Disclaimer: Cholamandalam Investment and Finance Company Limited is not a Paisabazaar partner for personal loans and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Cholamandalam Investment and Finance Company Limited for personal loans. No offers/services from Cholamandalam Investment and Finance Company Limited are being provided by Paisabazaar for personal loans. For further information about Cholamandalam Investment and Finance Company Limited for personal loans, users are required to reach out directly to Cholamandalam Investment and Finance Company Limited.
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Cholamandalam Personal Loan Highlights |
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| Interest Rate | 10%-28% p.a. |
| Loan Amount | Up to Rs 35 lakh |
| Tenure | Up to 5 years |
| Processing Fees | Up to 2% of loan amount |
Rates as of 4th November 2024
Apply for Personal Loan from Paisabazaar Partners
HDFC Bank
Up to ₹40L
10.85% - 24%
Upto 6 Years
₹6,500
Axis Bank
Up to ₹10L
11.25% - 22%
Upto 5 Years
Upto 2%
Kotak Mahindra Bank
Up to ₹40L
10.99% - 36%
Upto 6 Years
Upto 3%
IDFC First Bank
Up to ₹10L
10.99% - 23.99%
Upto 5 Years
Upto 2%
ICICI Bank
Up to ₹50L
10.85% - 16.25%
1-6 Years
Upto 2%
*Applicable for selected customers
Check Personal Loan Interest Rates offered by Various Lenders Click Here
Cholamandalam Personal Loan Interest Rates
| Products | Interest Rate (p.a.) |
| Personal Loan (Salaried and Professional)- Term Loan | 10%-28% |
| Personal Loan (Salaried and Professional)- Drop Line Flexi Loan | 10%-28% |
Types of Cholamandalam Personal Loan
Cholamandalam Instant Personal Loan
Purpose: Cholamandalam offers Instant Personal Loan to salaried/professionals/self-employed individuals through its Chola One app. The lender claims to disburse the loan in just 15 minutes of loan approval.
Cholamandalam Personal Loan for Salaried Employees
Purpose: Cholamandalam offers “Personal Loan for Salaried Employees” with quick loan processing and paperless digital approval process to meet their personal requirements of salaried individuals.
Loan Amount: Up to Rs 35 lakh
Tenure: Up to 5 years
Cholamandalam Personal Loan for Self-employed Professionals
Purpose: Cholamandalam offers “Personal Loan for Self-employed Professionals” to fulfill the personal requirements of self-employed professionals.
Loan Amount: Up to Rs 35 lakh
Tenure: Up to 5 years
Eligibility Criteria for Cholamandalam Personal Loan
Eligibility Criteria for Instant Personal Loan through Chola One app:
- Nationality- Indian citizen
- Age- 23 years (at the time of loan application) and 65 years (at the time of loan maturity)
- Monthly income- Above Rs 10,000
Check your Eligibility Criteria for availing Personal Loans Click Here
Documents Required for availing Cholamandalam Personal Loan
Documents required for availing Cholamandalam Instant Personal Loan:
- ID Proof- PAN card, Aadhaar card
- Bank account details
- Registration information/Educational proof for professionals
- Business proof (GST/ITRs/IEC/FSSAI) for self-employed
Cholamandalam Personal Loan Fees and Charges
| Particulars | Charges |
| Processing Fees | Up to 2% of loan amount |
| Foreclosure Charges | Up to 4% of outstanding principal |
| Document Fees | Up to Rs 1800 |
| AMC | Up to 1% of total credit limit |
| Mandate rejection charges | Up to Rs 500 |
| Swap Charges | Up to Rs 500 |
| Physical repayment schedule charges | Up to Rs 500 |
| Duplicate NOC | Up to Rs 1,000 |
| Cheque bounce charges | Up to Rs 1,000 |
| Additional interest | Not exceeding 36% per annum on the amount outstanding from the due date to the date of actual payment. |