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 361 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 Jul 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 27 1 2 3 4 5
    • Validated User
      (0)

      It was a good experience with HDFC Bank for my car loan. I faced no problem with them. The process was smooth. They even offered me a reasonable rate of interest. Their processing fee was a bit high. But overall I was happy with their services.

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

      Had a good response with the customer service of Axis Bank at the time I applied for my car loan. I am fine with the interest rate and processing fee is nill, I was not charged. Only 5 documents were collected so within 5 days my car loan got disbursed. I had no problem with this bank.

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

      The respond from ICICI bank was good when i approached them for the loan process but due to some personal reason i dropped my plan.Interest rate informed was 10.5% which was normal and the processing fee charge was also normal.In future if i plan to take a car loan i will go only with ICICI bank.

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

      It was a good experience with the HDFC bank for the car loan. I had postponed the plan of taking the loan due to financial reasons and so that is the reason I had dropped the plan of taking the loan. Apart from this, I did not face any issues as I get immediate response from this bank for all kinds of queries.

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

      I bought a car with the ready cash so dropped the plan for of taking a car loan from Axis bank. The interest rate offered was high comparing with other banks. They responded immediately with all the informations.Overall the axis bank is good.

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

      I did not take my car loan from Axis Bank because they never reached my minimum requirement. They were not providing the loan amount I was looking for. The services was good. They been responsive too. But they offered a very high rate of interest. The processing fees was reasonable.

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

      The first best thing about SBI car loan is, there is no processing fee. They have provided the maximum tenure which is 7 years. There is no pre payment or foreclosure charges and that was the major attraction towards SBI. Interest rate offered by them is the least in the market . They took hardly 2 days of time to provide the loan and it is the assured loan.

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      narendran took a Car Loan from STATE BANK OF INDIA Reviewed on
    • Validated User
      (1)

      The first and foremost reason for not availing the car loan with HDFC bank is, because the interest rate offered by them was high, when compared with others. I have taken a car loan with SBI. There is no idea about the processing fee. Customer service offered by them was good. Only once I got a call from them and it was good.

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

      The Car Loan process with Kotak Mahindra was done within a weeks time.The documents required for getting this loan was minimal and mandatory documents.The interest rate applied was same like other Banks and I will surely recommend others to get a loan with Kotak Mahindra.

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

      The loan amount and the interest rate offered by the hdfc bank was mismatch with the showroom dealer.So, i did not avail the car loan from the bank.My suggestion to the bank is that the communication gap between the dealers and banks should be fulfilled . Before going ahead with any offers in online it would be good if the bank come across the rates as per the market so that they can be more transparent. Other than that the response and service of the bank was excellent.

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

      I have taken a car loan with state bank of Hyderabad.Overall services Is very good.I applied for 3.8 lacks which Is offered to me.Interest Is charged @ 12%within 1 day loan was processed.Processing fees Is 650/-.There Is no preclosure charges I can close whenever want.

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

      I did not take my car loan with Axis bank because I was planning for maruthi ego.They told they wil provide loan on on road price.so I didn't proceed further.I applied for 3.8 lacks loan amount.Interest Is charged @ 12%. processing fees Is 650 .Agent was good In giving all Informations.Overall services I s very good.

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      mukkul took a Car Loan from AXIS BANK Reviewed on
    Customer Reviews
    Page 1 of 27 1 2 3 4 5
    4.5 361 0.0 5.0
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