Chola One: Digital Lending App 0.0.21

Cholamandalam Investment and Finance Company Limited (Chola), established in 1978 as the financial services division of the Murugappa Group, has evolved from an equipment financing company to a comprehensive financial services provider. Today, Chola offers a wide range of financial products including vehicle finance, home loans, Loan Against Property, SME loans, investment advisory services, stock broking, and various other financial solutions to customers. With 1098 branches spread across India, Chola caters to a diverse clientele.

The loan application process at Chola is entirely online, eliminating the need for paperwork and streamlining the loan process. Customers can obtain loans effortlessly through a few simple steps.

Chola maintains its loan app diligently updated with new features and current interest rates, ensuring customers receive competitive deals. The new instant loan app 2024 is designed for swift access to necessary financial support. The Chola One platform conducts a thorough loan eligibility evaluation based on factors such as CIBIL score, bank statements, payslips, and other financial specifics.

Chola One grants existing customers access to comprehensive information regarding their loan accounts, including loan summaries, details, payment options, repayment history, payment acknowledgements, and more. Further highlighted by features like profile management, service requests, and notifications, the platform simplifies loan management tasks.

Functioning as a centralized hub for informational and transactional services related to various loans such as CSEL Overdraft (OD) Personal Loan and Business Loans, SBPL Loan, Home Loan as well as Loan Against Property Loan, Chola One serves as a versatile financial resource.

Chola One - Personal Loan Features:

• Online personal loans from ₹ 10,000 to ₹ 3 lakh
• Interest Rates: Starting from 14% - 36% P.A
• Processing Fee: 4% - 6%
• Loan Tenure: 3 months to 36 months
• APR: 14.5% - 45%
• 100% Online Process
• No Physical Documents Required

Minimum/maximum Period for Repayment: 3 / 36 Months respectively
Minimum/maximum Annual Percentage Rate (APR): 14.5% - 45%

A representative Personal Loan Example:

• Cost of the Loan: ₹300,000
• Tenure: 36 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 individuals, Professionals (CA, CS, CMA, Doctors), Self Employed (Sole Proprietor Business Owners)
• Existing Chola customers: 21-65 years
• New customers: 21-58 years
• Minimum household income: Rs. 3,00,000 p.a

Chola One - Top Up Home Loan Features:

With a commitment towards the National Mission of Housing for All by 2022, Chola offers Top Up Home Loans with minimal documentation requirements. Both residential and commercial uses are supported under this scheme.

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 Required
• ITR/CIBIL Score not mandatory
• Customised Eligibility for Salaried and Self Employed
• Tenure ranging from 5 to 30 years for Residential and Commercial use

Contact Details:

• Email: [email protected] for Home Loan [email protected] for Loan Against Property Loan [email protected] for Consumer and Small Enterprise Loan & Personal Loan [email protected] for Secured Business & Personal Loan Phone: 18001024565 Corporate Office: CIFCL,Chola Crest, C54-55 & Super B-4, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai - 600032.