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Private Finance in Chennai

Private Finance Interest Rates in Chennai from 18% onwards for the month of May 2024

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Cashkumar Chennai


Best Private Finance Providers in Chennai

Chennai is a bustling town with a unique mix of traditional and modern business entities. It is fast emerging with numerous industries making the city their home and bringing in a vast upwardly mobile workforce. Their many requirements for finance are met through financial instruments like personal loans. There are also many businesses which require finance for their operating or expansion needs which requested through business loans. For any such need for finance in Chennai, you have an alternate source of private lenders or private finance. If you cannot procure required funds through the traditional bank and NBFC route or you are in need of quick loan then individual private money lenders can process your need.

Chennai has a lot of private lenders who will give an individual finance or a quick loan for a short duration to individuals or business in need of it. These loan requests are assessed and disbursed in quick time so as to meet your urgent needs for personal finance or business funding. All banks and financial institutions look for specific criteria for individuals and businesses to grant a loan. If you fall short of any of these then as per current rules you might not be able to procure a loan from them. Private lenders through a P2P platform look at your ability to pay back as per disposable income while processing your loan request.

As an individual you will need to show proof of income, current liabilities and job or experience in current craft or trade as well as other factors while applying for private finance. In the case of business, these criteria include your revenue, profitability as a percentage of revenue, balance sheet, cash flows and other factors. The nature of private finance is to provide funds for a short duration and individual finance. You will need to pay the loan back along with interest in quick duration. The interest rate is pre-agreed with the lender and you will have to sign notarized documents as well as issue PDCs directly to the vendor in lieu of your EMIs. The entire process will take a short time and your will be able to avail a quick loan.

Apply with us by calling or filling your details on our form to request for private finance in Chennai. We will help connect your to the private lender in your city and facilitate the entire process. There is also a wide array of bank and NDFC partners who will help with your personal or business loan request if your meet their eligibility criteria. Check our other services like EMI calculator, Eligibility Calculator and CIBIL Calculator for more details.

If you need a Private Finance in Chennai, you must have a good credit history and adequate salary to get your personal loan sanctioned with a Bank or an NBFC in Chennai. Other factors like years of employment, company you work for etc will determine the most important factors like amount, tenure and rate of interest. Some of the banks in Chennai give you the flexibility to pre-close the loan without any additional charges. Most banks have a pre-closure charge in the 4%-5% range.

Eligibility Criteria for Private Finance in Chennai

  • Age of the applicant should be between 21-60 Years
  • Salaried individual with minimum income of Rs 20,000. Salary bracket would again depend on the city you live in and the company you work for. Eg. If you are in a Metro the salary requirement will be higher than non-metro and again if you are working in a top MNC the salary requirement would be lesser than one working with a startup.
  • Should be staying in the city for at least 1 Year
  • Total work experience should be at least 2 Years
  • You would require basic documentation such as your address proof, identity proof, latest bank statements etc
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Documents Required for Chennai Private Finance

  • Three passport size photographs
  • ID proof – Passport/voter ID/ Aadhar or drivers licence
  • Residence Proof – Passport/ Landline bill/ post paid mobile bill/ rental agreement or Bank Statement
  • Pan Card copy
  • Age Proof – Passport/ drivers licence/school certificate or Pan Card copy
  • Income Proof - Latest 3 months salary slips
  • Banking Statement - 6 months bank statements
  • Job Stability & Continuity – Offer Letter, Relieving Letter and Form 16
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How we work?

We have greatly simplified your Private Finance search in Chennai and will help you get it in four simple steps,

Step 1

Start your Private Finance search by using our simple natural language form. Trust us, it takes only 37 seconds to complete!

Step 2

Your information is then passed through our proprietary eligibility algorithm
to tell you the private lenders and NBFCs in Chennai who can lend to you.

Step 3

After you choose a particular option that seems best to you, we call you and help you with the complete documentation.

Step 4

After you get listed on the platform, our private lenders and NBFCs in Chennai will pledge and lend to you your loan/finance requirement.

Are you ready to find the lowest interest rates available for your Private Finance in Chennai?

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Get an easy Short Term Loan from Cashkumar. Rs 20,000 to Rs 1 lakh. 3 months to 1 year repayment. Zero Pre-closure charges.

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