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Cholamandalam Home Loan Highlights
| Particulars | Details |
| Interest Rates | Floating: 10.50%-19% p.a.
Fixed: 13%-19% p.a. |
| Loan Amount | Rs 3 lakhs-Rs 40 lakhs |
| Tenure | Up to 20 years |
| Admin and Processing Charges | Up to 1.5% of the loan amount |
Note: Interest rates as of 10 September 2025
Table of Contents
Cholamandalam Home Loan Interest Rates
Cholamandalam offers home loans at an interest rate of 10.50% p.a. onwards. The home loan interest rates offered by the housing finance company are floating in nature. Stated below are the differential interest rates based on home loan schemes and employment profiles:
Cholamandalam Home Loan Floating Interest Rates
| Particulars | Interest Rates (p.a.) |
| Affordable housing – new purchase or existing or construction of property | 11% – 18% |
| Loans for shop and commercial property | 12% – 19% |
| Low Income Salaried | 11% – 18% |
| Cash Salaried | 12% – 19% |
| Self Employed Prime | 11% – 16% |
| Home Loan for Self-Employed Non-Professionals | 10.50% – 17% |
Cholamandalam Home Loan Fixed Interest Rates
| Particulars | Interest Rates (p.a.) |
| Affordable housing – new purchase or existing or construction of property | 13.5% – 18% |
| Loans for shop and commercial property | 14.5% – 19% |
| Low Income Salaried | 13.5% – 18% |
| Cash Salaried | 14.5% – 19% |
| Self Employed Prime | 13.5% – 16% |
| Home Loan for Self-Employed Non-Professionals | 13% – 17% |
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Cholamandalam Home Loan Fees and Charges
Below-mentioned are processing fees and other charges related to the home loan:-
Chola Housing Loan Processing Fees
| Particulars | Charges |
| Sourcing | Up to Rs 5,000 (including GST) |
| Admin Fees and Processing Charges | Up to 1.5% of the loan amount |
| Admin & Processing Fee towards commitment fee |
Up to 0.5% of the loan amount |
Chola Home Loan Pre-closure Charges (Part Payment or Full Closure)
- NIL prepayment charge is applicable for Individual Home Loans
- The prepayment or foreclosure charges will be applicable for loans sanctioned for business purposes:
- Up to 2% of the amount is prepaid if the borrower pays through their own funds.
- Up to 4% of the amount is prepaid if the borrower pays via a balance transfer of the loan to any other financier.
Other Charges for Cholamandalam Home Loans
| Particulars | Rates |
| Property valuation charges for each disbursement subsequent to the first disbursement |
Up to Rs 1,000 plus GST |
| Cheque & Mandate Swap Charges | Up to Rs 500 plus GST |
| Document/Duplicate Document Charges |
Re-Issuance of pay order or disbursement cheque: Up to Rs 500 per instance plus GST Statement of Accounts: Up to Rs 500 plus GST Duplicate NOC: Up to Rs 500 plus GST Duplicate List of Documents or Copy of Documents: Up to Rs 1,000 plus GST |
| Interest rate reset | Up to 2% of the principal outstanding |
| Switch fees for interest rate type change | 1% of principal outstanding |
| Penal Charges | – In case of delay in the payment of installments: 36% p.a. on the unpaid amount
– For other event(s) of default: Rs 20 per day from the date of |
| Legal Charges Recovery Charges | At actuals |
| Restructuring Charges | 1% of loan amount capped till Rs 15,000 |
| CERSAI | Up to Rs 118 plus GST |
Types of Cholamandalam Home Loan Schemes
Cholamandalam offers various home loan schemes to both salaried and self-employed applicants, with loan amounts ranging from Rs 3 lakh to Rs 40 lakhs and repayment tenures of up to 20 years.
- Self-Construction Loans
- Loans for Purchase of New Flat/Independent House
- Balance Transfer of Existing Loans from other financiers with Top-up loans
- Loans for Purchase of Resale Flat/Independent Houses
- Loans for the purchase of ready-to-occupy homes
- Loans for Mixed-Use (Residential with small commercial units)
- Home-Extension Loans
Documents Required for Cholamandalam Home Loan
Below-mentioned are the lists of documents required for home loan for identity proof as well as address proof.
Identity Proof
- Passport
- Voter ID card
- PAN card
- Driving License
- Ration card with photo
- Bank pass book (with attested photo) and bank statement (past 6 months)
- Pensioner ID Copy
- Employee photo ID card (issued by the Govt.)
- ESIC medical cards (with photo)
- Registered property documents (with photograph)
- Any other govt. issued ID proofs (like post office ID card)
- Aadhaar Card
- Pay slip of last 3 months – for salaried applicants
- Form 16 (Last 2 years)
- Certification of Incorporation or other incorporation documents – for business
- Shops and Establishment Act certificate
- Certificate for Sales tax registration
- Memorandum of Association/Articles of Association with registration certificate
- Registered Partnership Deed
Address Proof
- Passport
- Voter ID card
- Driving License
- Latest Property Tax receipt (not older than 6 months)
- Ration card
- Latest Telephone Bill – mobile or landline postpaid bills (not older than 6 months)
- Latest Utility bills like Electricity bill, Gas bill or New Gas card (not older than 6 months)
- Latest Bank statement (not older than 6 months)
- Registered property documents
- Any other govt. issued address proofs (like post office address/ID card issued by govt. companies and PSUs)
- Registered Lease Deed (along with utility bill) in landlord’s name
- Aadhaar Card
- Certification of Incorporation or other incorporation documents – for business
- Shops and Establishment Act certificate
- Certificate for Sales tax registration
Eligibility for availing Cholamandalam Home Loan
Both salaried and self-employed professionals are eligible to apply for Cholamandalam Home Loan.
Click Here: To know more about Home Loan eligibility
Cholamandalam Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395