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Cholamandalam Home Loan Highlights
| Particulars | Details |
| Interest Rates | 9% – 20% p.a. |
| Sourcing and Processing Charges | Up to Rs 5,000 (including GST) |
Note: Interest rates as on 5th April 2024
Table of Contents
Cholamandalam Home Loan Interest Rates
Check out the home loan interest rate offered by Cholamandalam in the following table.
| Products | Interest Rate (p.a.) |
| Prime Salaried and Self-Employed Prime | 9% – 15% |
| Low Income Salaried | 10% – 18% |
| Affordable Housing (construction/new purchase or existing property) | 10% – 20% |
| Cash Salaried | 12% – 20% |
Compare Home Loan Interest Rates for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Apply Now |
| HDFC Bank Limited | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.50% - 10.35% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Apply for Home Loan at Attractive Interest Rates Click Here
Cholamandalam Home Loan Fees and Charges
Below-mentioned are the processing fees and other charges related to the home loan.
Chola Housing Loan Processing Fees
| Particulars | Rates |
| Sourcing and Processing Charges | Up to Rs 5,000 (including GST) |
| Admin Fees | Up to 2% of loan amount |
Chola Home Loan Prepayment Fees
Preclosure Charges
- For floating interest home rate loans: Nil
- For fixed interest rate home loans: 2% of the part payment
Part Payment Fees
- For floating interest rate home loans: Nil
- For fixed interest rate home loans: 2% of the amount paid for preclosure, if paid through own funds and 4% of the amount paid towards preclosure, if paid through balance transfer of the home loan
Other Charges for Cholamandalam Home Loans
| Particulars | Rates |
| Statement of Accounts | Rs 500 plus GST |
| Swapping Charges | Rs 500 plus GST |
| Duplicate No Objection Certificate (NOC) | Rs 500 plus GST |
| Interest rate reset | 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% per annum on the unpaid amount
– For other event(s) of default: 24% per annum on the amounts outstanding |
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
Home Loan EMI Calculator
₹
%
Year(s)
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