Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 3 Chennai Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2% 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
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  • Chennai Personal Loan Reviews

    • Bank Bazaar Personal Loan
      "Best financial service provider"
      0.5 5.0/5 "Blown Away!"
      The service provided by bankbazaar is excellent . At bankbazaar there are many options to compare among other banks. The credit score rating is really good. They notify new offers with other banks We can choose the best offer with the best interest. I am planning to get more products through bankbazaar. The executive contacted me was really helpful and polite.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Not satisfied"
      0.5 5.0/5 "Blown Away!"
      With HDFC bank, i have applied for a personal loan. The loan amount which the bank required was 2 lakhs. The tenure which the bank in need of was for three years which i was not satisfied with so i cancel the application with HDFC bank. I am not satisfied with the service of HDFC.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • Bank Bazaar Personal Loan
      "Experience is good"
      0.5 4.0/5 "Great!"
      The experience at Bankbazaar is good and the team was proactive in their customer services. They were very much responsive through the process. The website is good overall and I found it easy to submit my details and search for the right bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • IndusInd Bank Personal Loan
      "Good overall"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Indusind bank. The process was easy and the documentation was also a simple process. The interest rate was around 12% and processing charges is also normal. The after loan services is good and with ease the whole process was done.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • Axis Bank Personal Loan
      "Process is fantastic & good payment methods"
      0.5 5.0/5 "Blown Away!"
      I have also taken a personal loan earlier with Axis Bank. It was a excellent process and they have the benefit of a part payment option. This option is very beneficial as I have already closes three quarter of my loan. The interest rate and charges is normal too.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • Bank Bazaar Personal Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      The services at Bankbazaar is good and the overall experience is nice and on time. The whole process fell in place and there were regular follow up calls done. The website is pretty friendly and it is very easy to access and understand. Satisfactory overall.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from ICICI Bank and the process to get the loan was good. But I am no happy as they do not have a part payment option, due to which I am not able to close the loan easily. The interest rate and processing charges is on the higher side.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • Axis Bank Personal Loan
      "Good prepayment options"
      0.5 5.0/5 "Blown Away!"
      I am allowed to make prepayment with AXIS, once in every 6 months I can make some partial payment that in turn lowered the interest component and it reduced the outstanding amount too there by EMI amount was reduced. Pre payment charges were very much applicable from 5% to 8% .
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • Bank Bazaar Personal Loan
      "Fabulous"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com is really good one and the dealing went in the perfect way on every occasion. I am using Bankbazaar.com from the last 1.5 years of time. I am happy with them till now and I dont have any issues with them till now.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • ICICI Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      With ICICI bank it was not a pleasant experience. Response was not really good one with the ICICI bank. I would like to suggest that they need to understand the customer in better way. They were not transparent with me in terms of the rate of interest and tenure, they agreed upon something with me and took sign on papers for the same, but at the time of disbursement hidden charges were applied and the tenure of the loan as well as the interest rates were changed without my knowledge.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • Bank Bazaar Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      Bankbazaar.com is really an excellent one , also they are very good in response to the customer. Through internet search only, I came to know about Bankbazaar.com through online search and I dont have any issues on it.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • HDFC Bank Personal Loan
      "Best"
      0.5 4.0/5 "Great!"
      Rate of interest for the personal loan with the HDFC bank was around 13.5%, also am very well satisfied. I got the loan amount in ten days of time from the time, when I have applied. I would like to say that everything went in the good way.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 22, 2017
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The bank bazaar team gives good response to the customers. The website of bank bazaar is easy to use and user friendly. I got the call from bank bazaar customer service within a hour time after I gave my requirement in the bank bazaar website. I use the bank bazaar website for past 1 year.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The customer service of HDFC bank has told me that I got low credit score so that was the reason I haven't processes with the HDFC bank. The customer service of HDFC bank is good, they gave good response to the customers. The rate of interest is average with HDFC bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Bank Bazaar Good My experience with Bank bazaar was really amazing because their representative helped me a lot for the process and I have discussed and enquired a lot . Their customer service was very supportive and the responses was immediate. I use their EMI calculator and check my credit score on Bank bazaar's website which is very useful.Excellent customer service and support to the customer service skills and experience to help with the following link to the application process good service. Really appreciate your help and support.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      Application process is way to user friendly and fast. Have applied for a personal loan through bank bazaar - hope it gets fulfilled . they have some good offers for all times like free vouchers and promotions etc... online approval seems to be better any given day.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Whole expereince was nice"
      0.5 5.0/5 "Blown Away!"
      The services are very good at Bankbazaar.com and I am very pleased with the whole process. There was no delay in the communication and I also received a lot of follow up calls as well. I have used the website and it was a quick process on the portal too.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
    • ICICI Bank Personal Loan
      "Very high on the ROI and charges"
      0.5 5.0/5 "Blown Away!"
      The process at ICICI Bank was good and it was very quick. I have taken a personal loan and customer services was good, they collected my paper work on time as well. The interest rate was very high. It was around 16%. The processing charges are also very high.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
    • Bank Bazaar Personal Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      Bankbazaar.com have helped me in tracking the details for me related to the financial products. I would like to say that they are up to the satisfactory level , also response and other things are an excellent one with the Bankbazaar.com.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
    • HDFC Bank Personal Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      Rate of interest for the personal loan with the HDFC bank was around 1.35% per month. I would like to say that the response is an excellent one for me and I have not got the demand draft yet as it for my disbursal
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 21, 2017
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    Chennai Personal Loan is Rated as "Great!" by 11470 Users

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    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 RatesUpdated on 23 Sep 2017

    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 2017

    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. 


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