Overview
Cholamandalam
Cholamandalam Home Loan offers competitive financing solutions with interest rates starting at 9.00% p.a., catering to a wide range of housing needs. With a flexible tenure of up to 30 years and loan amounts as high as ₹5 crores, it provides the financial support required for purchasing a new home, constructing a property, or undertaking renovations and extensions.
Rate of Interest
9.00%-15.00%
Loan to Value
80% - 90%
Loan Tenure
Max 30 years
Max Loan Amount
Upto 5cr
| Rate of Interest | 9.00%-15.00% |
| Loan Tenure | Max 30 years |
| Age | Salaried : 21 years - 65 years Self Employed : 21 years - 65 years |
| Profession | Salaried/Self Employed |
| Income | Metro Cities : 20,000/Month & Above Other Cities : 15,000/Month & Above |
| Nationality | Resident Indian/ NRI |
| Max Loan Amount | Upto 5cr |
| Plot Purchase | |
| Independent Building | |
| Apartment | |
| Resale Property | |
| New Construction | |
| LTV | 80% - 90% |
| Home Loan | |
| Plot Cum Construction Loan | |
| Balance Transfer | |
| Overdraft Facility | NO |
| Top Up Facility | |
| Other Offerings | Loan Agianst Property |
| Processing Fees | Up to Rs 5,000 (including GST) |
| Other Charges | 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. |
| Overdraft Facilities | - |
| Highlights | • Minimum Documentation • Personalised Doorstep Service • Fast track approval process • Balance Transfer with better interest rates |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 9.00%-15.00% |
| Monthly EMI | ₹ 44,986 - ₹ NaN |
Cholamandalam’s attractive interest rates and extensive loan offerings make it a reliable choice for aspiring homeowners seeking affordability and convenience.
Eligibility Criteria for Cholamandalam Home Loan
| Criteria | Salaried | Non- Salaried |
|---|---|---|
| Age Range | 21 to 65 years | 21 to 65 years |
| Nationality | Indian NRIs | Indian NRIs |
Calculate your home loan eligibility and unlock exclusive offers for you!
Cholamandalam Home Loan Interest Rates
Standard Home Loan Rates
| Salaried ROI | Self Employed ROI |
|---|---|
| 9.00% p.a onwards | 9.00% p.a onwards |
Get the best Home Loan interest rates tailored for you
If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
Cholamandalam Home Loan Processing Fee and Charges
Processing Charges
| Charge Type | Amount |
|---|---|
| Processing Fees | Up to Rs 5,000 (including GST) |
| 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. |
Cholamandalam Home Loan Documents
Identity Documents
| Doc Name | Salaried | Self Employed |
|---|---|---|
| PAN | ✔ | ✔ |
| Voter ID | ✔ | ✔ |
| Passport | ✔ | ✔ |
| Driving Licence | ✔ | ✔ |
| Aadhar Card | ✔ | ✔ |
Proof of Income
| Doc Name | Salaried | Self Employed |
|---|---|---|
| Form 16/ITR | ✔ | ✖ |
| 1 year bank account statements | ✔ | ✔ |
| Latest 3 months salary slip | ✔ | ✖ |
| Proof of business | ✖ | ✔ |
Cholamandalam Home Loan Schemes and Top Plans
Comparison
| Feature | Home Loan | Loan Against property |
|---|---|---|
| Minimum Loan Amount | 10lakhs onwards | 5lakhs onwards |
| Maximum Loan Amount | 5 crore | 7.5 crore |
| Interest Rate | 9.00% p.a onwards | 9.00% p.a onwards |
| Tenure | up to 30 years. | up to 15years |
| Eligible Applicants | salaried or self-employed | salaried or self-employed |
Details
Standard Home Loan
- Minimum Loan Amount: ₹10lakhs onwards*
- Maximum Loan Amount: up to ₹5 crore
- Interest Rate: 9.00% p.a. onwards
- Tenure: up to 30 years.
- Eligible Applicants: salaried or self-employed
Loan Against Property
- Minimum Loan Amount: ₹5lakhs onwards*
- Maximum Loan Amount: up to ₹7.5 crore
- Interest Rate: 9.00% p.a. onwards
- Tenure: up to 15 years.
- Eligible Applicants: salaried or self-employed
How to Apply
Applying for Cholamandalam Home Loan is a straightforward process:
1. Check Eligibility:
Verify that you meet the eligibility criteria for your selected loan product.
2. Collect Documents:
Gather all the required documents.
3. Visit a Local Branch:
Visit your nearest Cholamandalam branch and fill out the application form.
4. Submit Documents:
Submit your application along with the required documents.
5. Application Review:
The bank will review your application and documents.
6. Loan Approval:
Upon approval, your loan will be sanctioned, and you can start your homeownership journey.
Do not want to get into this hassle? Get Cholamandalam Bank’s best rates in a single call.
Customer Care Details: Cholamandalam Bank
Jana Small Finance Bank offers comprehensive customer care services to address the queries and concerns of its customers efficiently.
| Contact | Contact Details |
|---|---|
| Cholamandalam Bank Head Office | Regional Office – Chennai Reserve Bank of India Fort Glacis, No.16, Rajaji Salai Chennai 600 001 |
| Toll Free Number (24 *7) | 044- 2539 9189 |
| Email ID | customercare@chola.murugappa.com |
Comparison
For detailed comparison between top banks you can visit our compare banks page.
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Cholamandalam provides home loans with a limit of up to ₹5 crores, giving borrowers flexibility for various property purposes.
Yes, Cholamandalam Home Finance is approved by the Reserve Bank of India (RBI) as a registered housing finance company. It operates under the regulations set by the RBI.
Cholamandalam Financial Holdings Limited (CFHL), formerly TI Financial Holdings, was founded in 1949 and is part of the Murugappa Group, a leading Indian business conglomerate.
Cholamandalam Financial Holdings Limited is owned by the Murugappa Group, one of India’s leading diversified business conglomerates. The company operates under the group’s extensive portfolio of businesses.