Tata Capital Home Loan Details
Highlights of Tata Capital Home Loan are as below:
| Loan Amount | Up to 80% of the property cost |
|---|---|
| Rate of interest | 6.90% onwards |
| Tenure | Up to 30 years |
| Lowest EMI possible | Rs. 659 Per Lakh |
| Processing fee | 0.5% to 2.0% of the loan amount + GST |
Tata Capital Home Loan Features
Following are the features of Tata Capital Home Loan:
- Loan amount: Up to 80% of the property; Rs 5 Lakhs to Rs 5 Crores
- Tata Capital Home Loan interest rates start at 6.90% p.a. onwards
- Repayment tenure: Maximum up to 30 years
- Tata Capital Home Loan Processing Fees is nominal, i.e. 0.5% to 2.0% of the loan amount.
- Lowest EMI possible: Rs. 659 Per Lakh
Table of Contents: Tata Capital Home Loan[Hide]
- Tata Capital Home Loan Benefits
- Tata Capital Home Loan Eligibility Criteria
- Tata Capital Home Loan Interest Rates
- Tata Capital Home Loan Processing Fees & Charges
- Documents Required for Tata Capital Home Loan
- Tata Capital Home Loan Schemes
- Tata Capital Home Loan Comparison with Other Lenders
- How Much Home Loan Can I Get on My Property (LTV) from Tata Capital?
- How to Calculate Tata Capital Home Loan EMI?
- Tata Capital Home Loan Repayment options
- Tata Capital Home Loan Customer Care
Tata Capital Home Loan Benefits
Some benefits of signing up with Tata Capital Home Loan are:
- Diverse loan schemes: up to 5 Rs crore for resident Indians and up to Rs 10 crore for NRIs
- Tata Capital Home loans are available for purchase/construction/renovation of plot, flat or house.
- Home loan processing is quick, easy, and hassle-free.
- Adequate customer support throughout the procedure.
- Flexible repayment options such as Step up EMI, Fixed EMI or floating EMI options.
- Easy balance transfer & top up offers.
- Add co-owner for enhanced loan amount
- Multiple repayment options such as Post Dated Cheques, Electronic Clearance Service (ECS), deduction against salary, and auto debit.
- Standard and hassle free documentation process.
- No foreclosure charges.
Tata Capital Home Loan Eligibility Criteria
The eligibility criteria for a Home Loan with Tata Capital are as follows:
- The applicant should be a minimum of 24 years at the time of application. The maximum age should not be beyond 65 years at the time of completion of the tata capital housing loan.
- Salaried individual must be earning a minimum of Rs 30,000 per month and should have a minimum work experience of 2 years. Minimum of 6 months’s experience with the current employer is also mandatory.
- Self employed applicants should have a minimum of 3 years of experience in their current field.
Tata Capital Home Loan Interest Rates
The rates of interest for Tata Capital Home Loans vary as per the scheme.
Home Loan:
| Customer Profile | Loan Slab ROI* (%) | ROI* (%) |
| Salaried | Any Amount | 6.90%* onwards |
| Self Employed | Any Amount | 6.90%* onwards |
Home Equity
| Customer Profile | Loan Slab ROI* (%) | ROI* (%) |
| Salaried / Self Employed | Any Amount | 10.10% onwards |
Tata Capital home loan Processing Fees & Charges
The different charges applicable for Tata Capital Home Loan are:
| Processing Fee | 0.5% -0.2% of the loan amount + GST |
| Pre-payment charges |
|
| Delayed EMI Charges | A charge of 2% is applicable on the current rate for the delayed period. |
| Foreclosure Charges | NIL *No charges are applied on foreclosure of Home Loan if you pay off with your own funds. If you use someone else's money for foreclosure, then a foreclosure charge of 2% will apply |
| CERSAI Fees | Rs 50 for loans up to Rs 5 Lakhs; Rs 100 for amount above Rs 5 Lakhs, to be collected during loan closure. |
| Collection agency | As per actual |
| Legal Charges | Charges for PDC, loan cancellation, dishonour of cheque, rejection of ECS, PDC Swapping and Account Maintenance. |
| Other Parameters | Rs 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.
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:
Salaried Individuals
| Type of Document | Documents Required |
| Age Proof (copy of any one) | Passport/ PAN Card/ Driving License/ Birth Certificate/ Life Insurance Policy/ School Leaving Certificate |
| Photo ID Proof (copy of any one) | Passport/ Voter's ID/ Driving License/ PAN Card/ Aadhaar Card |
| Residence Proof (copy of any one) | Utility Bills/ Property Registration Documents/ Bank Statements/ Property Tax Receipt/ Voter's ID |
| Income Proof |
|
| Other Documents |
|
Self-employed Individuals
| Type of Document | Documents Required |
| Age Proof (copy of any one) | Passport/ PAN Card/ Driving License/ Birth Certificate/ Life Insurance Policy/ School Leaving Certificate |
| Photo ID Proof (copy of any one) | Passport/ Voter's ID/ Driving License/ PAN Card/ Aadhaar Card |
| Residence Proof (copy of any one) | 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 |
|
NRIs
| Type of Document | Documents Required |
| Age Proof (copy of any one) | Passport/ PAN Card/ Driving License/ Birth Certificate/ Life Insurance Policy/ School Leaving Certificate |
| Photo ID Proof (copy of any one) | Passport/ Voter's ID/ Driving License/ PAN Card/ Aadhaar Card |
| Residence Proof (copy of any one) | Utility Bills/ Property Registration Documents/ Bank Statements/ Property Tax Receipt/ Voter's ID |
| Income Proof |
|
| Other Documents |
|
Tata Capital Home Loan Schemes
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.
Tata 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 Rs. 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 and reduce the payment made towards the interest portion of your current Home Loan
Tata Capital Home Loan Comparison with Other Lenders
| Lender | Maximum Loan Amount | Maximum Tenure | Interest Rate | Processing Fee |
| Tata Capital Home Loan | Up to 80% of property | 30 years | 6.90% onwards | 0.5% to 2% of the loan amount + GST |
| ICICI Bank Home Loan | Up to 90% of property | 30 years | 6.75%-7.55% | 0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST |
| SBI Home Loan | Up to 90% of property cost | 30 years | 6.75% - 8.05% | NIL till Aug 31. |
| Axis Bank Home Loan | Rs. 5 Crores | 30 years | 6.90%-8.40% | Up to 1%, minimum Rs.10,000 |
| HDFC Home Loan | Up to 90% of property cost | 30 years | 6.95%-7.65% | Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes |
How Much Home Loan Can I Get on My Property (LTV) from Tata Capital?
A Home Loan is a secured loan where property for which you are applying for the loan is considered as the Loan Security or Collateral. So the value of the property along with the marketability is an important eligibility factor for the loan amount. Each lender provides a percentage of this property value for financing property purchase and this is called Loan to Value (LTV) ratio. The remaining amount needs to be paid by the applicant as margin or down payment. Maximum LTV for Tata Capital Home Loans is 80% of the property's value.
How to Calculate Tata Capital Home Loan EMI?
The EMI calculator on MyMoneyMantra allows you to calculate Home Loan 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 Home Page
- Click on EMI Calculator under Financial Tools section
- Enter the proposed interest rate, tenure and loan amount on the calculator. Based on the details entered, the EMI is calculated instantly. You will also get loan amortisation schedule.
Tata Capital Home Loan EMI Calculation
| Loan Amount | 10 years | 20 years | 30 years |
| Rs.20 lakh | Rs. 23,119 | Rs. 15,386 | Rs. 13,172 |
| Rs.30 lakh | Rs. 34,678 | Rs. 23,079 | Rs. 19,758 |
| Rs.40 lakh | Rs. 46,237 | Rs. 30,772 | Rs. 26,344 |
| Rs.50 lakh | Rs. 57,797 | Rs. 38,465 | Rs. 32,930 |
| Rs.60 lakh | Rs. 69,356 | Rs. 46,158 | Rs. 39,516 |
*For EMI calculation purpose, flat rate of Interest @ 6.90% p.a. is considered. The calculation is indicative only. Your EMI schedule will vary as per rate of interest offered to you.
Tata Capital Home Loan Repayment options
The borrower can repay the Home Loan at Tata Capital in affordable EMIs with easy repayment options such as Post Dated Cheques (PDCs) and Electronic Clearance Service (ECS) facility.
ECS facility: ECS or Auto Debit is one of the easiest methods to pay EMI. The borrower must sign and submit auto debit form or ECS mandate to instruct the bank to directly deduct the monthly EMI amount on the fixed date of every month. This will automatically debit the EMI monthly from the borrower's account at Tata Capital.
PDC facility: In the cities where ECS facility is not available, the EMI payment can be done with the help of Post Dated Cheques (PDCs). The borrower has to submit 36 monthly cheques to the Tata Capital and submit fresh cheque prior to the expiry of old ones or when required by Tata Capital.
Tata Capital Home Loan 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.
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Tata Capital Home Loan FAQs
✅ 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 / or children as co-applicants for Home Loans. The total of salary or monthly income of all applicants will be considered to assess the eligibility for the home 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, 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 for Tata Capital Home Loans?
The processing fees range from 0.5% to 2% of loan amount plus GST.
✅ 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 for loan sanction and disbursal 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 provided in 4-5 days for salaried employees and 7-8 days for self-employed individuals.
