Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 33 Chennai Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 16.49% Fixed
    0 Bankbazaar Exclusive
    30L Max
    1-5 Years
    Response Time : Within 30 minutes
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    Customer Reviews
    11.50% - 17.25% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon Voucher 100% PAPERLESS APPROVAL
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    Customer Reviews
    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon Voucher 100% PAPERLESS APPROVAL
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    Eligibility Criteria
    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    10.99% - 21.25% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
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    Perks
    Fees & Charges
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    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.1,000 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11% - 16% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 18.25% Fixed
    2.25% (min. ₹1,499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 18.15% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon Voucher 100% PAPERLESS APPROVAL
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    Perks
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    Customer Reviews
    12.49% - 33% Fixed
    6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    Perks
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    10.99% - 14.49% Fixed
    0%
    30L Max
    1-5 years
    Response Time : Within 30 minutes
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.49% - 19.99% Fixed
    Up to 2%
    Upto 25L
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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  • Chennai Personal Loan is Rated as "Great!" by 12790 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Chennai Personal Loan

    Apply for Personal Loan

    Chennai, a busy city, is the capital of Tamil Nadu. It is located on the Coromandel Coast on the Bay of Bengal in the eastern part of the country. The city has a population of around 46.5 lakh people. The city attracts medical tourism on a yearly basis very successfully. It has famous financial, cultural, IT, and educational centres that have been functioning for several years.

    If you are in need of reliable financial assistance for your personal needs, you can apply for a personal loan from any of the banks or non-banking financial companies (NBFCs). Personal loans are typically unsecured in nature. However, if you need a secured loan, you could take a personal loan against shares, against gold, or against mortgage.

    In Chennai, there are top lenders that provide loans through online and offline methods. You can select your lender depending on your requirement and repayment capacity. If you buy online, you can enjoy paperless documentation, make comparisons of interest rates, fees, and other charges.


    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 16 Jul 2018

    Chennai Personal Loan Details
    Interest Rate (Monthly reducing balance) 10.99% to 24% p.a.
    Processing Fees Up to 2.5% of the loan amount
    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 Loans offered by Various Lenders in Chennai

    A few of the prominent banks and non-banking financial companies (NBFCs) that offer personal loans in the city include:

    • State Bank of India (SBI)
    • Aditya Birla
    • Tamilnad Mercantile Bank
    • Tata Capital
    • ICICI Bank
    • Indian Bank
    • Andhra Bank
    • Axis Bank
    • HDFC Bank
    • Kotak Mahindra Bank
    • Fullerton India
    • Oriental Bank of Commerce
    • Standard Chartered Bank
    • Citibank
    • Syndicate Bank
    • Punjab National Bank
    • Corporation Bank
    • Karur Vysya Bank

    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 10.99% to 24% p.a. Up to 2.5% of the loan amount along with GST or service tax Rs.50,000 to Rs.15 lakh 1 to 5 Years
    Fullerton India 11.99% to 23.99 p.a. Information not provided. Up to Rs.20 lakh for salaried and up to Rs.30 lakh for self-employed individuals 1 to 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 11.85% to 14.70% p.a. 1% Rs.25,000 to Rs.15 lakh Up to 84 months
    Aditya Birla 14% to 26% p.a. Nil Rs.25,000 to Rs.15 lakh 6 to 36 months
    Allahabad Bank Information not provided 1.06% of loan amount Information not provided. 1 to 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

    • Tata capital Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I took loan personal loan from the Tata Capital for 4.25 lacs. I got the loan amount with in 15 days cheque. The interest rate was 14% initially and they reduced the interest rate to 13.5% Overall it has been a good experience so far. They need to lower the interest rates.
      Was this review helpful? 2
      , chennai
      Reviewed on Jul 13, 2018
    • Bajaj Finserv Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was a too expensive loan where the interest rate with them had been on the higher end. The process in getting the loan had been simple and smooth and the loan amount of 1.25L which they had provided me has been satisfactory. There has not been any hassle faced during the whole process and i am satisfied with the services of them.
      Was this review helpful? 2
      , chennai
      Reviewed on Jul 13, 2018
    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It had been a very good experience with Bank Bazaar services and whenever i used to search for any products i used to get immediate response from their side. They had been explaining everything clearly and i am happy with all the services of them. I had been using the website of them and it had been easy in using it. There also had been mails coming from their end regarding the new offers.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 12, 2018
    • Standard Chartered Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since the interest rate has been low with them. The whole process in getting the loan had been very good where it had been simple. There has not been any sort of processing fee or extra charges which they had made. Their customer support and the staff responses had been responsive as well.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 12, 2018
    • HDFC Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It had been a very good experience with them and the process in getting the loan had been easy and smooth. The loan amount which they had provided had been satisfactory. The interest rate with them had been normal compared with the market rate. I had taken this loan for my personal usage.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 12, 2018
    • Bank Bazaar Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It had been a very good experience with the Bank Bazaar services and i had been using the services of them for a very long time. I have also taken my insurance policy through Bank Bazaar. I had been using the mobile application of them and it had been easy in using it. Their customer support also had been responsive in the follow ups.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 12, 2018
    • Cashe Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It had been a very easy and smooth process in getting this loan. The loan amount which they had given had been less than i expected, the loan was for ten thousand but after the approval they had taken some amount from it for the processing or so. The interest rate with them had been good and the customer support and the staff responses had been good and was up to the mark.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 12, 2018
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with CITI bank 1 month back. The rate of interest was very high and the loan amount was 1 lakh . The EMI period is 2 years . The process was quite easy and i had a simple documentation since i am holding a card here. The processing fee was 1% and the followup's done properly.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 12, 2018
    • HDFC Bank Personal Loan
      "They need to reduce the pre-closure charges"
      0.5 3.0/5 "Satisfactory"
      They have offered me a interest rate of 10.99 % which is very low compared to other banks. I have applied the personal loan amount of 5 lakhs and they have sanctioned the same. I don't remember about the processing fee. I used to pay the EMI amount of Rs. 16000 every month. Its easy to get a loan from the HDFC and i have received on time also. The pre-closure is available which is 4% and i have not availed the same.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 11, 2018
    • Axis Bank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with AXIS bank 1 year back. The loan amount was 2 lakhs and the interest rate was bit high . The EMI period was 3 years . I had a good and hassle free process. The documentation was very simple and the processing fee was 2%. There is no delay in sanctioning the loan here.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 11, 2018
    • HDFC Bank Personal Loan
      "Need to reduce charges"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience was good with HDFC bank, the loan amount was for Rs 7.5 lakhs with high interest rate when compared to other banks. I was not informed about the processing fee. Customer service was good and they responded on time. The tenure for this loan is 3 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 10, 2018
    • Bank Bazaar Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had a good experience with BANK BAZAAR . Their customer service and responses was good. I am a bit upset since my application got rejected here otherwise I am very much happy using their website which is really amazing and it is very much user friendly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 06, 2018
    • ICICI Bank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I had a plan to taken my personal loan with ICICI bank. My application was rejected due to my low salary . Their customer service and responsiveness was not good at all.I was looking for 1 lakh loan amount here .My overall experience was average .
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 06, 2018
    • HDFC Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      HDFC is very good banking. In HDFC, I'm very happy about the banking services. Within 5 minutes, they have approved the loan without any documents. For emergency purpose, it is very much useful. I have got a loan amount of Rs. 1.5 lakhs. They have provided me a interest rate of 15.5% per annum. They have given a me a processing fee of Rs. 2000. I used to pay the EMI amount of Rs. 7280. Tenure period of the loan is 2 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 06, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      This was my first time experience with bankbazaar and it was good, i came to know about bankbazaar through google. Customer service was good and their response is on time. The website of bankbazaar is easy to navigate and is user friendly to use.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 05, 2018
    • HDFC Bank Personal Loan
      "Need to reduce ROI"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from HDFC bank, my loan application was closed because my credit score was less. When it comes to the customer service of HDFC bank, it was good and they followed up on time. The rate of interest was quite high when compared to other banks.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 05, 2018
    • Bank Bazaar Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I am using the services of bankbazaar from last 6 months, the services provided by bankbazaar is good when compared to others in the market. Customer service was good and their response was prompt. The mobile application of bankbazaar is user friendly and easy to use.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 05, 2018
    • ICICI Bank Personal Loan
      "Need to reduce charges"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from ICICI bank, my loan application was closed because i have postponed the plan to get the personal loan. When it comes to customer service, it was good and they responded on time. The rate of interest was high when compared to other banks.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 05, 2018
    • Bank Bazaar Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I had a good experience with BANK BAZAAR as their customer service and responsiveness was really good.I use their mobile application which is very satisfactory . The web portal's accuracy ands peed is good so I would like to recommend to others.MY overall experience was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 05, 2018
    • HDFC Bank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      I have approached HDFC bank for a personal loan. I was expecting 5 lakhs but i have canceled the request due to my personal reasons. Their customer service and responsiveness was up to the mark.My overall experience was good so I would like to recommend to others,.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 05, 2018
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