Cholamandalam Home Loan
Cholamandalam Investment and Finance Company Limited (Chola) was founded in 1978 as the Murugappa Group's financial services company. The company offers home loans that suit the budget of every individual. With 167+ branches across the country, Chola assists you in achieving the house of your dream.
Types of Cholamandalam Home Loans
The types of home loans offered by Cholamandalam are as follows:
- Home Loans for Self-construction
- Loans for purchase of ready to occupy homes
- Balance transfer of existing home loan
- Loans for purchase of plots
Features and Benefits of Cholamandalam Home Loan
Cholamandalam home loans come with the following features and benefits:
- Low interest rates and processing fees.
- The loan amount depends on your credit profile and repaying capacity.
- Flexible repayment options.
- Quick loan approval process.
- Your existing home loans with other banks can be transferred to Cholamandalam at a low interest rate.
Compare and Apply For home loan.
Documents Required for Cholamandalam Home Loan
To apply for a home loan with Cholamandalam, you require the following documents:
- Duly filled loan application form
- Proof of Address: Passport/Utility Bills/Driving Licence/Voter ID
- Proof of Identity: Aadhaar Card/Driving Licence/Voter ID/Passport
- Payslips for 3 months
- Bank statement for last 6 months
- Form 16 of last 2 years
- Passport size photographs
FAQs on Cholamandalam Home Loan
- How to apply for a Cholamandalam home loan?
You can apply for a Cholamandalam home loan online or by visiting your nearest Cholamandalam branch.
- Can I transfer an existing home loan to Cholamandalam?
Yes. You can transfer your existing home loan to Cholamandalam.
- What is the maximum loan amount offered by Cholamandalam?
Cholamandalam offers home loans depending on your repaying capacity and credit profile.
- Can I pre-close my Cholamandalam home loan?
Yes, you can pre-close your Cholamandalam home loan. For any pre-closure beyond 12 months from the date of the agreement, you will have to pay up to 4% of the outstanding principal. Similarly, for pre-closure from 7 to 12 months from the date of the agreement, up to 5% of the outstanding principal will be charged.
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