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 option 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 option 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 option 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 Customer Support
      "Responsive"
      0.5 5.0/5 "Blown Away!"
      For me, the bankbazaar website is good and very simply for navigation. Moreover it is much helpful to compare the interest rate with other banks. Through bankbazaar I got the loan from the bank easily. I received enough response and good service.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • IndusInd Bank Personal Loan
      "Simply Good"
      0.5 5.0/5 "Blown Away!"
      Indusind bank had processed my loan application properly. I am satisfied with the interest rate and their involvement was really good during the process. I got the personal loan without any hassles from the bank side. In all it is simply good.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Bank Bazaar Customer Support
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The frequent calls can be avoided with bank bazaar. The website of bank bazaar is easy to use and user friendly ., I was using bank bazaar mobile application which is very good in their User Interface. I would say, I got good service from bank bazaar.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • ICICI Bank Personal Loan
      "Need Transparency and genuine Follow up"
      0.5 1.0/5 "Really Bad"
      I dropped the personal loan plan from ICICI bank ,because I got confused withh which person to go with. Because there was 2 follow ups made by the ICICI team. So this is the reason I haven't proceed with the ICICI bank personal loan., The customer support explained me the product in a good manner.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Bank Bazaar Customer Support
      "Follow up was excellent"
      0.5 4.0/5 "Great!"
      I appreciate Bankbazaar for the continuous follow up calls they done in the process for my loan. They checked if the bank has contacted me and if I needed they could also provide me other banks options. In case the first option does not work. The services is excellent.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • HDB Financial Services Personal Loan
      "Average & paper work is much"
      0.5 3.0/5 "Satisfactory"
      I was told that the process at HDB financial services for the personal loan would complete in two to three days, but the process took around 15 days. Like wise I was supposed to provide minimal documentation, but finally I had to submit too much of paper work. Including the Electricity card, proof of the house owner who is my uncle and my dads proof. Only because I mentioned it was a own house. I needed three year tenure and was given four years. The loan letter has not been sent yet. The customer executive who handled the process was swift.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Bank Bazaar Customer Support
      "EXCELLENT"
      0.5 4.0/5 "Great!"
      My experience was good at Bankbazaar the response was prompt from them after I registered online. They contacted me and also helped me by processing my application The mobile app with bank bazaar is easy to use and customer friendly,and this was my first experience
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • ICICI Bank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      It was a pretty good service from ICICI bank for the personal loan. Actually this is my first experience for the loan process. The loan process completed in ten days of time the loan amount I have applied for 1.20 lakh and the processing fee they have charged is around 3000 rupees and tenured is for 4 years of time.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Bank Bazaar Customer Support
      "Good "
      0.5 5.0/5 "Blown Away!"
      Definitely I would not give any suggestions for bankbazaar. In fact I do not have suggestions for them as they are good in service. I did not find any difficulties in handling their website but it was too simple and informative. Overall service of bankbazaar is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Tata capital Personal Loan
      "No delays"
      0.5 5.0/5 "Blown Away!"
      I did not see any delay in the loan process. For my personal loan, Tata Capital provided a good response. There was no issues at all. The rate of interest is little high but it is manageable because when I compared with other banks, Tata capital is good in the rate of interest.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Bank Bazaar Customer Support
      "Good financial website"
      0.5 4.0/5 "Great!"
      I like the way Bank Bazaar works, it gives me lot of option. Its very helpful me to choose the best option which is available. Bank Bazaar educated me about my credit score and this feature comes to me at free of cost. Everything is great, but it would be great if one person takes care of customer's request. Because I was getting calls from different executives.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Axis Bank Personal Loan
      "Good in the beginnning need to improve with the ending part"
      0.5 5.0/5 "Blown Away!"
      Axis bank Disbursed my loan in the promised time then I have paid back the loan amount . But there was no clearance certificate issued by axis, The customer service was average with Axis bank. They have disbursed my loan within a hour time. It was an instant loan which I got from Axis . The rate of interest is high when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • HDB Financial Services Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      When I submitted the documents in HDB Finance for the personal loan, there was much process. They kept asking one by one documents, Every time I sent the papers twice, I gave manual documents and soft copy documents to them. They don't have proper communication or proper coordination amongst them, they should work on it. The person who came to get a sign he is supposed to come to my place but they asked me to come 1 km away from my place, they should give convenient service to the customer. Other than that branch people was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Axis Bank Personal Loan
      "Good in the beginning need to improve with the ending part "
      0.5 5.0/5 "Blown Away!"
      Axis bank Disbursed my loan in the promised time then I have paid back the loan amount . But there was no clearance certificate was issued by axis, The customer service was average with Axis bank. They have disbursed my loan within a hour time. It was an instant loan which I got from Axis . The rate of interest is high when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The customer support is very good with bank bazaar . They understands the customers needs and requirement. I came to know about many products with the help of bank bazaar portal. There customer support also helped to me to get in touch with the right bank partner. The website of bank bazaar is easy to use and user friendly. I know bank bazaar for a very long time.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • HDB Financial Services Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      HDB financial services executives told that I have due with Axis bank so that was the reason they told they cannot proceed with my personal loan application. The follow up with HDB financial services was good. They gave good response in regards to my personal loan application. The HDB financial service Interest is high when compared with others banks.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Seamless service was offered by CITI Bank. Everything was done on line it was more convenient. I had placed a request for the Personal loan through online, post which I just received a call from them. I did not submit any documents because I was holding an account with them it was a pretty old account. Even closure request can be initiated online time scales taken were very less, rate of interest offered by them is comparatively high.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Bank Bazaar Customer Support
      "All banking information at one place"
      0.5 5.0/5 "Blown Away!"
      The information showcased on the site Bankbazaar.com is 100% accurate and the site is very much reliable. The bank was giving the same information infact and there were no deviations on information provided absolutely . I got calls from bankbazaar their portal is very good.At the later stage they called up to check whether the loan was disbursed or not what more!!
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Standard Chartered Bank Personal Loan
      "Excellent customer service"
      0.5 5.0/5 "Blown Away!"
      Response was appropriate when it comes to SCB Personal loan. There was one guy, he was very much helpful he called and took my information and he was taking care of the entire process. Co-ordination part was excellent, he gave the next steps and he proactively gave all the information.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Bank Bazaar Customer Support
      "Immediate Response"
      0.5 4.5/5 "Excellent!"
      The minute my loan application was placed online, immediately I got a call from bankbazaar people. They connected with me and captured all the required information in order to process my loan application. Then they had forwarded my application to the bank without any delay.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
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    Chennai Personal Loan is Rated as "Great!" by 11069 Users

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    Personal Loan BYTES FROM OUR KITCHEN
    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 18 Aug 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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