🇮🇳 India

Cholamandalam Last updated2026-05-28

Cholamandalam EMI Calculator 2026 rates.

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Quick answer

Cholamandalam home loan rate starts at 9.5% (typical 11.5%) as of 2026. A ₹50 lakh loan at 11.5% over 20 years = an EMI of approximately ₹53,321/month.

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EMI Calculator

Live

Loan Amount

₹

₹25.00 L

Interest Rate (p.a.)

Tenure (years)

Monthly EMI

₹21,696

/month

Total Interest

₹27.07 L

52% of total

Total Payable

₹52.07 L

over 20 years

Principal vs Interest Split

48% principal

52% interest

✨ Live · For home, personal, auto, education loans · Excludes processing fees

📊 Current rates

Cholamandalam loan rates (May 2026)

🏠 Home Loan

9.5–14.5%

typical: 11.5% p.a.

💵 Personal Loan

12.5–24%

typical: 15.5% p.a.

🚗 Car Loan

9–16%

typical: 11.5% p.a.

💳 Processing Fee

1.5% of loan amount (capped at Rs. 30000)

🔁 Prepayment

Zero foreclosure charges on floating-rate home loans per RBI guidelines. 2-5% charges on fixed-rate, vehicle, and personal loans in early tenure, reducing over time.

About Cholamandalam

Why choose Cholamandalam?

Cholamandalam Investment and Finance (Chola) is the financial services flagship of the Murugappa Group, with AUM crossing Rs. 1.5 lakh crore in FY24. It has expanded aggressively from its core vehicle finance business into home loans, LAP, SME loans, and consumer loans. Chola is known for strong asset quality and tier-2/3 city penetration.

🎯 Unique angle

Product highlights

✓ vehicle finance customers
✓ self-employed
✓ LAP borrowers
✓ SME owners

❓ Cholamandalam FAQ

Common questions.

Who should apply for a Cholamandalam loan?

Chola is best for self-employed individuals, small business owners, and vehicle buyers in tier-2/3 cities. Their underwriting is more flexible than banks for non-ITR customers, and they offer competitive rates for used vehicle and LAP segments.

How does Cholamandalam compare to banks?

Chola charges 100-250 basis points higher than top banks but offers faster approval (3-5 days vs 7-10 days) and accepts informal income proofs. Their vehicle finance arm is among India's top 3, with strong dealer relationships ensuring quick disbursal.

What is the eligibility for Cholamandalam loans?

Minimum age 21, maximum 65 at loan maturity. Salaried need Rs. 25,000+ monthly income; self-employed need 2-3 years business vintage. CIBIL above 700 preferred. For home loans, property documents and 20% down payment are mandatory.

What is Chola's prepayment policy?

Floating rate home loans have zero prepayment charges as per RBI rules. Vehicle and personal loans attract 3-5% foreclosure charges in the first 12 months, reducing thereafter. Partial prepayments allowed without penalty after 6 EMIs.

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