Tata Capital Personal Loan

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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 Personal Loan

Tata capital Personal Loan is a pack of various features and benefits. A Personal Loan could be used for covering several expenses including marriage, education, travel, and other general purposes. The key facts about Tata capital Personal Loan are mentioned below:

Tata Capital Personal Loan

 

Loan Amount

Up to 25 Lakhs

Loan Tenure

Ranges from 12 months to 72 months

Loan Turnaround Period

Within 72 hours after fulfilling the loan formalities and submission of documents

Purpose of Personal Loan

  • Wedding expense
  • Educational expenses for higher studies
  • Travel expenses
  • Other general purposes

Eligible Applicants

  • Salaried individuals
  • Self-employed individuals
  • Self-employed Businessman

Loan Repayment options

  • Standing Instruction (SI)
  • NACH

Part Pre-payment Charges

4.5% if the amount of payment exceeds 25% of the principal amount

Foreclosure Charges

2% of the outstanding loan amount

Processing Fee

Ranges from 0.5% to 2.5% of the loan amount

Tata Capital Personal Loan Features

The features of a Personal Loan from Tata Capital are mentioned below:

  • Quick Turnaround Period: One of the striking features of Tata Capital is the quick disbursement of a loan amount into the account. Tata Capital disburses a personal loan within 72 hours of completing all loan formalities.
  • Multi-purpose Personal Loan: A Personal Loan from Tata Capital could be used for multiple purposes including wedding expenses, travelling and holidaying expenses, educational expenses etc.
  • Easy Repayment: The loan repayment can be done via several repayment options including Standing Instructions and Post Dated Cheques.
  • Personal Loan Top-up: Tata Capital provides the facility of borrowing funds over and above the loan amount.
  • No security required: The borrower can apply for a personal loan from Tata Capital without collateral or security.

Apply for a Personal Loan

Tata Capital Types of Personal Loan

Tata Capital offers three unique kinds of a Personal Loan. There are the types that enable the borrower to close the loan earlier without charging pre-payment fee. The borrower can either choose to pay higher or lower amount of EMI based on the rise and decrease in his income. The below types of loans are:

  • Step up flexi EMI personal loan: The borrower has the choice of paying a higher amount of loan EMI in case of an increase in the annual income.
  • Step down flexi EMI personal loan: The borrower can pay the higher amount of loan EMIs initially and gradually decrease the amount.
  • Bullet flexi EMI personal loan: The borrower can pre-pay the loan amount at periodic intervals.

Tata Capital Personal Loan Eligibility Criteria

The following factors mentioned below affect the loan eligibility of the borrower:

Eligibility Criteria

Salaried Individuals

Self-employed Professionals and Business Owners

Age

  • Min. age - 21 years and above
  • Max. Age - 58 years
  • Min. age- 21 years and above
  • Max. Age - 58 years

Minimum Income Required

Monthly income of 20,000/- (Subject to the NBFC's terms and conditions)

Yearly income of 2 Lakhs

Job/ Business Continuity

  • Working experience of relevant number of years
  • 2 years of work experience with the organisation currently working with.

Continuity in the business for 3 years in the same city.

Tata Capital Personal Loan Required Documents

The borrower has to submit all the documents that are mentioned below for applying for a personal loan from Tata capital:

Document Type

Salaried Individuals

Self-employed Professionals and Business owners

Identity Proof

Anyone of the following:

  • Aadhar Number
  • PAN Number
  • Voter's ID
  • Passport

Anyone of the following:

  • Aadhar Number
  • PAN Number
  • Voter's ID
  • Passport

Address Proof

Anyone of the following:

  • Ration Card
  • Electricity Bill
  • Passport

Anyone of the following:

  • Ration Card
  • Electricity Bill
  • Passport

Bank Statements

Bank statement of last 3 months

Bank statement of last 6 months

Employment continuity/ Business Continuity

Employment continuity document of last 2 years

  • Self-employed Professionals: Highest professional degree
  • Self-employed Business owners: Trade license/ sales tax certificate/Memorandum of an Association or Memorandum of Articles.

Salary slips or ITR Filings

Salary slips of last 3 months

Latest ITR and complete financials including Balance Sheet, Profit and Loss Statement and Audit Report certified by CA

  • Interest Rate 11.50% - 16.99%
  • Loan Amount 1L - 30L
  • Processing Fee 999 - 2%
  • Tenure5 Years

  • Quick Apply

Fees and Other Charges

The following fee and other charges of a Personal Loan from Tata Capital are mentioned below:

Type of Fee

 

Processing Fee

Ranges from 0.5% to 1.5% of a loan amount

Foreclosure Charges

2% of the outstanding loan amount

Part-pre Payment

4.5% of the loan amount if the payment exceeds 25% of the principal loan amount

Other Available products from Tata Capital

EMI CALCULATOR

EMI Calculator

EMI Calculator

Loan EMI

Total Interest Payable

Total of Payments
(Principal + Interest)