Cholamandalam Investment and Finance Company was founded in 1978 as a  financial services company powered by the Murugappa group. Chola Finance offers various home loan products to its customers to meet their different requirements, to suit all budget types, convenient repayment alternatives and quick hassle-free approval process. 

How do I repay my Chola Finance Home Loan?

  • 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.

 

Key Point to Note

The company does not allow payment of Chola Home Finance loan EMIs through credit cards or online. You have to submit post-dated cheques, DDs to the nearest Chola Finance branch.