Bajaj Finance Limited in Chennai
Formerly known as Madras, Chennai is the capital city of Tamil Nadu and is located on the Coromandel Coast. It is one of the largest educational, economic and cultural centres of South India and among the most visited destinations by foreign tourists. Serving as the gateway to South India, Chennai is called the Health Capital of India for its healthcare facilities. It sees a large influx of medical tourists every year. The Chennai Metropolitan Area is one of India’s largest municipal economies and houses over one-third of the country’s automobile industry. Other industries include hardware manufacturing, computer technology and information technology.
Residents in Chennai can get finance from personal loan providers in Chennai at reasonable rates. Bajaj Finance Limited brings personalised benefits for eligible borrowers. Irrespective of where you are, stay updated about your loan application status, EMI due dates, upcoming payments, current outstanding and more through our customer portal - My Account.
Proceed to apply online now.
Features and benefits of personal loan in Chennai
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Repay easily
Select a repayment tenor ranging between 12 months and 96 months months and repay according to your financial capability.
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Transparent policy
Our terms and conditions are transparent with no hidden charges. Keep the cost of borrowing minimal.
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Loans up to Rs. 55 lakh
Opt for personal loans of up to Rs. 55 lakh against no collateral or security.
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Flexi loans
With the unique Flexi loan facility, repay comfortably and save up to 45%* on EMIs.
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Few documents
Minimum document requirement speeds up and simplifies the loan application process.
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Online account management
Access the loan account online and track all information through our customer portal - My Account.
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Fast approval
Fill the online application form to get the instant personal loan with quick approval.
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Receive funds in 24 hours*
Bajaj Finserv transfers the approved personal loan amount within 24 hours*. Receive the funds directly in your account.
*Conditions apply
Eligibility criteria for personal loan finance in Chennai
Qualify for high-value credit by meeting our simple personal loan eligibility criteria.
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Nationality
Indian, resident of India
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Employment
Must be a salaried employee at a reputed MNC or a private/ public limited company
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Credit score
Above 685
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Age
Between 21 years to 80 years*. 80 years* or younger, at the end of the loan tenure.
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Income
Minimum salary requirement is Rs. 35,000 per month. Refer to our eligibility page for other details
The online Bajaj Finserv Eligibility Calculator enables borrowers to apply for the appropriate amount and increases their chances of approval. Once you apply online, you can easily keep track of the application status on our app.
Documents required for personal loan finance in Chennai
The documentation requirements for a personal loan in Chennai can vary from lender to lender. Below are the documents that are required to be submitted when applying for a Bajaj Finance Personal Loan:
- KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register
- PAN card
- Employee ID card
- Salary slips of the last 3 months
- Bank account statements of the previous 3 months
Interest rates and charges on personal loan in Chennai
Bajaj Finance Limited offers low interest personal loans in Chennai. Evaluate your monthly outflows towards loan repayment based on the applicable interest rates and other fees. Check out the interest calculator to know the overall interest you will pay based on the loan amount, tenure, and interest rate.
Current Interest Rate on Personal Loans
Check the online interest calculator to find accurate repayment details based on the latest personal loan interest rate. It helps you plan better and choose the best loan option.
Type of fee |
Applicable charges |
Rate of interest |
10% to 31% p.a. |
Processing fees |
Up to 3.93% of the loan amount (inclusive of applicable taxes). |
| Flexi Facility Charge | Term Loan – Not applicable Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)
*All the Flexi charges above are inclusive of applicable taxes *Loan amount includes approved loan amount, insurance premium, and VAS charges. |
Bounce charges |
Rs. 700 - Rs. 1,200 per bounce. |
| Pre-payment charges | Full Prepayment
Part-prepayment
*Foreclosure will be processed post clearance of first EMI |
Penal charge |
Delay in payment of instalment(s) shall attract Penal Charge of Rs. 8 - Rs. 12 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Stamp duty (as per respective state) |
Payable as per state laws and deducted upfront from loan amount. |
Annual maintenance charges |
Term Loan: Not applicable Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure. |
| Broken period interest / Pre-monthly Instalment interest |
Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows: EMI Date : 2nd For Term Loan: BPI amount will be capitalised, i.e added to Principal amount on Due date / Deducted from disbursement EMI Date : 7th For Term Loan: BPI amount will be capitalised, i.e added to Principal amount on Due date / Deducted from disbursement Scenario 2: If Loan is disbursed between 7th and 10th of the month: |
Note: Additional cess if any, will be applicable to all charges according to state law.
*Terms and conditions apply.
How to apply for a Personal loan in Bangalore, Karnataka?
Step-by-step guide to apply for a personal loan
- Click on ‘APPLY’ at the top of this page to open our online personal loan application form.
- Enter your 10-digit mobile number and the OTP sent to your phone.
- Fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
- Now, click on PROCEED’ to visit the loan selection page.
- Enter the loan amount that you need.
- Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
- Complete your KYC and submit your application.
Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents
Conclusion
In conclusion, a personal loan in Bangalore is a convenient and flexible financial solution for various needs. Whether you need funds for education, medical expenses, or home renovations, there are options available to suit your requirements. Even if you have a low credit score, you can still avail of a personal loan for low CIBIL score in Bangalore. By meeting the eligibility criteria and providing the necessary documents, you can secure a loan with ease.
How to apply for a personal loan in Chennai
Here is a step-by-step guide to apply for personal loan online.
- Click on ‘APPLY’ at the top of this page to open our online personal loan application form.
- Enter your 10-digit mobile number and the OTP sent to your phone.
- Fill in the application form with your basic loan details, such as your full name, PAN, date of birth, and PIN code.
- Now, click on ‘PROCEED’ to visit the loan selection page.
- Enter the loan amount that you need.
- Choose the repayment tenure – you can select tenure options of 12 months to 96 months and click on ‘PROCEED’.
- Complete your KYC and submit your application.
Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents
Our Personal Loan branches in Chennai
Frequently asked questions
To get a personal loan in Chennai with a salary of Rs. 15,000, approach banks, NBFCs, or online lending platforms. Provide necessary documents like proof of income, address, and identity. Consider your credit score and existing debts. Online lenders may have different eligibility criteria, so compare options before applying.
To obtain a personal loan quickly in Chennai, consider online lenders for faster processing. Ensure you meet eligibility criteria, have required documents ready, and maintain a good credit score. Online platforms may offer instant approval and disbursal. Compare interest rates and terms to choose the most suitable option for your needs.
Several lending institutions in Chennai offer personal loans, including Bajaj Finserv. The best choice depends on your specific requirements, interest rates, and eligibility criteria. Compare offerings from various institutions to find the most suitable option.
The minimum income requirement to get a personal loan in Chennai will vary based on the lender.
You can get the Bajaj Finserv Personal Loan within 24 hours* of approval.
You need a CIBIL Score of 685 or above to get the Bajaj Finserv Personal Loan.
