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If you really think about it, it's easier getting a loan for a car than a loan for bus fare!

Chennai Car Loan

Chennai Car Loan
 4.0 / 5.0   by 395 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 01 Apr 2015

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 20 1 2 3 4 5
  • (0)

    Actually I have taken a car loan with HDFC Bank. The representative who spoke with me was really good. Response provided by them was really good. Interest rate offered by them was 10.15% and I have paid the 1ST EMI and insurance is being added to the loan. It would be great, if they have provided the information about the features of the loan in advance as, I am not aware about the preclosure charges, part payment and components of EMI.

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    vijay took a Car Loan from HDFC BANK Reviewed on
  • (0)

    I am holding a car loan with HDFC Bank. The customer service offered by them was really good. Interest rate offered by them was in line with the market rate. The staff their were very friendly and they kept up their promise. They did not provide any misleading information. More than all , they have waived off my processing fee and they took about 2 or 3 days of time to process the loan.

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    sai took a Car Loan from HDFC BANK Reviewed on
  • Validated User
    (0)

    My loan was approved but it was kept in hold because they said there is a kind of inquiry problem and they suggested me to pay certain amt and said if I do that payment they will not put my profile in cibil, I felt they did a kind of malpractice to collect that amount but I was not interested in that and I provided all documents and get the loan in a correct way.

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

    I am holding a car loan with HDFC Bank. The customer service offered by them was really good. Interest rate offered by them was in line with the market rate. The staff their were very friendly and they kept up their promise. They did not provide any misleading information. More than all , they have waived off my processing fee and they took about 2 or 3 days of time to process the loan.

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    sai took a Car Loan from HDFC BANK Reviewed on
  • (0)

    I am holding a car loan with HDFC Bank. The customer service offered by them was really good. Interest rate offered by them was in line with the market rate. The staff their were very friendly and they kept up their promise. They did not provide any misleading information. More than all , they have waived off my processing fee and they took about 2 or 3 days of time to process the loan.

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    sai took a Car Loan from HDFC BANK Reviewed on
  • Validated User
    (1)

    I am holding a car loan with HDFC Bank. The customer service offered by them was really good. Interest rate offered by them was in line with the market rate. The staff their were very friendly and they kept up their promise. They did not provide any misleading information. More than all , they have waived off my processing fee and they took about 2 or 3 days of time to process the loan.

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

    I am holding a car loan with HDFC Bank. The processing of the loan was very smooth . No issues with them. Executive who approached me for the loan responded quickly and their behaviour was very nice and communication was excellent. They took a week â??s time to sanction the loan after submitting the documents.

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

    It was a good experience with Axis Bank for the card loan I have taken. The rate of interest charged was nominal when compared to other. My loan got disbursed within 2 days and it was a fast and speedy process. The best part about Axis Bank was that there was no processing fee charged.

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    muthukannan took a Car Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (2)

    I am holding a car loan with HDFC Bank. They processed the loan within 7 to 10 days. Documentation process was very simple and fast,. They are the best, processing fee charged by them was rs 8000. Interest rate offered by them was ok. I myself selected the car and its good.

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    narendran took a Car Loan from HDFC BANK Reviewed on
  • Validated User
    (0)

    I have taken a car loan with TATA Capital Limited, they provide loan at low rate of interest. It would be great if they provide concession on processing fee. They took hardly a week times to provide the loan. Documentation process was very simple. It is very easy to get in touch with them and honestly speaking they offered the best deal in the market that is the best part about them.

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    jagadeesh took a Car Loan from TATA CAPITAL LIMITED Reviewed on
  • Validated User
    (2)

    I am holding a car loan with HDFC Bank. The key benefits of this car loan are as follows, as I am holding a salary account with them, it was very easy for me to get the loan. They are very quick in responding to the customerâ??s query. They themselves voluntarily call the customer offer a top loan for a maximum amount and they always meet the customerâ??s expectation.

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    venkatesan took a Car Loan from HDFC BANK Reviewed on
  • Validated User
    (2)

    I am holding a car loan with ICICI Bank. This loan was taken on an emergency basis so I was forced to accept what ever interest they have charged. Rate of interest charged by them was 17% which is really high . Processing fee charged by them was 1% within a span of 2 days of time loan was processed the most exciting part is, every thing was done over the phone where I did not submit any documents.

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    md took a Car Loan from ICICI BANK Reviewed on
  • Validated User
    (0)

    Main reason to not take car loan with Axis bank is the interest rate because the rate is high and I did not get the expected. I was looking for 9.5% to 10% of interest rat with 0.5% of processing fee but Axis bank was only ready to give 12%. Internet banking of Axis bank is not up to the mark while comparing to other banks so it should be enhanced.

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    prakash took a Car Loan from AXIS BANK on BankBazaar.com Reviewed on
  • Validated User
    (2)

    I am holding a car loan with Axis Bank. There is no issues with them. The only challenge is, there was some issues while providing the documents as I did not sign the documents nor I have not been asked to. Later they got to me stating that I did not sign the documents. Its because of which the approval got delayed. My only suggestion for them is it would be great if their executives are educated.

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

    I did not take a car loan from TVS Credit. I am very much satisfied with their service. I thought of buying a 2nd hand car initially . Later I purchased a new car from Maruthi show room. The dealer himself helped to avail the loan, hence I was forced to cancel this application. The rate of interest offered by them was 17% to 18% which is on the higher side.

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    thangaraj took a Car Loan from TVS CREDIT SERVICES on BankBazaar.com Reviewed on
  • Validated User
    (0)

    My application is not processed with TVS Credit car loan . As the car model is 2008 . They initially processed the request, finally they said only 2009 and above model would be processed as it is a used card. So they have rejected my application . Customer service and response is really good.

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    manoj took a Car Loan from TVS CREDIT SERVICES on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I am holding a car loan with HDFC Bank. I would say HDFC Bank is the best bank . Be it any bank HDFC Bank ranks one. They are not looking out for more documents . They only ask about 80 % to 90% documents when compared with other Banks. They took about 3 to 5 days of time to provide the loan. Their processing is much better when compared with other banks.

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

    TVS Credit car loan is ok . There were 2 major reasons for not taking a car loan with them. Firstly, I have asked them to provide it for 5 years however they were able to provide it for 3 years only. Processing fee charged by them was way too high. HDFC Bank offered me an interest rate of 13.5% however TVS offered me around 16% to 18%.

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    gugan took a Car Loan from TVS CREDIT SERVICES on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I managed to arrange my own funds that is why I have not taken a car loan with TVS Credit. The processing fee charged by them was medium. Customer service offered by them was really good. Response was good. The only thing is, I often got a call from them to check whether I am interested for the loan or not.

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    david took a Car Loan from TVS CREDIT SERVICES on BankBazaar.com Reviewed on
  • Validated User
    (1)

    Rate of interest offered by TVS credit for the car loan was very high. Things were not easy as they were following their norms. Offcourse it has got its own brand name. However they are very strict when it comes to documents . They are not flexible. After submitting the documents I did not get a call from them confirming the application status and I was chasing them for the same

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    venkatachalam took a Car Loan from TVS CREDIT SERVICES on BankBazaar.com Reviewed on
Customer Reviews
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