Chennai Car Loan

Chennai Car Loan
 4.0 / 5.0   by 365 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 28 Jan 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 19 1 2 3 4 5
  • Validated User
    (0)

    Related to my car loan application with ICICI, there was not even a single response from their team. Due to which, I had closed the car loan application. If they could had provide the exact status, it would had been helpful and better.

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

    As the interest rate was higher, I didn't prefer ICICI bank for availing car loan. One of the executive called up and intimated some interest rate and later part received the call stating its quite different. Hence, there were different variations and I were not much comfortable.

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

    I prefer HDFC for car loan as I have a existing relationship with them. Documentation was quite simple and overall hassle free process. I could say the rate of interest is competitive. It was a speedy processing.

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

    Related to car loan application with ICICI, there was no proper follow up calls received. Initial response was prompt. Customer service executive did approach in a very well way. Since its been 2 months back, I don't have much idea.

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

    When I applied for a car loan from ICICI bank the experience was good as my sister The loan was processed so quickly. I applied it recently and availed the loan yesterday. I got the loan amount disbursed within a day. The customer support was fine. The rate of interest was 10.5% and there was no processing fees but there was only a charge of Rs.40 as stamp fees.

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

    I have taken STATE BANK OF INDIA Car Loan two and a half years ago. I visited the STATE BANK OF INDIA Bank only once to apply for car loan rest was hassle free process. SBI bank representative gave me good advise to go for long term car loan so that my EMI will be less, so that i could get higher home loan amount.

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

    My car loan had got disbursed from HDFC however I haven't got the car yet. Its almost a month where I didn't get any response at a proper basis. Even EMI was deducted inspite of having my car which is disappointing.

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

    I have taken a car loan with HDFC Bank. They are pretty fast in processing the request. Interest rate offered by them was pretty descent.They were able to process the request within a span of 10 days. They have offered 90% of the LTV and I am left with couple of instalments. I had no other concerns.

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

    From AXIS bank, I did get the good response from customer service executive. Even car loan had got disbursed on time and everything was at door step.It was a reasonable interest rate charged. Overall it was good.

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

    The executive was not much knowledgeable in informing the customers about the required details. Moreover inability in finding solution. I am satisfied with rate of interest as they offered 11.5% for car loan but no clue about processing charge. HDFC bank should provide check list to the executive as well to the manager. The executive did not mention margin fund clearly where he didnâ??t have a clear idea about it. I suggest HDFC bank to formalize the process.

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

    It was actually wonderful experience with HDFC in availing car loan. It was a timely services and didn't face any issues in terms of customer service team and disbursal. Everything was fine.

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

    State Bank of Hyderabad is good. Other banks are giving interest rate of 6% to 7% for car loan but SBH provided for 11% which I felt bit dissatisfied. Processing charge they deducted around 4%. Highlight is that, at any time we can close the loan without any extra charges. Actually I donâ??t remember what happened with SBH as I took it two years ago so no suggestion as such.

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

    I am existing customer of AXIS, hence I did get the car loan which was quite helpful. Process was quite simple and faster. Rate of interest is quite ok compared with other banks. Customer service executive do take up initiative and explain everything in detail.

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

    Time taken to process the car loan was reasonable and customer support people were good as they mentioned explicitly about loan. I was not informed about post EMI and advance EMI, I came to know such details only at the end. HDFC bank has deducted only 1500 for processing charge but they deducted around Rs. 6000 for insurance which was never told to me at the initial process.

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

    I did get the car loan from AXIS bank however didn't receive any documents related to EMI date, tenure etc. Other than that, processing was really good and the executives was too coordinative. They did take care of customer concern and responded well. Interest rate is fixed and its good.

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

    Through TATA Capital Limited I have taken a loan with the help of that I have purchased a car. Customer service offered by them was not up to the mark. Pre closure was a big problem when I tired to close the account. There was no proper communication. I went to their office in person to close this account and finally it was sorted out on my favour,

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    sivaprakasam took a Car Loan from TATA CAPITAL LIMITED Reviewed on
  • Validated User
    (0)

    Approach was good and they provided door step service. The executive interacted well and explained all details in precise. Affordable interest rate for car loan as they provided 10.5% for car loan. Everything was good but nice if they give acknowledgement for the documents they collect from customers. HDFC bank processed the loan as earlier so it is appreciable.

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

    Processing charge is only 1000 and interest rate is 10.45% for car loan. Particular reason to go with State Bank of Hyderabad is that pre closure where there is no pre closure charge and can close it at any time. Promises were fulfilled and executive came my door step to collect documents. Very customer friendly bank so really satisfied.

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

    Service is wonderful and HDFC bank is number one in private sector. Processing time is minimum in HDFC bank. Guessing pre closure charge as 6 to 8% after 3 years and interest rate is between 11.5% to 12%. I unable to proceed with HDFC bank for car loan for reason of pre closure charge but other than charge HDFC bank is best.

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

    Representative has explained all details transparently in precise and good in response. I was searching loan for high value whereas HDFC bank was only ready to offer 5lakhs so I never took car loan with them. Cannot recollect the interest rate right away but I may say it as nominal rate.

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