Tata Capital Home Loan

Home Home Loan Tata Capital Home 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 fulfil 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. 

Tata Capital Housing Loan Features and Benefits

  • Loan Amount: The loan amount ranges from Rs. 2 lacs to Rs. 10 crores. However, the loan amount will not exceed 80% of the market value of the property. 
  • Loan Tenor: A Home Loan from Tata Capital can be availed for the maximum tenor of 20 years.
  • Part Prepayment of a Housing Loan: Tata Capital facilitates the part prepayment of a Home Loan. A borrower can make the part prepayment up to 25% of the loan amount without paying any charges. However, if it exceeds 25% then the borrower has to pay 2% of the outstanding loan amount as part prepayment charges.
  • Foreclosure Facility: In case of floating rate scheme the individuals can foreclose their Home Loan at NIL foreclosure charges. However, the non-individuals have to pay 2% of the outstanding loan amount as foreclosure charge. Similarly, in case of fixed rate scheme all the individuals and non- individuals have to pay 2% of the outstanding loan amount as foreclosure charge.
  • Home Loan Processing Time: Tata Capital processes the loan in a quick time once all the formalities are fulfilled.
  • Processing Fee: One of the advantages of availing a Home Loan from Tata Capital is the low processing fee. Tata Capital charges a low processing fee that does not exceed 0.50% of the loan amount.
  • Repayment Options: The borrower can repay the loan via several repayment options including PDC, SI (Standing Instructions) and ECS and NACH.
  • Life Insurance Policy for a Home Loan:  Tata Capital provides the facility of Credit Cover for Life as a benefit to the borrower.

Why apply for a Tata Capital Home Loan?

  • To purchase a property and construct a house
  • To purchase an already constructed property
  • For home renovation or home improvement
  • For home repairing
  • For home extension

  • Interest Rate 8.50% - 9.00%
  • Loan Amount20L - 5Cr
  • Processing Fee 0.25% - 0.50%
  • TenorUpto 15 Years

  • Quick Apply

Tata Capital Home Loan Rates

Tata Capital offers a Home Loan at the following interest rates:

 Loan Slab Interest rate for salaried employees Interest rate for self-employed professionals or businessmen 
 Loan amount up to   Rs. 75 lacs 8.75%- 8.80% 8.90%
 Loan amount more than Rs. 75 lacs 8.80%- 8.85% 9.05%

Tata Capital Home Loan Documents

The required documents for Tata Capital Home Loans are mentioned below:

 Document Type Salaried Employees  Self-employed Professionals or Businessmen
 Age Proof

 

  Anyone of the following:

  • Aadhar Card
  • Passport
  • Driving License
  • Life Insurance Policy
  • Birth Certificate
  • PAN Card
  • School Leaving Certificate

 

  Anyone of the following:

  • Aadhar Card
  • Passport
  • Driving License
  • Life Insurance Policy
  • Birth Certificate
  • PAN Card
  • School Leaving Certificate
 Identity   Proof   Anyone of the following:
  • Aadhar Card
  • Passport
  • Driving License
  • PAN Card
  Anyone of the following:
  • Aadhar Card
  • Passport
  • Driving License
  • PAN Card
 Residential   Proof

   Anyone of the following:

  • Utility Bill
  • Bank Statements
  • Property Registration Documents
  • Property Tax Receipt
  • Voter's ID

  Anyone of the following:

  • Utility Bill
  • Bank Statements
  • Property Registration Documents
  • Property Tax Receipt
  • Voter's ID
 Office Address   Proof 

  Anyone of the following:

  • Employee ID Card
  • Appointment Letter
  • Letter from employer on official letterhead.
 

  Anyone of the following:

  • Employee ID Card
  • Appointment Letter
  • Letter from employer on official letterhead
 Income Proof

  Anyone of the following:

  • Salary slips of last 3 months
  • Appointment Letter
  • Yearly Increment Letter
  • Certified copy of Form 16
 

  Anyone of the following:

  • ITR of last 2 years
  • Business Profile on Letter Head
  • Registration Certificate for Business commencement
 Bank   Statement

 

  Bank statement of Salary Account of last 6 months

 

  Operative Current Account Statement for last 6 months

 Other   Documents 
  • Existing Loan Details
  • Processing Fees Cheque
 
  • Existing Loan Details
  • Processing Fees Cheque
 Financials   NA 
  • Balance Sheet of last 3 years
  • Profit and Loss statement of last 3 years
  • Proof of Business Existence
  • Audit Reports, Annexure etc.  

Types of Home Loan Offered by Tata Capital

Tata Capital offers two types of Home Loans that are discussed below:

 

Home Renovation Loan:

Tata Capital offers a Home Loan the applicants who require funds for renovating their home. The applicants also get a tax deduction up to Rs. 30,000 under Section 24(b) of Income Tax Act on the interest payment made towards a home renovation loan.

Uses of Home Renovation Loan

Home Renovation could be used for:

  • Home Maintenance
  • Painting
  • Remodelling
  • New Flooring
  • Internal and External Repairs

Home Renovation Loan Fees and Charges

 Details 
   Interest Rate   Starting from 8.75%
   Loan Amount   Minimum Rs. 1 lacs
   Processing Fees   Up to 2%
   Tenor   12 months up to 360 months
   Pre-closure Charges   Up to 2%
   Part Prepayment Charges   NIL if the prepayment is made up to 25% of loan   amount


Eligibility:

  • Age: The minimum age required for home renovation loan is 24 years and above at the time of applying for a loan.
  • Minimum Income: To apply for a Home Renovation Loan is Rs. 30,000 per month.
  • Work Experience: A salaried employee must have at least 2 years of relevant working experience. He must have at least 6 months of experience with the organisation he is currently working with. Similarly, a self-employed professional or businessmen should have at least 3 years of relevant working experience in the same profession or business.

 

Home Extension Loan:

Tata Capital offers a special Home Loan for the home extension known as Home Extension Loan. This type of loan is offered to extend the house that includes the construction of new floor or a single room or a balcony.

Uses of Home Extension Loan

Home Extension Loan could be used for the following:

  • For building a new floor
  • To construct a new room
  • To build a terrace garden or garage

Home Renovation Loan Fees and Charges

 Details 
   Interest Rate   Starting from 8.75%
   Loan Amount   Minimum Rs. 1 lacs
   Processing Fees   Up to 2%
   Tenor   12 months up to 360 months
   Pre-closure Charges   Up to 2%
   Part Prepayment Charges   NIL if the prepayment is made up to 25% of loan   amount

 

Eligibility:

  • Age: The minimum age required for home renovation loan is 24 years and above at the time of applying for a loan.
  • Minimum Income: To apply for a Home Renovation Loan is Rs. 30,000 per month.
  • Work Experience: A salaried employee must have at least 2 years of relevant working experience. He must have at least 6 months of experience with the organisation he is currently working with. Similarly, a self-employed professional or businessmen should have at least 3 years of relevant working experience in the same profession or business.

Other Available products from Tata Capital

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