Chennai Car Loan

Chennai Car Loan
 4.0 / 5.0   by 152 users
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Chennai formerly known as Madras, this 369-year-old city is the capital of the southern state of Tamilnadu and is India's sixth-largest city in terms of population.It serves as one of the main gateways to South India and has a thriving local culture and art scene and is one of the major destinations for medical tourism. It is considered as one of the world's fastest growing cities.

About Car Finance: Personal Car Finance is a complete subsector of personal finance, with numerous different products available. These include a straightforward car loan, hire purchase, personal contract hire (car leasing) and Personal Contract Purchase. Therefore car finance includes but is not limited to vehicle leasing. These different types of car finance are possible because of the high residual value of cars and the second hand car market, which enables other forms of financing beyond pure unsecured loans.


You’re probably eligible for an Chennai Car Loan if you are

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Chennai Car Loan Minimum Age

At least 21 years old

Chennai Car Loan Maximum Age

Less than 67 years old

Chennai Car Loan Eligible Employment Type

Salaried / Self – Employed
with regular income

Chennai Car Loan Minimum Income

Earn more than the minimum
income required


Your Chennai Car Loan amount eligibility is based on these factors

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Chennai Car Loan Minimum Salary

Minimum income required Rs.2,40,000 per annum

Chennai Car Loan Maximum Loan to Value

Loan capped @
85% Ex-Showroom price

Chennai Car Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible Chennai Car Loan amount by these steps

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Chennai Car Loan Payoff Outstanding Credit Card Bills

Pay off your credit card bills

Chennai Car Loan Maximum Tenure

Choose longer tenure loan up to 5 years


Documentation needed to apply for an Chennai Car Loan

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary – slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:

    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Chennai Car Loan Interest RatesUpdated on 23 Jul 2014

Chennai Car Loan Details
Interest Rate (Monthly reducing balance) 10.5% - 12.75%
Processing Fees Rs. 500 to Rs, 5,000
Loan Tenure 1 year to 5 years
Pre-closure Charges 2% to 4% on outstanding loan amount
Guarantor Requirement No guarantor required

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Chennai Car Loan Reviews

Customer Reviews
Page 1 of 8 1 2 3 4 5
  • Validated User

    Everything was done on a single day ICICI Car loan is very quick there are no complaints they followed me every well and they came to my place and all my documents were collected on time and I got my car very quickly it was unbelievable and I really happy with their service and overall its good.

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    took a Car Loan from ICICI BANK on BankBazaar.com Reviewed on
  • Very Good
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    PADMAVATHI SUBRAMANIAIYER, chennai
    Recommend Recommended by user
    Validated User
    (2)

    I applied for the car loan from Axis Bank the processing and the documentation was very quick and the customer service executive Mr Kalyaan who took the initiative in completing the process in a quick time and the whole process got completed in two days.

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    took a Car Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Excellent
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    THIYAGARJAN VENKATESAN, chennai
    Recommend Recommended by user
    Validated User

    It was excellent service from both HDFC bank and bank bazaar when I applied for a car loan. Finally I received my loan amount last month. Documentation was very quick & easy. Processing time was just 3 to 4 days. Bank executive who met me for collecting documents was very friendly & helpful. I am quite satisfied with the rate of interest.

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    took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Excellent
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    GOWRIKANTHAN SUBRAMANIYAN, chennai
    Recommend Recommended by user
    Validated User
    (0)

    I had a great experience with the Axis Bank car loan the processing and the documentation was very easy and the customer service executive Mr Kalyan who was very friendly and he took the initiative in completing the process and the whole process got completed in four days.

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    took a Car Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Fantastic job
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    SYED PASHA SADIQ, chennai
    Recommend Recommended by user
    Validated User
    (4)

    I availed car loan from State bank of Hyderabad by 10th april where it was a very simple process. The processing of the car loan was very easy and it took 1 day for getting my loan sanctioned, all the documents were collected and for signing up the documents i went to the bank. One more point is the car dealer is nearby so it was more comfortable. Processing fee and charges were reasonable.

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    took a Car Loan from STATE BANK OF HYDERABAD on BankBazaar.com Reviewed on
  • Excellent service!
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    NAGA BABU CHENNUPATI, chennai
    Recommend Recommended by user
    Validated User
    (0)

    I had to cancel my car loan application due to high EMI. Otherwise, HDFC bank is very responsible and good in all perspective. They followed up timely and the communication was good between me and the bank. Overall HDFC bank services are really good.

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    took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have availed a car loan from AXIS bank a month ago. The bank representatives are not good enough to assist the customers and they are less process knowledged. No proper follow up and lack of communication. I would suggest the bank to be more transparent to their customers.

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    took a Car Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Extremely good
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    BAKKIALAKSHMI S, chennai
    Recommend Recommended by user
    Validated User

    Had a very good experience of applying a car loan an year ago. Debiting EMI of the loans always happen with prior notification to the customers. SBI is excellent exclusively for car loan. Rate of interest was absolutely good and the pre-closure can be don't at anytime without any extra charges. SMS alert on all the debits are promptly received on time.

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    took a Car Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • GOOD CAR LOAN
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    RENGASWAMY NARAYANAN, chennai
    Recommend Recommended by user
    Validated User
    (9)

    HDFC Car Loan is good, they provide 90% of Loan to Value and I paid 10% as cash payment -down payment, they helped me finding a good dealer the documentation procedure was simple, they have infact given me a preferential rate of interest so its good.

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    took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Feedback for AXIS BANK
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    SARAVANA CHOKKALINGAM KUMAR, chennai
    Recommend Recommended by user
    Validated User
    (7)

    AXIS Bank Car Loan is good. Axis bank is the best and the only Bank which allows customers to make a lump sum payment, the next day after availing the loan which is really awesome and apart from that they processed the loan quickly and the EMI is exactly the same as mentioned in the approval letter unlike other Banks where the EMI amount varies.

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    took a Car Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Axis Must Improve the Service
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    SANKARALINGAPANDIAN MEENAKANIARASU, chennai
    Recommend Recommended by user
    Validated User

    Services of Axis Bank was fine. They did a good follow up and disbursed my loan within 1 week. Axis Bank sent executives for document collection and provided me door step services. Their processing fee and rate of interest was less when compared with other banks.

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    took a Car Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (5)

    HDFC Bank customer service and response was really good.It was simple to use and i like their net banking facility and i haven't faced any problem with HDFC Bank, it will be good they reduce their rate of interest and even they have long way to go...they are good enough in terms serving customer.

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    took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (7)

    Bankbazaar website was too good in terms of customer service,communication and contacting customer frequently on time. HDFC Bank is one of the best bank in the market to opt loan,though i have a salary a/c with them it was essay for me to interact ,and it will be good if they zero-wise their processing fee apart from that am quite happy to deal with them.

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    took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (3)

    I am having my salary account with ICICI for last twelve years. I got a preapproved loan from them, they were calling since last two years for this loan. They did not charge any fees for the this loan. They processed my loan within a day's time with minimum documents. They were clear with what they want!

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    took a Car Loan from ICICI BANK on BankBazaar.com Reviewed on
  • Great service HDFC Bank!
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    NAVEEN VASUDEV BHERUMAL SAMTANI, chennai
    Recommend Recommended by user
    Validated User
    (3)

    HDFC Bank was very user friendly from the time I applied and till disbursement of my Car loan. My salary account with HDFC made it easy for my loan process. They also gave me low rate of interest and partial payment facility. Processing fees is low when I compared it with Axis Bank. I really appreciate Bankbazaar website except that you did not give an offer from HDFC Bank apart from that website is excellent. I have no words to explain how excellent customer service from Bankbazaar is, I got a call immediately and they explained me a lot about all the required information.

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    took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Kotak process my loan in a day's time
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    NAVEEN VASUDEV BHERUMAL SAMTANI, chennai
    Recommend Recommended by user
    Validated User
    (2)

    Kotak Mahindra was good. I gave them the required documents and they processed my loan in a day's time. I did apply with Axis Bank and they took some time to process. When I compared Kotak and Axis I found chose Kotak for their quick process. Am very happy with Bankbazaar thats the reason I had applied with on your site. Customer service from Bankbazaar was fine.

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    took a Car Loan from KOTAK MAHINDRA BANK on BankBazaar.com Reviewed on
  • SBI was good
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    PARAMJYOTHI RAMALINGAM, chennai
    Recommend Recommended by user
    Validated User
    (6)

    I got my car loan from State Bank of India. The documentation what they asked for minimum and they took tow to three days to process my loan. Am not sure about the rate of interest from them but its reasonable. I logged to Bankbazaar website to explore the rate and deals, which was helpful and I got good information. Unfortunately I was unable to go through Bankbazaar as the dealer had his tie up with SBI. Bankbazaar customer service was good and they did regular follow up.

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    took a Car Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Timely approval
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    HARISANKAR RAVUNNIPANICKER KALARICKEL, chennai
    Recommend Recommended by user
    Validated User
    (0)

    Initially I was referred to Bankbazaar from my friend. Since I got my salary account with Axis Bank I chose to take loan from them. But there was no proper response from Axis Bank, I waited for long and then I got my loan from Sundaram Finance as I wanted the loan immediately though there rate of interest was high with 12%. Documentation was normal as any other Bank which I had it ready. I also got my loan in a day's time. Later when Axis Bank called me by that time I had already got my loan from Sundaram Finance. Customer service from Bankbazaar was good.

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    took a Car Loan from SUNDARAM FINANCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    HDFC Bank is really nice as they processed my loan at a very normal rate like other banks. I got a very good response from them and customer support is also fine. Documentation process is very simple with HDFC but they took 40 days to approve my loan which is pretty bad. They should reduce the processing time.

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    took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Validated User
    (1)

    Getting the loan process done by Axis Bank was very useful,executives were very supportive and they took care of the entire loan process without any trouble.Documentation process was very simple and they did the approval with the documents what i had given them. No additional papers were collected and overall Axis Bank service was good.

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    took a Car Loan from AXIS BANK on BankBazaar.com Reviewed on
Customer Reviews
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