Different Loan Repayment Options of Chola Home Loans
Chola Finance offers home loan payment options only via:
- cheque
- cash
- or DD
It’s not possible to pay the EMI of your home loans at Chola Finance via credit cards, or online.
Steps to Repay your Home Loan at Chola Finance
- The borrower can pay the Chola Finance Home Loan EMI amount through cash/DD or cheque at the nearest branch by quoting their loan agreement number.
- On payment of the amount, the borrower is requested to collect their receipts for payment under any mode made at the branch or through a CHOLA collection executive or CHOLA authorized collection agency.
- If the cheque gets returned due to insufficient balance, you have to pay the EMI along with the cheque return charges.
- If it is not possible for the borrower to visit the branch, then CHOLA’s collection executive will visit and collect the EMI payment, which would include the outstanding charges if any, on your behalf.
About Chola Finance
Cholamandalam Investment and Finance Company (Chola Finance), founded in 1978 has 167 branches all over the country. The company offers different types of home loan products to its customers, giving customers the option of different loan repayment options on their home loans.