Cholamandalam Home Loan

Cholamandalam Investment and Finance Company Limited is a financial services provider company. Known for its presence in various sectors of financing, it offers the Chola Home Loan, a feature-laden offering. Use this provision to construct a home, buy a ready-to-occupy home or opt for the balance transfer provision. 

By using the Home Loan EMI calculator on Bajaj Markets, you can understand the monthly payable amount before applying. 

Chola offers home loans with interest rates starting from 9% per annum. The company provides floating interest rates on all home loans. Here is a quick overview of the loan:

Disclaimer: The interest rates mentioned are subject to change at the lender’s discretion.

The Chola Finance Home Loan interest rates are among the more attractive offers in the market. As such, you can get funds on affordable terms and own the home of your dreams. Given below are the specifics of the Chola Home Loan rates:

Disclaimer: The interest rates mentioned are subject to change at the lender’s discretion.

You can refer to the table below to compare Chola Home Loan interest rates with other lenders. This helps you make an informed financial decision and choose the best option for you.

Disclaimer: The Interest rates mentioned are subject to change at the lenders’ discretion.

Chola Home Finance is one of the best options out there if you require a home loan with a simple application process. However, it is essential to remember that planning for a home loan is an important decision. 

A home loan EMI calculator can assist you in calculating your EMI within minutes. An EMI calculator is a digital tool you can use to calculate your EMIs. To get started, simply enter the following information: 

• Home loan amount

• Interest rate

• Tenure

Once done, the calculator automatically computes and displays accurate estimates. You can use the EMI calculator below or by visiting the website:

The Chola Home Loan has many features and benefits, making it a smart option for many borrowers. These benefits include:

• Multiple loan options

• Low Interest rates

• Simple application process

• Low processing fees

• Quick loan approval

• Low service charges

• Minimal documentation requirements

• Loan transfer facility

While the eligibility criteria for a Chola Housing Loan is fairly lenient, ensure that to meet all the terms to have the best chance at approval. Here are the requirements to know: 

• Age of Applicant: You must be between 21 years and 65 years of age

• Income of Applicant and Co-Applicant: You must meet the minimum income requirements for your city

• Credit report and credit score: Your credit score must be 750 or higher

• Nationality and Residence: You must be an Indian citizen or resident

Aside from these requirements, the lender may also mention other terms at the time of application. As such, it is best to contact a branch to know the latest requirements before applying.

Knowing the Chola Home Loan documents is key to successfully applying for a Chola Bank Home Loan. Here are the documents you will need:

Mandatory Documents for All Applicants:

• Filled loan application form

• Passport-size photographs

• Identity Proof: (Any one of the following)

• Aadhaar card

• Passport

• Voter ID

• PAN card

• Ration card

• Driving licence

• Address Proof: (Any one of the following)

• Aadhaar card

• Passport

• Voter ID

• PAN card

• Ration card

• Driving licence

Salaried Applicants:

• Appointment letter

• Pay slips for the last 3 months

• Credit statement for last 1 year

• Employee ID

• Property documents

Self-employed Applicants:

• Business Proof- business incorporation details/VAT registration/Business address proof

• Balance sheet and Profit and loss statement (certified by CA)

• Partnership deed

• Property documents

As a borrower, there are several Chola Home Finance options based on your needs. Some of the home loan types under the Chola Home Loan are:

• Self-construction

• Home expansion or extension

• Purchase or resale

• Purchase a new home from a developer

• Shop loan

• Balance transfer

Getting a Chola Home Loan is easy, and it has a simplified process. Follow the given steps to apply for a home loan:

1. Visit the official Chola webpage and go to ‘Home Loan’

2. Click on ‘Apply Loan’

3. Enter your mobile number and click on ‘Apply Now’

4. Type in the OTP sent on the mobile number

5. Complete the formalities

6. Wait for loan processing 

7. Get approval and proceed with Legal and other checks

8. Authorise disbursal

In addition to the interest rate, you also need to pay some other fees and charges based on the condition. For instance:

Disclaimer: The charges mentioned above are subject to change at the lender’s discretion.

Chola offers customer support over the telephone, SMS and email. Here are the details:

• Website: www.cholamandalam.com

• Email: customercare@chola.murugappa.com

• Contact number (call): 1800-102-4565

• Contact number (SMS): 9500000312

You can also visit the corporate office at the following address:

• Corporate Office: Cholamandalam Investment and Finance Company Limited (CIFCL), Chola Crest, C54-55 & Super B-4, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai - 600032