Chola Car Loan

• Competitive interest rates
• High loan-to-value ratio
• Quick and hassle-free loan processing
• Flexible repayment tenure up to 7 years
• Customized EMI options to suit the borrower's needs
• Minimal documentation required for loan processing

• High loan-to-value ratio
• Flexible repayment tenure up to 7 years
• Attractive interest rates
• Minimal documentation
• Quick loan processing and disbursal
• Customized EMI options

• Filled application form
• Identity proof (Aadhaar Card, Passport, Voter ID, Driving License, etc.)
• Address proof (Aadhaar Card, Passport, Voter ID, Driving License, Utility Bill, etc.)
• Income proof (Salary slips, ITR, Bank statements, etc.)
• Photographs
• Car quotation or proforma invoice

1.What is a Chola car loan? 

Chola car loan is a type of loan offered by Cholamandalam Investment and Finance Company (Chola) for the purchase of a new or used car. The loan amount can be used to buy a car from any authorized dealer in India.

2.Who is eligible for a Chola car loan? 

Individuals who are 21 years or older and have a regular source of income can apply for a Chola car loan. The loan is also available for self-employed individuals and partnership firms.

3.What is the maximum loan amount offered by Chola for a car loan? 

Chola offers car loans ranging from Rs. 1 lakh to Rs. 1 crore depending on the customer's income, credit history, and other factors.

4.What is the loan tenure offered by Chola for a car loan? 

Chola car loans can be availed for a tenure ranging from 1 year to 7 years, depending on the customer's repayment capacity.

5.What is the interest rate charged by Chola for a car loan? 

The interest rate charged by Chola for a car loan depends on several factors, including the loan amount, tenure, credit score, and the type of car being purchased.

6.What is the processing fee for a Chola car loan? 

The processing fee for a Chola car loan varies from 1% to 3% of the loan amount, depending on the loan amount and other factors.

7.What documents are required to apply for a Chola car loan? 

The documents required to apply for a Chola car loan include identity proof, address proof, income proof, and documents related to the car being purchased.

8.How long does it take to get a Chola car loan approved?

Chola car loans are typically approved within 48 hours, subject to the submission of all required documents and verification of the customer's eligibility.

9.Can I prepay my Chola car loan? 

Yes, you can prepay your Chola car loan after a certain period of time. Chola levies a prepayment charge if the loan is prepaid before the completion of the minimum lock-in period.

10.How can I apply for a Chola car loan? 

You can apply for a Chola car loan online by visiting the company's website or by visiting any of its branches in India. You can also apply for a car loan by calling the customer care number provided on the website.