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Pre-loan Eligibility checker
Last updated on: July 22, 2025
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Read BioCholamandalam Finance offers personal loans designed to cater to a variety of financial needs, with flexible eligibility criteria to accommodate different income and employment types. Known for customer-centric policies and fast approval processes, Cholamandalam makes it easier for you to achieve your financial goals quickly and efficiently.
| Eligibility Criteria | Requirement |
|---|---|
| Age | 21 - 60 years |
| Documents Required | Last three months’ salary slip, Bank Statement, KYC Documents |
| Minimum Work Experience | 1 year of work experience |
| Minimum Salary | ₹20,000 per month |
| Credit Score | 750+ |
| Loan Amount | Up to ₹35 Lakhs |
| Maximum Tenure | 60 months |
| Transaction | Charges (in ₹) |
|---|---|
| Loan Processing | Up to 2% of the loan amount |
| Cheque Return Charges | ₹750 |
| Duplicate Statement | ₹200 |
| NOC Issuance | ₹500 |
| Loan Cancellation | 4% of the loan disbursed + taxes |
| Foreclosure Charges | 4% of the Principal outstanding amount + GST |
1. Does one need a high credit score for approval?
In particular, having credit score above 750 is advantageous and is likely to help receive a faster approval and a better interest rate; however, the applicants with credit score slightly lower than this can also get a loan
2. What are the documents to be used for proving the income?
Recent payslip and bank statements of the applicants those who are salaried persons are required, ITRs and business financials of the self-employed persons are also required.
3. What professionals are allowed to get Cholamandalam Personal Loan
Doctors (MBBS, BMS, and above) and chartered accountants can get personal loan
4. What is the maximum loan amount that I can get through Cholamandalam finance?
Cholamandalam Finance helps you to get personal loan upto 35 Lakhs
5. What is the time taken to process personal loans?
As for Cholamandalam Finance’s efficiency, it is for personal loans can take 3-5 working days to be processed and disbursed which also allows people to get money quickly.
Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.
Prem Anand is a seasoned content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors. He has a strong command of industry-specific language and compliance regulations. He specializes in writing insightful blog posts, detailed articles, and content that educates and engages the Indian audience.
The content is prepared by thoroughly researching multiple trustworthy sources such as official websites, financial portals, customer reviews, policy documents and IRDAI guidelines. The goal is to bring accurate and reader-friendly insights.
This content is created to help readers make informed decisions. It aims to simplify complex insurance and finance topics so that you can understand your options clearly and take the right steps with confidence. Every article is written keeping transparency, clarity, and trust in mind.
Based on Google's Helpful Content System, this article emphasizes user value, transparency, and accuracy. It incorporates principles of E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness).
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