Tata Capital Personal Loan is available at attractive interest rates and for a long tenure to meet your financial needs. With Tata Capital, you get an Instant personal loan of up to ₹35 lacks at an attractive interest rate starting from 10.99% p.a. with a flexible tenure of 72 months.
You will use this personal loan for home renovation, family weddings, medical emergencies, vehicle purchases, etc.
Here, I will walk you through the features, benefits, and charges of Tata Capital Personal Loan so that you do not face any problems in availing of the loan.
Tata Capital Personal Loan Details
|Tata Capital Personal Loan Interest Rate||10.99% p.a. onwards|
|Loan Amount||Up to Rs 35 lakhs|
|Tenure Time||Up to 72 months (6 Years)|
|Minimum Monthly Salary Require||Rs 15,000|
|Processing Fees||Up to 2.75% + GST|
|Pre-approved Instant Personal Loan||Offered to select consumers based on their repayment history, monthly income, credit score, age, area, etc.|
|Pre-Clouse Charges||4.5% of outstanding principal amount + GST after 12 months 6.5% of outstanding principal + GST before 12 months|
|Tata Capital Personal Loan Customer Care Number||1860-267-6060 |
|Example||Loan Amount: Rs 50,000 |
Tenure: 12 Months
Interest Rate: 10.99% (on Reducing Principal Balance Interest Calculation)
EMI Amount: Rs 4,418
Total Interest Payable: Rs 3,026
Processing Fees (incl. GST): Rs 1,770
Disbursed Amount: Rs 50,000 – 1,770 = 48,230
Total Amount Payable: 53,026
Tata Capital Personal Loan Interest Rate
Tata Capital provides personal loans to people under various schemes. Tata Capital offers personal loans up to Rs 35 lakh to customers at the lowest interest rate of 10.99% per annum. Customers apply for a personal loan online. You do not send any documents manually. Tata Capital decides the interest rate based on repayment history, income structure, credit score, Age, area, etc., which may differ from customer to customer.
|Customer Profile||Rate of Interest (p.a.)|
|Personal Loan Overdraft||13.50%|
Factor affecting Tata Capital personal loan interest rates
Age of the applicant: The interest charged on the personal loan can be more or less according to our Age. Younger applicants have to pay less interest as the risk involved is less, and older applicants may have to pay higher interest as the risk involved is more.
CIBIL Score: The applicant’s credit score is considered before determining the personal loan interest rate. If the applicant has a low CIBIL score and has failed to repay his previous loans or credit card bills on time, the interest will be determined higher.
Loan Tenure: In most cases, the loan repayment tenure is chosen by the applicant. The option is in the hands of the applicant as to when he will repay the loan. The longer the tenure of the personal loan, the higher the interest.
Residential Location: The interest rate decided by Tata Capital can also be based on whether the applicant lives in an urban or semi-urban area. People living in city areas can get a personal loan at a low-interest rate.
Features of Tata Capital Personal Loan
With Tata Capital, you will get a personal loan of ₹40K to ₹35L at an interest rate starting from 10.99% p.a. with a flexible tenure of 72 months. Tata Capital offers low-processing and collateral-free loans to meet your financial needs. Following are some of the reasons why you should take a personal loan from Tata Capital:
Loan Amount: Tata Capital offers you personal loans ranging from Rs 40,000 to Rs 35 lakh with low-interest rates and flexible tenure, which you can use to finance your housing needs, medical expenses, family marriage, vehicle purchase, etc.
Low-Interest Rate: To meet your financial needs, Tata Capital offers you a personal loan at an interest rate of 10.99% per annum.
Repayment Tenure: You get a flexible tenure of 6 years to repay the amount taken as a personal loan, which proves very beneficial for all the customers.
Low Processing Fee: You are charged a low processing fee on the loan amount get by you. A processing fee of 2.75% + GST of the sanctioned loan amount will be applicable.
Without Security Loan: With Tata Capital, You do not need to deposit security while taking a Personal loan. Here you get loans of 40 thousand to 35 Lakhs without a collector.
The process digitally: You do not need to submit documents manually if you apply for the loan online.
Student Loans: If you’re a student looking for a way to finance higher education, get a co-signer ad to avail of an online personal loan. Instant approval and quick disbursement are guaranteed benefits when applying at Tata Capital.
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Tata Capital Personal Loan Fees
|Rate of Interest||10.99% to 21% per annum|
|Repayment instruction/Instrument return charges||Rs. 600 + GST|
|Swap Charges||Rs. 550 +GST|
|Penal Interest||3% per month on the overdue installment.|
|Duplicate Statement||Rs. 250 + GST|
|No Dues Certificate (Duplicate Copy)||Rs. 50 + GST|
|Stamp Duty Charges||As per State Stamp Act|
|Pre-Payment Charges||2.5% + GST |
Pre-payment charges shall be charged on the principal outstanding.
The part Payment amount is up to 25% of the outstanding principle
|Bounce Charges||Rs 600 + GST|
|Loan Processing Charges||Up to 2.5% of the loan amount + GST|
Eligibility for Tata Capital Personal Loan
- Minimum age – 22 years
- Maximum age – 58 years
- Non–salaried person maximum age – 58 years
- Employees of government bodies/private companies with a service of at least 1 year
- Employees of private limited companies, proprietorship firms, trust, and partnership firms with a service of at least 1 year continuously
- NRI/PIO and the members of the staff are ineligible.
- Insurance agents in the business for at least 2 years
- Self-employed businessmen with at least 1 year of stable business
- Self-employed professionals like doctors, engineers, company secretaries, architects, interior designers, etc with at least 1 year of a stable business.
- Tata Capital may also check the credit score and monthly income of its applicants, just like other lenders do while evaluating their loan eligibility.
Tata Capital Personal Loan Documents Required
Proof of residence includes any of the following:
- Valid passport
- Voter id card
- Driving license
- Postpaid utility bill (gas bill and electricity bill)
- Updated passbook or bank statement
- Registered rent agreement
Proof of identity:
- PAN card
- Aadhar Card
- Valid Indian passport
- Voters ID card
- Driving license
- Employee ID cards issued by relevant authorities like the Govt or Defence or reputed corporate
- Identity document or certificate of practice with photograph issued by professional bodies like ICAI, ICWA, ICFAI
For Salaried individuals
- Last 3 months’ salary slips
- Statement of account for last Six months of Bank
For Self-employed individual
- Balance sheet and profit and loss account, computation of income for last 1 year
- Income Tax Return – last 1 year for applicants, 26 AS, Traces
- Business proof: Gomasta License, Registration Certificate, Service Tax Registration, etc.
- IT Assessment Certificate, Income Tax Certificate (Form 16A)
Tips to Improve Personal Loan Eligibility:
A high salary and credit score also improve your loan eligibility. Furthermore, there are certain steps you can take to ensure that your loan application is approved faster.
Maintain a healthy credit score: The higher your credit score, the higher your loan eligibility. Generally, a credit score of 750 and above is considered healthy by any credit bureau. The bank sees you as a good customer and may also offer you a competitive interest rate.
Keep your EMIs within a limit: The total EMI of your existing loan should not exceed 40% of your take-home salary.
Avoid applying for multiple loans or credit cards: This will lower your credit score as you will be seen as credit hungry. Therefore, you should apply for a loan or credit card only when necessary.
Don’t default on EMIs or delay your credit card payments: If you have existing loans, make sure to pay EMIs on time.
Types of Tata Capital Personal Loans
Tata Capital here is different types of loans provided to you. The person can choose the loan according to his needs and convenience.
You must have often seen that there are many expenses in marriage. But due to lack of money, we are to cancel many functions. Now you do not need to do this. Because Tata Capital has brought you a marriage loan facility, you can use this loan amount to manage your expenses.
Medical debt can use in an emergency. You know that when a family member an admitted to the hospital, it has to spend too much. In a medical situation, the Tata Capital Medical Loan will be helpful for you.
With Tata Capital, you can avail of financial assistance with a personal loan. You can be used as an education loan, and you can focus on your studies and career. Apart from regular education expenses, you will also take care of other costs while studying with your Tata Capital Personal Loan.
Home Renovation Loan
If you want to renew the house, you do not have to worry about money because Tata Capital has brought you a plan for a home renewal loan. When you need home improvement, you can use a loan.
How to apply for a Tata Capital Personal Loan?
For Tata Capital Personal Loan offline applications:
- Visit your nearby Tata Capital branch.
- Submit the personal loan application and the required documents.
- You can also get in touch with the Tata Capital representative over a phone call.
- Offline loan applications can be taking a few business days to process.
For Tata Capital Personal Loan Online Applications:
- Click on the link to Apply for a Personal Loan Online.
- Now, fill in the personal, professional, and financial details as required by the lender and submit the form.
- Once you submit the application form, Tata Capital will check your eligibility and provide you with information about the eligible amount you can avail of.
- If you agree to process the application form, you will submit the required documents, which can also be uploaded online.
- Finally, your documents will be processed by Tata Capital, and on successful approval of the loan, the funds will be disbursed instantly into your bank account.
Tata Capital Personal Loan Online Payment
Online: You can pay your loan EMIs online quickly. You can use NEFT, UPI, etc., and pay your EMIs online. Enjoy the convenience of paying directly from your bank account with auto loan facilities.
Mobile Apps: Paying your loan is now in your hands. Repay your monthly EMIs using Tata Capital’s official mobile application on your mobile phone.
Tata Capital Personal Loan Customer Care Number
By Phone: You can call on the company’s customer care number 1860-267-6060
Email: You can also contact customer care via email. The email address for specific queries is below:
Tata Capital Personal Loan FAQ:
What is a Personal Loan?
Personal loans help you to borrow money for a price of a personal nature – be it for some other requirement such as an emergency, education, family marriage, or home renovation. With Tata Capital, with various Personal Loans ranging from 50k to 40 Lakh, you can enjoy an interest rate of 10.99% p.a. with flexible functions ranging from 24 to 72 Months.
What is an EMI?
EMI Stands for Equated Monthly Installment. Which is the fixed amount paid for the repayment of your loan. It includes both the principal component and the interest amount. It gives you the convenience and benefit of repaying the personal loan amount in small and easy installments.
Is Tata Capital good for a loan?
Tata Capital Personal Loan offers a host of features that you can avail of and is a good option if you are looking for a personal loan. Tata Capital Personal Loan is available at attractive interest rates and for long tenures to meet your financial needs. You can use this personal loan for home repairs, family weddings, medical emergencies, vehicle purchases, etc.
What is the interest rate of Tata Capital Loan?
With Tata Capital, you can avail of personal loans up to 35 lakhs at attractive interest rates. You can enjoy a minimum interest rate of 10.99% per annum.
What is the minimum CIBIL score required to avail Tata Capital personal loan?
If you have a high credit score, you may also get a higher loan amount or lower loan rates. However, a score below 750 may reduce your chance of getting a personal loan or grant you a lower amount or a higher interest rate.
What is the minimum salary for Tata Capital personal loan?
To avail Tata Capital personal loan, you need to have a minimum net income of ₹ 15,000 per month.
How do I prepay the Tata Capital Personal Loan?
You can pay your loan EMIs online quickly. You can use NEFT, UPI, etc., and pay your EMIs online. Enjoy the convenience of paying directly from your bank account with auto loan facilities.
Paying your loan is now in your hands. Repay your monthly EMIs using IVL’s official mobile application on your mobile phone.