Apply for Cholamandalam Loan Against Property

Why apply through CreditMantri

CreditMantri matches your credit and demographic profile to Cholamandalam Loan Against Property lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you based on our proprietary matching algorithm.

In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for Cholamandalam Loan Against Property. Hence the chances of your Cholamandalam Loan Against Property application getting approved is higher.


best rate


processing fee

15 yrs

max tenure

  • Offers home loans to suit all budgets
  • Exclusive products for self-employed
  • Convenient repayment options
  • Fast track approval process
  • Over 577 branches across India
  • Interest rate - 15%
  • Processing fee - 2% of loan amount
  • Application form with photograph
  • ID proof (any one) - PAN,Passport,Driver's license, Voter ID
  • Address proof (any one) - Passport,Driver's License, Voter ID, Utility bill, Ration card, Bank statement
  • Last 2 years IT return attested by CA – Form 16, 12 months bank statement. Salaried - Salary slip for 3 months, Self employed - Office address proof.
  • Property related documents – original title deed, parent document and EC going back 30 years, EC, patta, approved plan, property tax receipts

About Cholamandalam Investment and Finance Company Limited (Chola)

Cholamandalam Investment and Finance Company Limited was incorporated in 1978 and is one of the leading NBFCs in India. It is part of the Chennai-based Murugappa group and offers a range of financial products like home loans, home equity loans, auto loans, SME loans, stock broking among others. Chola has over 500 branches across the country.

Cholamandalam Loan Against property

Switch to a better life with Chola’s Loan against Property! A loan against your property can finance your needs at a cheaper cost compared to a personal loan. You could use the loan for a multitude of your requirements so long as it is legal. A Loan Against Property in Cholamandalam suits all kinds of budget and needs, has convenient repayment options and a speedy approval process.

Cholamandalam Loan Against Property - Features

Loan amount

Avail loan amounts from INR 10 Lakhs up to INR 5 Crores

Flexible tenure

Opt for tenures that are long and flexible in order to ease your monthly EMI amounts. The Loan Against Property Cholamandalam is secured, ensuring that you get longer tenure to pay off your EMIs.

Interest rates

You can opt for floating rate of interest rate or fixed interest rate. Take advantage of interest rates on a loan against property that are lower than most other modes of raising funds.

Cholamandalam Finance offers attractive interest rates on Loans Against Property. Note that the Interest Rate depends on a variety of other factors. For the latest interest rates, you can contact your nearest branch.

Advantage for the self-employed

Take advantage of the various offers and exclusive products for the self-employed.

Processing time

Once you are found eligible for a Loan against property, the Cholamandalam Loan Against Property Application is processed quickly, subject to the successful verification of all the documents. The application is processed in 5-7 working days.

Transfer of Existing Equity Loan

You can choose to transfer your existing loan against property with another provider to Cholamanadalam for better and attractive interest rates, longer tenures, etc.

Part pre-payment

Part pre-payment of loan is possible, subject to terms and conditions. A nominal fee would be levied on you for such purposes.

Easy Payment modes

You can pay the EMI amount by the following payment modes:

  • Pay by cash at the nearest branch referring your loan agreement number.
  • Pay by DD or cheque at the nearest branch referring your loan agreement number.

Swapping of Bank Accounts

In case you wish to change your Repayment Mode, it can be done so easily by the submission of the requisite documents. Please note that the swap will take up to 30 working days, from the date of receipt of fresh instruments.

Cholamandalam Loan Against Property Interest rate

Cholamanadalam offers competitive interest rates in the market. For the latest interest rates, it is advisable to contact the company. Keep in mind that the interest rate offered is dependent on a variety of factors.

Cholamandalam Loan Against Property - other fees and charges

  • SOA CHARGES - Rs. 250
  • Swapping charges (from ECS/PDC to) Roll over PDC CHARGES Non PDC CHARGES (Cash Payment Mode) - Rs. 1500
  • Charges for swapping PDCs of one bank to another - RS.1000
  • Cheque /ECS bounce charges - Rs.500 per returned ECS/Cheque
  • Payment collection charges - Rs.200 per transaction
  • Duplicate NOC charges - Rs. 500 per event

Cholamandalam Loan Against Property - Eligibility

In order to check your eligibility for a loan against property from Chola, you can use the Chola Online Eligibility Calculator. The amount of loan you would be eligible for depends on varied criteria like your net monthly income, your age, any other loan commitments you might already have, the tenure of the loan etc.

Cholamandalam Loan Against Property - Documents Required

  • Completed application form with recent photograph
  • Proof of Identity - Passport Copy/ Voter ID card/ Driving License/ PAN Card (any one document to be submitted)
  • Address Proof - Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement/Driving License (any one to be submitted)
  • Proof of age - PAN Card, Passport, Birth Certificate
  • Bank statements for the last six months
  • Latest three months Salary slips/Salary Certificate
  • Form16 - Income-tax deduction certificate issued by the Employer
  • Registered Property deeds – should be clear from any encumbrances

Cholamandalam Loan Against Property FAQs

Swapping of Bank Accounts

Any salaried or self-employed Indian national can apply.

What is the Repayment mode after availing a loan against property from Cholamandalam?

You can repay your loans in EMIs (Equated Monthly Instalments).

What is an EMI?

EMI is Equated Monthly Instalment. It is the amount which you will be paying on a monthly basis to repay your loan amount over the stipulated loan period.

How do I calculate EMI?

You can use any online Personal Loan EMI Calculator in order to calculate the EMI that you might be paying each month towards the loan. In order to use the calculator, you will have to input the following:

  • Gross loan amount
  • Flat rate of interest
  • Tenure (in months)

You will get the resulting (approximate) EMI amount which you will have to pay each month towards repaying the loan. You can use CreditMantri’s handy calculator in order to plan your finances and decide what kind of loan you can afford.

What are the payment methods for EMI with a Chola loan?

You can pay the EMI amount by the following payment modes:

  • Pay by cash at the nearest branch referring your loan agreement number.
  • Pay by DD or cheque at the nearest branch referring your loan agreement number.

How long will it take for my loan application to be processed?

Loan processing generally takes 5-7 working days, once your documents are found to be in order.

How can I update my latest contact details?

You can contact your nearest branch/Head Office in order to update your contact details. You need to fill a form and submit your address proof.

Cholamandalam Loan Against Property Review

Chola offers loans to suit all budgets, with attractive interest rates and convenient repayment options. You can pay your EMIs by cash/cheque or DD at the nearest branch. You can check your eligibility online and determine your estimated EMI costs to decide what kind of loan you can afford.

How to Get Loan Against Property from Cholamandalam - Apply for Cholamandalam Loan Against Property

You can apply for a Cholamandalam Loan Against Property in any of the following ways:

You can visit any of the Cholamandalam Finance branches for details and submit a completed application form with your latest passport size photograph along with the required documents.

You can call the customer care at any of the branches who will assist you in the loan process.

You can also download the application form available on the Chola website and send the filled- in form to any of the branches nearest to you along with a copy of the requisite documents.

Alternatively, if you think you need help with your loan application and advice on loan eligibility, CreditMantri can guide you through the entire process and match you with the loan offer that best suits your profile.

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