Cholamandalam Investment and Finance Company (Chola Finance) provides home loans ranging between 10% to 12% annually depending on various parameters like borrower’s credit score, repayment capability, loan amount and loan tenure.
What is the Cholamandalam home loan rate for Rs. 25 lakhs for 15 years?
The home loan rate of Cholamandalam finance is at 10% for Rs. 25 lakhs for 15 years with the EMI coming to Rs. 34,722 as per the calculation given below.
Note that the EMI varies depending on the offered interest rate. The higher the interest rate, the more is the EMI and vice versa. Hence, it pays to work on lowering the home loan interest rate by boosting your credit score and other eligibility factors.
Important Points to Consider:
- Chola Finance Home loan is available for
- Self-construction
- Loans for purchase of plots
- Loans for purchase of ready to occupy homes
- Balance transfer of existing home loan
- The rate of interest is between 10% - 12% with home loans available between Rs.5 lakhs – Rs. 50 lakhs having tenure of 10 – 30 years
- Chola Finance Home Loans have faster processing and quick disbursals
- Chola Finance Home Loan have zero prepayment and nil foreclosure charges