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Disclaimer: Cholamandalam is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Cholamandalam for home loans. No offers/services from Cholamandalam are being provided by Paisabazaar for home loans. For further information about Cholamandalam for home loans, users are required to reach out directly to Cholamandalam.
Cholamandalam Home Loan Highlights
| Particulars | Details |
| Interest Rates | Depends on the applicant’s credit profile |
| Sourcing and Processing Charges | Up to Rs 5,000 (including GST) |
Note: Interest rates as on 11 November 2024
Table of Contents
Cholamandalam Home Loan Interest Rates
Cholamandalam has not disclosed the interest rates for home loan. The lender may consider the credit score, monthly income, employment profile, employer’s profile, loan amount, etc. of its home loan applicants while setting their home loan interest rates, just like many lenders do. The home loan interest rates offered by the housing finance company are floating, fixed and partially fixed partially floating in nature.
Compare Home Loan Interest Rates for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Apply Now |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.50% - 10.35% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Apply for Home Loan at Attractive Interest Rates Click Here
Cholamandalam Home Loan Fees and Charges
Below-mentioned are the processing fees and other charges related to the home loan.
Chola Housing Loan Processing Fees
| Particulars | Rates |
| Sourcing and Processing Charges | Up to Rs 5,000 (including GST) |
| Admin Fees | Up to 2% of loan amount |
Chola Home Loan Prepayment Fees
Preclosure Charges
- For floating interest home rate loans: Nil
- For fixed interest rate home loans: 2% of the part payment
Part Payment Fees
- For floating interest rate home loans: Nil
- For fixed interest rate home loans: 2% of the amount paid for preclosure, if paid through own funds and 4% of the amount paid towards preclosure, if paid through balance transfer of the home loan
Other Charges for Cholamandalam Home Loans
| Particulars | Rates |
| Statement of Accounts | Rs 500 plus GST |
| Swapping Charges | Rs 500 plus GST |
| Duplicate No Objection Certificate (NOC) | Rs 500 plus GST |
| Interest rate reset | 2% of the principal outstanding |
| Switch fees for interest rate type change | 1% of principal outstanding |
| Penal Charges | – In case of delay in the payment of installments: 36% per annum on the unpaid amount
– For other event(s) of default: 24% per annum on the amounts outstanding |
Documents Required for Cholamandalam Home Loan
Below-mentioned are the lists of documents required for home loan for identity proof as well as address proof.
Identity Proof
- Passport
- Voter ID card
- PAN card
- Driving License
- Ration card with photo
- Bank pass book (with attested photo) and bank statement (past 6 months)
- Pensioner ID Copy
- Employee photo ID card (issued by the Govt.)
- ESIC medical cards (with photo)
- Registered property documents (with photograph)
- Any other govt. issued ID proofs (like post office ID card)
- Aadhaar Card
- Pay slip of last 3 months – for salaried applicants
- Form 16 (Last 2 years)
- Certification of Incorporation or other incorporation documents – for business
- Shops and Establishment Act certificate
- Certificate for Sales tax registration
- Memorandum of Association/Articles of Association with registration certificate
- Registered Partnership Deed
Address Proof
- Passport
- Voter ID card
- Driving License
- Latest Property Tax receipt (not older than 6 months)
- Ration card
- Latest Telephone Bill – mobile or landline postpaid bills (not older than 6 months)
- Latest Utility bills like Electricity bill, Gas bill or New Gas card (not older than 6 months)
- Latest Bank statement (not older than 6 months)
- Registered property documents
- Any other govt. issued address proofs (like post office address/ID card issued by govt. companies and PSUs)
- Registered Lease Deed (along with utility bill) in landlord’s name
- Aadhaar Card
- Certification of Incorporation or other incorporation documents – for business
- Shops and Establishment Act certificate
- Certificate for Sales tax registration
Eligibility for availing Cholamandalam Home Loan
Both salaried and self-employed professionals are eligible to apply for Cholamandalam Home Loan.
Click Here: To know more about Home Loan eligibility
Cholamandalam Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395