Tata Capital Business Loan
Get a Tata Capital business loan up to Rs. 90 Lakhs to fund all your business-related financial needs. The loan can be repaid easily over a tenure of up to 36 months through EMIs. This Tata Capital offered at an affordable interest rate starting from 12.00% p.a.
Apply for Tata Capital Business Loan @ 12.00% Interest Rates
Tata Capital Business Loan Details
| Interest Rate | Starting at 12.00% p.a. |
| Minimum loan amount | Rs. 40,000 |
| Maximum loan amount | Rs. 90 Lakhs |
| Repayment tenure | 12 - 36 months |
| Processing fee | 1.50% - 2.50% of loan amount + GST |
| Foreclosure charges | 4.5% - 6.5% of principal outstanding + taxes |
| Age | 25 - 65 years |
| CIBIL Score | 700 or above |
Types of Tata Capital Business Loans
Tata Capital offers the following types of business loans:
Business Loan for Women
This business loan can be taken to meet the small and big business needs of women entrepreneurs, such as business expansion, day-to-day business needs, etc.
- Loan amount: Rs. 5 Lakhs to Rs. 75 Lakhs.
- Tenure: Range between 12 months and 36 months.
- Collateral: Not required.
MSME/SME Loans
This business loan is specifically used as a single line of credit to fund the needs of small and medium-sized business enterprises. These loans can be used as working capital, for infrastructure creation, hiring competent personnel, or business expansion.
- Loan amount: Rs. 5 Lakhs to Rs. 75 Lakhs.
- Tenure: Range between 12 months and 36 months.
- Collateral: Not required.
Machinery Loan
This is a business loan that can be availed of for financing the purchase of new machinery or equipment for a business. It allows you to upgrade to newer technologies, which can help produce more units in less time.
- Loan amount: Rs. 5 Lakhs to Rs. 75 Lakhs.
- Tenure: Range between 12 months and 36 months.
- Collateral: Not required.
Features of Tata Capital Business Loan
The following are some remarkable features of Tata Capital business loans:
- Loan amount: Tata Capital offers business loan amounts of a minimum of Rs. 40,000 to Rs. 90 lakhs..
- Tenure: The repayment tenure of the loan varies from 12 months to 36 months.
- Rate of interest: The loan comes with attractive interest rates starting from 12.00% .
- Processing fee: The processing fee starts from 1.50% for self-employed doctors & professionals, 2% for self-employed non-professionals, and up to 2.50% for others, plus GST as applicable.
- Multipurpose: Loans are available for multiple purposes, such as business expansion, working capital, machinery/equipment purchase, stocking inventory, and so on.
Benefits of Tata Capital Business Loan
- No collateral: Tata Capital offers collateral-free business loans that do not require any professional or personal assets to secure financing.
- Customised business loan: To suit the requirements of every individual business owner.
- Simple & quick processing: They do not bother the applicant with lengthy formalities except for the statutory requirements prescribed by law.
- Competitive interest rates: Everything is tailored as per the borrower's affordability and convenience.
- Flexible repayment: You can choose EMI as per your convenience
- Minimal documentation: They require simple details like income and the purpose of the loan.
Tata Capital Business Loan EMI Calculation
You can calculate Tata Capital Business Loan EMI with the Tata Capital EMI Calculator or by using the Business Loan EMI Calculator on our website.
To calculate EMI, enter the following information:
- The loan amount you wish to avail of
- Interest rate
- Loan repayment tenure
Here is an example:
- Loan amount applied for: Rs. 50 Lakhs
- Rate of interest applicable: 13.50% p.a.
- Tenure chosen: 3 years
In the above example, you will have to pay a total interest of Rs. 11,08,352 on a loan of Rs. 50 Lakhs. The total amount to be paid to the bank will be Rs. 61,08,352. Your monthly EMI would be Rs. 1,69,676.
Amortization table for the above example:
| Year | Opening Balance | Principal to be Paid in a Year | Total Interest to be Paid in a Year | Total Amount to be Paid in a Year | Closing Balance |
|---|---|---|---|---|---|
| 1 | Rs. 50,00,000 | Rs. 14,48,576 | Rs. 5,87,541 | Rs. 20,36,117 | Rs. 35,51,424 |
| 2 | Rs. 35,51,424 | Rs. 16,56,699 | Rs. 3,79,418 | Rs. 20,36,117 | Rs. 18,94,725 |
| 3 | Rs. 18,94,725 | Rs. 18,94,725 | Rs. 1,41,393 | Rs. 20,36,117 | Rs. 0 |
Documents Required for Tata Capital Business Loan
The following are the documents required for a business loan from Tata Capital:
- Company bank statements for the last 6 months.
- Income Tax Returns of the last 2 years.
- Balance sheet and Profit & Loss accounts last 2 years, audited by a registered Chartered Accountant (CA).
- KYC documents of the company and business owners.
- A report with detailed information on how you will utilise the loan amount.
- Photo identity proof, such as Aadhar Card/ Passport/ Driving license/ Voter ID.
- Bank statements
- Business proof
Tata Capital Business Loan Eligibility
Below are the Tata Capital business loan eligibility criteria:
- Minimum age: Must be at least 25 when applying for the loan
- Maximum age: Must not be above 65 years when the loan matures.
- CIBIL score: The Minimum CIBIL score should be at least 700 or above.
- Profitability: Your business must be profitable for at least 3 successive financial years.
- Turnover: The turnover of your business must display an upward trend.
- Balance sheet: Your balance sheet should be audited by a registered CA.
Tata Capital Business Loan Charges
| Processing fees | 1.50% to 2.50% of the loan amount + GST |
| Foreclosure | 6.5% within 9 months & 4.5% afterwards + GST |
| Penal interest | 3% p.m. on overdue amount + GST |
| Payment bounce | Rs 2,000 per cheque/ payment instrument dishonour + GST |
| Mandate rejection | Rs.450 + GST |
| Document processing | Rs.1,999 + GST |
| CCOD annual maintenance |
|
| Statement of accounts | Rs. 250 + GST for a branch walk-in |
| Outstation collection | Rs. 100 + GST per repayment instrument |
| Loan cancellation | 2% of the loan amount or Rs. 5,750, whichever is higher + GST |
| Post-Dated Cheque | Rs.850 + GST |
| Foreclosure letter | Rs. 199 + GST for a branch walk-in |
| Duplicate NOC/ Instrument Swap/ Duplicate Repayment Schedule from the Branch | Rs.550 + GST |
How to Apply for a Tata Capital Business Loan
Here are some of the ways through which one can apply for the Tata Capital Business Loans:
- Apply online through Tata Capital's website.
- Call Tata Capital's customer care team on their toll-free number with a request to call back.
- Visit the nearest Tata Capital branch and apply for the Business Loan.
- Apply for the Tata Capital Business Loan online through MyMoneyMantra.
Tata Capital Business Loan Application Process
You can get Tata Capital Business Finance faster with their simple application process:
- Apply Online: Apply for the loan online by just filling up your basic details.
- Verification: After the application is submitted to the lender, it will verify your business loan application and the submitted documents. This process may involve a personal discussion with you.
- Quick Disbursal: Get the required business loan amount in your bank account instantly after successful approval.
Tata Capital Business Loan EMI Options
- Fixed EMI: Under this feature, the principal portion and the interest amount charged on the loan tenure is fixed. It is a fixed business loan, so the monthly instalment or EMI is constant for the entire loan period. It is ideal for those who have a steady and consistent income source.
- Structured EMI: This plan enables you to choose a repayment structure that is best suited to your salary and monthly expenses. It is a flexi business loan and offers customised business loan EMI choices to the customer. It is best suited for those who are expecting an increase in their income at regular intervals.
Tata Capital Business Loan Customer Care
You can call Tata Capital for any query, including for business loans, at their toll-free number 1860 267 6060 between 9 AM to 8 PM, Monday to Saturday. The service is closed on Sundays and Public Holidays.
You can also send an email to contactus@tatacapital.com or customercare@tatacapital.com.
Visit your nearest branch of your registered office of Tata Capital:
Registered Office Address: 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400013.
FAQs
- Check EMI with EMI Calculator: Try permutations and combinations to arrive at the EMI that fits into the loan-to-EMI ratio and also that suits your pocket. Based on this, the loan amount can be decided.
- Calculate the business loan eligibility: The deciding factors for your loan eligibility are your income, repayment capacity, and credit score. Calculate the eligible amount before applying for the loan.
- Review your current responsibilities: The applicant has to consolidate all the present loan obligations before deciding to apply for the business loan. This will help them to choose the right repayment period to fix the necessary EMI in such a way that it is not stressful.
- A clean record: To increase the chances of qualifying for the loan you should concentrate on building a clean record. By prompt payment of loan installments and Credit Card dues, you can create a good track record. Make sure that Credit Card utilisation is kept to the minimum and loans are availed only if really necessary. This will enable you to manage finances better and avoid delayed payments which result in a clean track record.
- Consider loan tenure: The loan-to-EMI ratio should always be kept in mind while opting for the repayment period. If the availability of the residual amount out of the monthly income to service the proposed EMI is not sufficient to fit the loan-to-EMI ratio, then it is better to opt for a longer repayment period.
- Creditworthiness: The CIBIL score is the tool to measure one's creditworthiness. Working towards keeping the score high by making loan and Credit Card dues payments on time will help to create a healthy credit score.
The Tata Capital Business Loans are attractive as they come loaded with features such as:
- Pre-approved offers for existing customers
- No security or guarantor for Business Loan
- Flexible repayment options
- Convenient online access to all details regarding the Business Loan
- Unsecured loan up to 50 Lakhs
- Minimum documentation
- Quick online approval if the required minimum documents are provided.
The following documents are required to process the loan application:
- Duly filled application
- KYC documents of the company, including PAN card, registration of incorporation, partnership deed, Memorandum, and Articles of Association.
- Balance Sheet and Profit & Loss account statement for the past 2 years
- Income Tax returns for the last 2 years
- Bank statements of the company for the last 6 months
- GST returns for the last 6 months
- A detailed report as to how the Business Loan will be used
Business Loans are offered to both self-employed professionals and non-professionals. For professionals like doctors there is a special loan scheme with competitive interest rates and quick disbursal. The loan will also be given to proprietorship firm, partnership firms, private limited companies, trusts, societies, closely held public limited companies, nursing homes, hospitals, and pathology laboratories.
To be eligible for the Tata Capital Business Loan, the applicant should:
- Be in the age group of 25 to 65 years
- Have been in the business at least 3 consecutive years
- Have had cash profits for the past 2 years
- Have improved turnover year on year
- Have an audited balance sheet
Up to a maximum of 50 Lakhs is available as loan amount depending on the applicant's income and credit score.
The Tata Capital Business Loan can be repaid within 12 to 36 months.
The interest rate for the Tata Capital Business Loan is fixed and starts from 13.50%
The Tata Capital Business Loan can be repaid through PDCs or ECS or by debit to the bank account.