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
 4.5 / 5.0   by 283 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 27 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 21 1 2 3 4 5
  • Validated User
    (0)

    I took car loan from HDFC bank. I am satisfied with the customer service,they did responded me very fast in answering to my queries and in collecting the documents. The Interest rate is high compared to SBI bank but still it is a policy of the bank in charging the interest rate. So I am totally satisfied with HDFC bank.

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

    HDFC Bank car loan process is really good. The only thing is, they have to minimise the charges. Interest rate charged by them is 10.25% and processing fee charged was around 3% good if they reduce both. They took around 3 days of time to provide this loan. Its been 3 months now since I have taken this loan.

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

    Smooth experience with TVS Credit. Sales executives were very cooperative and friendly. In respect to interest rate the TVS Credit could have been reduced as it is 17-19%. Other than that processing charges are fine and they are doing good job on car loan.

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

    Interest rate offered by HDFC Bank for the car loan is 10.5%. They have provided about 90% of the loan amount and 10% was contributed by me. They have quickly processed my loan and they have offered me around 3,01,000. The Maruthi dealer has given some sort of offers and accessories worth rs 5000.

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

    I have taken a car loan with HDFC Bank. I have got a positive feedback for them as there in no issues with them. They were very much flexible and the documents was very simple and I got quick response from them on time. When it comes to interest rate is high when compared with SBI and processing fee has been waived off for me.

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

    I have taken a car loan with HDFC Bank. The agent who came to my place was not professional. He did not ask me for my preferred payment date he simply processed my request blindly . I got to know about my EMI date through email only after the loan disbursement. I called him immediately he said he will check and call back however he did not call me back.

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

    Customer service was really appreciable and document collection was smooth. TVS Credit services was prompt in releasing funds as per the commitment and everything was done as they promised to me. There was some additional charge of around 1200 for car loan but the officers informed that in prior.

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

    Car loan process was easy and availed the loan without hassles. Axis bank handled everything smoothly and they sanctioned in 7 days of time. I was informed about required documents in prior and I kept ready so the process completed as earlier. Sanctioned amount is 8.5lakhs and for it got reasonable interest rate.

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

    Service offered by HDFC Bank for the car loan is not really good.I prefer SCB bank as they took about 2 or 3 days of time to provide the loan. Even the interest rate offered by HDFC Bank was high and HDFC asked for more documents comparatively. Interest rate offered by HDFC as 16% and processing fee charged by them was 0.5% which is ok.

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

    HDFC Bank car loan process is ok. The reason why I have not taken a loan from them is because I had got a better offer from another Bank. Interest rate offered by them was 10.5% however HDFC offered me around 10.75% to 11.00%. It is a hassle free loan.

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

    HDFC Bank car loan response was really slow. They have promised that I would get a callback within 3 or 4 days of time however no one contacted me about the same. Every time when they called up I was promised a callback from them. Finally, I dropped the idea of taking the car loan and I have taken a personal loan from them instead.

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

    The first and foremost reason why I have not taken a car loan with HDFC Bank is because, they were able to provide only 80% of the loan. However Kotak Bank was able to provide about 90% of the loan amount. I am very much happy with the interest rate and processing fee offered by HDFC Bank . Finally I have approached the dealer directly and I have taken a loan through them from Kotak.

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

    I have taken a Car loan from Kotak Mahindra Bank and I have taken it through a dealer. The documentation process was smooth as they had requested only for the basis documents . It took 3 days for the loan to get disbursed and also the processing fee charged by the bank is high. Overall it depends on th dealer for the processing to be smooth.

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    charan took a Car Loan from KOTAK MAHINDRA BANK Reviewed on
  • Validated User
    (0)

    I was unable to get this car loan with HDFC due to some financial problem but I will surely avail this Loan in future with the same Bank. I am very happy with the customer service provided by HDFC the response towards the customer was very good. They helped a lot in the process of documentation and verification as well. I feel the fees and charges offered by HDFC is less compared to other Banks and I will surely recommend this to my friends for their loan purpose.

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    amalan took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
  • (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
    (2)

    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
Customer Reviews
Page 1 of 21 1 2 3 4 5
4.5 283
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