2. Identity Proof: Copy of passport / voter ID card / driving license / PAN cards.
3. Address Proof: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport.
4. House Ownership Proof: Property Documents / Maintenance Bill / Electricity Bill
5. Bank Statement: Last 3 months bank statement.
6. Income Proof: Salary slip for last 3 months / current dated salary certificate with the latest Form 16.

Documents required for Self-Employed Individuals:

1. Application form and your latest photograph (2)
2. Identity Proof: Copy of passport / voter ID card / driving license / PAN card
3. Address Proof: Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport
4. House Ownership Proof: Property Documents / Maintenance Bill / Electricity Bill
5. Office Address Proof: Maintenance Bill, Utility Bill
6. Office Ownership Proof: Property Documents, Maintenance Bill, Electricity Bill
7. Business Existence Proof: Saral Copy for 3 years, Shop Establishment Act, Any Tax Registration Copy, Company Registration license
8. Income Proof: Latest 2 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
9. Bank Statement: Latest 1 year bank statement both current and savings.