Chola One: Digital Lending App

Cholamandalam Investment & Finance Company Limited

About this app

Cholamandalam Investment and Finance Company Limited (Chola), incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, Loan Against Property, SME loans, investment advisory services, stock broking and a variety of other financial services to customers. Chola operates from 1098 branches across India.
 
The loan process is 100% online with no paper work and easy loan process. You can get your loan hassle-free in just a few simple steps.
 
We regularly update our loan app with new features and latest interest rates, so you can be sure that you're getting a good deal with the Chola one. Our New instant loan app 2024 is designed to make it easy for you to get the financial support you need quickly. Chola One will ask you to undergo a loan eligibility check, which considers factors such as your CIBIL score, bank statement, payslip and other financial information.
 
Chola One enables existing customers to access all their loan account related information like Loan summary, Loan details, Payment options, Repayment history, Payment acknowledgement, Loan Info section coupled with the flexibility to request for drawdown, Statements of accounts and more. Features like profile management, service request, notification make managing your loans an extremely easy task.
 
The Chola One is one stop shop for all the informational and transactional services related to CSEL Overdraft (OD) Personal Loan and Business Loans, SBPL Loan, Home Loan and Loan Against Property Loan.
Chola One - Personal Loan Features:
✅Online personal loans from ₹ 10000 to ₹ 3 Lakh
✅Interest Rates: Starting from 14% - 36% P.A**
✅Processing fee: 4% - 6%
✅Loan Tenure: 3 Months to 60 Months
✅APR: 14.5% - 45%
✅100% Online Process
✅No Physical Documents are required
 
Minimum/maximum Period for Repayment: 3 / 60 Months respectively
Minimum/maximum Annual Percentage Rate (APR): 14.5% - 45% respectively

A representative Personal Loan Example:

If a user requests for a loan of 300000 with a tenure of 60 months then below would be the representative example for the loan.

Cost of the Loan: 300000
Tenure: 60 Months
ROI: 18%
APR: 20.97 %
Charge Amount: INR 10,846.00
Repayment Frequency: Monthly
Repayment Type: Principal and Interest

Who is eligible for Personal Loan?
✅Salaried, Professionals (CA, CS, CMA, and Doctors) and, Self Employed ( Sole Proprietor Business Owners)
✅Existing Chola customers: 21yrs to 65yrs
✅New to Chola customers: 21yrs to 58yrs
✅Minimum household income: Rs. 3,00,000 p.a
 
Chola One - Top Up Home Loan Features:
Chola is committed towards the National Mission of Housing for All by 2022. The documentation required is also minimal. (Income proof or existing CIBIL score is not a mandatory requirement). More info is available on the app.
Types of Home Loans
• Self-Construction Loans
• Loans for Purchase of Resale Flat/Independent Houses
• Loans for Purchase of New Flat/Independent House
• Loans for Mixed-Use (Residential with small commercial unit)
• Home-Extension Loans
• Balance Transfer of Existing Loans from other financiers with Top up loans
Features & Benefits
✅ Minimum Documentation
✅ ITR/Cibil Score not mandatory
✅ Customised Eligibility for Salaried and Self Employed
✅ For both Residential and Commercial use
✅ Home loans typically have a maximum tenure of 30 years and a minimum tenure of 5 years.
For Customer Queries?

Mail us: [e-mail] for Home Loan
Mail us: [e-mail] for Loan Against Property Loan
Mail us: [e-mail] for Consumer and Small Enterprise Loan & Personal Loan
Mail us: [e-mail] for Secured Business & Personal Loan
Call us: 18001024565

Corporate Office:

CIFCL,Chola Crest, C54-55 & Super B-4,
Thiru-Vi-Ka Industrial Estate, Guindy,
Chennai - 600032.

Ratings and reviews

I was pre-approved for a loan and went through the process of applying, submitting all my documents, and completing everything as required. I received multiple phone calls confirming that my loan was approved successfully. However, despite these confirmations, no cash has been credited to my account(account verify 1 inr credited only). This has happened twice now, once last month and again this month, with the same result. It’s incredibly frustrating and, at this point, feels like a scam. Why is

This is completely wrong. You are still asking for autopay even though I have autopay set up. I think they are committing fraud because the loan has not been sanctioned and AutoPay 2 has been set up and is not getting deleted now.

Worst experience! I have already paid the complete foreclosure amount and cleared all my loan dues (₹0.00 balance), but they have still not released my Samsung Knox Lock for the last 4 days. Loan status is not updating and customer support is completely unhelpful. Unprofessional service, do not trust this app!

What’s new

Thanks for using Chola One! We update our app regularly for a easy lending experience. Enjoy ease navigation and loan management with our bug fixes making user experience easier than ever.