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    We found 3 Chennai Car Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12% - 15.5% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    13.1% - 15% Floating
    999 + applicable tax
    20K - 10L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.40% - 13.25% Fixed
    Up to ₹ 5,000 One time fee
    1L Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.5,000 Amazon Voucher
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
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  • Chennai Car Loan is Rated as "Excellent!" by 3156 Users
    Car Loan BYTES FROM OUR KITCHEN

    Chennai Car Loan

    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

    01
    02
    03
    04
    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

    01
    02
    03
    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

    01
    02
    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 19 Feb 2018

    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

    Chennai Car Loan

    With its scorching southern humidity, deafening traffic and scarcity of outstanding sights, the atmospheric capital of India has always been considered on the dreary side when compared to other metros of the country. Hugging the coast of Bay of Bengal, Chennai is home to a strapping populace of 6.9 million people. Real estate progression and traffic bedlam threaten to consume Chennai’s fascinating amalgam of Asian pace and spiritual grace. But the chaotic yet strangely synchronized growth of cosmopolitan charm never fails to refine the general standard of living. The city’s soaring economy owes aplenty to its well-established automobile business and hence the sobriquet ‘Indian Detroit’. Statistics show that Chennai had over 12 million 2 and 4-wheeled automobile registrations in 2008.

    Owning a vehicle nowadays is a necessary luxury. And almost everyone depends on car loans to make the dream real. It is predicted that this 2015 is going to be big for car deals in Chennai since the price of funding one have become much cheaper and less hectic. Cheaper doesn’t translate to reduced costs. Car loans have become unavoidable assistants in making that dream car your own. The financiers keep terms and conditions of auto loans competitive for enticing as many aspirant car owners as possible including the utmost parsimonious. Chennai car loan market is quite tough and they come up with attractive offers every now and then. Whether you are looking to finance a new or used car, loans that suit wallets of all shape and size.

    From a chronological perspective, car loan rates have nearly reached rock-bottom. Ironically, buying a new car seems a cheaper option than getting a used car. Banks used to classify customers applying for car loans as ‘risky customers’. This is because even though car loan was a tenable debt, if the customer ceased to repay the money, they could seize the collateral but might find it difficult to resell it while a dealer can easily resell it. Big banks had personal loans and credit card users that earned them bucks. Hence the race between moneylenders was quite aggressive until recently. This trend is undergoing a paradigm shift and now banks too are after that piece of dessert.

    If you are a potential car purchaser, their loss is your profit since it is one of the few sectors of the loaning industry where the demand will only increase. When you apply for car financing in Chennai, you will have to produce a number of related documents. Duplicate copies of photo-bearing national identity cards, current and permanent residential address proofs, employment references, monthly income proofs (salary slips) and your previous debt obligations if any will be required. The dealers/ banks can also access information regarding legal steps that may have been taken against you (if any) using your given account details.

    The chosen dealer or bank might provide you with manufacturer discounts, such as lesser interest rates or even cash back on any particular make. These ads and offers might slip your notice as they are often seasonal. Ensure that you ask them specifically if the model you are seeking has such offers. An informed decision almost always means less regret.

    Check For Latest: Gold Rate in Chennai Or Silver Rate in Chennai

    Chennai Car Loan Reviews

    • review Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken a car loan with Shriram Finance and my loan experience was very good. The loan amount was for Rs 6.15 lakhs with the rate of interest of 14% which is high when compared to other sources. My car loan was approved based on ex-showroom price and they gave 70% of the loan amount. Customer service was good and they responded on time. My payment gets auto deducted every month and the tenure period is 3 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 15, 2018
    • Bank Bazaar Car Loan
      " Good website"
      0.5 5.0/5 "Blown Away!"
      I have applied for a car loan through bankbazaar. The website is good and friendly. At the time of application i had to follow up with the team regarding my status of the car loan. Other than that the over all experience is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 14, 2018
    • ICICI Bank Car Loan
      "Good bank"
      0.5 4.0/5 "Great!"
      Since i have taken the car loan from Tata i could not able to go on with ICICI Bank. The approach with the bank was good. Other than that i dont have any other issues with the bank. In future if i take a car loan then i can consider them
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 14, 2018
    • Bank Bazaar Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The response part is excellent from the bank bazaar team. The customer support service is good with the bank bazaar ,. The follow up was made on time from the bank bazaar. I use the bank bazaar mobile application which is easy to use and user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 07, 2018
    • TVS Credit Services Car Loan
      "Good service "
      0.5 4.0/5 "Great!"
      I choose the personal loan options instead going with the car loan from the TVS credit services, so that was the reason I haven't got the car loan from the TVS credit service. Thew customer support and the response was good with the TVS credit services.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 07, 2018
    • HDFC Bank Car Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      HDFC car insurance experience is good, I purchased Swift dezire car worth Rs. 7 lakhs, I availed loan through the dealer. They approved my loan within 2 to 3 days, then my car got delivered. HDFC gave me the the tenure period of five years with better interest rate and flexible loan repay options like part payment, balance transaction and foreclosure.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 06, 2018
    • Kotak Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the car loan with the Kotak mahindra bank and the interest rate is around 9% and the customer service is better one and the response is also better one. The loan amount got disbursed within ten days of time.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 06, 2018
    • IDBI Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the car loan with the IDBI bank and the processing charges were not aware from my end. The loan got disbursed within three days of time. Everything is better one with the IDBI bank and the processing charges are also nominal one for me with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 06, 2018
    • HDFC Bank Car Loan
      "A perfect loan for car"
      0.5 5.0/5 "Blown Away!"
      I had applied and got the Car Loan from Top Private Sector Bank, HDFC Bank. I completely satisfied by their Rate of interest, 8.35% only. I love their services and process. They sanctioned the promised principle amount. I am using the Mobile banking services to pay the emi. It is very easy to monitor the Car loan EMI and account activities in single application.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 31, 2018
    • Cholamandalam Finance Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have completed my car loan with Chola Mandalam Finance. It was taken in the year of 2013 and closed at 2016. The rate of interest was normal. The customer service was good and the response is prompt. I have purchased TAVERA car and they offered 4.5L.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 30, 2018
    • Kotak Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      Car loan with KOTAK MAHINDRA BANK and the loan experience was good. The loan amount was for Rs 7,00,000 with the rate of interest of 10.25% which is nominal when compared to other banks. The process was good and I received my loan amount within the given time. Customer service was good and they responded on time. The tenure of this loan is 60months and it was overall a good service from KOTAK MAHINDRA BANK.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 27, 2018
    • Axis Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      It was a great experience with Axis Bank on car loan. I am satisfied with the rate of interest. I took around 9.5L with the interest rate of 8.5%. There was no issues. I have purchased PUV 300. The part payment and preclosure option is good. The documents are collected by the executive.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 25, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have taken a car loan with HDFC bank.The loan amount I have received is 4.63 lakhs,rate of interest is 10.55% nominal as compared to others,tenure is for five years.No processing fees.The EMI amount is 9500 on a monthly basis.They were quick in processing the request.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 24, 2018
    • HDFC Bank Car Loan
      "Great service"
      0.5 4.5/5 "Excellent!"
      I have taken a car loan with HDFC bank.The loan amount is 2.95 lakhs.The rate of interest is very high as compared to others.The documents were collected from my place as it was convenient.The tenure is for five years.The net banking facility is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 24, 2018
    • IDBI Car Loan
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      Purchased new car by car loan taking loan with IDBI bank. Rate of interest is good with 9.9%, I got loan amount rs 8,50,000 with tenure of 60 months. Also I have done part payment to the car loan which I taken with IDBI bank. My car loan is yet to be closed and have a outstanding amount of rs 30,000 only.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 23, 2018
    • Bank of Baroda Car Loan
      "Best banking"
      0.5 5.0/5 "Blown Away!"
      I have taken a Car loan with Bank of Baroda,The,loan amount is 5.50 lakhs,rate of interest is very low as compared to others.I had submitted the standard documents and they had processed the loan within 2-3 days without processing fees.The loan is active another seven months left.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 23, 2018
    • review Car Loan
      "Very Poor"
      0.5 1.0/5 "Really Bad"
      Struggled a lot with TATA MOTORS FINANCE. Have taken car loan with them, it was very poor experience I have ever faced. They often change the ECS payment date, they will call and say that your payment is going to on a date but they will pass on some other date. If the emi is not cleared there way of approaching is completely different from all finance in the market. Some times I feel very bad of myself taking a loan with TATA MOTORS FINANCE
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 23, 2018
    • SBI Car Loan
      "Best service"
      0.5 4.0/5 "Great!"
      I have taken a Car loan with State bank of India.The loan amount is seven lakhs,rate of interest is nominal as compared to others.They had deducted minimum amount of processing fees.I pay my EMI through an ECS payment.The loan process is simple with SBI.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 20, 2018
    • Bank Bazaar Car Loan
      "One stop solution"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar is a good platform for all the financial products . The customer service and responses was up to the mark. The process was quite easy and the executives were helfull . The web portal's accuracy and speed is good. My overall experience was satisfactory .
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
    • HDFC Bank Car Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      I have my car loan with HDFC bank.The loan amount was 5.8 lakhs . The interest rate was 8.5% which was satisfactory . The customer service and responses was up to the mark. The tenure period was 5 years . They have sanctioned the loan with the committed time and the loan was approved on time. The processing fee was very low and the pre closer is allowed after one year.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
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