Tata Capital provides multipurpose personal loans at a starting interest rate of 10.99% per annum for loan amounts up to Rs.35 Lakhs. Also, they offer flexible repayment tenure of up to 6 years, you can enjoy customized personal loan offerings including pre-approved loans depending on your diverse financial needs.
|Tata Capital Personal Loan Key Highlights|
|Loan Amount||Rs.40,000 to Rs.35,00,000|
|Loan Tenure||Up to 6 years|
|Interest Rate||Starting at 10.99% p.a.|
|Processing Fees (non-refundable)||Up to 3.5% of loan amount + GST|
|Age Limit||21 to 58 years|
|Work Experience||A minimum of 1 year is required|
|Minimum Monthly Income||Rs.15000|
Benefits of Tata Capital Personal Loan
- Tailor-made loans- Everyone’s need is different. So, one type of loan is not suitable for all. Their personalized approach gives the advantage and has left limitless satisfied customers.
- No collateral required- Tata Capital doesn’t ask for any collateral security to pledge for a personal loan.
- Overdraft facility- Borrower can withdraw additional funds up to an agreed limit. Interest is charged only on the user’s personal loan amount.
- Zero charges on part pre-payment- Borrower can foreclose part of the personal loan any time after 6 months of availing a personal loan without any additional fee.
- Affordable interest rate- Their interest rates are reasonable. They provide everything personalized as per your convenience and ability to Many factors are also included in calculating interest rates.
Eligibility Criteria for Tata Capital Personal Loan
Personal loan eligibility standards depend on various factors, including monthly income, age, employment type, credit score, work experience, etc. Mentioned below are the eligibility criteria set by Tata Capital for its diverse personal loan schemes.
- Personal loan overdraft
- Borrower’s age must be between 22 to 58 years
- Borrower should have a minimum income of 35,000 per month
- Applicant should be in the same job for at least 6 months
- At least 2 years of work experience is required
- Marriage loan eligibility criteria
- Applicant’s age must vary from 21 to 58 years
- Applicants earning at least Rs.20,000 per month for a marriage loan
- Salaried individuals with 2 years of work experience can apply. You should also be working at your current company for a minimum of 6 months.
- Medical loan eligibility
- Salaried individuals with 1 year of work experience can apply. You should also be working at your current company for at least 6 months.
- The age limit must vary between 21 to 58 years
- The minimum monthly income of applicants is at least Rs.20,000
- Personal loan for education
- Applicants age should be between 16 to 26 years
- Individuals must have a good previous academic record
- Either student or parents should earn a minimum monthly income of Rs.15,000
- The borrower should either have a guarantor or show a security
- Travel loan eligibility criteria
- The borrower’s age must vary between 22 to 58 years
- Minimum one year of work experience is required
- The minimum monthly salary required is Rs.15,000
- Home renovation loan eligibility
- Applicants should be in the age group of 21 to 58 years
- The borrower should have at minimum 2 years of professional experience
- You should earn a minimum monthly salary of 20,000.
- Eligibility for government employees
- Individual age must be between 22 to 58 years.
- An individual’s monthly income should not be less than Rs.15,000.
- The borrower must have at least 1 year of work experience.
- Eligibility criteria for salaried employees
- The borrower’s age must fall between 22 to 58 years
- Applicants must have an income of at least Rs.15,000 per month
- Individuals must have a minimum of 1 year of work experience
- Eligibility Criteria for Doctors
- Age limit- 22 years to 58 years
- The minimum monthly income required is Rs.15,000
- Work experience- Minimum 1 year
- Loan for women eligibility
- The minimum work experience required is one year
- The age limit must be between 22- 58 years
- Minimum monthly income is Rs.15,000
- Small personal loan eligibility criteria
- The borrowers must have a minimum salary of Rs.15,000 per month.
- A borrower should be working for at least 1 year.
- The applicant’s age should fall between 22 to 58 years.
Compulsory Documents Required for Tata Capital Personal Loan
- Photo identity proofs- Voter ID card copy/ Passport / Driving License/ Aadhar Card
- Income proof- A copy of your bank statements for the previous six months
- Salary slips- A copy of salary slips for the previous 3 months
- Address proof- A copy of Ration Card / Electricity Bill / Passport
- Employment Certificate- A certificate declaring 1 year of continuous employment
Steps to Get Tata Capital Personal Loan
Tata Capital personal loan offline
- You need to visit first your nearest branch of Tata Capital.
- You need to submit the personal loan application and the necessary documents.
- Applicants can get in touch with a representative over a phone call.
- Offline personal loan applications can take a few business days to process and approve.
Tata Capital Instant Personal Loan online
You need to apply online for immediate personal loan approval.
- Enter required details- Enter your name, mobile number and verify with your PAN number
- Input Loan Requirements- If you have a pre-approved offer, input your personal loan requirement within the already sanctioned limit
- Fill in Personal Details- You need to enter your personal details with banking details
- Set up your E-mandate- You must complete a one-time net banking transaction authorization
- Additional facility by Tata Capital- You can avail of insurance to safeguard against your personal loan liabilities
- Personal loan disbursement- Accept the E-Agreement and verify your all personal loan details & you should get instant disbursements
Tata Capital Personal Loan Interest Rate and Other Charges
|Interest Rate||Salaried- Starts at 10.99% p.a.|
|Self-employed- Starts at 10.99% p.a.|
|Overdraft facility- Starts at 13.55% p.a.|
|Processing Fees||Up to 3.5% of loan amount + GST|
|Penal Interest||3% on the overdue amount monthly + GST|
|Bounce Charges||Rs.600 + GST|
|Mandate Rejection Service Charge||The minimal amount of Rs.450 + GST|
|CCOD Annual Maintenance Charges||0.25% on dropline amount + GST or Rs.1000 (whichever is higher)|
|Outstation Collection Charges||Rs.100 + GST|
|Accounts statement||Rs.250 + GST|
|Loan Cancellation Charges||2% of the loan amount or Rs.5,750 (whichever is higher) + GST charges.|
|Instrument Swap Charges||Rs.550 + GST|
|Duplicate Repayment Schedule||Rs.550 + GST|
|Duplicate NOC||Rs.550 + applicable GST|
|Post-Dated Cheque Charges||Rs.850 + GST|
|Part Payment Charges||No part payment is allowed for the first 12 months (Lock-in period).
2.5% + taxes applicable on amounts over and above 25% of the principal outstanding.
|Foreclosure Charges||4.5% of the principal outstanding amount + GST, Foreclosure fees for closing the loan within 12 months will be 6.5% + GST
If foreclosed within 6 months post completing part pre-payment- The foreclosure charge will be 4.5% of the Principal outstanding amount + Part pre-payment amount
|Foreclosure Charges for Top-Up||2.50% on the principal outstanding at the time of foreclosure + applicable GST/ Any prepayment made during the Lock-in Period (12 months) will attract foreclosure charges of 4.5% + taxes on the principal outstanding|
|Foreclosure Charges in CCOD Cases||4.5% on the dropped-down limit amount + GST
Any foreclosure made during the Lock-in Period will attract an additional 2% above the prepayment charges mentioned + taxes on the dropped-down limit
|Foreclosure Charges on Term Loan Facility||4.5% on the outstanding amount at the time of foreclosure + GST, In case the Borrower forecloses the loan within six months after doing part prepayment, foreclosure charges of 4.5% + taxes + part prepayment amount.
Any prepayment made during the Lock-in period will attract an additional 2% and above the prepayment charges already mentioned + taxes on the principal outstanding.
|Foreclosure Letter Charges||Soft copy – NIL
Branch walk-in – Rs.199 + GST
Various Types of Tata Capital Instant Personal Loans
1. Personal Loan Overdraft
Tata Capital offers a personal loan overdraft facility with the flexibility to withdraw funds as per your necessity and pay interest only on the used amount. Borrowers can avail of multiple withdrawals and part-payment facilities without any further charges.
- Loan Amount- Rs.2 lakhs – Rs.35 lakhs
- Loan Tenure- 1 to 7 years
- Interest rate starting at 13.50% p.a.
2. Wedding Loan
A marriage loan is offered for financing all wedding-related necessary expenses
- Loan Amount- Rs.75,000 – Rs.35 lakhs
- Loan Tenure- 1-6 years
3. Medical Loan
Potential personal loan applicants can avail of medical loans to meet the expenditures for medical emergencies and for cosmetic, dental, and other medical procedures.
- Loan Amount- Rs.75,000 to Rs.35 lakhs
- Loan Tenure- 12 to 72 months
4. Education Loan
Education personal loans fund the tuition fees and living costs of students planning to study more in India or abroad.
- Loan Amount: Rs 75,000- 35 lakh
- Tenure: 1-6 years
5. Travel Loan
A travel loan is provided to fund a vacation or various travel-related expenses of the applicant including transportation costs, hotel expenses, travel packages, or any other expenses associated with the travelling
- Loan Amount- Rs.75,000 to Rs.35 lakhs
- Loan Repayment Tenure- 1 to 6 years
6. Home Renovation Loan
Home renovation loan facility helps borrowers by providing funds for home makeover ranging from extensive interior upgrades to basic repair and maintenance needs
- Loan amounts ranging between Rs.75,000 to Rs.35 lakhs
- Repayment tenure between 1 year to 6 years.
7. Personal Loan for Government Employees
Borrowers employed in government sectors can avail of personal loans to meet their personal financial needs.
- Loan amount up to Rs.35 lakhs
- Loan tenure- 1 year-6 years
- No penalty on pre-payment
8. Personal Loan for Salaried Employees
Personal loan for salaried employees is provided to meet the financial needs of salaried individuals
- Loan amounts ranging from Rs.75,000 to Rs.35 lakhs
- Loan tenure is up to 6 years and a personal loan overdraft facility is also available
- Part prepayment charges are NIL (allowed after 6 months of loan disbursal date)
9. Personal Loan for Doctors
They offer special personal loans for doctors to finance their personal and professional requirements like purchasing medical equipment, renovating the clinic, etc.
- Part prepayment charges are NIL and allowed after 6 months of loan disbursal date
10. Personal Loan for Women
Personal loan for women provides the various financial requirements of working women as well as homemakers.
- Loan Amount- Rs.75,000 to Rs.35 lakhs
- Loan Tenure- Up to 6 years with the availability of a personal loan overdraft facility
- Part prepayment charges- NIL (permitted after 6 months of loan disbursal date)
11. Small Personal Loan
Low-ticket instant personal loans are provided for salaried borrowers with fast disbursement
- Loan Amount- Rs.40,000 to Rs.1.5 lakhs
- Processing fees- Up to 2% of the loan amount + applicable GST
12. Pre-approved Tata Capital Instant Personal Loan
Tata Capital also offers instant pre-approved personal loans to a few individuals having flawless credit past performance. The NBFC may also consider other factors like monthly income, credit score, age, occupation, etc.
Pros and Cons of Tata Capital Personal Loan
Following are the pros and cons of availing a personal loan from Tata Capital as per ratings and reviews of the existing users of the Tata Capital: Loans & Wealth App.
|App provides a one-stop solution to various problems||Users are disappointed with customer service|
|Tata Capital App is easy to use||The App is working slowly|
|Multiple types of personal loans||UI is not working properly|
|Zero charges on part-prepayment|
|A loan overdraft facility is available|
Tata Capital Personal Loan App Ratings & Review
You can read the below table for Tata Capital App and user ratings and review details. The rating given by the users for Tata Capital: Loans & Wealth App is remarkable on Google Playstore.
|2.||Number of Downloads||10 Lakhs+|
|3.||Number of Users Review||41,085|
|5.||App Size||23 MB|
|6.||OS Required||Android 6.0 and Up|
|7.||App Permissions||Contacts, Camera, Location, Telephone, Microphone, SMS, Storage, and Other|
Personal Loan: Tata Capital Customer Care Contact Number
- Customer Care Number- 1860 267 6060 you can interact between 9 am to 8 pm, Monday to Saturday (Closed on Sundays And Public Holidays).
- For new loan requirements, write to them at – email@example.com
- Registered Office Address Tata Capital- 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013.
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