Personal Loan in Chennai
Apply and Get Instant Personal Loan in Chennai
Chennai is a major financial center in India. It is home to the headquarters of several banks and financial institutions, including the Indian Bank, the Bank of Baroda, and the Canara Bank. The city is also home to the Chennai Stock Exchange, which is the third-largest stock exchange in India.
In order to help you meet your financial needs, FinMarket, a well-known fintech company in India gives you access to several banks and NBFCs, offering Personal Loans online in Chennai, Tamil Nadu. It helps your financial needs including debt consolidation, medical expenses, travel, marriage expenses and child's education.
With our competitive Personal Loan interest rates in Chennai, hassle-free application procedures, instant approvals, and clearing eligibility requirements with end-to-end digitized process. Our user-friendly platform is an enticing and practical option for you.
Features and Benefits of Personal Loan in Chennai
- No Collateral Required
- Simplified Documentation Process
- Quick Personal Loan Disbursal
- Lowest Interest Rates
- Balance transfer and top up facilities
- Flexible Loan Repayment Tenure
Personal Loan Interest Rates in Chennai
| Bank Name | Interest Rate Range | Processing Fees | Loan Amount | Tenure | Enquire Now |
|---|---|---|---|---|---|
| HDFC Personal Loan | 10.75% to 14% | 0.5 to 2% | Up to 50 Lakhs | 1 to 5 Years | Apply Now |
| AXIS Personal Loan | 10.75% to 15% | 0.5 to 2% | Up to 40 Lakhs | 1 to 5 Years | Apply Now |
| ICICI Personal Loan | 10.75% to 15% | 0.5 to 2% | Up to 50 Lakhs | 1 to 5 Years | Apply Now |
| Kotak Personal Loan | 10.5% to 15% | 0.5 to 2% | Up to 30 Lakhs | 1 to 5 Years | Apply Now |
| Standard Chartered Personal Loan | 11.5% to 18% | 0.5 to 2% | Up to 50 Lakhs | 1 to 5 Years | Apply Now |
| Bajaj Finserv Personal Loan | 11.25% to 35% | 3 to 3.93% | Up to 40 Lakhs | 1 to 5 Years | Apply Now |
| SBI Personal Loan | 11.25% to 14% | 1 to 2.7% | Up to 20 Lakhs | 1 to 5 Years | Apply Now |
| IDFC Personal Loan | 11.5% to 28% | 1.25 to 3.5% | Up to 40 Lakhs | 1 to 5 Years | Apply Now |
| Tata Capital Personal Loan | 10.95% to 18% | 1 to 2.75% | Up to 35 Lakhs | 1 to 5 Years | Apply Now |
| YES Personal Loan | 9.4% to 10.25% | 1 to 2% | Up to 40 Lakhs | 1 to 5 Years | Apply Now |
| BOB Personal Loan | 10.95% to 10% | 1 to 2% | Up to 40 Lakhs | 1 to 5 Years | Apply Now |
| PNB Personal Loan | 10.95% to 18% | 1 to 2% | Up to 40 Lakhs | 1 to 5 Years | Apply Now |
| IndusInd Personal Loan | 12% to 18% | 1 to 2% | Up to 50 Lakhs | 1 to 5 Years | Apply Now |
| Aditya Birla Personal Loan | 11.5% to 18% | 1 to 3% | Up to 35 Lakhs | 1 to 5 Years | Apply Now |
| Finnable Personal Loan | 12.5% to 32% | 1 to 3% | Up to 5 Lakhs | 1 to 5 Years | Apply Now |
| Paysense Personal Loan | 12.5% to 32% | 1 to 3% | Up to 5 Lakhs | 1 to 5 Years | Apply Now |
| Incred Personal Loan | 12.5% to 32% | 1 to 3% | Up to 5 Lakhs | 1 to 5 Years | Apply Now |
Note: *The annual interest rate and processing fee will vary depending on the customer's risk profile and the tenure chosen.
Personal Loan in Chennai EMI Calculator
In a matter of seconds, a personal loan eligibility calculator helps to determine the eligibility. You can borrow between 1 lakh to 50 lakhs, based on eligibility requirements.
Personal Loan Eligibility in Chennai
Below are the eligibility criteria for salaried and self employed applicants, who are potentially eligible for Personal loan in Chennai.
| Criteria | Salaried | Self-Employed |
|---|---|---|
| Age (Primary applicant) | 23 years to 55 years | 23 years to 55 years |
| Citizenship | Must be a citizen of India | Must be a citizen of India |
| Net Monthly Income | ₹25,000 | ₹50,000 |
| Loan Tenure | Up to 5 years | Up to 5 years |
| CIBIL Score | Above 700 | Above 700 |
| Minimum Loan Amount | ₹ 1,00,000 | ₹ 1,00,000 |
| Maximum Loan Amount | ₹ 25 lakh | ₹ 30 lakh |
| Work Experience | Employed at current employer for 6 to 12 months. | Business tenure of 3 years (continuous) & ITR of last 3 years. |
Note: The eligibility criteria for instant personal loans varies from one bank to another.
What are the Documents Required for Personal Loan in Chennai?
The following list of documents are required when applying for a Personal Loan.
| Document | Salaried | Self-Employed |
|---|---|---|
| KYC Documents | PAN/Aadhaar/Passport/Driving License | PAN/Aadhaar/Passport/Driving License |
| Address Proof | Passport/Utility bills | Passport/Utility bills |
| Income Proof | 3 Months payslips (Latest) | Past two years audited financial statement |
| Bank Account Statement | Last 6 months Bank statement of salary account | |
| Employment Proof | EMP ID Card/Official Email Id | NA |
Note: Bankers may request additional documents depending on the requirements during the loan process.
Interest Rates for Personal Loan in Chennai 2025
You can always compare the Personal loan interest rates across the Banks and we believe that we can provide you with the lowest rates in the market.
| Chennai Personal Loan Details | |
|---|---|
| Interest Rate | 10.25% p.a onwards |
| Processing | Up to 2% of the loan amount |
| Loan tenure | 1 Year to 5 Years |
| Guarantor | Not required |
Note: The above mentioned interest rates are determined by Financial institutions and the rates may vary.
* Note: Wherever the details regarding interest rates, processing fees and tenure are mentioned, they may differ as per the lenders' discretion. The actual eligibility will be determined based on the borrowers' risk profile during the loan application process.
Personal Loan Chennai FAQs
What is the minimum salary required for a personal loan in Chennai?
The minimum salary required for a personal loan in Chennai usually starts from ₹25000. The minimum income requirement for self-employed may range between ₹1 Lakh to ₹2 Lakh (per annum).
What are the tenure options available for personal loans in Chennai?
The repayment tenure for a personal loan remains between 1 to 5 years.
How is the personal loan eligibility calculated in Chennai?
There are two criteria for personal loans used for determining your total loan amount:
Debt-to-income ratio: This ratio is your EMI pay-out divided by your total monthly income. Your DTI ratio should be well below 50% for high personal loan eligibility.
Monthly income method: Typically, you can get a loan of up to 30 times your monthly income.
Can I get an instant personal loan in Chennai?
Yes, you can get instant approval for a Personal Loan. Do note that this benefit is only available to applicants who meet all the personal loan eligibility requirements.
How much processing fee should I pay for a personal loan In Chennai?
A processing fee of 1 to 3.5% is deducted at the time of disbursal. If the loan amount is less than one lakh, a flat rate of ₹2999 is charged.