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 309 users
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Fees & Charges

Promised Interest Rate

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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 29 May 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 23 1 2 3 4 5
  • Validated User
    (0)

    Disbursement of my car loan was completed within one week from TVS credit.Only simple documents were collected. The interest rate offered was 14.5% and am not satisfied with the processing fee charges.The representative of the bank named Mr. Sasi Kumar helped a lot for the process.

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

    Within 1 week the car loan was disbursed from the HDFC bank.Documentation was normal to provide for the loan and the process was very fast.The charges were nominal as per the market rates. Overall the service was good from the HDFC bank.

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

    The car loan with HDFC bank is almost going to end and they handled well the process. My father was dealing with the bank for car loan and just I submitted my papers. HDFC bank would have provided the interest rate of 14%. Process went smooth and I just submitted pay slips with three PDC.

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

    The process of my car loan was good with the HDFC bank. The only thing is that i did not received any original documents of the loan process yet. The charges of the loan are nominal. Overall the experience with HDFC bank was good.

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

    HDFC Bank has done the fabulous job on the process of my car loan and was completed on time. They took only maximum of 3-4 days for the disbursement of the loan.The charges were nominal only. The service provided by the HDFC bank was on my door step. My wish is that they should keep doing the same service.

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

    The Representative from the HDFC bank came directly collected all the documents for the process of the car loan. They just called me 3-4 times only for the process and every thing went on smooth. They reduced the interest rate for my loan process than they offered normally. Notification is not at all proper from HDFC bank so they can improve on this.

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

    My feedback for Canara bank car loan is really good. Their communication is excellent. There was no delay within 15 days of time the loan was processed. They took around a week time to collect the documents to conduct verification etc. The only drawback here is I have requested them to fix my ECS date before 12th and they have fixed that accordingly . However they are charging about rs 60 extra I am not sure why. They were offering around 10.5% as interest.

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    mathialagan took a Car Loan from CANARA BANK Reviewed on
  • Validated User
    (0)

    The service of the executive from axis bank was very good during the process on my car loan. He collected the documents and completed all the work but made me spend more time on the process. The loan got disbursed within 1 week. The charges are comparatively nominal. I am very satisfied with the axis bank.

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

    My car loan from axis bank got approved within 2 days.The response and the process was very fast with axis bank. The interest rate and the processing fee are nominal comparatively with other banks. The executive from the axis bank came and collected all the documents for the loan process. Overall i have a good experience with axis bank.

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

    Axis bank is good and quick in processing my car loan.Documentation part was quite usual like other banks. They offer the best charges. The axis bank service is excellent and they do the needful for the customer than our expectation.......

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

    Customer support of the axis bank is good as they approved the car loan process within day. There was no problem with the bank. The only thing is that there was some variation in the loan amount as i was excepting 90% of the on road price but only 80% was finalized. Axis bank should look after the notification part because i was received the notification of non payment where as i paid my EMI on time.

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

    My car loan got approved from Axis bank within 1 week. The service provided by the bank was fantastic and satisfied . Documentation part was very easy for the process of the loan. Axis bank is very good bank and also trustworthy.

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

    I got the car loan with HDFC bank for the rate of interest as 11%.By the way I got my Hyundai i10.The tenure is for 3 years.They provided 90% as loan and 10% which I paid as down payment and 1% as processing charges.Its the good bank.

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

    Response given by yes bank for my car loan process was very fast. They approved the loan with simple documents collection. Customer service is always good in reminding us about our emi date. The bank offered me the ex showroom price for the car which i purchased. They are very quick in their process.

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

    I think that my car loan application from HDFC bank must have been closed due do the Cibil score . But, they should have informed me the reason for the closure of my application. After 1 week they called me to get the details with regards to my loan enquiry but no update after that. No much to share about the loan process.

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

    I took car loan State bank of Hyderabad. It is a traditional bank. Customer service was very clear in what they were communicating to their customers. Interest rate and processing fee is low compared to the other banks. Actually the bank manager visited my house for the verification and this was very good experience as I was able to solve if I have any queries. I was able to get to interact with the bank manager directly. Within a week my loan got disbursed.

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

    I got the car loan with kotak mahindra bank for the rate of interest as 13% and with the tenure of 36 months.The emi is around 9128Rs per month.Within a day the loan got disbursed and that made me happy.They asked 3% as processing charges but thats fine.

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

    It was a fantastic experience with ICICI Bank for the Car loan. Their processing was very fast and within 3 days my loan got disburse. The best part is their emi calculation as 30% of the principal amount got reduced after paying my first year emi. In addition they also waived of the processing fees. It would be better if the number of sales calls gets reduced.

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

    I am running a Car loan from HDFC Bank and it is going pretty smooth. During the time of taking the loan the executive had come to my place and he got couple of signatures from me and he had informed me that he will be sending the documents where it will have the loan details and also a log in ids with which I can check all the details about loan. But till date have not received one and after the disbursement till date there is not even a single call from them.

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    rajeev 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
Customer Reviews
Page 1 of 23 1 2 3 4 5
4.5 309
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