Chennai Car Loan

Chennai Car Loan
 4.0 / 5.0   by 356 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 22 Dec 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 18 1 2 3 4 5
  • Validated User
    (0)

    I have also taken a car loan with HDFC Bank . It was before 3 years and its been closed successful. I have got all the documents pertaining to closure. No issues with them absolutely I have infact got a no due certificate.

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

    I applied for car loan from state bank of india where their services were very good and even the response was also good. The way they treated their customers was very good. They offered me the reasonable rate of interest compared with others

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

    Response was very good from hdfc bank when I applied for my car loan application. Customer service was very good. Personally I requested to close the loan . Their rate of interest was quite good when compared with others. When compared with nationalized banks it was slightly higher. When compared with nationalized banks it was slightly higher

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

    I got my car loan from hdfc bank through car dealer with quite high interest rates and competitive. Even they are very less when compared with other banks. They may improve on their customer service resposne. Overall good. I am quite satisfied by their services .

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

    Excellent service from icici bank where I availed my car loan from them. They dont even bother me by keep on calling me for any kind of issues. I got all the informations what I required . They offered me quite affordable interest rates when compared with other banks

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

    I feel completely happy with HDFC car loan services. One advantage is that the processing fees as well as rate of interest is quite lesser.Due to these two factors, I did chose HDFC for availing car loan. Even the customer service team did cooperate throughout the entire process.

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

    Really very satisfied with ICICI bank car loan service as they negotiated rate of interest as per my request and they waived of all charges. Comparing to other banks interest rate and service is good in ICICI bank. I visited branch of ICICI to avail car loan. ICICI is very good so keep going the same.

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

    Got response immediately from HDFC bank employees and within 3 days they disbursed the loan amount. I am highly satisfied with interest rate as they gave 10.5% for car loan and no foreclosure charge. Can foreclose the loan only after 18 months. No issues in process but not yet received car loan schedule.

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

    Quite normal services from icici bank for my car loan application . I bought the used car with the tenure of 2 years . The documentation process was too lengthy and it took 3 weeks of time to process the loan . Quite high interest rates for my used car . They can improve on their time taking process and consider to reduce the interest rates

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

    It was very nice and no huddles faced in availing car loan from HDFC. Overall processing was very faster and customer service executive did helped me a lot. Interest rate is as per the market rate.Response provided was quite good.

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

    Customer service was very good for my tvs credit services where I got my car loan from them . Within a week I got my loan with quite reasonable interest rate for my budget. The documentation was very simple when compared with others

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

    Two months before I applied Car loan with Axis bank but I skipped the plan of taking car loan. The rate of interest and charges were bit high in comparison with other banks. Otherwise, customer service is great and the executive has contacted me weekly once to give the status. To overall I am happy with Axis bank.

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

    I approached Axis bank for car loan before six months and my experience was good. The person who contacted me from Axis bank for car loan was kind and followed well. He contacted me often to give status and collect feedback from me in respect to car loan, which I ever seen with other banks. Concern from my end is that the mentioned details were insufficient and they did not convenience me. My suggestion is that, they could process faster and they could introduce multiple plans for working womens in respect with tenor period.

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

    Before 3 years back I got my car loan through car dealer from reliance . Rate of interest was quite competitive and affordable than other banks. Documentation process was quite easy to understand . I am quite satisfied by the services from them .

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    bhaylool took a Car Loan from RELIANCE COMMERCIAL FINANCE Reviewed on
  • Validated User
    (0)

    Customer service was very good from tvs credit card services . Really their follow ups are good than others. They are the best in the service provider for my loan. Rate of interest was quite high compared with others . It would be nice if they work on their interest rates.

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

    The process was very faster and the executive Kamal of AXIS bank did help me a lot and did a great job in disbursing the car loan.From my point of view, I would say the entire process was smooth and effective in manner. Am happy about the interest rate.

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

    I took one car loan from icici bank where I gave some postdated cheque and I faced some hassle while processing the loan . After some long conversations with their customer care the issues has been sorted out. It would be nice if they reduce the interest rate to help customers . Overall good

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

    The response was really good. The services was really good. The customer support executive Mr.Musthaffa was really helpful who came for more than 8 times for collecting all my documents and also gave me proper suggestions for availing the loan. The interest rate provided was 10.70% which is high and can be reduced which will be beneficial.

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

    Its good and quick process rendered by AXIS bank in terms of car loan. AXIS bank fulfilled my requirements and it was on time disbursal. Whatever was committed, it was done overall. Customer service did provide a quick response and the rates were quite comparable.

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

    I took one car loan from icici bank long back. Their response was very good when I applied loan. Their processing time was very good when compared with other banks. So far no hassle because of them. Overall customer service and response was quite good.

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    rajesh took a Car Loan from ICICI BANK Reviewed on
Customer Reviews
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