Tata Capital Loan Against Property

Home Loan Against Property Tata Capital Loan Against Property

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). Tata Capital offers various products including Commercial Finance, Infrastructure Finance, Wealth Management, Consumer Loans, and marketing of Tata Cards. 

About Tata Capital Loan Against Property

Tata Capital offers a Loan Against Property with the several benefits including a high loan amount, flexible loan tenor and attractive rate of interest. The NBFC offers a loan against property with the simplified loan process starting from the submission of loan application form to the disbursement of the amount into the account of the borrower. The following key facts about a loan against property from Tata Capital are mentioned below:

Tata Capital Loan Against Property

 

Loan Amount

  • Minimum Loan Amount- 20 lacs
  • Maximum Loan Amount- Up to 20 crores

Loan Tenor

Flexible loan tenor up to 15 years

Loan Repayment

ECS (Electronic Clearing System)/ NACH

Collateral/ Security for the loan

  • Pre-owned residential commercial property
  • Alternate properties including school, hospital, and residential plots.

Purpose of Applying for a LAP from Tata Capital

  • Purchase of commercial property
  • Business Needs
  • Personal Needs

Processing Fee

Ranges from 1% to 1.25% of the loan amount

Foreclosure Charges

4% + lock-in period charges (Lock-in period is 9 months from the date of disbursement)

Part-prepayment Charges

Up to 25% of principal amount is allowed at NIL charges and above 25% is allowed at 4%  

Tata Capital Loan Against Property Features and Benefits

Loan Against Property from Tata Capital offers several features and benefits that are mentioned below:

  • Attractive interest rates: The bank offers a home loan at the attractive rate of interest starting from 8.75%.
  • Quick turnaround period: Tata Capital disburses the amount of loan into your account within 14 to 20 days of the loan approval.
  • High Loan Amount: The borrower can take a minimum loan against property of 20 lacs that can go up to 20 crores.

Tata Capital Loan Against Property Eligibility Criteria

The eligibility criteria for applying for a loan against property from Tata Capital is mentioned below:

Eligibility Criteria

 

Who can apply

  • Salaried employees working in government organisations
  • Self-employed including doctors, architects and CAs
  • Self-employed (Non-Professionals) including traders, retailers, and wholesalers
  • Non- individuals including Firm, private limited company and public limited company

Age

  • Minimum age- 25 years
  • Maximum age- 60 years

Income

  • Salaried Employees- Min. annual income- 2,40,000
  • Self-employed Professionals- Min. annual income- 2,50,000
  • Self-employed Non-professionals- Min. annual income- 2,50,000
  • Non- individuals- Min. annual income- 3,00,000

Occasional Stability

  • Minimum 3 years for salaried employees, self-employed professionals, non-professionals
  • Minimum 3 years with 2 years of continuous cash profits for non-individuals

Tata Capital Loan Against Property Documentation

The following documents for salaried individuals, self-employed professionals are mentioned below:

Type of document

Salaried employee

Self-employed

Salary slips/ Income Tax Return

  • Salary slip of last 3 months
  • Form 16 or ITR
  • Bank statement for last 6 months
  • Repayment details on any existing loans or loan closure letter
  • Income Tax returns for the last 2 years
  •  P & L Statement and Balance Sheet of last 2 years (Certified by CA)
  • Bank statement (main account) for last 6 months

Identity proof (Anyone)

  • Aadhar Card or Letter issued by the UIDAI
  • Valid Passport
  • Photo PAN Card
  • Voter's ID Card
  • Valid Driving License
  • Aadhar Card or Letter issued by the UIDAI
  • Valid Passport
  • Photo PAN Card
  • Voter's ID Card
  • Valid Driving License

 

Proof of Signature (Anyone)

  • Valid Passport
  • Banker's Certificate
  • Driving License
  • PAN Card
  • Valid Passport
  • Banker's Certificate
  • Driving License
  • PAN Card

Residential address proof

  • Aadhar Card
  • Valid Passport
  • Valid Driving License
  • Voter's ID Card
  • Aadhar Card
  • Valid Passport
  • Valid Driving License
  • Voter's ID Card

Age Proof

  • Aadhar Card or Letter issued by the UIDAI
  • Valid Passport
  • Voter's ID Card
  • PAN Card
  • Birth Certificate
  • Aadhar Card or Letter issued by the UIDAI
  • Valid Passport
  • Voter's ID Card
  • PAN Card
  • Birth Certificate

  • Interest Rate 10.50% - 11.50%
  • Loan Amount 20L - 5Cr
  • Processing Fee 1%
  • Tenure15 Years

  • Quick Apply

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