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.

Residents in Chennai can get finance from personal loan providers in Chennai at reasonable rates. Bajaj Finance Limited brings personalised benefits for eligible borrowers.

Proceed to apply online now.

Features and benefits of personal loan in Chennai

  • Repay easily

    Repay easily

    Select a repayment tenor ranging between 6 months and 96 months months and repay according to your financial capability.

  • Transparent policy

    Transparent policy

    Our terms and conditions are transparent with no hidden charges. Keep the cost of borrowing minimal.

  • Loans up to Rs. 40 lakh

    Loans up to Rs. 40 lakh

    Opt for personal loans of up to Rs. 40 lakh against no collateral or security.

  • Flexi loans

    Flexi loans

    With the unique Flexi loan facility, repay comfortably and save up to 45%* on EMIs.

  • Few documents

    Few documents

    Minimum document requirement speeds up and simplifies the loan application process.

  • Online account management

    Online account management

    Access the loan account online and track all information through our customer portal - My Account.

  • Fast approval

    Fast approval

    Fill the online application form to get instant loan approval post submission on our personal loan finance in Chennai.

  • Receive funds in 24 hours*

    Receive funds in 24 hours*

    Bajaj Finserv transfers the approved personal loan amount within 24 hours*. Receive the funds directly in your account.

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 of Chennai can address their monetary needs effectively by availing of a Bajaj Finserv Personal Loan of up to Rs. 40 lakh. Once approved, the money gets transferred to your bank account within 24 hours*. 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.

*Conditions apply

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Eligibility criteria for personal loan finance in Chennai

Qualify for high-value credit by meeting our simple personal loan eligibility criteria.

  • Nationality

    Nationality

    Indian, resident of India

  • Employment

    Employment

    Must be a salaried employee at a reputed MNC or a private/ public limited company

  • Credit score

    Credit score

    Above 685

  • Age

    Age

    Between 21 years to 80 years*. 80 years* or younger, at the end of the loan tenure.

  • Income

    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.

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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

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.

Personal loan interest rates and applicable charges

Type of fee

Applicable charges

Rate of interest

11% to 35% p.a.

Processing fees

Up to 3.93% of the loan amount (inclusive of applicable taxes).

Flexi Fee

Term Loan – Not applicable

Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)

  • Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000
  • Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999
  • Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999
  • Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 9,99,999
  • Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999
  • Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999
  • Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999
  • Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999
  • Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above

*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.
“Bounce charges” shall mean charges for non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason

Pre-payment charges

Full Prepayment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as of the date of full prepayment.

Part-prepayment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of the loan prepaid on the date of such part-prepayment.
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid.

*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

"Broken Period Interest/Pre-monthly Instalment interest" shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:

Scenario 1 - Over and above the period of 30 days from the date of disbursement of the Loan:

Method of recovery of Broken Period Interest/Pre-monthly Instalment interest:

  • For Term Loan: Deduct from disbursement or added in first EMI, as applicable.
  • For Flexi Term Loan: Added to first instalment amount
  • For Hybrid Flexi Loan: Added to first instalment amount

Scenario 2: Less than period of 30 days from the date of disbursement of the Loan:

Interest on first instalment will be charged for actual number of days.

Switch fee Up to 1.18% of the loan amount (inclusive of applicable taxes).
Switch fee is applicable only in case of switch of loan. In switch cases, processing fees will not be applicable.
Cash collection handling charges Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs.
Cash deposit charges Customers will incur a cash deposition charge of Rs. 50 (inclusive of applicable taxes) when making cash payments at our branch offices.
PG facility charges Rs. 11 (inclusive of applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties.

Note: Additional cess if any, will be applicable to all charges according to state law.

*Terms and conditions apply.

For Micro Finance Loans, please note below:
Purchase of any non-credit product by the microfinance borrowers is purely on a voluntary basis. Minimum interest, maximum interest, and average interest are 13%, 35%, and 35.40% per annum respectively. Part-prepayment and foreclosure charges are NIL. {Average interest rate is higher than max interest rate, because maximum interest rates was reduced effective 02 May 2024 however average interest rate is computed on a volume weighted basis for last quarter (Apr'24 - Jun'24)}

Frequently asked questions

How can I get a personal loan in Chennai if my salary is Rs. 15,000?

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.

How to get a personal loan immediately in Chennai?

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.

Which is the best lending institute in Chennai for personal loans?

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.