Personal Loan in Chennai

Top Banks Offering Personal Loan in Chennai

Bank NameMain Branch AddressRate of Interest
State Bank of India (SBI)Plot no 1236, new no 41,, 18th Main Rd, Anna Nagar, Chennai, Tamil Nadu 60004010.75% - 15.15%
HDFCBroadway, Old No, 153 New No, 154 Prakasam Salai, Chennai, Tamil Nadu 60010811.25% - 21.25%
ICICIY Block, Anna Nagar VI Main, 0, Chennai, Tamil Nadu 60004010.99% - 18.49%
Axis82, Dr. Radhakrishnan Salai, Mylapore, Chennai, Tamil Nadu 600004

15.50% - 24.00%

Punjab National BankPlot No 4055, 4th Main Road, Anna Nagar, Chennai, Tamil Nadu 60004011.25% - 15.00%
Bank of India17/30, Star House, Errabalu St, Parry's Corner, George Town, Chennai, Tamil Nadu 60000111.90% - 13.90%
Bank of Baroda476, "C", N Beach Rd, Mannady, Chennai Port Trust, Chennai, Tamil Nadu 60000111.75% - 16.75%
Central Bank of IndiaGandhi Street, Thirumalairayanpattinam, Karunabigai Colony, Velachery, Chennai, Tamil Nadu 600042

10.25% - 12.50%
IDBI Bank44/86, 4th Avenue, Near R3 Police Station, Ashok Nagar, Chennai, Tamil Nadu 60008312.00% - 14.00%

Personal Loan Chennai Interest Rate

ParticularsDetails
Interest Rates10.75% - 25.00%
Processing Fee1%-2.00% of the loan amount+GST
Pre-payment Charges3%-5.00% of the principal outstanding+GST
Repayment Period Upto 5 Years
Lowest EMI ₹2,204-2,935 (per Lakh)

Personal Loan Chennai Calculator

When it comes to a personal loan EMI Calculator online, it is one such device that lets you about your EMIs, Interest Outgo and Total Amount Payable in the easiest manner. This smart tool takes into consideration, the loan amount, interest rate and tenure, thus displays the calculations in front of you.

For your reference below is a table showing the calculations on a loan amount of ₹5 Lakh, taken for a tenure of 4 years at an interest rate of 11.59% per annum.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 5,00,00011.59%1₹ 44,329₹ 31,943₹ 5,31,943
₹ 5,00,00011.59%2₹ 23,441₹ 62,587₹ 5,62,587
₹ 5,00,00011.59%3₹ 16,509₹ 94,339₹ 5,94,339
₹ 5,00,00011.59%4₹ 13,066₹ 1,27,191₹ 6,27,191

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

YearPrincipalInterestBalance Amount
1₹ 1,04,271₹ 52,526₹ 3,95,728
2₹ 1,17,019₹ 39,778₹ 2,78,708
3₹ 1,31,326₹ 25,471₹ 1,47,382
4₹ 1,47,507₹ 9416₹ 0

Eligibility Criteria

Personal Loans in Chennai for Salaried

Age: 21-60 Years
Income: ₹1,44,000-1,80,000 p.a.
Overall Work Experience: 2-3 Years
Work Stability with Current Employer:1 Year

Self-employed

Age: 24-65 Years
Income: ₹1,80,000-2,00,000 p.a.
Stability in Same Profession: 3 Years

Documents Required for Personal Loan in Chennai

  • Identity Proof- PAN Card/Voter ID/Driving License/Aadhar Card/Passport
  • Address Proof- Utility bill/Passport/Aadhar card/Voter ID
  • Income Proof- Latest Salary Slip/ ITR/Form-16
  • Bank Statement- Last 3-6 Month Bank Statement

About Personal Loan in Chennai

Located on the Bay of Bengal in eastern India, there is no denying of the fact that Chennai is one of the rising cities for sure. If we look at its finance sector, the city with the presence of many leading banks and NBFCs fulfills the financial needs of all. This is the reason that whenever you are in need of a personal loan, this city won’t disappoint you.

Being an unsecured loan, it would not be wrong to say that a personal loan can easily be availed at attractive interest rates and flexible tenures. This loan comes to you with no collateral or security required, thus serves your purposes instantly. If you are looking for immediate funds, personal loan is for you.

Personal Loan Providers in Chennai for CIBIL Defaulters

People having a low cibil score or those who have defaulted earlier, don’t need to worry as there are many lenders in Chennai that offer a personal loan to such borrowers.  That’s Right! There are many loan providers in the city, best known for offering the personal loan to cibil defaulters. However, for such applicants, the credit is available at higher interest rates along with high loan charges.

People Also Look For

Personal Loan Interest Rates August 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.25%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank10.99% - 14.49%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates August 2018
State Bank of India/SBI8.45% - 9.00%
HDFC8.70% - 9.40%
Bank of Baroda8.50% - 9.50%
LIC Housing8.45% - 8.90%
PNB Housing Finance8.99% - 10.75%
ICICI Bank8.55% - 8.80%
Axis Bank8.50% - 8.85%
Citibank8.85% - 9.65%
Indiabulls Housing Finance Limited8.70% - 9.85%
Kotak Bank8.65% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 10.00%
EMI Calculator