Things to know about applying for personal loans in Chennai

Things to know about applying for personal loans in Chennai

Quick disbursal of Personal Loans in Chennai:  

Living in a city like Chennai with full of opportunities, but you often need a financial push to upgrade yourself.

Are you able to believe? Obtaining a personal loan in Chennai with a fast payout period and a fair interest rate. Yes, it is possible with Zap Money, which provides rapid personal loans to borrowers with good credit.  

Our financial options are made to meet your various needs, whether you’re trying to handle unexpected expenses, save for a big purchase, or invest in personal growth. We make sure you receive the help you require to proceed with insurance.  

At Zap Money we understand the value of time, especially when there are urgent financial requirements. We make sure people get instant personal loan disbursals quickly and easily. Zap Money helps to build the gap between need and fulfillment efficiently.  

Personal loan interest rate in Chennai 2024: 

Personal loan finance companies in Chennai have a wide range but choosing RBI-regulated is difficult. Reputated companies like Zap Money provide 100% transparency, safety, and security for the customers. Customized personal loans in Chennai are offered by Zap Money, and they are made specifically to meet your financial needs. 

Feature Value 
Interest Rates Starting from 1.5% per month 
Loan Amount ₹1,000 to ₹1,00,000 
Loan Processing Fees 2% – 10% 
Loan Tenure 3 – 12 months 
Late Payment Charges ₹500 
Prepayment Charges Nil 
No Hidden Charges 

Benefits of taking a personal loan in Chennai:  

Personal loans from Zap Money have several advantages. Let’s see a few of them:  

Collateral Free loans:  

In Zap Money loans are unsecured. This means you can have the flexibility of borrowing money without collateral.  

Most affordable:  

Zap Money offers a reasonable interest rate of 15.99% with flexible repayment plans from 3 months to 12 months.  

Instant approval:  

After completing the app, funds can be received in 24 hours. Therefore, you can be approved for a loan in less than 60 seconds.  

Simple and Easy to Use:  

Above all, we have kept our application simple and easy to use to ensure it is available to all loan applicants nationwide.  


Since Zap Money is an RBI-regulated business, getting a personal loan from a reputable provider is completely safe and secure. They ensure that you are fully informed at every stage by offering complete transparency on the terms and conditions of the loan.  

Consider these things before taking a personal loan in Chennai:  

Lower interest rate:  

Personal loans are unsecured which means you can avail of a loan without providing any assets. So most lenders offer personal loans with high interest rates. For borrowers in need of quick cash, low-interest personal loans are always a wise decision and can result in substantial savings on loan expenses.

Credit score :  

A credit score is a three-digit numeric expression that shows a person’s credit history and creditworthiness. Credit scores range between 300 and 900, with a higher number suggesting a lower credit risk.  


EMI plays a major role when taking personal loans. Try to avoid default in loan EMIs missing even a single monthly repayment can affect your credit score.  

Lender’s Reputation :

When applying for a personal loan, a lender’s reputation is important since it influences how the loan is repaid. Therefore, it is crucial to confirm that the lenders are reliable and well-known in the industry. The NBFC P2P platform Monexo powers Zap Money. The Reserve Bank of India granted Monexo Fintech Private Limited ( a valid certificate of registration (CoR) on June 28, 2018, under Section 45 IA of the Reserve Bank of India Act, 1934. Obtaining a loan from a reputable business that is governed by the RBI, such as Zap Money, will protect the interests of the borrower and guarantee a positive lending experience.  


9 mistakes while taking a Personal loan on EMI


What are the eligibility criteria for personal loans in Chennai?  

Generally, to be eligible for a personal loan in Chennai, you should meet the following requirements:  

  • Minimum age of 21 year  
  • Salaried or self-employed with a regular income  
  • Good credit score (usually above 750)  
  • Employment stability and income consistency  

What documents are required for a personal loan application in Chennai?  

The following documents are typically required for a personal loan application:  

  • Identity proof (e.g., Aadhaar card, passport)  
  • Address proof (e.g., utility bills, rental agreement)  
  • Income proof (e.g., salary slips, bank statements)  
  • Credit history report  

What is the interest rate for personal loans in Chennai?  

Interest rates for personal loans in Chennai vary depending on factors such as your credit profile, loan amount, and tenure. However, they generally range between 10% and 18% per annum.  

Can I apply for a personal loan in Chennai if I have a bad credit score?  

Yes, some lenders may offer personal loans to individuals with bad credit scores. However, you may face higher interest rates and stricter eligibility criteria.  

How long does it take to process a personal loan application in Chennai?  

The processing time for personal loan applications varies from lender to lender. However, most lenders aim to process and disburse loans within 24 to 48 hours of receiving complete documentation. 


Hariharan Ravichandran

Understanding the ever-changing environment of money may be a difficult experience.I'm Hariharan, a seasoned finance explorer and blogger. I am right there with you, beginning on this journey of financial enlightenment as a fellow traveler.


The ZapMoney app makes personal finance easy, accessible, and affordable. The App is available on Google Play Store and App Store for download, allowing you to sign up and access easy personal loans. ZapMoney is powered by Monexo Fintech Private Limited which is a registered NBFC-P2P.
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