Chennai Car Loan

Chennai Car Loan
 4.0 / 5.0   by 280 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 24 Sep 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 14 1 2 3 4 5
  • Validated User
    (0)

    I have approached HDFC bank for a carloan, I am unhappy with the services provided by them, as they were not very clear in explanation, they were not ready to provide complete information. I am eligible for a pre approved loan of 15 lakhs, however they were telling me they can offer only 3.5 lakhs which is not acceptable. They were asking me to submit the documents upfront, without providing any details and I am disappointed with their service.

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

    I dont have much experience to comment about HDFC Bank car loan, all I know is the guys called me , they kept me posted about the documentation process. The only drawback, with HDFC is they have offered me a interest rate of 10.50%, where as UCO offered me 10.40% which is slightly less. However, I must say that HDFC bank is much faster in processing the request when compared with public sector banks . To conclude, I donâ??t have any issues with HDFC expect for the interest rate.

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

    Axis Bank car loan it was a good experience. The customer service executive came to office to collect the documents and i would say it was a hassle free process. The customer service executive My Suresh who took the initiative in updating the loan status. There was a slight delay from my side however the whole process got completed within a month.

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

    I would say it was a hassle free process when i applied for the car loan from HDFC Bank. The processing and the documentation was very simple. The customer service executive were quick enough in responding to my queries. I got the whole process completed in seven days.

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

    I applied a car loan application with axis bank . The way they approached was really good. Due to my financial constraint I requested them to postpone the plan . They used to send mails for me with all details about car loan. Now I am thinking to go for two wheeler loan

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

    It was a good experience with axis bank for my car loan application. Within a day I got a call from axis bank . Frequent call backs from them . Awesome customer service. Pretty high interest rates . Due to higher interest I postponed the plan. Compare to other bank axis bank providing higher interest rate

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

    I applied a car loan application with oriental bank of commerce with very quick process. There is no necessity of submitting the documents since I am banking with them for my salary account last 7 years. Quite high interest rates from other banks. They reduced 0.5% interest rate. There is no processing fees for my car loan

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    took a Car Loan from ORIENTAL BANK OF COMMERCE on BankBazaar.com Reviewed on
  • Validated User
    (0)

    My experience of availing a car loan with axis bank was quite good. Within 2 days the called after I submitted the application. Personally I requested to close the loan proposal since I decided to go with my salary account for my car loan

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

    Am thankful to Bankbazzar. because of applying via them i got my Car loan with best interest. also my Loan Disbursed within a weeks time with less documentation, Also People are at Door step to resolve my Queries. Bankbazzar Gives the perfect Solution for our Search. also provide the Elaborate Details about the product and process.

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    took a Car Loan from HDFC BANK Reviewed on
  • Validated User
    (1)

    Customer service was good. Excellent follow ups. So far no hassles from State bank of India. I choosed this bank for their lower interest rate .Documentation process was too good. They are having only short process. They offered me 10.74% as interest rate which was quite nominal

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

    It was a good experience for my car loan application from AXIS bank. They have responded my queries very well . And even provided very nominal interest rates. I got better offer from other bank so I moved on

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

    I recently had a good experience of availing a car loan from ICICI bank. ICICI bank has contacted me timely and disbursed my loan within 10 days of time at a rate of interest of 10.5%. Actually they did not give me any account book for maintaining the loan and I got the confirmation through SMS only. I already have the agreement papers with me and I am quite happy about banking with ICICI bank.

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

    There was miscommunication in terms of processing charges of car loan with HDFC. I was negotiating for such a long time where at the end, they charged 1500 as processing fees. Whatever expected, i got it after long time. Interest rate is 10.50% which I think it is lower rate. I would suggest if the person who comes for collecting documents should have a letter of authorization or ID card to be careful.

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

    HDFC bank executive came to my home and collected all the documents. Even the verification part was done and within 5-7 days, my car loan got approved. I asked to negotiate the interest rate however as per the selection of car, I was offered 10.30% with 2000 as processing fees.

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

    It is a great and nice experience with HDFC bank in terms of car loan processing. It was a smooth process followed. There was a nice response from customer service and faster services from HDFC bank. I got around 10.50% which is a nominal interest rate offered for car loan.

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

    I had recently applied for a car loan with ICICI bank. Unfortunately I did not avail the loan because I have post ponded my plan for sometimes. Everything was excellent with ICICI bank and I don't have any complaint or difficulty with them. I am overall satisfied with all the services of ICICI bank and the response was prompt.

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

    My experience of applying for a personal loan with ICICI bank was good. The person whom I spoke with was very good and she explained me everything in detail however I couldn't make it because of too many documents requested from me. Otherwise the service and the response was quite good.

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

    In the year 2005 I have availed a car loan from SBI. I had directly visited the branch of SBI and made my request for a car loan. The next moment they collected the required documents from me and they ensured my loan disbursement within 5 to 7 days. Only the follow up was not that good because they suddenly increased the rate of interest without prior notification. Rate of interest was around 10.5% and the processing fee & charges are reasonable.

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

    I had recently applied for a car loan with ICICI bank. I did not avail the loan because I was in a little confusion in choosing the car model. I am not in a hurry as I am already holding the car however I have just post ponded my plan for sometimes. I got immediate response from ICICI bank and they explained me everything in detail about the loan. I would contact ICICI bank again once I finalize the car model.

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

    Services are nice with HDFC bank in terms of car loan. I felt it was the nominal interest offered by this bank. Rate of interest is 7% without no processing fees as I have a prior relationship with them. I would say it would be a convenient process with this bank.

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    took a Car Loan from HDFC BANK on BankBazaar.com Reviewed on
Customer Reviews
Page 1 of 14 1 2 3 4 5

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