Personal Loans ranging from Rs.25K to Rs.25L with a tenure starting from 6 months.
35
Banks / NBFCs
20K
Customers
18
Months in Operations
Personal loans in Chennai are provided by a lot of financial institutions and NBFCs at a decent interest rate with the loan amount ranging from Rs. 25,000 to Rs. 25 Lakhs and a tenure period of one to five years. A personal loan does not require you to provide an asset as collateral as it is a type of unsecured loan. Personal loans in Chennai are best suited for times of contingencies as the loan is provided instantly. Minimal documentation and processing time is taken for the loan approval process. Also, personal loans can help you save up some amount as the interest rates are lower than most forms of debt such as credit cards.
Usually, a personal loan is obtained for various purposes such as paying off medical bills, home renovation, wedding expenses, personal durable goods and travel expenses. You can use a personal loan if you want to pay off multiple unpaid loans by opting for debt consolidation or balance transfer.
Chennai, also known as the “Detroit of South Asia” is famous for its automobile industry. It is the educational and cultural hub of South India. The city been exposed to the cosmopolitan glamour and hustle bustle of city life in the recent years. The city has a large number of financial institutions and is the home to national level commercial bank.
For obtaining a personal loan with ease, certain requirements such as a decent credit history, adequate monthly salary and minimum age are important. After you apply for a personal loan, your credit report containing your credit history and your final credit score is reviewed by the lender. Thus, if you have a good credit history, lenders would give you a personal loan at low-interest rates and vice versa.
It is best to carry out detailed research and gather relevant information before taking a personal loan. The interest rates, processing fees, flexibility of tenure and pre-payment charges should be compared and the best option should be chosen. Many people fall into the trap of borrowing from private lenders who charge a very high rate of interest. At times, the interest rates can go as high as 30%. It is advisable to turn to online lending platforms as the loans are provided at lower interest rates at these platforms. To get the best deal without going through a lot of trouble, online lending platforms such as IndiaLends.com are a good option. Applying for a personal loan online is convenient as most of the work is done by the online platform. When you apply online, your application is sent to banks and NBFCs according to your profile who make a lending decision after reviewing your application. Moreover, online platforms like IndiaLends operate without charging any extra fees or attached hidden costs.
A Personal loan is a form of credit offered by financial institutions for the borrower’s personal use.
It is an unsecured loan and doesn’t require collateral as security or a guarantor to avail the loan.
*The figures provided in the table are indicative subject to change from time.
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Good Credit Score
Above 21 years of Age
Salaried professional
Resident of India
Valid Bank Account
PAN Card and Voter ID Card/Driving License
Bank Statements for the last three months
Salary Slip for last three months
Personal Loans in Chennai Reviews
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Rajiv Sachdeva
IndiaLends is a complete lending solution. I downloaded their IndiaLends app, which is free of cost, to apply for Personal Loan and check my credit score.
5.0
Ritu Gupta
IndiaLends provides great service. They are fast and it is really safe to share your personal information with them while applying for personal loan.
5.0
Pinki Rani
IndiaLends helped me to find the right personal loan for myself. It was pretty good to be in touch with their customer support team.
4.0
Rajesh Yadav
A great site to know and improve your credit health. I was able to improve my CIBIL score by 100 points in just a year. I would recommend others to download their app and check their site for further financial information.
3.0