Chennai Car Loan

Chennai Car Loan
 4.0 / 5.0   by 329 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 Nov 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 17 1 2 3 4 5
  • Validated User
    (0)

    Services received from HDFC bank in availing car loan is very good and valuable. 10.25% was the interest rate charged and around 12000 was the processing fees. The disbursed loan amount was up to my expectations and especially as I have 10 years of relationship with HDFC, its good.

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

    I just submited my car loan application just to get information. Immediately I got calls from hdfc bank with all information. My loan got rejected due to tenure period in current company . Since it was less than 6 months they denied to approve the loan.Overall response was good

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

    When I applied for car loan application hdfc bank called me and updated all the information. They offered me the interest rate around 18% . I feel it was high compared with other banks. Due to some cibil issues my loan application got rejected . Overall they are pretty fast .

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

    Response and customer service was fine from HDFC bank , This week probably I will get my car loan. Rate of interest was offered by them was 10.5% whereas other nationalized banks was having very less .It would be nice if they remove the preclosure charges and initiate part payment option

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    syed took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • Quite helpful
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    , chennai
    Recommend Recommended by user
    Validated User
    (0)

    I had taken a car loan with SBI Bank. I am dissatisfied as they asked me to come to a place and I waited there for about 2 or 3 hours to start with the formalities and that was a bitter experience. However entire loan process was completed with in 3 or 4 days time. Added benefit was insurance was being attached to this loan and it was quite helpful to me.

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

    I do checked rate of interest with other banks so comparing to other banks 12% of rate is good in HDFC bank particularly for Car loan. My car loan tenor is 3 years and I taken car loan for the amount of 3lakhs. EMI date is falling 5th of every month and I am quiet comfortable with the same. The unique feature in HDFC bank is that, they are speed in processing and they took 7 days to disburse my loan amount. HDFC bank is customer friendly to say in concise.

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

    I had a great experience of availing a car loan from HDFC bank an year ago. It was smoothly done through the car vendor. The process was very quick and in a good manner. I think the car dealer had a tie up with HDFC bank which made the process much easier. The processing was too fast and the loan amount was credited to merchants account within 5 working days. I guess they offered me an interest rate of 12%. There was no processing fee charged by the bank however they charged me some for pre-closing the loan.

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    lushanthan took a Car Loan from HDFC BANK Reviewed on
  • Good service
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    , chennai
    Recommend Recommended by user
    Validated User
    (1)

    I got my car loan from state bank of india . Because of the schemes like zero prepayment and partial payment flexibility I opted this bank for my car loan. Rate of interest was very good . They offered me 10.15% as interest rate to fit in my budget. It would be nice if they have customer care toll free.

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    kamalakkannan took a Car Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Good service
    https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
    , chennai
    Recommend Recommended by user
    Validated User
    (0)

    I do see the part payment facility was not available in hdfc bank when I applied for car loan . Even they are having the charges for prepayment. Response was quite good however it wont fit into my flexibilities. It would be nice if they initiate these flexibilities.

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    kamalakkannan took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • 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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    selvakumar 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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    sathish 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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    karthik 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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    meenakshipriya 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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    sudhakar 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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    ibrahim 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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    shankar 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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    binod took a Car Loan from ICICI BANK on BankBazaar.com Reviewed on
  • Validated User
    (0)

    When I applied for car loan immediately I got a call from hdfc bank with all relevant information. The executives properly assisted me for my loan enquiry. Currently I postponed the plan of availing the loan from them . Rate of interest was quite affordable when compared to other banks.

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

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