Personal Loan in Chennai

Personal Loan

Loan Amount

Rs. 1 lakh to Rs. 1 crore

Interest Rate

10.50% onward

Tenure

1 year to 5 years

Processing Fee

Up to 2% of the loan amount

Prepayment Charges

Up to 5% of the outstanding principal

Personal Loan in Chennai is an unsecured loan which can be availed by any individual for any kind of financial needs. Unsecured loans are the ones that do not require any collateral security for availing funds. Personal loans are quite common in banking industry these days. Loanbaba is your trusted personal loan provider in Chennai. This fintech firm helps you to access top banks such as HDFC Bank, Muthoot Finance, Kotak Mahindra Bank, RBL Bank and other financial institutions for getting funds.

Chennai, a 369-years old city, which was known as Madras earlier, is the state capital of Tamil Nadu and is 6th largest Indian city in terms of population. Considered in world’s one of the fastest growing cities, Chennai also has a rich culture. The city is a major medical tourism destination. Also, as the city is fast paced, the residents often are in need of quick cash for myriad expenses, which can be fulfilled with a personal loan from financial institutions. You can compare personal loans interest rates in Chennai at loanbaba.com.

Features of Personal loan in Chennai

Many NBFCs along with Private and public sector banks offer personal loans in Chennai. Usually, personal loans are granted taking into consideration one’s employment status, annual income and repaying capacity. Here are the features of this type of collateral-free loan:

Benefits of Taking Personal Loan in Chennai

Some of the top banks which offer personal loans in Chennai are HDFC Bank, Kotak Mahindra Bank,Axis Bank etc. Before taking personal loan one can check individual eligibility and assess repaying capability through tools like EMI calculator available on our website. Below-given are the benefits of taking Chennai personal loan on Loanbaba.

Personal Loan Chennai Eligibility Criteria

If you want to apply for a personal loan in Chennai, then we are here with several offers from top banks and NBFCs. To be eligible to apply, you need to meet a few criteria for getting the application approved by the lending institution. Below mentioned are few of such criteria:

Documentation Required to Apply for Chennai Personal Loan

For getting your personal loan sanctioned you need to produce your:

Salaried Individual: In case of salaried employees, salary slips for last 3 months and bank statement (in which salary is credited) for last 6 months needs to be rendered.

Self-Employed Individual: For self-employed people, address proof of the office, proof of business continuity and office ownership, and audited financial statements need to be provided.

Personal Loan in Chennai Interest Rate

State Bank of India offers the lowest rate at 10.50% followed by the HDFC Bank (10.75%). Thus, the lowest monthly instalment for Rs. 1 lakh is Rs. 2,149. Here are some of the features of Personal Loan Interest Rate in Chennai:

Personal Loan Chennai Repayment Terms and Conditions

One of the best things about taking a personal loan is the flexible repayment terms and conditions. You can literally choose tenure and amount of your choice depending on your repayment ability. In secured loans, the amount of fund approved depends on the value of the asset to be secured with the lender. Here, your monthly income or ability to repay takes a secondary consider, but however remains important. In the matter of a personal loan, your repayment capacity resumes importance because the borrowing is collateral-free. Here are some of the terms and conditions regarding personal loan repayment:

Why Choose Loanbaba for Personal Loan in Chennai?

Our website helps you access finance within just a few hours. All you have to do is apply for a personal loan if you are in Chennai, and we are here to do the needful. We will guide you through the loan application process by understanding your need for funds. Based on your requirement, we will find you the right match of bank/NBFC to meet your financial needs.

Frequently Asked Questions about Chennai Personal Loan

Here are the FAQs on Personal Loan Chennai: