Tata Capital Personal Loan Interest Rate
Interest Rate

Starting @ 11.25%

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Processing Fee

Upto 1%

Loan Tenure

1-5 years

Lowest EMI Per Lakh

₹ 2,187 for 5 years

Prepayment Charges

Nil charges for floating rates loans

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Tata Capital Personal Loan Interest Rate

Personal Loans play an important role in meeting lump sum cash needs of an individual without the need for any kind of security or collateral or personal guarantee. A Personal Loan is an unsecured loan and is generally used to meet expenses such as a medical emergency, wedding expenditure, children's education, vacation, sudden loss of income, education, home renovation projects, purchase of consumer durables or similar personal need. A Personal Loan is a double-edged sword in a practical sense. When used prudently, it is a boon and you will be able to meet your urgent cash needs. However, if used in excess and imprudently, it can negatively hamper your credit score that can affect your ability to get any loans in the future.

Since Personal Loans are unsecured in nature and the lender does not have any safeguard in case the borrower defaults, the interest rates charged on Personal Loans are very high. Repayment of a Personal Loan happens through payment of a fixed amount every month called Equated Monthly instalment (EMI). All leading public sector banks, private sector banks, non-banking financial companies (NBFCs) offer Personal Loans with competitive terms and interest rates.

Tata Capital is one of the country's leading NBFCs promoted by India's largest conglomerate Tata Sons. Tata Capital allows you to apply for a Personal Loan online in a convenient and hassle-free manner.

Tata Capital Personal Loan interest rates start from as low as 11.25% per annum. However, for loan applicants belonging to the government, reputed corporates, employees of Tata Group and applicants with a past relationship with Tata Capital attract lower interest rates along with attractive terms and conditions.

Tata Capital Personal Loan Highlights

Some important features of Tata Capital Personal Loan are as below:

Interest Rate

11.25% - 17%

Loan Amount

75,000 - 25 Lakhs

Loan Tenure

12 to 72 months

Processing Fee

Fee varies depending on the loan amount

Pre-closure Charges

4.5% of the principal outstanding + GST

Part Prepayment Charges

Allowed after 6 months at charges of 2% of the amount paid + applicable GST on pre-payment beyond 25% of the principal outstanding

Features and Benefits of Tata Capital Personal Loan

Some of the benefits of taking a Personal Loan from Tata Capital are:

  • Multi-purpose loans to meet various personal financial needs urgently

  • Provides facility for applying for a Personal Loan online with minimum paperwork and documentation.

  • Flexible and multiple repayment options depending on case to case

  • Superior customer service from Tata Capital has been rated 1/5.0by customers for its service quality on MyMoneyMantra.

  • Availability of attractive terms and special schemes for salaried employees of large corporate, government, and the Tata Group.

 Purpose of Loan: Tata Capital Personal Loan is a multipurpose loan for meeting personal expenses. Generally, Personal Loans fund expenses like vacation, children education, medical emergency, and other personal finance requirements. However, Tata Capital does not provide Personal Loans for speculative purposes.

Key Features of Tata Capital Personal Loans

  • Salaried and self-employed individuals can avail Tata Capital Personal Loan

  • Age group of borrowers should be between 22 and 58 years

  • Personal Loan amount starts at a minimum of 75,000 and goes up to a maximum of 25 Lakhs depending on the repayment capacity of the applicant.

  • Personal Loan duration varies from 12 months to 72 months

  • Interest rates for Tata Capital Personal Loan are in the range of 11.25% to 17% per annum depending on credit assessment by our internal team.

  • EMIs start from as low as 1,916 per Lakh.

Pre-closure Charges: Tata Capital offers an attractive option of Personal Loan pre-closure at 4.5% of the principal outstanding + GST.

Part prepayment Charges: Part-payment on Tata Capital Personal Loan is allowed only after 6 months at pre-payment charges of 2% of the amount paid plus applicable GST on pre-payment beyond 25% of the principal outstanding.

Other Charges: Tata Capital has charges like late EMI payment charges, cheque bounce charges, loan cancellation charges, and so on. Tata Capital provides you a statement of all these charges at the time of signing the loan agreement.

 Special Schemes: Tata Capital has a certain category of special borrowers like employees working for the government, large corporates based on an internal list. Loan applicants belonging to these categories are offered Personal Loans at attractive interest rates and favorable terms and conditions.

Tata Capital Personal Loan Top Up

In case you have an existing Personal Loan and suddenly your requirement of loan amount increases, Tata Capital offers an option of Top-up Personal Loan on the existing loan. However, Tata Capital is very particular in offering top-up Personal Loans. You can get a top-up only if you have a regular track record of repaying your existing loan. Interest rates on top-up loans are similar to those of your existing Personal Loan interest rates. Currently, the interest rate on Tata Capital top-up Personal Loan starts at 11.25% per annum.

Factors Affecting Tata Capital Personal Loan Interest Rate

Tata Capital does a thorough assessment of your loan application in terms of loan amount, tenure, monthly salary, and other existing obligations before deciding on your Personal Loan request. Some factors that affect Tata Capital Personal Loan interest rate are:

  • Loan Amount: This is the amount that a loan applicant seeks to borrow from Tata Capital. In general, the interest rates are lower on higher loan amounts. Tata Capital offers Personal Loan amount between 75,000 and 25 Lakhs.

  • Salary: Your net take-home monthly salary is the primary determinant of your ability to repay the Personal Loan. In general, individuals in higher salary bracket attract loans at lower rate of interest since financial institutions consider that the probability of defaults with a higher salary is low. Interest rate of the bank varies with your net monthly income.

  • Employer Category: Tata Capital has an internal list of companies categorised from high quality to low quality depending on the company size, reputation, and existing relationship with Tata Capital. Employees who belong to the high-quality category get attractive discounts and lower interest rate loans than those that belong to a low-quality category.

  • Relationship with Tata Capital: Tata Capital offers special interest rates, attractive offers, and low processing charges to the existing or past borrowers. Those who have managed to make all the payments on time in the past will get the benefit of a low interest rate.

  • Loan Tenure: Tata Capital offers Personal Loans between a flexible tenure of 12 months to 72 months depending on the requirement and repayment capacity of the borrower.

  • Repayment Capacity: Repayment capacity of an individual is one of the important factors governing the loan amount eligibility and the rate of interest on a Personal Loan at Tata Capital. Before giving the loan to the borrower, Tata Capital thoroughly assesses the repayment capacity of the borrower through their CIBIL report that provides the repayment track record of all previous loans taken. CIBIL also captures information of Credit Card bills payment. After analysing the past repayment behaviour of the applicant, Tata Capital arrives at the interest rate that can be offered to them.

Tips to Get the Best Personal Loan Interest Rates

MyMoneyMantra allows you to check your eligibility online without submitting any documents. This will help you determine the interest rates applicable for your profile. After comparing offers from various banks and NBFCs, you can then apply online.

If you decide to take a Personal Loan from a bank where you have an existing bank account, loan disbursement can happen instantaneously without submission of your documents. For other banks, a bank officer will visit your residence and then take the loan application forward.

To get the best possible Personal Loan interest rate, take care of the following points:

  • Compare the rates of a Personal Loan with respect to the loan amount: Higher loan amount may lead to low-interest rate offering. Compare interest rates by keeping the loan amount constant.

  • Check for the best ongoing discount and offers: Various banks and NBFCs offer special discounts and attractive terms for employees of reputed or big companies. Make sure that you check on discounts with the banks and NBFCs before finalising a loan offer.

  • Check for discounts related to the loan tenure: Depending on the asset-liability mismatch, banks offer lower rates on the Personal Loan for a certain loan tenure. One should choose a tenure depending upon loan interest rates.

  • Avoid applying with multiple lenders: Applying for a Personal Loan at multiple banks or NBFCs simultaneously shows that you are in a state of financial distress and lowers your CIBIL rating. It could lower your chance of getting a Personal Loan.

  • Avoid applying for loan amount more than your eligibility: Check your eligibility for a loan amount online on MyMoneyMantra website. Applying for a loan amount greater than your eligibility can lead to rejection of your loan application.

  • Do not rush into taking the loan from your salary bank: Check with several banks and NBFCs about loan terms and interest rates. At times, the loan from a bank where you have a salary account may not be the best suitable option. So, compare before rushing to apply with your existing bank.

Tata Capital Personal Loan: How to Apply

Tata Capital allows you to apply for a Personal Loan online directly from its website. After you enter your details online, their representative will contact you shortly to take you through the entire loan process.

There is however a very convenient way to apply to a Personal Loan, i.e., through MyMoneyMantra, a leading online lending marketplace. As soon as you complete the application form online on the MyMoneyMantra website for Tata Capital Personal Loan, your application will be processed and a representative from Tata Capital will contact you instantly to take the process forward. That is not all. MyMoneyMantra assigns a Personal Loan advisor to you to ensure that your loan is processed faster and you get the best interest rates on offer by Tata Capital depending on your eligibility profile.

MyMoneyMantra helps you compare the Personal Loans Interest rates and other charges online to make sure that you are getting the best possible interest rate.

Tata Capital Personal Loan - Documents Required

The following documents need to be submitted for availing the loan.

  • Photo ID Proof: A copy of Aadhaar Card/ Passport/ Driving License/ Voter's ID Card

  • Residence Proof: A copy of Passport/ Ration Card/ Electricity Bill

  • Income Proof: Salary slips for the last 3 months and last 6 months' bank statement

  • Job Stability Proof: A certificate mentioning 1 year of continuous employment

Tata Capital Personal Loan Charges

In addition to the interest rate, a borrower also needs to compare other charges, terms, and conditions before finalising a Personal Loan offer. Some banks or NBFCs offer lower interest rates but have high other charges and vice versa.

Some of the charges associated with the Tata Personal Loan are as given below:

  • Part Payment Charges: Tata Capital allows part pre-payment of the loan if it is done after payment of 6 EMIs at charges of 2% of the amount paid plus applicable GST on pre-payment beyond 25% of the principal outstanding.

  • Pre-closure Charges: These are the applicable charges in case you wish to foreclose your Personal Loan before the completion of the loan tenure. Tata Capital allows pre-closure of Personal Loan at pre-closure charges of 4.5% of the principal outstanding plus GST.

  • Processing Fee: Processing Fee for Tata Capital Personal Loan varies depending on the loan amount.

  • Payment Delay Charges: 2%
  • Charges for Post Dated Cheques: 850
  • Cheque Bounce Charges: 450
  • Loan Cancellation Charges: 2% of the loan amount or 5,750 (whichever is higher)

  • Charges for Swapping Cheque: 600

  • Pre-closure Charges for Top Up Loan:25% on the future principal outstanding on the existing loan plus GST

FAQs on Tata Capital Personal Loan

Why take a Personal Loan from Tata Capital?

Answer - Attractive interest rate of 11.25% and above, EMI starting from as low as of 1,916 per Lakh, top-up loan facility, availability of the pre-payment and foreclosure of the loan, are some reasons to choose Tata Capital Personal Loan.

How much interest is charged by Tata Capital on a Personal Loan?

Answer - Personal Loan interest rates by Tata Capital are in the range of 11.25% to 19% per annum. However, a special category of borrowers can get lower interest rates and better terms. 

What is the lowest EMI per Lakh on a Personal Loan from Tata Capital?

Answer - EMIs at Tata Capital Personal Loan start from as low as 1,916 per Lakh.

What are the minimum and maximum tenures of Personal Loan in Tata Capital?

Answer - Tata Capital provides flexible loan tenures from a minimum 12 months to maximum 72 months.

How much Personal Loan amount I can borrow from Tata Capital?

Answer - Personal Loan amount by Tata Capital varies from a minimum of 75,000 to a maximum amount of 25 Lakhs depending on the eligibility of the applicant.

Is age an eligibility factor to get a Personal Loan from Tata Capital?

Answer - Yes, you should be at least 22 years old at the time of loan application and 58 years old at loan maturity.

Can I add my spouse's income while applying for a Personal Loan from Tata Capital?

Answer - Yes, you can add your spouse's income to your income to increase your loan eligibility.

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