|Interest Rate||Starting at 13.00% p.a.|
|Minimum loan amount||Rs. 5 Lakhs|
|Maximum loan amount||Rs. 75 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|
Tata Capital offers the following types of business loans:
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.
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.
This is business loan 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 lesser time.
Following are some remarkable features of Tata Capital business loans:
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:
Here is an example:
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|
Following are the documents required for business loan from Tata Capital:
Below are the Tata Capital business loan eligibility criteria:
|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 branch walk in|
|Outstation collection||Rs.100 + GST per repayment instrument|
|Loan cancellation||2% of loan amount or Rs. 5,750, whichever is higher + GST|
|Post Dated Cheque||Rs.850 + GST|
|Foreclosure letter||Rs.199 + GST for branch walk in|
|Duplicate NOC/ Instrument Swap/ Duplicate Repayment Schedule from Branch||Rs.550 + GST|
Here are some of the ways through which one can apply for the Tata Capital Business Loans:
To apply for Tata Capital business loan online through MyMoneyMantra, follow the steps mentioned below:
You can get Tata Capital Business Finance faster with their simple application process:
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 email@example.com or firstname.lastname@example.org.
Visit your nearest branch of your registered office of Tata Capital:
11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400013.
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The Tata Capital Business Loans are attractive as they come loaded with features such as:
Following documents are required to process the loan application:
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 laboratory.
To be eligible for the Tata Capital Business Loan, the applicant should:
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.