Chennai Car Loan

Chennai Car Loan
 4.0 / 5.0   by 319 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 31 Oct 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 16 1 2 3 4 5
  • Validated User
    (0)

    When I applied for car loan from hdfc bank the response was very good. They called me immediately and fixed an appointment for 121 conversation. Currently postponed the plan of availing the new car loan. Rate of interest was very competitive as per the market.

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

    I havent received any calls from hdfc bank for my car loan application. I have been maintained the account from them however they needs to give some response for existing customer. They really needs to improve on their services and follow ups.

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

    I felt it so useful to get the car loan from SBI bank. I did direct approach with them, The overall service was good, within 4 to 5 days my loan got disbursed I approached Rs.3lack they approved the same amount what I did with them , interest rate is also quite acceptable which is 10.9%.It is very availed to me.

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    took a Car Loan from STATE BANK OF INDIA Reviewed on
  • Validated User
    (0)

    ICICI bank has processed the car loan quick because they donâ??t want to lose customers. My salary account is already with ICICI bank so as being privilege customer, the car loan got disbursed as earlier and the executives were transparent enough in providing information. The documentation process was very fast and completed in a short time. The rate of interest is bit high but they were performing good.

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

    Once I did applied car loan with HDFC bank, The response was quite prompt, They provided me good response, Interest what they offered is little bit high to compare other banks which is 11.5%, I was expected 10.5% but they approved as 11.5%, However I arranged money from other source so unfortunately I unable to take my car loan with HDFC.

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

    Service is excellent with SBI and they are fulfilling customers need more than expectation. Actually, I availed Car loan through my organization thus I got best rate of interest from SBI. SBI is offering low rate of interest however they are charging bit high in charges. I was informed that they would disburse the car loan within 7 days but overall it took 2 weeks.

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

    I am not sure of when hdfc bank representatives called me when I applied . I guess they called me within 2 days from the date of my car loan application. At that time when they called me I personally asked them to hold the loan.They explained the interest rates in proper way for me to understand and it was quite reasonable too

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

    I have postponed the plan of taking a car loan with ICICI. As everything is perfect, no issues so far. The rate of interest offered by them is really good and the processing fee is quite reasonable I have planned to re-apply after 2 months . I would certainly get in touch with them after 2 months time.

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

    When I submitted my car loan application immediately hdfc bank called me and explained about full details about eligibility . Rate of interest quite normal when compared to other banks. Personally I requested to close the loan application .

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

    I have an OD account with Karnataka bank through which I had recently taken a car loan. The documentation process very fast and my loan was disbursed within 3 days of time. They offered me an interest rate of 10.25% and they didn't charge me any processing at all. It was overall a fantastic experience.

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

    It was a smooth experience of availing a car loan from SBI last month. There was no much paper work and I visited the branch only once for signing the documents. The processing was very fast and my loan was approved on a single day at a rate of interest around 10.45%. Best part is no processing fee and no charges for part payment & pre-closure.

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

    I had applied for a car loan with AXIS bank however I had availed the loan from another bank. I felt the rate of interest offered by AXIS bank was quite higher than the bank from which I had taken the loan. Also the part payment and pre-closure charges are applicable with AXIS bank. Only thing is they waive off the processing fee.

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

    It was through the car dealer I had availed a car loan from HDFC bank. HDFC person who was handling my carse was very good & helpful. It was very simple for me to avail the loan from HDFC bank. They offered me 100% loan of on-road price. My loan was disbursed within 5 days of time at a rate of interest of 10.58%.

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

    I don't have any bad experience with AXIS bank on applying a car loan. I was looking for 100% loan of on-road price but they were offering me 100% loan of the ex-showroom price. I have not experienced the complete service from AXIS however it was very good. The executive who called me from AXIS was not that much energetic. It would be better if the customer service executives are well knowledged and pro-acitve.

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

    I was not fully satisfied on availing a car loan from ICICI bank last month. There couple of things I was not happy with are the rate of interest and the processing fee. They initially committed 14% only but they offered me an interest rate of 14.5% at last. Also the processing fee was very high. There was no transparency from ICICI bank and I still didn't get the agreement papers.

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

    I did applied my car loan with HDFC bank, Customer service was good, They informed me all clear details about my loan processing, The only point the rate of interest, Processing fees is very high with compare other banks. There is no part payment facilities also so I dropped my approach with HDFC bank.

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

    I was quite disappointed about AXIS bank because the rate of interest for a car loan was not the same as communicated in the beginning. Therefore I had dropped the plan of availing the loan from AXIS bank and my car loan application has been closed as of now. I think there was no calls from AXIS bank after the first two calls. It would be better if they fulfill their commitments.

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

    I had no problem in availing a car loan from ICICI bank last month. The processing was very quick and my loan was disbursed within 4 to 5 days of time at a rate of interest of 10.15%. I think the processing fee was little bit high. I had only one difficulty that the due date falls in the 1st of every month which may be missed if there is a delay in crediting the salary.

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

    I got a very good service from ICICI has I have taken a car loan through them. My only concern , was the foreclosure charges , as other Banks does not charge anything for foreclosure. The best part about ICICI Bank is the service I like the way they responded, it took about hardly 1 or 2 days time for the loan amount to get sanctioned and to get transferred . I am Banking with ICICI for quite some time , I also hold a home loan account with them and I know how it works.

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

    Feedback for ICICI Bank car loan is awesome, documentation process is quite simple. The required amount was sanctioned processing fee is 0% there is no other problem. I am quite happy with the interest rate which is 10.76%. I would have been much happier if its better than this as well.

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    took a Car Loan from ICICI BANK on BankBazaar.com Reviewed on
Customer Reviews
Page 1 of 16 1 2 3 4 5
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