If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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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.2,500 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    13.1% - 15% Floating
    Up to 2%
    20K - 10L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval available
    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.2,500 Amazon voucher free
    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 2936 Users

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    Promised Interest Rate

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    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

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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

    01
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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 18 Oct 2017

    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

    • Bank Bazaar Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was very good service with bank bazaar team. The bank bazaar executive is very helpful because they were concerned about their customers. I know bank bazaar for more than 3years. The customer support was prompt from bank bazaar team. The website of bank bazaar is easy to use and user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Dena Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The Dena bank service was good in regards to my car loan application . I have postponed the car loan plan at present so that was the reason I haven;t got the loan from Dena bank. The rate interest is nominal with Dena bank when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Bank Bazaar Car Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      Bank Bazaar keep giving good response from their end based on loan service. I am very much quite happy with their service. But I would like to suggest Bank Bazaar should take of post process of application and their call volume should be reduced.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Axis Bank Car Loan
      "Looking for better service"
      0.5 1.0/5 "Really Bad"
      AXIS just called me but they didn't come for the loan process, I applied car loan before three months but they never responded well. But I knew it was long time to reach the customer. Obviously Axis bank should contact the customer on time for their loan application.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Bank Bazaar Car Loan
      "The site is good"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar is fine, i got to know about bankbazaar through mail. I am happy with the proposal which was provided by bankbazaar. I was given the information about the rate of interest, eligibility etc . Though there are many banks in the market, HDFC BANK was my choice and the same was offered by bankbazaar.com.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • HDFC Bank Car Loan
      "Happy with the service"
      0.5 5.0/5 "Blown Away!"
      Property is under construction, therefore I had asked the bank to close my application, later i might opt for their service. I am very much happy with the service and response provided by HDFC Bank for the car loan . Any time after December I might apply for the loan. They gave all the information, even I was informed about prepayment too and the clause is, after one year I can make pre payments.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Bank Bazaar Car Loan
      "Good service "
      0.5 5.0/5 "Blown Away!"
      Bank bazaar is the best financial portal compared to others. If I need any financial products wil get it done with bank bazaar.I have been using the website for quite few years I liked the service so much and get multiple follow ups,alerts and mails.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Dena Bank Car Loan
      "Best banking "
      0.5 5.0/5 "Blown Away!"
      I had taken a car loan form DENA bank for an mount of 3.39 lakhs at the nominal rate of interest.They had responded to my quires on time,no delay in processing the loan.good service from the bank for sure i would recommend the bank to my near ones in future..
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Bank Bazaar Car Loan
      "Its quite simple and intelligent"
      0.5 5.0/5 "Blown Away!"
      Within 10 minutes, I got some response from bankbazaar, there was no need to followup with them all the transactions are good. Everything is verified and it is free for user and there are issues in following up with the bankers why because it is bankbazaar who is dealing with the banker directly. In short, everything is taken care by bankbazaar.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Bank Bazaar Car Loan
      "One stop solution"
      0.5 4.0/5 "Great!"
      Bank bazaar is a one stop solution for all the financial products. The customer service and responses was on time and satisfactory. The website's accuracy and speed is good.I have not faced any in convince and issues faced so far. I would like to recommend to others also because my experience was good here.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Sundaram Finance Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have applied for mu car loan with SUNDARAM FINANCE. The rate of interest was 8.4% which was high comparing to other banks so I have cancelled my application. The custoemrs service and responses was up to the mark. I would like to recommend because the my overall experience was good .
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Bank Bazaar Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have approached Bank bazaar for many financial consultation before. The customer service and responses were excellent. It would be nice If they change the status of the application because even after the disbursement , I am getting calls from the banks.The website of Bank bazaar was really good and easy to navigate.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have a taken my car loan with HDFC bank 3 months back. The loan amount was 4.93 lakhs and the rate of interest was 8.5% which is average in the market and the EMI period was 7 years . They have provided door step service for the documentation collection. My overall experience was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Bank Bazaar Car Loan
      "Good website"
      0.5 5.0/5 "Blown Away!"
      I visited bankbazaar.com for the first time, i came to know about this website through google. Bankbazaar provides excellent services when compared to all other banking website. The customer service is excellent, they were very helpful and guided me to choose the right product. The website is easy to access and it is user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • TVS Credit Services Car Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have applied for used car loan from TVS CREDIT SERVICES, i am happy that my loan amount has been approved and issued. The customer service was good and they were very helpful, they guided me through the process. The rate of interest which they promised for is 13% but my interest rate is 15%, the processing fees charges are nominal when compared to other sources.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • HDFC Bank Car Loan
      "Very simple"
      0.5 5.0/5 "Blown Away!"
      The process was fabulous, there are no issues with the process and everything was very smooth there was no documentation issue the staffs there were very good and fine. Actually, I got an overseas job there is no need for me to take the car loan from HDFC bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Bank Bazaar Car Loan
      "SATISFACTORY"
      0.5 3.5/5 "Pretty good"
      As a mediator I should say that Bankbazaar has done a good job. They contacted me after I registered my details and they also provided the information I needed. They were quick in processing the application to the bank. But after which there were no follow up calls done.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • TVS Credit Services Car Loan
      "AVERAGE"
      0.5 4.0/5 "Great!"
      Even the rate of interest was affordable by TVS credit services, though it was high. But the processing charges were very high. They not only charged for the insurance and documents charges from the loan. But I also had to pay 2K as cash for the RTO charges and for the name change. The rate was of 11% on the car loan. The customer services and response was not professional as I had to call them regularly and they would not.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Bank Bazaar Car Loan
      "Recommending friends already"
      0.5 4.5/5 "Excellent!"
      I was so impressed by your idea and felt that process of loan which used to involve lot of spam call has completely gone. I recommended couple of my friends to your application and would do the same in future also. I found the application to be useful and simple.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • HDFC Bank Car Loan
      "Happy Customer"
      0.5 4.5/5 "Excellent!"
      I have been a happy customer of HDFC bank for the past 8 years. I took this loan out of this context and found the experience to be good again. I got a loan for a Rate of Interest of 8.51 % which again is very commendable. Also the process was short and precise to my liking.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
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