Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 33 Chennai Personal Loan
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    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 17.99%
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    30L Max
    1-5 Years
    Response Time : Within 30 minutes
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    10.99% - 25% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    14.99% - 14.99% Fixed
    Up to 2% One time fee
    20L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 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
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    11.5% - 13.5% Fixed
    1% + applicable tax One time fee
    2L - 25L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    11% - 16% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    100% PAPERLESS APPROVAL
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    11.00% - 18.25% Fixed
    From .75% (min. ₹999 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    10.99% - 18.15% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    Response Time : Within 30 minutes
    Rs.750 Amazon Voucher 100% PAPERLESS APPROVAL
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    12.49% - 33% Fixed
    6.0% One time fee
    15L Max
    1-4 Years
    Response Time : Within 30 minutes
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    10.99% - 14.49% Fixed
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    1-5 years
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    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 12972 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 23 Sep 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

    • HDFC Bank Personal Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with HDFC bank 1 year back. I have taken 2.5 lakhs and the interest rate was satisfactory . I am happy with the customer service and responses. There is no inconvenience faced and the process was completely hassle free.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 20, 2018
    • HDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with this personal loan and the loan amount which they had provided also had been satisfactory as well. The interest rate with them has been nominal when compared with the market rate. Their customer support also had been responsive where they had been helpful at times.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 19, 2018
    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with Bank Bazaar and i had been using it for checking about the credit scores and the interest rate as well. I had been using the website of them and it has been easy in using it. Their customer support also had been responsive where there has been good follow up during the process of my personal loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 19, 2018
    • ICICI Bank Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since one of my friend had suggested me about them. The process in getting this loan has been smooth and easy and the loan amount which they had provided also had been satisfactory. The interest rate with them has been nominal when compared with the market rate. Their customer support with them also had been responsive.
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 19, 2018
    • Axis Bank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      My personal loan was taken with AXIS BANK 6 months back. The loan amount was 2 lakhs and the interest rate was very high . The rate of interest was 11.5%which is satisfactory .I am completely happy with the service here since there is no inconvenience faced at all. They have sanctioned the loan with in 3 days.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 18, 2018
    • ICICI Bank Personal Loan
      "POOR"
      0.5 1.0/5 "Really Bad"
      My personal loan was taken with ICICI BANK , initially they said they will charge 14% of interest rate but later they charge 16% so i am not happy . The processing fee is 5% and tenure period is 5year . Customer support and their response is not up to the mark . The services is not satisfactory .
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 17, 2018
    • ICICI Bank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I had taken this Personal loan almost ten years back and the tenure period which they had provided had been good as well. The loan amount which they had provided had been good and the interest rate also had been good as well, there has not been any hassle faced with their banking services.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 17, 2018
    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with Bank Bazaar had been smooth when compared with the other portals. The approval happened very fast and smooth, and their customer support and their staff responses had been good as well. I had recently started using the services of them and when i had approached them they had made an immediate response and calls.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 17, 2018
    • ICICI Bank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had chosen to go with them since i was having my Salary account with ICICI and the process in getting the loan has been smooth and easy. The loan amount which they had provided also had been good. The interest rate with them has been nominal when compared with the market rate. Their customer support and their staff responses where good and the disbursal time also had been good with them.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 17, 2018
    • Bank Bazaar Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      It has been a very good experience i had with them so far and i had started using the services of them recently. I was using the website of them and it has been easy in using it, their customer support also had been responsive where there has been a good response which they had made during the process of getting my personal loan.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 17, 2018
    • Early Salary Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The process in getting this loan has been smooth and easy and the loan amount also had been satisfactory. They had charged me with a processing fee of 400 and the interest rate with them has been good as well. The charges from the GST also had been high, where there was no option to convert to EMI.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 17, 2018
    • Bank Bazaar Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      My experience was good so far with bankbazaar, i have used bankbazaar for the first time. The services provided by bankbazaar is good when compared to others. Customer service was good and they responded on time. Website of bankbazaar is easy to navigate and is user friendly.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 17, 2018
    • Kotak Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      It was an average experience with Kotak Mahindra bank for personal loan, the process took 30 days to complete and the customer support was not up to the mark. The loan amount was based on my requirement and the rate of interest was nominal when compared to other banks.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 17, 2018
    • HDFC Bank Personal Loan
      "Not satisfied with the service"
      0.5 1.0/5 "Really Bad"
      The experience i had with them has not been satisfactory and the process has been good in getting the loan. There has been some small issues when i was trying to close it before the tenure period where there was no option for a pre closure. The interest rate has been quite nominal with them and the loan amount was okay.
      Was this review helpful? 3
      , chennai
      Reviewed on Sep 17, 2018
    • Bank Bazaar Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      I have been using the Bank Bazaar services for a while. For the first time i have taken i have taken financial product through bank bazaar . The best part is the process of getting loan was to quick . Bank bazaar needs to filter the list suggested to the customers based on the requirements as per customer needs.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 16, 2018
    • HDFC Bank Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with HDFC BANK , the processing fee is 8000 and it is too high , there is no preclosere option with this bank . Rate of interest is 17.5% and it is not nominal in the market . Customer support and their response is good , i got my loan soon , there is no issue with this bank .
      Was this review helpful? 3
      , chennai
      Reviewed on Sep 16, 2018
    • Bank Bazaar Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the BankBazaar platform for a while, I have applied for a personal loan via BankBazaar. The whole application and the documentation process was easy and hassle free. The customer support follow up was equally good during the process.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 15, 2018
    • Early Salary Personal Loan
      "Quick loan expereince"
      0.5 5.0/5 "Blown Away!"
      I've applied for a short term loan from the EarlySalary. It was good, better. I got the on the same day. There were charges which was minimal. The whole application and the documentation process was easy and hassle free.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 15, 2018
    • Bank Bazaar Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience i had with Bank Bazaar and they had helped me a lot. I had recently started using the mobile application of them and it has been easy in using it, my suggestion is that the calls which they had been making should be minimal. Other than that there has not been any hassle faced with them so far.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 14, 2018
    • Cashe Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since one of my friend had referred about them and the whole process in getting the loan was comfortable and smooth. The loan amount which they had been provided also had been good and the rate of interest with them has been a little high when compared with the market rate but it has been okay. Their customer support and their staff responses also had been good as well.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 14, 2018
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