Tata Capital Business Loan
About Tata Capital
Tata Capital, formed in the year 2007 is a subsidiary of Tata Sons Limited. It offers a comprehensive range of financial services to fulfill the diverse needs of retail, corporate and institutional customers. It got registered with Reserve Bank of India (RBI) as a Systematically Important Deposit Accepting Non- Banking Financial Company (NBFC). The organization works across different sections of business including Commercial Finance, Infrastructure Finance, Wealth Management, Consumer Loans, and marketing of Tata Cards.
About Tata Capital Business Loan
Every successful and growing business requires extra credit for its unhindered working. The extra funds can be utilized for the working capital needs of the business. The immediate requirement of the funds can be fulfilled with quick Business Loan.
Business Loan from Tata Capital is known for its quick loan disbursement, attractive and low-interest rates, flexible repayment options, etc.
Why apply for Tata Capital Business Loan?
- Quick Loan Disbursal: Tata capital ensures the loan disbursement within 3 business days after the successful submission of the loan application and documents.
- Transparent Loan Process: Once the loan is approved, the borrower can easily access his loan account online and track every activity.
- Flexible Loan EMI: With Tata Capital Business Loan, a borrower can customise his equal monthly installment (EMI) as per his convenience.
- Competitive Interest Rates: Tata Capital ensures best for its customers and offers Business Loan at competitive interest rates.
Business Loan Features & Benefits
- No collateral: No security or guarantee is required to apply for the Business Loan from Tata Capital for the loan amount up to Rs. 50 lacs.
- Loan Amount: Tata Capital offers minimum loan amount of Rs. 3 lacs which can go up to Rs. 50 lacs based on the eligibility.
- Loan Tenor: Business Loan from Tata Capital has a flexible loan tenor ranging from 24 months to 60 months.
- CIBIL Score: Tata Capital offers the Business Loan to the borrowers with CIBIL Score 650 and above.
- Repayment Options: The Business Loan can be repaid with flexible EMI options explained below.
- Loan Turnaround Time: Tata Capital disburses loan within the 3 business days after the submission of loan application and documents.
Tata Capital Business Loan Flexi EMI Option
- Step Down Flexi EMI Plan: Under this plan, the borrower can initially pay a higher amount of EMI and gradually decrease the amount on yearly basis.
- Step Up Flexi EMI Plan: Under this plan, the borrower can upgrade his EMI amount.
- Bullet Flexi EMI Plan: Under this plan, the borrower can pre-pay his loan in specific intervals.
Tata Capital Business Loan Eligibility Criteria
Following are the factors affecting the loan eligibility:
|Business Profitability||Business should be in a profitable state for 3 consecutive years|
|Financials||CA certified financials including Balance Sheet and P & L statements|
|Who can apply?|| |
Tata Capital Business Loan Fees & Charges
Refer to the following table to know about the fees charged by NBFC
|Type of Fee||Percentage|
|Processing Fee||Up to 2% of loan amount|
|Foreclosure Charges||4.5% of the outstanding loan amount + GST|
Documents Required for Tata Capital Business Loan
Following documents are required:
- Filled application form along with the passport size photograph signed across.
- Income Tax Return for latest two years.
- Financial statements such as Balance Sheet and Profit and Loss Statement for latest two years.
- Certified bank statement for latest six months.
- Identity proof such as Aadhar Card, PAN Card, Passport, Voter ID, or Driving License.
- Age and address proof.
- Proof of business loan documents duly certified by the state authorities.
Other Available products from Tata Capital
- Personal Loan
- Home Loan
- Home Loan Balance Transfer
- Loan Against Property
Total Interest Payable
Total of Payments
(Principal + Interest)