Chola Consumer Loan

Cholamandalam Investment & Finance Company Limited

About this app

The Chola Consumer Loan App is a one stop shop for all the informational and transactional services related to CSEL Overdraft (OD) Personal Loan and Business Loan. The app offers a wide range of services for existing customers as well as prospective customers. The app is quick, easy and convenient to use.

The Chola Consumer Loan App enables existing customers to access all their loan account related information like Loan summary, Loan details, Repayment 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 Consumer Loan App is an offering from 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.

Minimum and maximum period for repayment:
- Minimum Tenor = 12 Months
- Maximum Tenor = 60 Months

Maximum Annual Percentage Rate (APR):
- Maximum Rate is 25%

Representative example of the total cost of the loan, including the principal and all applicable fees (e.g. sample monthly payment, sample interest calculation):

Example:
- Loan Amount - Rs.20 Lakhs
- Tenure - 60 Months
- Rate of Interest - 18%
- Monthly EMI - Rs.50787
- Total Repayment - Rs. 3058203

Whether the full repayment period can be less than 60 Days?
- No. The minimum repayment period is 12 months