Description

Tata Capital is one of the leading NBFCs (Non-Banking Financial Companies) in India. It offers a host of loan products to its customers across the country. A personal loan is one of its popular products; Tata Capital provides a quick personal loan to its customers to help them cover immediate financial requirements, such as marriage, education, home renovation, travel and medical expenses.  

Tata Capital personal loan eligibility criteria

You can get a personal loan up to Rs. 25 lakhs for 12 months to 72 months from Tata Capital at one of the lowest rates in the market. You need to meet some basic conditions to qualify for a personal loan from Tata Capital. Moreover, there is no prepayment charge applicable on Tata Capital personal loans.  

Tata Capital personal loan eligibility criteria for salaried professionals:

Age

  • The minimum age of an applicant should be 22 years at the time of application

  • Age of the applicant applying for a personal loan should not exceed 58 years

Credit score

Should have a good credit score to get Tata Capital personal loan

Total work experience

Salaried professional with a regular income should have a minimum of 1-year work experience and a minimum of 6 months in the present job

Loan amount

Up to 25 lakhs

Loan tenure

From 12 months to 72 months

Residential status

Indian

Monthly salary

Rs. 15,000

Interest rate

Starting from 10.99% p.a.

Tata Capital personal loan eligibility criteria for self-employed individuals:

Age

  • The minimum age of an applicant should be 25 years at the time of application

  •  Age of the applicant applying for a personal loan should not exceed 65 years

Credit score

Should have a good credit score to get Tata Capital personal loan

Total work experience

Should have a minimum of 3 years in the same business

Loan amount

Up to 25 lakhs

Loan tenure

From 12 months to 72 months

Residential status

Indian

Minimum income

Rs. 2 lakh per year

Interest rate

Starting from 10.99% p.a.

What are the top factors that affect your Tata Capital personal loan eligibility?

Age: Lenders use your age, among other factors, to determine your eligibility for a personal loan. Age of the applicant should be between 22 years and 65 years to apply for a Tata Capital personal loan. Since young borrowers have much time to earn money and repay the loan, they can more easily qualify for a personal loan than individuals who are in their 50s or approaching retirement.

Monthly salary: To apply for a personal loan, you must have a stable job and good cash flow. Your net salary should be Rs. 15,000 per month to get a Tata Capital personal loan. Your monthly income enables the lender to evaluate how much personal loan you can get at what interest rate. Income requirements may vary from applicant to applicant based on the city of their residence.

Credit score: Personal loans are an unsecured loan and a credit score helps lenders to assess your payment behaviour. Your credit score shows how responsible you have been in handling your debts. You need to have a good credit score to get a personal loan from Kotak Mahindra Bank. Generally, a credit score of 750 or above is considered perfect for a personal loan.

Job and work stability: Lenders also look into job stability and the company you are employed with before processing a personal loan application. It gives a clear picture of regular cash flow. Salaried individuals should have at least 1 year of work experience and should have worked for at least 6 months in their current job to get a personal loan from Tata Capital. While a self-employed person needs to have a minimum of 2 years of experience in their current business and the business should be profit-making. 

Documents required for Tata Capital personal loan

Applicants need to submit the following documents to get a personal loan from Tata Capital.

For salaried employees

  • Proof of identity: A copy of Voter’s ID/ PAN card /Aadhaar card /Driving license 
  • Address proof: A copy of Leave & License Agreement/ Ration card /Utility bill (not more than 3 months old) / Passport
  • Credit information: PAN number to check your credit history
  • Income proof: A copy of the bank statement for the last six months
  • Salary slips: A copy of salary slips for the last three months
  • Bank statement: Bank statement showing salary being credited for the last 3 months
  • Employment certificate: A certificate showing one year of continuous employment        

For self-employed employees

  • Proof of identity: A copy of Voter’s ID/ PAN card /Aadhaar card /Driving license 
  • Address proof: A copy of Leave & License Agreement/ Ration card /Utility bill (not more than 3 months old) / Passport
  • Credit information: PAN number to check your credit history
  • Highest profession degree for self-employed professionals
  • Latest 2 years ITR along with computation of income, B/S, P&L a/c with all schedules audited by a Chartered Accountant
  • Bank statement: Bank statement showing salary being credited for the last 3 months
  • Proof of business continuation

How to apply for Tata Capital personal loan through Afinoz?

Applying for a personal loan on Ainoz is a quick and hassle-free process. You can apply for a personal loan by clicking ‘Apply Now’ button on the personal loan page. Fill the short and simple personal loan application form to check your eligibility. You will receive exclusive offers from multiple lenders, including Tata Capital, based on your eligibility.  Tata Capital offers a personal loan on attractive rates; you can apply for the loan as per your requirement and eligibility.  

Why is Afinoz?

Afinoz is a one-stop destination for customised rate quotes on loans and investment products in India. The company is owned by DS Finworld Pvt. Ltd. Afinoz leverages the latest technology to make personal financial decisions easy, seamless and transparent for our customers. We have designed a system that provides comprehensive results and enables customers to compare products simultaneously so that they can access the right product.

FAQs

Q1How much personal loan can I get from Tata Capital?
Tata Capital offers a personal loan starting from a minimum of Rs. 75,000 to a maximum of Rs. 25,00,000/- depending on your eligibility.
Q2Can I get a personal loan with a low CIBIL score from Tata Capital?
You need to have a good credit score to get a personal loan. However, apart from a credit score, there are other factors considered for a personal loan, and approval of a personal loan principally depends on your ability to repay the loan.
Q3Can I transfer my personal loan to Tata Capital?
Yes, you can transfer a personal loan from the current lender to Tata Capital and get lucrative offers.
Q4How to apply for a Tata Capital personal loan?
You can apply for a personal loan from Tata Capital through several ways: Online You can submit the personal loan application on the Afinoz app or website. Phone or mail You can call us at +91 120 411 0376 or send an email at info@afinoz.com.