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
    11.99% - 19.50% 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
    11.00% - 17.99% Fixed
    2.25% (min. ₹1149) 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 2.5% 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
      "Financial advisor"
      0.5 4.0/5 "Great!"
      I got good response from Bank Bazaar, As soon as posted my loan request I got a response on the same day from them, to submit the documents to the bank. I came to know about Bank Bazaar through Google search. Everything fine, but would be great, if the provide proactive response to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Financial advisor"
      0.5 4.0/5 "Great!"
      I got good response from Bank Bazaar, As soon as posted my loan request I got a response on the same day from them, to submit the documents to the bank. I came to know about Bank Bazaar through Google search. Everything fine, but would be great if they provide service to the customer.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Response part has to be improved."
      0.5 3.0/5 "Satisfactory"
      I am unhappy with ICICI banking service, without my intimation ICICI closed my personal loan application. I tried reaching the bank, but unable to contact them. I have submitted all of my documents to ICICI but no response. They should improve on the response part and they should provide a better service too.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Hassle free experience"
      0.5 4.0/5 "Great!"
      HDFC done very fast personal loan process, within two to three days they have sanctioned the loan and they have fulfilled my requirement. I was looking for Rs.10 lakhs of loan amount, HDFC offered me the same for the tenure of five years and with the interest rate around 11% its good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "One stop solution"
      0.5 4.0/5 "Great!"
      Bank Bazaar is providing immediate action on customer's request, I could find various offers on the site. It make my job easier. I got very good response when I approached Bank Bazaar for the personal loan. Even I felt the user interface of Bank Bazaar is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Tata capital Personal Loan
      "Dissatisfed service"
      0.5 2.0/5 "Expected more"
      TATA Capital could not processed my loan, their customer service is good. I have requested the amount of Rs.10 lakhs but they ready to sanction amount of Rs.4 lakhs, I felt its not sufficient hence I asked them to close the application, but their interest rate is nominal.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Good. Can do better"
      0.5 4.0/5 "Great!"
      The response was pretty good from Bankbazaar because I received prompt calls. It would be better if they offer banks based on the customers requirement, because I clearly told that about the interest rate I was looking for. Still they connected me with a bank which was higher in interest and asked me to talk to negotiate with the bank. They should not try to convince the customer instead they should connect them to the right bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Good website"
      0.5 4.0/5 "Great!"
      I am fine with Bank Bazaar, initially loan process was good they have responded well and they helped me to get a tie up with Bank. I would like to suggest Bank Bazaar should coordinate with the customer after processing the application to the bank for loan products.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Should give proper communication"
      0.5 2.0/5 "Expected more"
      I am not aware of the ICICI loan rejection status, Initial they called and collected the documents. Then there was no response from their end. In fact ICICI interest rate is high, it should be flexible, so many people can afford it and they should give transparent information about the application.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Best"
      0.5 5.0/5 "Blown Away!"
      I had closed the personal loan from HDFC bank and the interest rate was around 14.5%, also I did not get the NOC papers because I used to get the notification through online itself. I used to take the loan through only offers like nil processing charges or a lesser one.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Citibank Personal Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      Citibank was good in the response after I applied for the personal loan. I did not go ahead because they did not offer me the interest rate I was looking for. I needed a rate below 11% and the bank was offering a rate of 12%. The processing charges were high.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Friendly and Fast process"
      0.5 4.0/5 "Great!"
      HDFC processing fee is low, but interest rate was on the higher side when compared with CITI Bank for the personal loan. I took the amount of Rs. 8 lakhs and this was for a tenure of five years. I am very satisfied with HDFC service, they had processed the loan fast without any delay.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Good Website"
      0.5 3.0/5 "Satisfactory"
      It is the very first time I tried to take personal loan through Bank Bazaar and it is good. My friend referred me to the site but unfortunately I am unable to process my loan with Bank. I got an excellent support, they called and helped on the loan process, they explained me and also they guided me accordingly.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Citibank Personal Loan
      "Response part has to be improved"
      0.5 1.0/5 "Really Bad"
      There was no response from CITI Bank, no body contacted me with regards to the loan process. In fact no one reached me to collect the documents. I had waited for a week then I have processed personal loan with some other bank. Compared to CITI service HDFC is the best.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • HDFC Bank Personal Loan
      "Good Interest rate"
      0.5 4.0/5 "Great!"
      I made an inquiry with HDFC bank for the personal loan. The interest rate offered was 11% for the personal loan and the loan amount is 5.5 lakhs. When compared with other banks and other financial competitor, HDFC is better in terms of the interest rate especially when it comes to personal loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Bank Bazaar Customer Support
      "Financial Website"
      0.5 5.0/5 "Blown Away!"
      When I am in need of a personal loan, I posted my request at Bank Bazaar, within a hour I got a call and they gave an idea to take personal loan. Bank Bazaar helped me with regards to the loan process, suggested multiple options too. The Bank Bazaar application is very much easy to use.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • ICICI Bank Personal Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      ICICI told me to open new account, I denied to open in fact at the time I was in a station. That's the reason ICICI have closed the loan application. Interest rate is little bit high compared to other competitor, for me they offered 11.2% of interest.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Tata capital Personal Loan
      "Its good"
      0.5 5.0/5 "Blown Away!"
      Tata Capital offered me 11.49% of interest rate for the personal loan and they processed the loan within 48 hours of time its good. I am very much happy with their service, I took the amount of Rs. 7 lakhs for six years. Processing fee of Rs.999 its very low.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 21, 2017
    • Bank Bazaar Customer Support
      "Easy to navigate"
      0.5 5.0/5 "Blown Away!"
      Everything processed on time, only the concerned about the bank end. Previously also I have taken credit card through Bank Bazaar. I am getting satisfactory service always, whenever I reach them for any financial needs. The website is also easy to use and it has multiple option.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 21, 2017
    • Citibank Personal Loan
      "Response part has to be improved"
      0.5 3.0/5 "Satisfactory"
      The bank have not contacted me on particular time, Hence I have taken loan from other institute. I waited around two days, there was no response then I got a call from CITI Bank but at the time I have processed my loan with some other financial institute.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 21, 2017
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    Chennai Personal Loan is Rated as "Great!" by 10863 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    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 Jun 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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