Personal Loan in Chennai

Personal Loan Interest Rates of Top Banks/NBFCs in Chennai

Note: Rates as of 22nd September 2023

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Personal Loan Features

• Interest rates generally offered @ 10.49% p.a. onwards
• Loan Amount of up to Rs 40 lakh
• Loan tenure is mostly up to 5 years; may also range up to 7 years for some lenders
• Processing charges usually go up to 4% of loan amount
• Pre-approved personal loans sanctioned to select customers
• No collateral security required
• Instant loan disbursal offered by a few lenders
• For any personal use other than speculative purposes

Income Requirements for Personal Loan in Chennai

Minimum Income for Salaried Applicants: Rs 15,000 p.m; can be greater for a few Banks/NBFCs

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Eligibility for Personal Loan in Chennai

• Minimum age – 21 years
• Nationality: Indian resident
• The applicant should be salaried, self-employed professionals and self-employed non-professionals, employees of State/Central/Local Government employees of public and private sector companies
• Credit score: Preferably 750 and above for better chances of availing personal loan

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Documents Required for Personal Loan Application

• Application form with photographs attached
• ID Proof- PAN Card/Aadhaar Card/Voter ID/Passport/Driving License
• Age Proof- Aadhar Card/Birth Certificate/SSC Certificate/Voter ID/PAN Card
• Address Proof- Voter ID/Aadhar Card/copy of ration card/gas connection bills/ electricity bills/Passport/ Driving License
• Salary certificates/salary slips for last 3 months
• Bank account statement for past 6 months
• Form 16/Income Tax Returns for last 3 years

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