Description

About the 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 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 company provides various operations across commercial finance, consumer loans, and distribution, wealth management along with the marketing of TATA limited cards.

TATA Capital Personal Loans

Tata Capital offers various financial products and services to its customers, one of which is personal loans. In need of funds at a short interval, a person can turn to Tata Capital to avail a low cost personal loan for various needs ranging from wedding arrangements, medical emergencies, leisure holiday trips, home renovation and many others. Tata Capital personal loans can be availed for a longer tenure and up to a maximum loan amount of ₹ 25 Lakh.

Why Choose Tata Capital Personal Loans?

As we all are aware that Tata Capital is one of the leading NBFC lenders in the market and they offer various features that differentiate it from the rest. Some of the main reasons to choose Tata Capital Personal Loans are as follows:

Multipurpose Loan: The Tata Capital Personal loan highly customized for all your personal needs, the amount can be used for various purposes including a medical emergency, education funds and others.

No Security: Tata Capital Personal loan can easily be availed without providing any security or collateral against the loan amount.

Over-draft Facility: Under this facility, Tata Capital Personal Loan allows its customers to borrow an additional amount up to a permissible limit in case of an emergency. The interest is calculated on the amount withdrawn, not on the amount permitted. 

No Cost Pre-payment: Tata Capital Personal Loan comes with no-cost foreclosure or pre-payment of the loan amount. However, only a portion of the outstanding amount can be repaid at a time.

Increased Loan Tenure: Tata Capital enables its customers to avail the funds at the least possible cost, to ensure the same, they offer the loan repayment period up to 6 years for a large amount of loan.

Instant Approval: Tata Capital provides an online application feature to all its customers, where one can easily submit the documents and get the loan processed online in no time.

Interest Rate & Charges of Tata Capital Personal Loan

Tata Capital Personal Loan come with an attractive rate of interest, at 10.99% per annum, it is one of the lowest rates on offer in the market, also in addition to it, the charges levied on the loan processing and during the tenure of the loan are also less as compared to other prominent lenders.

Particulars

Key Details

Rate of Interest

10.99% to 18.00% p.a.

Processing Fee (PL)

Up to 2.5% of the Loan amount + Tax

Prepayment Charges

  • Part pre-payment after successful submission of 6 EMIs 
  • 2% on the outstanding amount beyond 25% of principal outstanding

Penal Charges

3% on the overdue amount per month

Payment Dishonor

₹ 600/- per Incident

Duplicate Statement

₹ 250/- + Tax per event

Swapping Charges

₹ 550/- + Tax per event

Duplicate No Dues Certificate

₹ 250/- + Tax per event

Loan Re-booking/ Rescheduling Charges

₹ 1000/- + Tax per event

Loan Cancellation Charges

2% of the loan amount or ₹ 5750/- whichever is higher

Outstanding Collection

₹ 100/- + Tax

Stamp Duty

As per State tariffs

CIBIL Report

₹ 50 per instance + Tax

Special Note: Rates are subject to periodic change. Personal 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.

Compare Banks 

Banks                                         Interest Rate Max.Loan Amount Processing Fee Loan Tenure Foreclosure Charges
IIFL 13% 25 Lakh 2%+GST 12 months to 60 months 2% compounded annually
TATA Capital 11.25% 20 Lakh 2.5%+GST 60 Month 3% on Overdue Amount per month + GST
Axis Bank 10.99% to 20% 15 Lakh 1.50% to 2.00% + GST 60 Month 2% per month on the overdue installment
HDFC Bank 11.25%-18% 50 Lakh upto 2.5 % 60 Month Allowed after 12 EMI's, 2-4%
ICICI Bank 11.25% 30 Lakh 2.25 % + GST 60 Month 24 % p.a on the amount outstanding from the date of default
Aditya Birla 14%-26% 50 Lakh 2% of the loan amount 60 Month 2% per month
Indusind Bank 11.25% 25 Lakh 2.5% + GST 60 Month Rs 150/- plus taxes, Per EMI delay beyond 5 days

Eligibility & Document Required of Tata Capital Personal Loan

To apply for a Tata Capital Personal Loan, an applicant is required to be eligible for the same, in order to experience hassle-free and easy approval of their loan amount. The eligibility criteria as prescribed by the company are as follows:

For Salaried:

Eligibility Criteria

Key Features

Profession

Salaried person

Employer Type

  • Employees of Private and Public Companies
  • Central / State Government Organization
  • Central / State PSUs
  • Salaried Doctors/ Chartered Accountants

Applicant Age

21 - 58 years

Minimum Eligible Income

₹ 20,000 per month

Maximum Eligible Term Loan

₹ 75,000 to ₹ 15 Lakh 

Minimum Work Experience

Minimum 24 months in total, Min. 12 months in the present organization

Loan Tenure

12 months to 72 months

For Self-employed Professionals:

Eligibility Criteria

Key Features

Profession

Self-employed Doctors, Engineers, Consultants, Architects & Chartered Accountants

Applicant Age

25 - 65 years

Minimum Eligible Income

₹ 2,00,000 per annum

Maximum Eligible Term Loan

₹ 3,00,000 to ₹ 20 Lakh 

Minimum Work Experience

Minimum 3 years of Post-qualification work experience

Loan Tenure

12 months to 48 months

For Business Owners:

Eligibility Criteria

Key Features

Profession

Proprietors, Partners in a Firm, Director of a company

Applicant Age

25 - 65 years

Minimum Eligible Income

₹ 2,00,000 per annum

Maximum Eligible Term Loan

₹ 75,000 to ₹ 15 Lakh

Minimum Work Experience

(Age of Business)

Minimum 3 years of Post-qualification work experience

Loan Tenure

12 months to 48 months

TATA Capital Personal Loan Documents Required

Tata Capital Personal loan is offered or approved once the required set of documents are submitted and duly verified. However, the list of the documents required is very simple and only requires documents related to monthly income disclosure and residential documents.

The list of the documents is as shown in the table:

For Salaried –

Particulars

Details

Application

Application Form duly filled and signed

Proof of Identity(Any of these)

Copy of Passport/Driving License/Copy of Aadhar Card/Copy of Voter ID Card

Proof of Residence

Registered Rent Agreement (Min. 1 year of stay)/Utility Bills (For the last 3 months)/ Life Insurance Policy

Proof of Incomes

  1. ITRs for the last two Assessment years
  2. Salary slip for the last 6 months
  3. Bank Statement for the last 6 months
  4. Passbook statement for the last 6 months

Loan Agreement

The duly signed Loan agreement document

Repayment

Post Dated Cheques (PDCs)/ Standing Instruction Request Form/ ECS Form/ Security Cheques duly signed

For Self-employed and Business Owners –

Particulars

Details

Type

Self-employed Individuals

Business Owners

Application

Application Form duly filled and signed

Application Form duly filled and signed

Proof of Identity

(Any of these)

Copy of Passport/Driving License/Copy of Aadhar Card/Copy of Voter ID Card

Copy of Passport/Driving License/Copy of Aadhar Card/Copy of Voter ID Card

Proof of Residence

Registered Rent Agreement (Min. 1 year of stay)/Utility Bills (For the last 3 months)/ Life Insurance Policy/ GST Certificate

Leave and License Agreement/Ration Card/Trade License/ Utility Bills (For the last 3 months)/ GST certificate

Proof of Income

  1. ITRs for the last two Assessment years
  2. Audited Balance Sheet for the last 2 years (with schedules)
  3. Profit and Loss account Statement for the last 2 years
  1. Business Current Account Statements (Latest 6 months bank passbook)
  2. ITRs for the last two years along with income computation
  3. Audited Balance sheet and P/L accounts

Loan Agreement

Duly signed Loan agreement document

Duly signed Loan agreement document

Repayment

Post Dated Cheques (PDCs)/ Standing Instruction Request Form/ ECS Form/ Security Cheque duly signed

Business continuity proof (Trade license/ establishment), Standing Instruction Request Form

Qualification Proof

Qualification or Registration Proof required for Practicing Doctors/Architects/Chartered Accountants/Company Secretary/ICWA and others

Sole proprietorship declaration/ Certified copy of partnership deeds/ Copy of MOA, AOA/ Details of partnership deed and income statements

Features and Benefits of Tata Capital Personal Loan

Tata Capital Personal Loan can be used for various reasons, if in case a person is going through any financial insufficiency at some point in your life, whether there is a requirement of funds for consumer durables or an immediate need for a quick check-up, then applying for a personal loan is the best available option to make your ends meet for immediate funds. Tata Capital personal loan is one of the most exclusive and a top-pick personal loan facility. You can easily finance funds for home renovation, wedding, or any other emergencies at the lowest interest rates and with some additional features and benefits as follows:

  • Trustworthy Name and reputations
  • Simple and easy documentation
  • Swift and speedy disbursal
  • Flexible loan tenure: from 12 months to 72 months
  • Low cost Balance Transfer facility
  • Collateral free loan disbursement
  • Expedient repayment options, either through direct debit form Savings Bank A/c or ECS 

Type of Tata Capital personal loan

Tata Capital Personal Loan offers various types of loans most suitable to your needs. The company understands the significance of additional funds in one’s life at the time of an emergency or for the need of some extended leisure or home renovation. Whatever is the reason for you to apply for a loan, Tata Capital offers a solution tailor-made for all your needs.

✔️ Tata Capital Wedding Loan:

Tata Capital fully understands the importance and significance of one’s own wedding day and offers a unique product for various preparations required for the wedding. For all sorts of additional extravagance whether its the venue of your choice, outdoor photography, designer wedding attires for your family or a lavish caterer, Tata Capital provides a personal loan to the tune of ₹ 20 Lakh and also at low interest rates. 

  • The personal loan interest rates start as low as 11.25 % per annum
  • A  Tata Capital wedding loan is nearly paperless, convenient and digital
  • You can make part-prepayment on your wedding loan at no extra cost. No pre-payment charges will be there!
  • No security/collateral is required for availing a  Tata Capital personal loan of this type

✔️ Tata Capital Home Renovation Loan:

Tata Capital provides a simple and easy to avail solution for the desires that you possess as your own idea of a home renovation or improvement. A home is where a family resides most of their life, sharing small moments & building memories, so if you are willing to give your old house an improved look, add more luxury, the personal loan for the home renovation is the answer to all your wishes. A loan amount to the tune of ₹ 20 Lakh is available under this scheme which can be utilized to cover 90% of all costs.

  • The personal loan interest rates start as low as 9.60 % per annum
  • You can have a flexible loan tenure of 12 to 72 months to repay a Tata Capital Home Renovation loan.
  • No security/collateral is required for availing a  Tata Capital personal loan of this type
  • The maximum loan amount you can avail is Rs 25 lakhs.

✔️ Tata Capital Medical Loan:

Tata Capital understands the urgent need of funds at the time of a medical emergency and always prioritizes such applications in their approval process. The personal loan for medical emergency shares the burden off your shoulders and provides the required quantum of funds on easy EMIs at the lowest preferred rate of interest. An individual can avail a medical emergency fund to the tune of ₹ 20 to 25 Lakh for a minimum of 24 months.

  • These loans are offered at comparatively lower  personal loan interest rates starting from 11.25% per annum
  • You can have a flexible loan tenure of 12 to 72 months to repay a Tata Capital Medical loan.
  • The maximum loan amount you can avail is Rs 25 lakhs.
  • No security/collateral is required for availing a Tata Capital personal loan  of this type

✔️ Tata Capital Travel Loan

Tata Capital Personal Loan for travel is the most suitable option for individuals who possess a keen interest in traveling and treat it as the very basic necessity of their lifestyle. Traveling across various destinations whether foreign or domestic is expensive and might prove to be a burden on one’s pocket, but it has been made simple with the lowest interest rates on offer for both salaried and self-employed individuals.

  • These loans are offered at comparatively lower  personal loan interest rates starting from 11.25% per annum
  • You can have a flexible loan tenure of 12 to 72 months to repay a Tata Capital Travel loan.
  • The maximum loan amount you can avail is Rs 25 lakhs.
  • No security/collateral is required for availing a Tata Capital personal loan  of this type

How to apply for a Tata Capital Personal Loan

Tata Capital offers one of the lowest interest rates for the personal loan at no additional costs to the borrowers. The application process for the same is easy and involves just a few steps, if you wish to apply for Tata Capital Personal loan, you can follow the steps as given below:

  • Visit their website and enter the loan amount that you wish to borrow
  • Going forward, the page would require you to enter your personal details like your name, address, employment status and your monthly income
  • While filling up the application form, Tata Capital requires you to provide/upload all necessary documents which include the applicant’s PAN Card, Aadhar Card, Bank Statements, Income Tax returns for the last two years as basics
  • Once received, the company notifies about the submission and the documents are sent for verification
  • On verified, the loan is approved and disbursed

Tata Capital Personal Loan Login

With Tata Capital Personal loan, if an applicant or an existing customer is looking forward to check the status of their application or their loan account in real time, they can easily check it on Tata Capital website. A customer needs to log in to their respective account by entering their registered mobile number or the customer reference number which is designated to their account. They can either use their login password or can use the OTP (One Time Password), through which they can login. Once logged in, the webpage provides all the details regarding the status of the application and all the transactions that have taken place in that loan account.
 

Tata Capital Personal Loan Top-up

Tata Capital Limited ensures that its customers get the best and the lowest rate of interest for their balance transfer facility and also provides a profitable opportunity to the applicant so that they can avail a top-up on their existing personal loan from any other bank or any NBFC. This loan is treated as an additional loan at the time of transferring your existing balance to Tata Capital. You can get top up on personal loan from Tata Capital once you have made regular repayments of at least 6 subsequent EMIs against the existing loan. The bank offers top-up loans at a relatively lesser rate of interest as that of your existing personal loan. 

Tata Capital Persona Loan Status

With Tata Capital, it is very easy to track the status of your personal loan application by taking a few simple steps. By visiting the web-site or through the mobile phone application, and login using your credentials such as your login id and password, going further one needs to enter the application number or the document number which is provided for the loan application. Going forward, the page shows the overall activity and the account summary, where one can easily track the loan application status, thus can know whether the loan has been approved, in process or is rejected.
 

Tata Capital Customer Care

In case there is any concern, query or grievance regarding the personal loan application or disbursal of loan amount, one can reach out to the Tata Capital Customer Care toll-free number 1860 267 6060 at any time during Monday to Friday between 9 AM to 8 PM. However, one can also get in touch with the executives by writing an email to customercare@tatacapital.com, they possess a team of trained and efficient executives who can resolve most of your queries.
 

FAQs

Q1 What is a Personal Loan?
A personal loan is an unsecured loan which means you don't have to put up any collateral or guarantor, as with a car loan or a home loan, where the underlying asset is mortgaged with the lender. There are various other advantages as well, such as minimum documentation, fast processing, etc. in addition, you can use this loan for any other purpose you like.
Q2 Are there any additional charges?
A small processing fee is payable upfront. This fee will be deducted from the disbursed loan amount payable to you.
Q3 How much time will it take for my loan to be approved?
If you are eligible, loans are approved within 72 hours of submission of complete documentation.
Q4 Can I prepay my personal loan from TATA Capital?
Yes, you can prepay the complete outstanding loan amount any time after 12 months of availing the loan. Tata Capital also offers part pre-payment facility. Part pre-payment is permissible, only after 180 days but less than 360 days of the loan disbursal without attracting any charges. Maximum of 25% part pre-payment is allowable within a yearly cycle and with a gap of more than 6 months between two-part payments.
Q5 Does TATA Capital offer a top-up on an existing personal loan?
Tata Capital offers a top-up facility on personal loans depending on the original loan tenure after the payment of 8 to 18 EMIs.
Q6 How much interest is charged by Tata Capital on a personal loan?
TATA Capital personal loan interest rate ranges from 11.49% to 19.00%
Q7 What is the minimum and maximum tenure of Tata Capital personal loan?
You can repay your personal loan from Tata Capital in a period of a minimum of 12 months to a maximum of 72 months.
Q8 How much personal loan amount can be borrowed from Tata Capital?
Personal loan amount offered by TATA capital ranges from a minimum amount of Rs. 75,000 to a maximum amount of Rs. 25,00,000.
Q9 How much processing fee is charged by Tata Capital on a personal loan?
Tata Capital charges a processing fee up to 2% of the total loan amount with applicable service tax on the personal loan.
Q10 Where can I get the Tata Capital Personal Loan Application form?
You can get TATA Capital Personal loan application form directly on our website, Afinoz.com. The loan application can be easily submitted through the same website. You can also apply by calling us at 0120-411-0376 or emailing us at info@afinoz.com
Q11 Can I avail a personal loan for the purpose of the business?
Yes, a personal loan from Tata Capital can be availed for business purposes too.
Q12 Can I add my spouse's income while applying for a personal loan from TATA capital?
You can combine your income with your spouse to increase your loan eligibility and to get a higher loan amount.
Q13 Can I check my TATA capital Personal Loan status?
If you have applied for your TATA capital Personal Loan through Afinoz.com, then all you need to do is to fill the TATA capital personal loan application details on our website and get your loan status at real-time.
Q14 What factors are taken into consideration by the NBFC when checking my eligibility for TATA capital personal loan?
When your TATA capital loan application is submitted along with the necessary documents, the NBFC will run a verification check to determine your eligibility for the loan. Your job status, job security, monthly income, outstanding debt, credit score, ability to repay the loan are some other factors which will be taken into consideration to ensure that you’re a risk-free customer.
Q15 Can I avail a personal loan despite having a poor credit score?
Before bank sanctions any loan to you, it requires you to have a good credit score. Credit score plays an important role in the approval of TATA Capital personal loan since it is an unsecured loan. It is mandatory to take steps to improve your credit score to increase your chances of being approved.
Q16 Why should I choose Tata Capital for a personal loan?
You should choose Tata Capital for a personal loan because: • With Tata Capital, you need to undertake minimal documentation • Tata Capital personal loan interest rates are the best among all lenders • It offers a loan amount as high as Rs. 25,00,000 • The company doesn’t ask for any security or collateral • Tata Capital offers three types of personal loan in terms of mode of repayment o Step-up flexi EMI personal loan o Step-down flexi EMI personal loan o Bullet flexi EMI personal loan
Q17 What is the procedure to repay Tata Capital personal loan?
Tata Capital personal loan repayment can be done through auto-debit, online payment, ECS, PDCs and Demand Draft. 
Q18 How much time does it take to get a Tata Capital personal loan disbursed after approval?
Generally, Tata Capital personal loan is credited into your bank account within 72 hours of verification and approval. For any query about TATA Capital personal loan application, you can log on to afinoz.com or give us a call at 0120-411-0376 or mail us at info@afinoz.com.
Reviews
Rajkumar
16 Sep 2019
Thanks to Team Afinoz For Supporting me to avail loan in my hard times. I was looking for Personal Loan but got rejected my loan application from nearest Branch then I applied at Afinoz and got Loan from Afinoz Tata capital Personal Loan Services.
Rajeev Dexit
17 Sep 2019
I'm from Noida and in March I was looking for Personal Loan and I have little credit issue so I was facing problem to avail Loan and then I applied for Personal Loan from Afinoz and got disbursed. Thank team Afinoz.