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Cholamandalam Personal Loan

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Paperless Digital Process

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

About Cholamandalam Personal Loan

  • Cholamandalam personal loans are offered at attractive interest rates to meet personal financial needs.
  • Applicants can apply through Paisabazaar to experience a hassle-free paperless digital process and end-to-end expert assistance.
  • The loan approval is based on the applicants’ repayment capacity and creditworthiness.
  • Cholamandalam personal loans come with convenient loan repayment options and require minimal paperwork
  • These personal loans are collateral-free, are processed instantly and disbursed quickly within 24 to 48 hours of approval.

Cholamandalam Personal Loan Highlights

  • Interest Rate: 10%-28% p.a.
  • Loan Amount: Up to Rs 35 lakh
  • Tenure: Up to 5 years
  • Processing Fees: Up to 2% of the loan amount

Disclaimer: Cholamandalam Investment and Finance Company Limited is not a Paisabazaar partner for personal loans and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Cholamandalam Investment and Finance Company Limited for personal loans. No offers/services from Cholamandalam Investment and Finance Company Limited are being provided by Paisabazaar for personal loans. For further information about Cholamandalam Investment and Finance Company Limited for personal loans, users are required to reach out directly to Cholamandalam Investment and Finance Company Limited.

Cholamandalam Personal Loan Interest Rates

Products Interest Rates (p.a.)
Personal Loan (Salaried and Professional)- Term Loan 10%-28%
Personal Loan (Salaried and Professional)- Drop Line Flexi Loan 10%-28%

Types of Cholamandalam Personal Loan

Cholamandalam Instant Personal Loan

  • Purpose: Cholamandalam offers Instant Personal Loan to salaried/professionals/self-employed individuals through its Chola One app. The lender claims to disburse the loan in just 15 minutes of loan approval.

Cholamandalam Personal Loan for Salaried Employees

  • Purpose: Cholamandalam offers “Personal Loan for Salaried Employees” with quick loan processing and paperless digital approval process to meet the personal requirements of salaried individuals.
  • Loan Amount: Up to Rs 35 lakh
  • Tenure: Up to 5 years

Cholamandalam Personal Loan for Self-employed Professionals

  • Purpose: Cholamandalam offers “Personal Loan for Self-employed Professionals” to fulfill the personal requirements of self-employed professionals.
  • Loan Amount: Up to Rs 35 lakh
  • Tenure: Up to 5 years

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Eligibility Criteria for Cholamandalam Personal Loan

  • Nationality- Indian citizen
  • Age- 23 years (at the time of loan application) and 65 years (at the time of loan maturity)
  • Monthly income- Above Rs 10,000

Documents Required for availing Cholamandalam Personal Loan

  • ID Proof- PAN card, Aadhaar card
  • Bank account details
  • Registration information/Educational proof for professionals
  • Business proof (GST/ITRs/IEC/FSSAI) for self-employed

Cholamandalam Personal Loan Fees and Charges

Particulars Charges
Processing Fees Up to 2% of the loan amount
Pre-closure Charges (Part payment/Full
Closure)		 Up to 4% of outstanding principal
Statement of account Up to Rs 500 per copy
AMC (for drop line flexi loan) Up to 1% of total credit limit on the
date of levy of such charges
Mandate rejection charges Up to Rs 500
Swap Charges Up to Rs 500
Physical repayment schedule charges Up to Rs 500
Duplicate NOC Up to Rs 1,000
Cheque bounce charges Up to Rs 1,000
Penal Interest Maximum 36% p.a. on the amount outstanding from the due date to the date of actual payment

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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