TATA Capital Business Loan
Based on 151 Customer Reviews
Published on: February 07, 2018
Based on 151 Customer Reviews
Published on: February 07, 2018
About TATA capital
TATA capital is a subsidiary of TATA sons limited; one of the most diversified and appreciated group of India. It is a Non-Banking Financial Company (NBFC) which offers services in the areas of loans and other financial arenas and caters to their customers across the country through their 100 branches spread nation-wide. Registered as a systematically important Non-deposit accepting NBFC with the Reserve Bank of India, the institution provides various operations across commercial finance, consumer loans and distribution, wealth management along with the marketing of TATA limited cards.
TATA Capital Business Loan
While running a business is a tedious task as there are always ups and downs that a business owner has to face, TATA Capital acts as a special financial institution that can help you when you need help the most. TATA Capital also gives you with an option of choosing what kind of business loan you would need. This helps in rooting the fund in the right direction and boosting your business growth. Be it working capital fund requirements, project funding, short/long term loans for bank overdraft or machinery, TATA capital business loan provides the solution that you are looking for. TATA Capital provides you with a customized loan application process such that its suits any individual’s requirements. Afinoz.com has an exclusive tie-up with TATA Capital. Therefore, applying for TATA Capital business loan through Afinoz.com makes the process of application and approval of business loansfrom TATA Capital much easier and quicker.
TATA Capital Business Loan Types
TATA Capital offers Business loans in 3 types based on the need to facilitate the cash flow as per the business requirements as follows:
- Term loans: These are monetary loans, usually assorted into short-term, long-term and intermediate loans varying in tenure between 1 to 10 years and can also last as long as 30 years in some cases.
- Working Capital loans: Funds used to finance the everyday operations and requirements of a business.
- Overdraft loans: These allow the account holder to overdraw funds from his current account as per agreed terms.
By applying for a business loan with TATA Capital through Afinoz.com, you can facilitate your business needs without having to worry about cash crunch at difficult times.
What is Afinoz?
Afinoz.com is India's foremost online financial marketplace for availing loans and investments. Our main objective is to make the process of getting a loan or making an investment safer, convenient and hassle-free for individuals. We work with public and private banks, NBFCs and mutual fund houses across the entire country and offer an unbiased quotation on financial products. You can contact our team to get more information or apply for a loan or investment by calling on +918795021552 or by emailing at firstname.lastname@example.org. Afinoz.com provides solutions which are quick, reliable, transparent, confidential and above all free.
Features and Benefits of TATA Capital Business Loan:
With TATA Capital business loan you can take advantage of Flexible EMI plans, overdraft facilities, higher loan amount and flexible tenure options. The following are the various features and benefits which a customer can avail when applying for business loans to fulfill their business financial needs:
- No Guarantors/Collaterals- TATA Capital business finance enables you to avail a hassle-free business loan without guarantor or collateral.
- Flexible EMI Options - TATA Capital allows you to plan your EMI's for your business loan based on the state of your finances, capital requirements and growth plans for your business. It provides easy repayment options through ECS (Electronic Clearing Service)/auto debit/PDC (Post Dated cheques).
- Pre-approved Offers for existing customers - If you are an existing customer, then TATA Capital provides you with exclusive pre-approved offers as per your eligibility on business loans.
- Online Account Access - You can access and keep track of all the information such as your repayment track, EMI schedule, etc. regarding your business loan online.
- Quick Processing and Disbursement - Once you submit your application along with relevant documents, your business loans are usually approved within 3 working days.
- Attractive Business Loan Interest Rates - TATA Capital provides a complete transparency with respect to the business loan interest rates so that you can plan your business finances better.
- Quantum of Loan - The maximum amount of business loan you can avail from TATA Capital is up to Rs. 50 lakhs
- Guarantee - Avail commercial loans without any additional collaterals or guarantors
- SME & MSME Loans - You can get loans to fund your small or medium-sized business enterprises using TATA Capital's SME & MSME (Micro and Small and Medium Enterprises) loans
- Business Loan for Women Entrepreneurs - Women entrepreneurs get the benefits of lower interest rates on business loans along with flexible repayment schemes.
- Very low repayment charges
- Zero hidden charges
TATA Capital business loan eligibility and TATA Capital business loan interest rates can be easily evaluated through and seen on Afinoz’s website. If there is any query about TATA Capital business loan application, you can log on to afinoz.com or give us a call at +918795021552 or mail us at email@example.com and get all the solutions at one go.
TATA Capital Business Loan Eligibility Criteria
Eligibility for TATA Capital business loan is decided on the basis of certain parameters. A loan seeker must come under the below-mentioned eligibility criteria to avail business loan from TATA Capital:
- Individuals whose businesses are constituted as any one of the following are eligible to apply for a business loan from TATA Capital:
- Self-employed Professional/ Non-professional
- Sole Proprietorship Firm
- Partnership Firm
- Private Limited Company
- Closely held Public Limited Company
- Trusts and Societies
- Hospitals, Nursing Homes, Diagnostic Centers, Pathological Labs
- Age limit: Minimum age at the time of application of loan should be 25 years; Maximum age at the time of maturity to be 65 years
- Work Experience: Salaried individuals should have an overall employment stability of minimum 2 years whereas, minimum 2 years of experience in the current line of work for Self-employed individuals
- Loan amount: borrowers can avail a minimum loan amount of Rs. 50,000 to a maximum of Rs. 50 lakhs as per their business requirements
- Business Continuity: The business should have been well-established and should be up and running for more than 3 years
- Turnover: The gross income of the company should range from at least Rs. 30 lakhs to Rs. 40 lakhs per year
- CIBIL score: Loan approval will be difficult if your CIBIL score is low. In some cases, even if your credit score is low, but your business is doing good then your loan application might get approved, but you might be asked to pay a high-interest rate and will be offered many unfavorable terms and conditions on your loan.
- TATA Capital business loan eligibility calculator: Using the business loan EMI calculator and business loan eligibility calculator at Afinoz.com, you can easily calculate the exact amount of your monthly instalment and your eligibility as per your potential.
TATA Capital Business Loan Documents Required
For obtaining a business loan from TATA Capital, a borrower has to produce relevant documents according to their business profiles to receive maximum loan amount. The documents required for availing business loan are basic and include:
- Application form
- 2 passport-sized photographs
- PAN card - For applicant/co-applicant/guarantor
- Address Proof - For entity, partners/proprietors/directors, security providers and guarantors
- ITR returns for two years certified by an authorized CA
- P/L statement and balance sheet for two years
- 6-month bank certified bank statement
- Business Ownership documents
- Proof of business loan documents issued by statutory authorities
- Other Mandatory Documents (Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)
Tata Capital Business Loan Interest Rates
18% ( Up to 50 lakhs )
24% ( Above 50 lakhs )
1 YEAR TO 3 YEARS
1 to 1.5% of the total loan amount + Service Tax
Subject to a minimum amount of Rs. 1,000
No prepayment permitted until the repayment of minimum 6 months EMI
4.5% of the Principal Outstanding + Service Tax
No Dues Certificate/ No Objection Certificate(NOC)
2 % of business loan amount or Rs. 5,750 whichever is higher
Special Note: Rates are subject to periodic change. Business loan interest rates in TATA Capital and other fees and charges are subject to regular review and can vary from customer to customer depending upon a number of factors ranging from credit score, to existing loans, amount of savings, company with which you are currently employed, number of years of relationship with TATA Capital, etc.
Why should you apply for a TATA Capital business loan through Afinoz?
Afinoz.com is India's leading personalized financial marketplace. We have created a business loan platform which lets you choose the best business loan that meets your requirements from the multiple options that are available to you:
- Instant Approval – Once you fill in and submit the application form along with the relevant documents, you will get your e-approval within 3 business days.
- Real-time application tracking - Keep track of your application status in real-time with a unique transaction id which is generated at the time of loan application submission on our website. We ensure that all the applicants are kept informed about their application process at each step via SMS and emails.
- Online eligibility check - Do all your dealings with the bank online. You have to provide your basic information and our online business loan eligibility calculator will let you know the amount of loan you are eligible to borrow from TATA Capital for financing your business.
- Secure Environment - Afinoz.com has built-in security for your personal information which is stored in a secure environment on our system with your consent. This information is then sent to the bank in an encrypted format digitally and is very secured and scripted.
- 24/7 Customer Service - At any stage of the process if you have any query or seek any financial advice, our experienced and well-trained customer service team will offer the best financing/investment solutions to your problems. So there's no need for you to waste time and make multiple trips to any bank, NBFC or financial institution to discuss the various terms and conditions.
- No third-party agent –Afinoz.com online loan application process is free of any unwanted expenses and delays. One can approach a bank online directly through Afinoz.com without approaching any agent.
- Free quotations – Get the best online deals on TATA Capital business loans and free unbiased quotes on business loan interest rates. All you have to do is to select the loan amount you want to borrow and the tenure you want it for. You will get a targeted online quote within minutes of application.
How to apply for TATA Capital business Loan on Afinoz?
TATA Capital has an exclusive tie-up with afinoz.com. If you are looking for a business loan then you can simply log on to Afinoz.com to check your business loan eligibility and apply for a loan.
Business owners can apply for a loan in TATA Capital through Afinoz.com in the following three simple steps:
- Check your eligibility for the loan - Firstly, you need to make sure you meet TATA Capital’s business loan eligibility criteria on Afinoz.com. For that, you have to submit some basic details relating to you and your business such as the employment type, business turnover, city, mobile number, email id on our business loan eligibility page. Once you submit these details, our system intelligence then runs an algorithm and get's you a quick quotation on the best business loan options available to you immediately.
- Select the loan amount and tenure - Once you meet the eligibility criteria, select the loan amount and tenure as per your eligibility and submit.
- Upload and submit documents - In the next step, fill out the application form along with details of the KYC documents and submit your application for processing from TATA Capital. The bank then verifies the applicant's information and starts processing the loan for disbursement.
At each step of the application process, Afinoz.com allows it's applicant to keep track of the status of their application in real-time via SMS as well as through emails. Due to such simplified and fast processing, Afinoz.com has become a popular option among a larger number of business owners.
Query - Can I repay my TATA Capital business loan early?
Reply - Yes, you can pre-pay your business loan after a period of 6 months or repayment of 6 EMIs whichever is earlier or as per the terms and conditions stated by TATA Capital. In case you want to prepay your loan before 6 months, a small prepayment fee will be charged by the company.
Query - Can I check my TATA capital Business Loan status?
Reply - If you have applied for your TATA capital business Loan through Afinoz.com, then all you need to do is to fill the TATA capital business loan application details on our website and get your loan status at real-time via SMS and emails or you can log into your account on ourwebsite with your Afinoz loan application ID and check your loan status.
Query - How much time will it take to get the loan disbursed?
Reply - Once you fill in and submit the application form online on Afinoz.com, the bank will take 2-3 business days to process and disburse the business loan amount. The sole approval of the loan depends exclusively on the bank.
Query - How can I find out if I am eligible for the TATA Capital business loan?
Reply- Afinoz.com provides you with an eligibility calculator called business loan eligibility calculator which you can use to determine your eligibility for the loan. It will also tell you the amount that you are eligible to obtain from the bank.
Query- What is the maximum amount of business loan that I can avail?
Reply- TATA Capital provides a minimum amount of Rs. 3 lakhs up to the maximum amount of Rs. 50 lakhs as per your needs and your eligibility.
Query-Do I need to provide any security for availing business loan from TATA Capital?
Reply- TATA Capital does not ask for any kind of security/collateral while applying for a business loan
Query-What is the maximum and minimum loan tenure for a business loan from TATA Capital?
Reply- You can avail a business loan from TATA Capital for a period of 1 to 3 years.
Query- Will my information be safe online?
Reply- Afinoz.com is one of India’s most committed financial platforms which do not share any of its client data with third-parties other than the concerned financial institution/s. All the data is sent online in an encrypted format making it safe and secure at all times.
Query- How do I repay my TATA Capital business loan?
Reply- You can repay your loan in EMI’s (Equated Monthly Installments) in the form of post-dated cheques or Electronic Clearance Service (ECS) or Direct Debit.
Query- How can I track my loan application process?
Reply- You can log onto our website www.afinoz.com with the unique transaction ID provided to you at the time of signup and track your application. You can also track your application process through your registered mobile number and email-Id in real-time.
Query- What is the basis on which the loan limit is decided by TATA Capital?
Reply- Loan amount is mainly decided based on your annual income/earnings and your credit history.
Query-What are the interest rates offered by TATA Capital for a business loan?
Reply- TATA Capital business loan interest rate currently ranges from 18% to 24%
For any query about TATA Capital business loan application, you can log on to afinoz.com or give us a call at +918795021552 or mail us at firstname.lastname@example.org.