Personal Loan in Chennai

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.

Personal loan in Chennai is an unsecured loan which can be availed by any individual for any kind of structured or unstructured financial needs. Unsecured loan means one which doesn’t require any collateral security to be created. Personal loans are quite common in banking industry these days. Loanbaba is your trusted personal loan provider in Chennai that helps you access top banks such as SBI, ICICI, Axis etc. and NBFCs for getting funds.

Features of Personal loan in Chennai

Many NBFCs along with Private and public sector banks offer personal loans in Chennai. The banks and NBFCs offer unsecured personal loans ranging from Rs. 50 thousand to Rs. 20 lakhs. Usually, personal loans are granted taking into consideration one’s employment status, annual income and repaying capacity.

Some of the top banks which offer personal loans in Chennai are HDFC Bank, Kotak Mahindra Bank, ICICI Bank, Axis Bank, etc. Before taking personal loan one can check individual eligibility and assess repaying capability through tools like EMI calculator available in web portals such as loanbaba.com.

Benefits of taking personal loan in Chennai
  • There is no restriction on use of funds. You are free to utilize funds anywhere you want.
  • These loans require minimal documentation which makes it easy and quick to process.
  • Banks take very less time to disburse the loan amount. Generally it takes a few hours to transfer the loan in your account.
  • The interest rate is lower than that of credit card.
Documentation requirements for personal loan in Chennai

For getting your personal loan sanctioned you need to produce your identity card (Aadhar, PAN, driving license, voter identity card or passport) along with address proof (Passport, ration card, Aadhar, voter identity card, driving license or utility bills). There is a requirement of 2 passport size photographs too.

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.

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

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