1% - 2.5% of the Loan Amt
1% - 2.5% of the Loan Amt
Personal Loan in Chennai Features
Personal Loan Details
10.75% to 24% p.a.
1 year to 5 years
|Pre-closure Charges||2% - 5%|
No guarantor required
Are you running short on cash? Do not worry. Personal Loan is available for you. This loan is unsecured in nature with minimal documentation and less paperwork. This loan can get approved within 48 hours after the verification process.
Personal Loan Chennai is an unsecured loan that provides financial aid to customers at affordable interest rates. To get a Personal Loan, the applicant needs to have a rigid and good income source and has a good credit history.
Furthermore, there is no end-use restriction on the use of the personal loan amount. You can use this loan amount anywhere you want to do.
Personal Loan in Chennai Interest Rates – Oct 19 2021
The interest rates in a Personal Loan depends on the company’s profile and salary of a person. The interest rate of personal Loan starts @10.75% per annum.
|Name of the Bank||Interest Rate Range||Processing Fee Range||Loan Amount||Tenure|
|ICICI Bank||11.59% - 18.49% (Fixed)||2.25% (min. Rs.1149) One time fee||Rs.20 lakh (Max)||1-5 Years|
|CitiBank||10.99% - 15.99% (Fixed)||1% to 2.5%||Rs.30 lakh (Max)||1-5 Years|
|Kotak Mahindra Bank||10.99% to 24% p.a.||Up to 2.5% of the loan amount along with GST or service tax||Rs.50,000 to Rs.15 lakh||1 to 5 Years|
|Fullerton India||11.99% to 23.99 p.a.||Information not provided.||Up to Rs.20 lakh for salaried and up to Rs.30 lakh for self-employed individuals||1 to 4 Years|
|Bank of Baroda||11.35% - 14.35%Fixed||Rs.1,000 to Rs.10,000 (One time fee)||Rs.20,000 - Rs.2 lakh||4 Years (Max)|
|State Bank of India||12.90% - 14.90% (Fixed)||1% (One time fee)||Rs.24,000 - 15 lakh||5 Years|
|Aditya Birla||11.5% - 13.25% (Fixed)||Nil||Rs.30 lakh (Max)||1-5 Years|
|Allahabad Bank||Information not provided||1.06% of loan amount||Information not provided.||1 to 5 Years|
|Yes Bank||14% p.a.||Up to 2% (One-time fee)||Rs.2 lakh to Rs.20 lakh||1 to 5 Years|
|Corporation Bank||12.75% to 13.75% p.a.||Up to 1.5% Minimum amount of Rs.500||Up to Rs.3.50 lakh||Up to 5 Years|
Personal Loan Chennai Fees & Charges – Oct 19 2021
|HDFC Bank Personal Loan||0.25% to 1.50%||
2%, Nil foreclosure charges after 3 months
|Axis Bank Personal Loan||0.50% to 1.50%||Nil|
|ICICI Bank Personal Loan||0.25% to 1.50%||
2%, Nil foreclosure charges after 9 months
|SBI Personal Loan||500/- to 0.50%||Nil|
|Kotak Personal Loan||1% to 2%||
2.25% of fore closure amount if closed 1 month ahead of the tenure.
|IIFL Personal Loan||Nil||Nil|
|Muthoot Personal Loan||Nil||Nil|
|Manappauram Personal Loan||Nil||Nil|
|PNB Personal Loan||0.70% to 1%||Nil|
|Canara Bank Personal Loan||0.01||Nil|
|Andhra Bank Personal Loan||Nil||Nil|
To check Personal Loan Interest Rate for all major banks you can visit: Personal Loan Interest Rates
Personal Loan in Chennai Documents Required
List of Documents Required for Salaried Applicants
Salaried individuals must submit the following documents in addition to a completed personal loan application form:
|Photo Identity Proof (Any one)||Passport
|Address Proof (Any one)||
Utility Bill (telephone, electricity, water, gas) – less than 2 months old
Salary slips (Last 3 months)
Bank statements for the last 3 to 6 months (showing salary credit)
|Tax Paid (Any one||
IT returns (for 2 years)
|Residence Ownership Proof (Any one)||
|Proof of Job Continuity (Any one)||
Current employment certificate
Current job appointment letter (if more than 2 years have been spent in the same organisation)
Experience certificate (previous employer’s relieving or appointment letter along with job certificate)
|Proof of Investment (if any)||
Fixed assets, fixed deposit, shares, etc.
|Existing Loans (if any)||
Payment Track Record & Sanction letter
One coloured passport size photograph
List of Documents Required for Self-employed Applicants
Self-employed personal loan applicants must submit the following documents in addition to a fully completed loan application form:
|Photo Identity Proof (Any one)||Passport
|Address Proof (Any one)||
Utility Bill (telephone, water, electricity, gas) – less than 2 months old
|Proof of Residence Ownership (Any one)||
|Proof of Office Address and Ownership (Any one)||
|Proof of Business Existence (Any one)||
Copy of GST registration
Company registration license
Shop establishment proof
Last 2 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable
Savings/current account bank statement/ bank passbook for the past one year
|Proof of Investment (in case any)||
Investments such as fixed deposit, fixed assets, shares, etc.
|Existing Loans (in case any)||
Payment Track Record and sanction letter
|Professional Degree Certificate||
In case of professionals
One coloured passport size photograph
List of Documents Required for NRI Applicants
When applying for a personal loan, NRI candidates are typically required to submit the following documents:
|Identity Proof||Copy of the passport
Copy of the visa
|Employment Proof||Letter of Appointment
Labour/ Identity card (if applicable)
Official email ID or the HR’s email ID
|Income Proof||Last 6 months’ bank statements
Last 6 months’ salary slips or salary certificate
|Photograph||Passport size photographs|
List of Documents Required for Pensioners
When applying for a personal loan, a pensioner must submit the following documents:
|Identity/Age Proof (Any one)||
Voter ID card
School leaving certificate
|Address Proof (Any one)||Passport
|Income Proof (Any one)||
Last 6 months’ bank statements/salary slips
Copy of pension payment order
Income tax returns
Passport size photographs
Know More About: Personal Loan Eligibility Criteria
Personal Loan in Chennai Eligibility Criteria
The personal loan eligibility criteria for both Salaried and Self-Employed are different:
|Age||21 - 60 years||21 - 65 years|
|Minimum Income||Rs.15,000*||Rs.5 Lakh p.a.|
|Co-applicant||Not mandatory||Not mandatory|
|Loan Tenure||12 – 60 months||12 – 60 months|
|Maximum Loan Amount||Rs.40 Lakh||Rs.40 Lakh|
|Employment Type||Employees of private limited companies and public sector undertakings||
|Employment/Business Continuity||At least 2 years; minimum 1 year with current employer||
4 years Post Qualification experience for Doctors/ Chartered Accountants.
5 years Post Qualification experience for Company Secretary / Architect.
|CIBIL Score||750 and above||750 and above|
Resident Indian staying in own house or a rented house
*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000
*Note: The eligibility criteria vary from lender to lender.
Check Personal Loan Eligibility with Top Lenders in 2021
|Bank||Age Limit||Minimum Work Experience||
Minimum Income (Per Month)
|SBI||Up to 76 years||NA**||Rs.15,000|
|HDFC||21 to 60 years||2 years||Rs. 20,000|
|ICICI||23 to 58 years||2 to 5 years||Rs.17,500|
|Axis||21 to 60 years||NA**||Rs.15,000|
|Kotak Mahindra||22 to 55 years||1 year||Rs.25,000|
|Tata Capital||21 to 58 years||1 year||Rs.15,000|
|IndusInd||21 to 60 years||2 to 5 years||Rs.25,000|
|Ujjivan Small Finance||22 to 58 years||NA**||
Above the minimum wage limit
|India Infoline Finance Limited||25 to 60 years||6 months to 2 years||Rs.35,000|
|HDBFS||21 to 65 years||1 year to 3 years||
Rs.15,000 for salaried
Rs.1 lakh p.a. for self-employed
|Indian Overseas Bank||Up to 58 years||NA*||Rs.5,000|
|IDFC First Bank||23 to 68 years||3 years||NA*|
|Federal Bank||21 - 55 Years||3 years||Rs.25,000|
|Punjab National Bank||21 – 58 years||2 years for doctors||Rs.15,000|
|Andhra Bank||21 - 55 years||NA**||NA*|
Salaried: Rs.6,000 & above
Self-employed - Rs. 1.5 lakh
|IDBI Bank||Up to 75 years for Pensioners||NA**||Rs.1.5 lakh p.a.|
|Fullerton India||21 to 55 years||1 to 2 years||Rs.15,000|
|RBL Bank||25 to 60 years||1 to 3 years||Rs.25,000|
|Bank of Baroda||21 to 60 years||1 year to 2 years||
60% of gross monthly income
|Deutsche Bank||25 to 60 years||NA**||Rs.25,000|
|Karnataka Bank||NA**||3 years||NA*|
|United Bank of India||up to 75 Years||2 years||NA*|
|UCO Bank||21 to 65 years||1 year to 5 years||Rs.20,000|
*Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions
Learn More about Personal Loan: Click Here
- The minimum age requirements of the individual should be 21 years and a maximum of up to 60 years.
- The applicants must have work experience of three years. And the salary should be received in their accounts only.
- The applicants must have an excellent credit history.
- The job location of the applicant should be mentioned.
- A borrower should have a minimum income of INR 25,000 per month
Click here to know more about- Salaried Applicant
- The minimum age requirement for an independent person should be 25 years.
- The applicants applying for the personal loan should file ITR for the last three years.
- If the applicants are the businessman, then the business should be running from the past three years.
- The individual applicants’ credit score should be good .there should not be any debt or dues left.
- The annual income of the applicants should be a minimum of Rs 2.5 lakh.
- The whole documentation process of the personal loan is the applicants have to submit his financial and bank statements of the previous three months.
Click here to know more – Self-employed Applicant
Why Apply for a Personal Loan in Chennai?
- No need to deposit any collateral to the bank.
- A personal loan is a multi-purpose offer loan. It can be used for all the problems related to finance.
- The amount of a personal loan depends on the individual’s income.
- A Personal Loan does not need any guarantor or nominee.
How to apply for Personal Loan in Chennai?
- Visit www.dialabank.com.
- Go to the loan section and click on the personal loan link.
- The applicant will be directed to all personal loan details where they can choose their preferred city.
- For more information and free guidance, you may call on 9878981166.
Processing Fee / Prepayment Charges on Personal Loan in Chennai
Every Bank and NBFC charges a fee for processing your Personal Loan application. These charges are 1% of the sanctioned loan amount.
In case you wish to foreclose your loan before the agreed loan tenure, every lending institution charges you a penal prepayment fee. In most cases, you cannot close your loan before 12 months. Post that the charges vary depending on how many years the loan has done. These charges vary from 4% of the outstanding loan amount in the 2nd year to 2% in the loan’s 4th year.
Personal Loan EMI Calculator Chennai
You can use personal loan EMI calculator to calculate EMIs. Equated Monthly Installments, also known as EMI are the monthly fixed charges you pay to the bank as monthly repayment for the loan amount borrowed. Based on your profile, the interest rate on your loan is determined. Your EMI is calculated basis the personal loan Interest Rate you are charged by the bank and the amount of loan you have to take and the period for which you enjoy the loan.
CIBIL Score required for Personal Loan Chennai
Every lending institution has its own criteria for the minimum CIBIL score required for processing a Personal Loan application in Chennai. Most institutions require a minimum score of 750 to process your loan application.
The institutions don’t just look at the overall score and the detailed behaviour on the previous loans taken. This includes details on the type of loan taken and the amount borrowed. Any delayed payments for previous loans can act as a barrier to your availing a fresh loan.
Personal Loan Chennai Agents/Broker
Dialabank is the leading agent for availing Personal Loan in Chennai. You can apply online at www.dialabank.com or give a call at 9878981166
Dialabank helps you find the best option for Banks and NBFCs by providing you with a detailed market comparison of different banks to make the right choice. Visit our website www.dialabank.com and fill a simple form with your personal and employment details. Our customer relationship managers will soon get in touch with you.
Personal Loan Chennai Contact Number
Call 9878981166 and get instant help and approval for a Personal Loan in Chennai.
Pre Calculated EMI Table for Personal Loan Chennai
Chennai, also known as Madras, is the capital of the Indian state of Tamil Nadu. Located on the Coromandel Coast off the Bay of Bengal, it is the biggest cultural, economic and educational centre of south India. According to the 2011 Indian census, it is the sixth most populous city and the fourth-most populous urban agglomeration in India.
FAQs About Personal Loan Chennai
A personal loan is a type of unsecured loan that a person can avail of based upon their monthly income and CIBIL score. The loan amount available can be used for any personal purpose and need.
To get a personal loan you either walk into the nearest bank branch with basic documents like Aadhar Card, PAN Card, Salary Slip/Bank Statement, and ITR file of the last three years.
You can also fill out an inquiry form and apply online at Dialabank’s digital platform for better convenience and personalized assistance.
Interest rates for personal loans are 10.75% per annum. The rate of interest depends upon your monthly income, CIBIL Score, loan amount, and loan tenure.
Table of Contents
- 1 Best Banks for Personal Loan Chennai
- 2 Personal Loan in Chennai Features
- 3 Personal Loan in Chennai Interest Rates – Oct 19 2021
- 4 Personal Loan Chennai Fees & Charges – Oct 19 2021
- 5 Personal Loan in Chennai Documents Required
- 6 Personal Loan in Chennai Eligibility Criteria
- 7 Check Personal Loan Eligibility with Top Lenders in 2021
- 8 Why Apply for a Personal Loan in Chennai?
- 9 How to apply for Personal Loan in Chennai?
- 10 Processing Fee / Prepayment Charges on Personal Loan in Chennai
- 11 Personal Loan EMI Calculator Chennai
- 12 CIBIL Score required for Personal Loan Chennai
- 13 Personal Loan Chennai Agents/Broker
- 14 Personal Loan Chennai Contact Number
- 15 Pre Calculated EMI Table for Personal Loan Chennai
- 16 About Chennai
- 17 FAQs About Personal Loan Chennai