TATA Capital Personal Loan Details

Highlights of TATA CAPITAL Personal Loan:

Loan amountRs. 75000 to Rs 25 Lakh
Rate of interest10.99% p.a onwards
TenureUp to 6 years
Lowest EMI possibleRs. 2,174 Per Lakh
Processing feeUp to 2.75% + applicable tax

 

TATA Capital Personal Loan: Features

Let’s list out features of Tata Capital Personal Loan and understand the USP of the product. It will help you understand suitability of the loan for your individual needs.

  • Amount: Tata Capital Personal Loan is a highly flexible bank product. You can apply for Rs 75000 to Rs 25 Lakh as per your needs. 
  • Personal Loan Top-up: This is one of the striking features. If you have Tata Capital Personal Loan, you are preapproved for a Top-Up Loan after payment of successful 8 to 18 EMIs.
  • Overdraft:  Furthermore, if you maintain repayment schedule you can also avail of preapproved overdraft limit for urgent cash lapses along with your Tata Capital Personal Loan. You would not need to apply for another loan. 
  • Interest Rate: The Tata Capital Personal Loan Interest Rates are strictly in lines with the market standards. You can avail a Personal Loan starting from 10.99% p.a. You get enough flexibility to choose the repayment structure according to your financial health.
  • Tenure: Stepping ahead of competition, Tata Capital offers Personal Loan for an extended tenure of 6 years. 
  • EMI: You can use Tata Capital Personal Loan Calculator to choose the loan EMI according to your repayment capacity. Presently, lowest EMI for Tata Personal Loan will be Rs 2174 for Rs 1 Lakh loan.
  • Unsecured Loan: You do not require Loan Security, Guarantor or Collateral for Tata Capital Personal Loan as it is an unsecured product.
  • Foreclosure Charges: Pre closure or foreclosure of Tata Capital Personal Loan will entail 4.5% charge of the principal outstanding. While foreclosure of top-up will attract 2.5% of the principal. So know about all charges before signing up for the loan. 
  • Processing Fee: The processing fee is non-refundable and varies according to the loan agreement. Tata Capital, in general, levies processing fee up to 2.75% of the loan amount.
  • Repayment Method: Most NBFCs prefer auto debit or ECS facility, and so does Tata capital. For special cases, you may be allowed to pay with post-dated cheques.

Tata Capital Personal Loan: Eligibility

Tata Capital Personal Loan is tailored according to customer needs. To ensure best customer experience, eligibility criteria is easy to meet. Let’s take a quick look at Tata Capital Personal Loan eligibility requirements below:

Eligibility for Salaried & Self Employed Individuals-

  • Age: 22 to 58 years
  • Minimum Fixed Monthly Income: Rs 15,000
  • Minimum Work Experience: At least 1year 
  • To avail the best rate of interest, credit score should be above 750. Furthermore, the lender will assess multiple factors such as fixed monthly income, age, nature of employment, CIBIL score, professional experience & alike for quoting the final rate of interest.
  • The lender will verify your details by looking into your PAN, CIBIL report & KYC documents.
     

Documents Required for Tata Capital Personal Loan

Before you fill the application form for Tata Capital Personal Loan, make sure you have following documents handy.

  • Duly filled application form 
  • 3 passport size pictures
  • Identity Proof 
  • Address Proof 
  • Income Proof 

Here is the list of Tata Capital Personal Loan Documents you would require while submitting the loan application: 

Documents for Salaried IndividualsDocuments for Self Employed Individuals

 

Any one of the Identity Proofs:
Aadhar Card/ PAN/Voter’s ID/ Passport/ Driving License

 

Any one of the Address Proofs:
PAN/ Utility Bills like Electricity Bill etc/ Ration Card/  Passport

 

Proof of Income:
1.Bank Statements for last 3 months

2.Salary Slips for last 3 months

Anyone  of the Identity Proofs: 
Aadhar Card/ PAN/Voter’s ID/ Passport/ Driving License

 

Any one of the Address Proofs:
PAN/ Utility Bills like Electricity Bill etc/ Ration Card/  Passport

 

Proof of Income & Existence of Business:
1. Tax Registration copy/ Company Registration License/ Shop Establishment Proof

 

2. Bank Account Statements for Savings & Current Accounts  for past one year

 

3. Income Tax Returns for last year

Tata Capital Personal Loan Charges
 

Make note of schedule of charges along with interest rate and processing charges before applying for a Personal Loan. Here is the detailed list of fees and charges for Tata Capital Personal Loan: 

SUBJECTFEES & CHARGES
Interest Rates (Per Annum)Starts from 10.99% 
Processing FeesUp to 2.75% +GST
Pre-Closure Fee*Up to 4 %  +GST
Part Payment Fee*Prepayment allowed after 6 months
*NIL up to 25%
*Up to 2% for 25-50% prepayment
Penal Interest/ Additional Interest3% on Overdue amount per month + GST
Bounce ChargesRs. 600 for each instance + GST
Mandate Rejection Service ChargeRs 450+ GST
Loan Cancellation Charges2% of loan amount or Rs. 5,750, whichever is higher + GST
Instrument Swap ChargesRs 550 +GST
Duplicate Repayment Schedule*Soft Copy – Nil 
*Branch Walk-In – Rs. 550 + GST
Duplicate NOCRs. 550 + GST
Post-Dated Cheque ChargesRs. 850 + GST

How to Calculate Tata Capital Personal Loan EMI?
 

Before applying for Tata Capital Personal Loan, you should use MyMoneyMantra EMI Calculator (under Financial Tools section on Home Page) and find out the suitable instalment plan. Using this calculator you can finalise tentative loan tenure, amount and EMI. 

It will help you estimate: 1) Loan EMI, 2) Total Interest Payable, 3) Total Payments (Principal + Interest). You will also get amortization schedule for the loan.

This way, you can make an informed decision. In case you require help for the same, contact our Loan Expert and get assistance online. 

Let’s take an example on how to use the Personal Loan EMI Calculator: 

Input:
Loan amount required: Rs. 5 Lakhs

Tenure of repayment: 5 years

Interest Rate applicable: 10.99% p.a.

As you submit the above information, the calculator will give results: 

EMI to be paid each month: Rs. 10,869

Total interest outgo: Rs. 1,52,123

Total amount to be paid: Rs. 6,52,123

You will also get the detailed amortization schedule.

You can also access Tata Capital Personal Loan EMI Calculator before making the final decision.

How to Apply for Tata Capital Personal Loan on MyMoneyMantra?

Follow these simple steps to apply for Tata Capital Personal Loan on MyMoneyMantra Platform. It is easy, fast and reliable.

  • Visit Home Page.
  • Click on Personal Loan
  • Fill the form. Share loan requirement and personal details. You will be required to share your name, desired loan amount, loan tenure, city of your residence, employment type, income, & contact information.
  • An OTP (one time password) will be generated and sent to the mobile number shared in the above step. 
  • Use this OTP to visit the list of most suitable Personal Loan products for your profile. 
  • You can compare various deals and apply for the Best Personal Loan. Alternatively, go directly on Tata Capital Personal Loan and click on Apply or eConnect with Bank button.
  • Following up on your request, a loan representative will call you and take you further on this request. 
  • She will detail you about next steps and documentation and guide you till the disbursement. 
  • Kindly note that MyMoneyMantra’s Loan guidance is free of cost and there is no charge to apply for loan via this website.

Tata Capital Personal Loan: Verification Process
 

After you fill the Personal Loan Application on MyMoneyMantra, your request is instantly processed. Here are the steps forward-

  • When you apply online through MyMoneyMantra, your request is directed to the lender.
  • A loan rep from TATA CAPITAL will call you for verifying the mentioned details.
  • Share your consent and verify the details. 
  • Following this, all the required documents will be picked from your location.
  • Now lender will verify the documents before sanctioning loan.
  • The bank will call you for final consent and present loan agreement detailing loan amount, Personal Loan Interest Rate, and Repayment Tenure.
  • Once acknowledged re a signature, the loan amount will be disbursed into your bank account.

Tata Capital Personal Loan - Customer Care


For queries & feedback use following modes:

  1. Use Tata Capital Customer ID & Password to access portal & mobile app for quick resolution of your loan related queries. All account related details can be access from customer portal.
  2. CUSTOMER CARE NUMBER:  Call 1860 267 6060 
    (between 9 am to 8 pm,  Monday to Saturday)
    (Service not available on Sundays and public holidays.)
  3. For Personal Loan related queries write email to: customercare@tatacapital.com
  4. Mail: You can write your posts to: 

    Tata Capital Financial Services Limited
    REGISTERED OFFICE

11th Floor, Tower A, Peninsula Business Park, 
Ganpatrao Kadam Marg, Lower Parel, 
Mumbai – 400013

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Tata Capital Personal Loan FAQs

✅ Why Tata Capital is the best lender for Personal Loan?

Tata Capital Personal Loan is the best choice for a borrower that is looking out for a customised unsecured loan with minimal eligibility hassles. The loan is available for extended tenure of 6 years with flexibility to choose the repayment structure as per their financial situation. Besides, there is no part prepayment charge after six months of successful servicing of loan.

✅ How does eligibility for Personal Loan calculated?

Your Personal Loan eligibility is calculated on the basis of your debt to income ratio. The bank/ NBFC factors in the ratio of your fixed obligations such as existing EMIs & Credit Card Bills to monthly income. As a rule of thumb, the fixed obligations should be less than 50% of net monthly income. However, only for very high income groups, this ratio can go much higher.

✅ How does Tata Capital calculate EMI on Personal Loan?

Tata Capital calculates EMI on daily/ monthly reducing balance method so that the customer can save maximum on interest component. Also you can choose from two repayment options- standard EMIs and Flexi EMIs. There is enough repayment flexibility and calculation is incurred as per the chosen method by the customer.

✅ Can I apply for Personal Loan for more than 5 years?

Extended loan tenure is the USP of Tata Capital Personal Loan. While most lenders offer Personal Loans up to 5 years, Tata Capital offers Personal Loans for up to 6 years. If you are seeking a loan for longer tenure, Tata Capital is the right choice for you.

✅ For what all purposes can I apply for Tata Capital Personal Loan?

You can apply for Tata Capital Personal Loan for multiple purposes; there is no capping on end-use. You can avail of loan for travel, education, home improvement, wedding, big ticket purchases and many more requirements. However, RBI discourages borrowers to apply for loan for speculative reasons and Gold Purchase.

✅ How to get instant approval for Tata Capital Personal Loan?

If you need urgent Personal Loan and want instant approval, make sure you apply online. When you apply digitally for Personal Loan, the application is processed instantly and the loan is approved and sanctioned in the fastest possible time.

✅ How long does it take Tata Capital Personal Loan to get disbursed?

Tata Capital processes Personal Loans on the same day to up to 5 days. The processing timeline depends on the status of documents submitted by you.

✅ How to apply for Tata Capital personal loan?

To apply for Tata Capital Personal Loan, click on Apply Now or Button on MyMoneyMantra and your loan application will be instantly accessed by the lender. As you submit the documents online, the sanction is also faster online. 

✅ What is Minimum Credit Score to avail Personal Loan?

To avail personal loan at attractive rate of interest your Credit Score should be at least 700. However those who have lower than 700 score should use professional advice to choose the best lender and best rate.

✅ How to apply for Personal Loan with low Credit Score?

To apply for Personal Loan with low Credit Score, you should use certain hacks to improve your credit eligibility. This will help you avail the better rate despite low score. For instance, you can add a co-applicant, guarantor or collateral.

✅ How to close Tata Capital Personal Loan?

To close the Tata Capital Personal Loan you need to visit the brach. Provide the receipt of preclosing the loan. Do carry loan documents i.e. loan approval letter & loan account statement. Carry a photo ID and submit the request with all the documents.

✅ Can I apply for Personal Loan Balance Transfer & Top Up?

Yes, Tata Capital allows you to apply for Balance Transfer & Top UP. However the approval depends on your eligibility for the same which is based on your repayment history and relationship with the lender.