Tata Capital Personal Loan Interest Rate @10.99%

Tata Capital Personal Loan Interest Rates

Personal loans are unsecured loans that can be used for any purpose. It could be for medical emergencies or for planning a holiday. The Personal Loan Interest Rates are one of the major determinants based on which the EMI will be fixed.

Tata Capital EMI Calculator

Using the EMI calculator, you can know the best tenure to help you arrive at the pocket-friendly EMI for the loan amount you intend to avail of.

Also check TATA Capital Personal Loan Customer Care service.

How to Get the Best Offer on Tata Capital Personal Loan?

Tata Capital Personal loans are available at an interest rate that starts at 10.99% p.a, which is the most competitive at present. The interest mainly depends on the income, loan amount and credit score. You can get the best offer on Tata Capital Personal Loan if you follow some of the tips as mentioned below:

Maintain a good credit score

A credit score is an image booster as far as loans are concerned. If you have a credit score of 750 and above, you will be the most powerful contender in the credit scenario and will be the most sought after by financial institutions. You will get the best offer since you will be categorised as a low-risk borrower who has a good credit repayment history.

Maintain a good rapport with the lender

If you are an existing customer of Tata Capital and have a good track record, you can negotiate for a good deal.

Add a co-obligant

You can get a better deal if you have a higher income. To show an improved income, you can add a co-obligant with a steady income to the personal loan.

Improve the debt to income ratio

A good level of debt to income ratio shows your repayment capacity. To improve the debt to income ratio, you will have to clear some of the existing loans whose EMI is sourced from the present income. A debt to income ratio of 40% to 50% is considered satisfactory, and anything above the acceptable level will fetch you the best offer.

Tata Capital Personal Loan Fees and Charges

The Tata Capital Personal Loan Charges are as mentioned below.

Type of Charges	Amount
Processing charges	2.75% of the loan amount along with applicable GST
Overdue penalty	3% of the overdue amount per month along with applicable GST
EMI/Cheque bounce charges	Rs.600/- plus applicable GST for every EMI or cheque bounce
Service charges for mandate rejection	Rs. 450/- Where there is no active mandate after the PDCs are exhausted. This will be applicable on the due date of EMI every month till an active mandate is generated
Annual Maintenance Charges for CCOD	0.25% of the sanctioned dropline limit or Rs. 1000/- whichever is higher. It will be deducted from the limit and will be collected at the end of the 13th month.
Outstation collection charges	Rs. 100/-plus applicable GST
Passheet charges	None, if it is a soft copy. Else, Rs. 550/- plus applicable GST
Instrument swap charges	Rs. 550/- + applicable GST
Repayment schedule (duplicate)	None for a soft copy. Otherwise, Rs. 550/- + GST
Duplicate NOC	Rs. 550/- + GST
PDCs	Rs.850/- + GST
Foreclosure charges	There is a lock-in period of 6 months for foreclosure. If closed after 6 months, foreclosure charges of 4.5% of the outstanding principal amount plus GST. If foreclosed within six months post-part-prepayment, then 4.5% of the outstanding principal amount + GST plus the part pre-payment amount.
Top -up loan foreclosure charges	2.5% of the outstanding principal amount plus GST if the current interest is higher than the new rate. If foreclosed during the lock-in period, the charges will be 4.5% of the outstanding principal amount plus GST
Foreclosure charges for overdraft facility	4.5% of the overdraft limit plus GST. 2% over and above the regular charges if the limit is closed during the lock-in period.
Foreclosure letter	None for softcopy. Rs. 199/- plus tax for hardcopy

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Tata Capital Personal Loan Interest Rates FAQs

Is Tata Capital good for personal loans?

Tata Capital Personal Loans are one of the best personal loans available in the market at present. With the multiutility option, Tata Capital Personal Loans can be the best option to relieve you of any kind of financial stress. It could be a medical emergency or a business expansion, you can take a resort to Tata Capital for funding. The quick disbursal, simple documentation, attractive interest rates that start at 10.99% p.a.are additional features that make the personal loan most lucrative.

What are the processing charges for Tata Capital Personal Loan?

The processing charges for Tata Capital Personal Loans are 2.75% of the loan amount plus applicable GST.

What are the foreclosure charges for Tata Capital Personal Loan?

Foreclosure is not permitted within the first six; you months of availing of the loan.

If foreclosed after six months, the charges will be 4.5% of the outstanding principal liability at the time of foreclosure plus applicable GST.
If foreclosed before six months and after part pre-payment, the charges will be 4.5% of the outstanding principal liability plus GST plus the part pre-payment amount.
For the foreclosure of a top-up loan, the charges will be 2.5% of the loan amount plus GST if the existing interest rate is higher than the new rate. If the foreclosure is done during the lock-in period, an additional 2% will be charged over and above the regular charges.
For the overdraft facility, the charges will be 4.5% of the dropped down limit plus applicable taxes. If foreclosed within the lock-in period, 2% over and above the regular charges will be collected.

How do I track the status of my Tata Capital Personal Loan?

You can check Tata Capital Personal Loan status online through internet banking or the mobile app.

You can access internet banking using the email ID/registered mobile number or user ID and password. Once you access internet banking, you can track the status of your Tata Capital Personal Loan.

You can also check the status of the personal loan application through the Tata Capital Mobile app.

How does Tata Capital calculate EMI on a personal loan?

You can calculate the EMI using the Tata Capital EMI calculator. All you have to do is input the interest, loan amount, and tenure. The EMI will be displayed along with the amortisation schedule that gives a break up of the interest and principal payable by the end of the tenure.

Tata Capital calculates the EMI using the formula EMI = P × r × (1 + r)n/((1 + r)n - 1) where P is the Loan amount, r is the interest rate, n is the tenure in the number of months.

How much loan can I get from Tata Capital if my salary is 25000?

You can get a loan of Rs. 75000/- to Rs. 25.00 lakhs for a salary of Rs. 25000/-. The loan eligibility depends on various factors like your income, debt to income ratio, credit score and the tenure chosen for the repayment.

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