Tata Capital

Tata Capital Home Loan

Apply Tata Capital Home Loan @ 9.75%
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Interest Rate

9.75%-10.20%

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Processing fee

Upto 1%

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Loan Tenure upto

20 years

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LTV (Loan to value)

75% to 90% of property value

About Tata Capital Home Loan

Unlock your dream home with easy Home Loans offered by Tata Capital. Established in the year 2007, the goal of Tata Capital is to make transparent and focused financial solutions available to everyone who wants to pursue their dream of owning a home.

Tata Capital is registered under the Reserve Bank of India as a Non-Banking Financial Company (NBFC) and provides practical loan solutions for purchase, construction, and renovation of the property. These loans are available to salaried and self-employed individuals at competitive rates of interest.

Tata Capital Home Loan

Interest rate

9.25%

Loan tenure

30 Years

Loan turnaround period

8 - 15 days

Loan to value (LTV)

Get loan up to 85% of project cost

Who can apply?

  • Self-employed professionals
  • Salaried individuals
  • Indian residents

Co-applicants

Up to 4 applicants are allowed as co-applicants

Lowest EMI

823 Per Lakh

Why Choose Tata Capital Home Loan?

Tata Capital currently functions across India with close to 100 branches. Their Home Loans are structured to allow everyone to get practical solutions to purchase a new property, buy land, or even refurbish an existing property. The three main reasons why you should choose Tata Capital Home Loans are:

  • You can choose a good property as you get the highest Home Loan eligibility with Tata Capital.

  • You have the option of starting out with lower equated monthly instalments (EMIs) on Home Loan at the beginning and increasing to coincide with an improvement in income over time.

  • There are no foreclosure charges with these loans.

These are the primary reasons to choose Tata Capital Home Loans. There are several other benefits and advantages of choosing their Home Loan plans.

Features and Benefits of Tata Capital Home Loan

  • You can avail loans for purchase of a plot for house construction, purchase of a flat or house, construction of your house, renovation, extension

  • If for any reason you are not satisfied with your current Home Loan provider, you can transfer any existing loan with other financial institution to Tata Capital through Home Loan Balance Transfer facility.

  • You have the option of including a member of your family as a co-owner to borrow a larger loan amount.

  • You can choose a fresh loan to purchase a house or get a top up on an existing loan to fund growing personal needs at an interest rate lower than that of a Personal Loan.

  • There are easy repayment options such as Post Dated Cheques, Electronic Clearance Service (ECS), deduction against salary, and the auto debit to make sure you do not miss an EMI.

  • You can choose the EMI that you can pay conveniently.
  • You can purchase or construct a home not just in metro cities but in a rural area as well.

  • You can choose between fixed and floating rates of interest as per your repayment ability and budget.

  • You can get a loan amount of up to 5 Crores (and 10 Crores if you are an NRI).

  • You can get flexible repayment tenure of up to 30 years, which one of the longest tenures in the Housing Loans industry.

  • The documentation process is standard and simple.
  • There are no foreclosure charges in these loans.
  • These Home Loans also qualify for tax benefits.

Tata Capital Home Loan Interest Rate

The rates of interest for Tata Capital Home Loans are different for each loan scheme.

  • The interest rate for Tata Capital Home Loan starts at 9.25%.

  • For Tata Capital Home Extension Loan, the interest rate starts at 9.60%.

  • For Tata Capital NRI Home Loan, the interest rate starts at 9%.

  • The interest rate for Tata Capital Affordable Housing Loan starts at 9.50%

  • For all woman applicants and co-applicants, the rate of interest is 0.05% lower than the mentioned rates.

Types of Home Loans Offered by Tata Capital

Tata Capital offers a range of products to help you buy and construct properties. The types of Housing Loans offered by Tata Capital include:

Tata Capital Home Loan

  • Tata Capital Home Loan is offered for the purchase of a new house or flat, purchase of a plot for construction of a house, home renovation, construction of a new property, purchase of an already constructed flat or house and home extension.

  • This loan can also be availed for repair and maintenance of your home and also for the renovation of interiors.

  • The maximum loan amount is 5 Crores under this scheme, which is subject to 80% of the market value of property in consideration.

  • Minimum loan amount for purchase of property is 2 Lakhs.
  • The interest rate for this loan starts at 9.25%
  • Repayment period extends up to 30 years depending upon the age of retirement in case of salaried individuals or 65 years at the time of maturity in case of self-employed individuals.

  • You can get a tax deduction of up to 30,000 under section 24(b) of the Income Tax Act, 1960 on the interest paid towards the home renovation loan in one fiscal year.

Tata Capital Home Extension Loan

  • You can avail loans for building a new floor, room, terrace garden, and garage or for landscaping of your property.

  • The minimum loan amount available is 1 Lakh and can be customized as per your requirement.

  • The repayment tenure is a minimum of 12 months and a maximum of 60 months.

  • The interest rate for this loan starts at 9.60% per annum.

Tata Capital Affordable Housing Loan  or Pradhan Mantri Awas Yojana Scheme

  • This loan scheme aims at providing affordable housing to the people who don't have a sound financial background under Pradhan Mantri Aawas Yojana Scheme.

  • Under this scheme, the applicants having an annual income of 6 Lakhs or below can get a subsidy of 6.5%.

  • The minimum loan amount offered under the scheme is 2 Lakhs.

  • The interest rate starts at 9.50%.
  • The repayment tenure varies from 1 year to 30 years.

Capital NRI Home Loan

  • Tata Capital offers Home Loans to NRIs to help them purchase a house or property in India.

  • They can get a loan amount ranging from 2 Lakhs to 10 Crores for residential properties.

  • The repayment tenure is a minimum of 12 months and a maximum of 120 months.

  • You can avail floating interest rates for easy repayment of this loan.

Tata Capital Home Loan Eligibility

The eligibility criteria for a Home Loan with Tata Capital are as follows:

  • The applicant should be of minimum 24 years at the time of application and a maximum of 65 years at the time of completion of the housing loan.

  • Salaried individual must be earning a minimum  30,000 per month and should have a minimum work experience of 2 years (minimum 6 months with the current employer).

  • Entrepreneur applicant should have a minimum 3 years of experience in their current field.

Documents Required for Tata Capital Home Loan

The documentation depends upon your occupation in order to apply for a Tata Capital Home Loan. The requirements are as follows:

Type of Applicant Type of Document Documents Required

 

Salaried Individuals

 

 

Age Proof

A Copy of Passport, PAN Card, Driving License, Birth Certificate, Life Insurance Policy, and School Leaving Certificate

Photo ID Proof

A copy of Passport/ Voter's ID/ Driving License/ PAN Card/ Aadhaar Card

Residence Proof

A copy of Utility Bill/  Property Registration Documents/ Bank Statements/ Property Tax Receipt/ Voter's ID

Income Proof

  • A Copy of last 3 months' Salary Slips/  Appointment Letter/ Annual Increment Letter/ Form 16

  • A copy of salary  bank account statements for the last 6 months

Other Documents

  • Details of existing loans (if any) through bank statements
  • Processing Fee Cheque issued from the salary account

 

Self-employed Individuals

 

 

Age Proof

A Copy of Passport, PAN Card, Driving License, Birth Certificate, Life Insurance Policy, and School Leaving Certificate

Photo ID Proof

A copy of Passport/ Voter's ID/ Driving License/ PAN Card/ Aadhaar Card

Residence Proof

A copy of Utility Bill/  Property Registration Documents/ Bank Statements/ Property Tax Receipt/ Voter's ID

Business Proof

A copy of the last 2 year' IT applicant's Business Profile on letterhead/ Business Commencement Registration Certificate

Income Proof

A copy of the last 3 years' Profit & Loss Projection Statement/ Bank statements for the last 6 months of CC or OD facilities, if taken/ Operative current account statement for the last 6 months

Other Documents

  • Details of existing loans (if any) through bank statements
  • Processing Fee Cheque issued from the salary account

NRIs

 

 

Age Proof

A Copy of Passport, PAN Card, Driving License, Birth Certificate, Life Insurance Policy, and School Leaving Certificate

Photo ID Proof

A copy of Passport/ Voter's ID/ Driving License/ PAN Card/ Aadhaar Card

Residence Proof

A copy of Utility Bill/  Property Registration Documents/ Bank Statements/ Property Tax Receipt/ Voter's ID

Income Proof

  • A copy for the last 6 months pay slips along with employment stability documents like Appointment Letter/ previous employment history

  • Details of overseas salary account for Indian NRO/ NRE account statements for the last 6 months

Other Documents

  • A Credit Report must be submitted by NRI applicants of their current country of residence

  • Details of existing loans (if any) through bank statements
  • Processing Fee Cheque issued from the salary account

Other Tata Capital Products

There are several other funding options for your home available with Tata Capital including:

Tata Capital Rural Housing Finance

  • This loan is provided for applicants to purchase homes in rural areas, including Tier 2 and Tier 3 cities.

  • The Rural Housing Finance scheme allows the purchase of existing property and construction or purchase of new property.

Affordable Housing Finance - Prapti Home Loans

  • Affordable housing finance is provided through Prapti Home Loans under the Pradhan Mantri Awas Yojana.

  • You can get interest rates as low as 4%.
  • Loans are available to households with an annual income of 6 Lakhs or below.

  • This housing finance option is available across Tier 2 and Tier 3 cities, semi-rural areas, and even the urban poor segment.

Tata Capital Urban Housing Fund 

  • This urban housing fund is available to refinance housing finance companies and banks with respect to the loan provided to their pledgers in urban areas.

  • The objective of this scheme is to improve credit availability and improve the house financing requirements of individuals who are in the lower and middle-class income segment.

Tata Capital Switching and Refinance

  • Home Loans availed on a long term basis are subject to changes as per the dynamics of the market, leading to changes in the interest rate as well.

  • Applicants may also see an improvement of income during the tenure of the loan.

  • Tata Capital Refinancing allows you to opt for an increase or decrease in interest rate as per your current financial situation.

  • You may also choose to increase EMI as per your income to reduce the payment made towards the interest portion of your current Home Loan.

Some of the other products and services offered by Tata Capital are:

Tata Capital Products& Services

Personal Loan

Business Loan

Used Car Loan

Two Wheeler Loan

Loan Against Property

Loan Against Securities

Consumer Durable Loan

Mutual Funds from Tata AMC

Insurance

Credit Cards

How to Calculate EMI on Tata Capital Home Loan?

The EMI calculator on MyMoneyMantra allows you to calculate your EMI on a certain plan accurately. This helps you choose the right loan scheme and allows you to plan your monthly budget as per the EMI.

To calculate your Tata Capital Home Loan EMI, follow the three steps mentioned below:

  • Visit MyMoneyMantra
  • Click on EMI Calculator under Financial Tools section
  • Enter the proposed interest rate, your preferred tenure and the loan amount that you are seeking on the calculator. Based on the details entered, the EMI is calculated instantly.

How Does CIBIL Score Affect Tata Capital Home Loan?

Your credit history plays a very important role in a loan application. Although the CIBIL requirements are lower in case of Home Loans, a higher CIBIL score improves your eligibility for loans. A CIBIL score between above 650 is ideal for any Home Loan application.

Tata Capital Loan Processing Fee and Other Charges

The different charges applicable for Tata Capital Home Loan are:

Processing Fee

0.5% of the loan amount + GST

Pre-payment charges

Borrowers have the option of making a partial prepayment of up to 25% of the outstanding loan amount in one year. If you exceed this prepayment limit, a 2% charge is applicable exclusive of taxes. 

Delayed EMI Charges

A charge of 2% is applicable on the current rate for the delayed period.

Foreclosure Charges

NIL

CERSAI Fees

50 for loans up to 5 Lakhs and 100 for amount above 5 Lakha, to be collected during loan closure.

Collection agency

As per actuals

Legal Charges

PDC Charges, loan cancellation charges, dishonor of cheque charges, rejection of ECS Charges, PDC Swapping Charges, Account Maintenance Charges.

Other Parameters

500 per instance

The fees mentioned above are exclusive of any government charges, cess, levies, and so on. They are subject to change as per the discretion of Tata Capital Limited.

Tata Capital Customer Care

For any information or to submit grievances or complaints, you can call the Tata Capital Toll Free Number: 1800-209-6060. This number is available from 9AM to 8PM from Monday to Saturday. It is closed on Sundays and Public Holidays.

Tata Capital Customer Care

Registered Office

11th floor, Tower A,

Peninsula Business Park,

Ganpatrao Karam Marg, Lower Parel,

Mumbai- 400013.

Email ID:

contactus@tatacapital.com

customercare@tatacapital.com   (For existing customers only)

You may also request a call back on the official website www.tatacapital.com.

Tata Capital Home Loan Latest News

Tata Capital Housing Finance Limited Launches 'Accel Home Loans'

17th Sept 2018: The financing subsidiary of Tata Capital Limited announced the launch of their Accel Home Loan Scheme to help customers purchase larger homes. The loan is structured such that the first 36 months require you to only pay the interest component and subsequently pays the outstanding on the loan.

Tata Capital Launches New Brand Campaign

22nd September 2018: The new brand campaign for Tata Capital was launched today. This campaign includes 3 TV commercials with the message "Taal-matol ko choddo, Tata Capital se Rishta Jodo". This campaign will run across the country, focusing on three key retail loan offerings- personal, home and business loans.

Tata Capital Housing appoints Anil Kaul as Managing Director

18th July 2018: Tata Capital has appointed Anil Kaul as Managing Director for Tata Capital Housing Finance. He will be replacing R. Vaithianathan. Kaul has over two decades of experience in the financial services sector and has held senior positions in ICICI Lombard, ICICI Bank and Citibank.

Tata Capital Reduces Home Loan Interest Rate by up to 35 bps

13th Jan 2017: For Home Loans up to 75 Lakhs, the interest rate has been reduced from 9.10% to 8.75% by Tata Capital Housing. Women borrowers get a subsidy of 0.5% on the interest rate as per the press release provided by the company.

Frequently Asked Questions

What is the maximum loan amount available with Tata Capital Housing Home Loan?

You can get up to 5 Crores ( 10 Crores for NRIs) as Home Loan with Tata Capital Housing. However, the maximum loan amount cannot exceed 80% of the market value of the property being considered.

Who can be a co-applicant with Tata Capital Home Loan?

You can include your parents/ spouse/ siblings and children as co-applicants for Home Loans. Their salary or income will be considered to enhance eligibility for the loan.

Can prepayments be made on my Tata Capital Home Loan?

You can make a prepayment of up to 25% of the outstanding balance in a given year. If the prepayment amount exceeds this limit, a fee of 2% of the amount paid above the limit is charged.

Are there any foreclosure charges on Tata Housing Home Loans?

There are no foreclosure charges on Tata Housing Home Loans for individuals. In case of co-applicants, you will have to pay a foreclosure charge of 2% exclusive of taxes.

What is the maximum repayment tenure on Tata Capital Home Loans?

You can get repayment tenure of up to 30 years. The age at loan maturity of the applicant should not be over 65 years.

Who is eligible for a Tata Capital Home Loan?

Individuals above the age of 24 years and below the age of 65 at maturity are eligible for these loans. The loan is available to self-employed, salaried individuals and NRIs with sufficient income available for the chosen scheme.

Is there any processing fee or application fee that I have to pay for Tata Capital Home Loans?

A processing fee of a maximum of 0.5% of your loan amount plus GST must be paid at the time of application.

What are the repayment options available for Tata Capital Home Loans?

You can opt for ECS, PDC, auto-debit or even link your salary account for automatic repayment of your EMI.

What is the penalty on missed EMIs on Tata Capital Home Loans?

A 2% penalty is applied on the current rate for the period of delay.

What is the turnaround time with Tata Capital Home Loans?

The Turnaround Time depends upon each case and the availability of necessary documents. A dedicated team of Credit Managers will work on individual files. Once the loan is approved, a sanction letter is providing in 4-5 days for salaried employees and 7-8 days for self-employed individuals.

Why Apply for Tata Capital Home Loan on MyMoneyMantra?

MyMoneyMantra is a simple solution to apply for a Home Loan of your choice with any financial institution. You have the option of comparing various interest rates offered by different institutions and the schemes available to choose a plan that is suited to your budget and your requirement.

The following advantages make this the most hassle-free option of availing a Tata Capital Home Loan:

  • You can check your eligibility instantly with an online loan EMI calculator tool.

  • The policies of all the loan schemes are mentioned in detail to ensure that you understand the plan that you are choosing thoroughly.

  • Based on your eligibility and your repayment ability, a customised quote is provided to you.

  • The documentation process is simplified for a hassle-free loan application. We offer free doorstep documents pick-up service to our customers.

  • You get an e-approval of your application as soon as you make a Tata Capital Home Loan Application.

  • Calculate your EMI with the online EMI calculator to ensure that your loan plan fits into your budget.

  • All the information provided by applicants on MyMoneyMantra will be kept confidential and secure.

How to Apply for Tata Capital Home Loan through MyMoneyMantra?

To apply for a Tata Capital Home Loan on MyMoneyMantra, log in to the official website, go to Home Loans under Loans  and enter your personal details including the following:

  • Your gender
  • The city that the property in consideration will be located in
  • Employment details
  • The Home Loan amount required
  • The approximate value of the property in consideration
  • Your email id and phone number

Once your phone number is provided, you will receive an OTP. Provide the OTP to complete the registration process and proceed to the application of the loan.

The application process is simple and includes the following steps:

  • Choose the type of Home Loan you are seeking with Tata Capital

  • An associate from MyMoneyMantra will contact you to proceed with the application for the loan. There are no service charges for this facility.

  • A personal interview is conducted to understand your requirement, employment type and current income by the marketing team of Tata Capital.

  • The loan is approved after the personal interview and disbursed as per the loan sanction letter

OTP is sent to your mobile number

Enter OTP

Resend OTP