Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 32 Chennai Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 16.99% Fixed
    Up to 0.5%
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free Ad
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0 to ₹1,180
    30L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 20.70% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12.99% - 12.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    13.49% - 19.99% Fixed
    Up to 2%
    Upto 25L
    1-5 years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1,499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 19% Fixed
    Up to 3% One time fee
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
    Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.00% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.2,000 Amazon Voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
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  • Chennai Personal Loan is Rated as "Great!" by 12304 Users
    Personal Loan BYTES FROM OUR KITCHEN

    Chennai Personal Loan

    Apply for Personal 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.

    A personal loan is a kind of unsecured loan which can be used for any purpose that the borrower deems necessary. An unsecured loan is an umbrella term used for loans which do not require collateral. Banks, credit unions, and other financial institutions offer personal loans on an ongoing basis.


    You’re probably eligible for an Chennai Personal Loan if you are

    01
    02
    03
    04
    Chennai Personal Loan Minimum Age

    At least 21 years old

    Chennai Personal Loan Maximum Age

    Less than 65 years old

    Chennai Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    Chennai Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your Chennai Personal Loan amount eligibility is based on these factors

    01
    02
    03
    Chennai Personal Loan Minimum Salary

    Minimum income required
    Rs.17,500 per month

    Chennai Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 50K to Rs. 30 lakhs

    Chennai Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Chennai Personal Loan amount by these steps

    01
    02
    Chennai Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “Chennai

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an Chennai Personal 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 Personal Loan Interest Rates Updated on 18 Jan 2018

    Chennai Personal Loan Details
    Interest Rate (Monthly reducing balance) 13.49% - 34%
    Processing Fees 0.5-2.5%
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loan in Chennai

    Personal loans in Chennai are offered by some of the top banks and NBFCs in the country. All banks offer secured and unsecured personal loans. In the case of unsecured loans, banks offers loans ranging between Rs.50,000 to Rs.40 lakh without any collateral. Personal loans are offered to customers based on their annual income, the company their employed, etc. Some of the top banks offering personal loans are ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, etc. To compare loan offers between banks, customers can facilitate the use of financial portals such as BankBazaar.

    Personal Loan offered by various banks in Chennai

    A number of top banks and NBFCs in the country offer personal loans in Chennai. Some of the more popular banks and NBFCs offering personal loans at the best interest rates are listed below:

    • ICICI Bank
    • HDFC Bank
    • Axis Bank
    • Citibank
    • Standard Chartered Bank
    • Oriental Bank
    • Kotak Mahindra Bank
    • Fullerton
    • Bajaj Finserv
    • Tata Capital
    • Aditya Birla

    How do I get a Personal Loan with the lowest interest rate in Chennai?

    When availing a personal loan most people go for the bank holding their salary account as the paperwork becomes a lot more relaxed and the process faster. While for some this might work perfectly, looking out for loans offered by numerous banks and NBFCs offering loans at the best interest rates is the best way forward. Other than that, there are a few other factors that will positively affect your loan interest rate. If you’re availing a loan, listed below are a few areas you need to look into or take care of if you wish to get the lowest interest rate on your loan:

    Credit score - Ensuring that your credit score is optimum is imperative when availing a personal loan. Having a high credit score will result in you getting a loan at a lower interest rate and vice versa. A credit score above 750 is satisfactory when availing a personal loan .

    Make a down payment - Putting down a sizeable down payment is sure to get you a better interest rate on your loan. Anything upward of 20% of your loan amount will surely positively affect the interest rate that is offered to you.

    Debt-to-income ratio - Making sure that you have a stable debt-to-ratio will firstly decide whether your loan will be approved and secondly will affect the interest rate on your loan. Debt-to-ratio is the amount one earns against his/her credit bills, loans, etc.

    Look around for the best loan interest rates on offer - Facilitating the use of financial portals such as BankBazaar will help you when shopping around for loans offering the best interest rates. The BankBazaar website compares the loan interest rates of all its partner banks and makes it easier for customers to make a decision.

    Tenure - Choosing your tenure directly reflects on the interest rate added to the loan amount. Choosing a shorted tenure will result in you having a much less interest rate - though the EMIs will considerably low. The interest rate increases with the length of the payback period.

    Employee stability and the company you work for - The number of years of experience and the company you work for plays a vital role whether firstly your loan will be approved and secondly the interest rate on the loan. Working for an established company only increases the bank's trust of you repaying the loan.

    Always negotiate - While most people readily agree to the interest rate on the loan offered by the bank, negotiating on the interest rate is a necessity. If you’re a customer availing a loan from the bank holding your salary, you have a better chance of making a negotiation.

    Personal Loan Interest Rates in Chennai 2018

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    ICICI Bank 11.59% - 18.49% (Fixed) 2.25% (min. Rs.1149) One time fee Rs.20 lakh (Max) 1-5 Years
    CitiBank 10.99% - 15.99% (Fixed) 1% to 2.5% Rs.30 lakh (Max) 1-5 Years
    Kotak Mahindra Bank 11.49% - 20.15% (Fixed) Up to 2% Rs.15 lakh (Max) 1-5 years
    Fullerton 17.25% - 37% (Fixed) 1.5% to 6.0% (One time fee) Rs.15 Lakh (Max) 1-4 Years
    Bank of Baroda 11.35% - 14.35%Fixed Rs.1,000 to Rs.10,000 (One time fee) Rs.20,000 - Rs.2 lakh 4 Years (Max)
    State Bank of India 12.90% - 14.90% (Fixed) 1% (One time fee) Rs.24,000 - 15 lakh 5 Years
    Aditya Birla 11.5% - 13.25% (Fixed) Nil Rs.30 lakh (Max) 1-5 Years
    Allahabad Bank 13.10% (Fixed) 1.22% (One time fee) Rs.50,000- Rs.7.5 lakh 1-5 Years
    Yes Bank 14% (Fixed) Up to 2%One time fee Rs.20 lakh (Max) 1-5 Years
    .

    Salary requirements to avail Personal Loans in Chennai

    When availing a personal loan in Chennai, the salary requirements change from bank to bank. When looking for the bank offering the best interest rates, make sure to look out for the minimum salary requirement of the bank as well.

    • For salaried individuals - Banks have a minimum salary requirement between Rs.7,500 and Rs.50,000 for salaried individuals.
    • Self-employed individuals - Those having their own business should provide proof of income and most banks have an income requirement of Rs.1 lakh to Rs.2 lakh (profit) annually.

    Chennai Personal Loan FAQs

    1. What is the tenure range of personal loans?

      Most banks offer loans for a tenure of 1 to 5 years. The tenure decides the interest rate, the EMIs to be repaid to the bank monthly, etc.

    2. What documents are required when applying for a personal loan?

      You will need to submit your regular KYC documents (address and identity proof) - Passport, Aadhaar card, Voter’s ID, driving licence, any government employee card, etc. Apart from that, you will have to submit your payslips, last two years IT Returns, last six months bank statements, etc.

    3. Are there any additional charges for personal loans?

      You will have to pay the processing fee upfront when availing a loan. Apart from this there are no additional charges unless a prepayment is made.

    4. Will the loan be disbursed at once or in stages?

      Once your loan application has been approved by the bank or NBFC, the loan will be disbursed all at once. There is no option of splitting the disbursal.

    5. Can I prepay a loan after a couple of months?

      Most prepayment requirement for most banks is six months from the point of disbursal. Pre closing the loan in two months would not be a possibility. You would have to pay prepayment charges on the outstanding balance.


    Chennai Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for a personal loan with Bank Bazaar. I got continuous followups and forwarded my application to the concern bank immediately. The process was quite easy compared to banks. The website is good and user friendly. Overall good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
    • ICICI Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I took a personal loan with ICICI Bank through online channel. The rate of interest was quite high comparatively to other banks. The processing fee is good with ICICI. They have offered 85K and monthly installment is 7700 rupees. The tenure was for a period of one year.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
    • Axis Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have my personal loan with AXIS bank for about 1 year. The loan amount was 3 lakhs and the Interest rate was 13.5 % which is bit high than other banks. The tenure period was 5 years. The loan process was quick and the processing process was smooth. Here the pre closing process was also very simple and I paid 2500 which is nominal.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
    • HDB Financial Services Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was a very smooth process from HDB personal loan service. The rate of interest offered by HDB is fine and the documents were collected from my door step which was a easy process. It was a excellent experience with HDB personal loan department.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
    • Canara Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My salary account is through Canara bank so the process was very easy and smooth. They took only two days to process the loan and the response is immediate also the interest rate is fine. It is a excellent experience with Canara bank personal loan department.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan with HDFC bank for about 8 months. The loan amount was 9 lakhs and the interest rate was 11.29% which was satisfactory . The tenure period was 5 years. The loan process was very good and the processing fee was nominal.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I know bankbazaar.com from last 2-3 years, the experience was good so far with bankbazaar. The services provided by bankbazaar is good when compared to all other sources in the market. Customer service was good and their response was prompt. The mobile application of bankbazaar is easy to access and is user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 16, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan experience was very good with ICICI bank, the loan amount disbursed was Rs 2.38 lakhs with the rate of interest of 15.99% which is nominal when compared to all other banks. The process was smooth and i received my loan amount within 1 week. Customer service was good and they responded on time. I did not opt for insurance but they debited the insurance amount. The processing fees was nominal and the tenure of this loan is 5 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 16, 2018
    • Bank Bazaar Personal Loan
      "Very 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 will get it done with bank bazaar.I have been using the website for past one year,I liked the service so much and get multiple follow ups,alerts and mails.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 16, 2018
    • Citibank Personal Loan
      "Best banking"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with CITI bank,they have given a loan amount of 10 lakhs ,rate of interest is nominal as compared to others .The tenure is 5 years.I had submitted documents as well agent has come home and collected documents.Net banking is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 16, 2018
    • SBI Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      The State bank of India has disbursed my personal loan within 15days of time. They have approved and disbursed the required loan amount. The rate of interest and the charges are very low with the State bank of India personal loan services. The customer support service was good with the SBI.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • Bajaj Finserv Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Bajaj finserv has offered me a personal loan and they have disbursed the loan amount of Rs,2,15,000. This loan has the tenure of 5years. The rate of interest and the charges are high with the Bajaj finserv personal loan services, when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      This was my first time experience with bankbazaar and it was good. I came to know about bankbazaar through mail, the services provided by bankbazaar is comparatively good than other banking websites. Customer service was good and their response was prompt. The website of bankbazaar is easy to use and is user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • ICICI Bank Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      My personal loan application was approved with ICICI bank and the experience was good. The process was very fast and i received my loan amount within 1 week. Customer service was good and they responded on time. Documents were verified door step. The loan amount is for Rs 3.5 lakhs with the rate of interest of 10.99% which is nominal rate. They charged 1% processing fee which is nominal. The tenure of this loan is 3 years and it was overall a good service from ICICI bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It was a good experience with bankbazaar so far, they provide good services when compared to all other sources in the market. I know bankbazaar.com from last 9 months. Customer service of bankbazaar is good and their response was prompt. The mobile application of bankbazaar is easy to use and is user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      It was a very nice personal loan experience with ICICI bank, the process was very smooth and i received my loan amount within 1 week. The loan amount is for Rs 2 lakhs with the rate of interest of 12.99% which is nominal rate. Customer service was good and they provided door step service to collect the documents. The processing fees was nominal and they also charged for insurance which will be refunded if i preclose the loan before the tenure period and tenure of this loan is 4 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • Bank Bazaar Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I came to know about bankbazaar through one of my friend, the services provided by bankbazaar is good when compared to all other sources in the market. This was my first time experience with bankbazaar and it was good. Customer service was good and their response was prompt. The mobile application of bankbazaar is easy to use and is user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • Citibank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My personal loan application was approved by CITI bank and the experience was good. The process was quick and i received my loan amount within 1 week. Customer service with CITI bank was very good, they provided door step service to collect the documents and their response was on time. They charged very less processing fees, the loan amount was for Rs 5 lakhs with the rate of interest of 12.49% which is nominal rate. The tenure of this loan is 5 years and it was overall a good service from CITI bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • YES Bank Personal Loan
      "Very good account to use"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan from YES bank around 4 months ago. The required loan amount has been given and I am satisfied with it. The rate of interest and the charges are very nominal when compared with other banks. The customer support was good with the YES bank and they have disbursed the loan amount within 3days of time.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 12, 2018
    • Indian Bank Personal Loan
      "Personbal loan from Indian bank"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal Loan from INDIAN BANK.The approved loan amount was 20000 . The given rate of interest was 13%. The monthly EMI comes around 1000. the total tenure is for 24 months. It was a pre approved loan.The customer service and response is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 11, 2018
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