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Tata Capital Personal Loan

Tata Capital is one of the most reputed financial organizations in India that began its operation in 2007 with the main intention to provide credible and transparent financial solutions to people who need funds to accomplish their life goals and make their dreams come true. Since Tata Capital is a subsidiary venture of the renowned Tata Sons Limited, working for the good cause of the general public is an inherent policy of the company.

Tata’s relentless efforts to provide financial services to the fund seekers led to the establishment of Tata Capital, which serves as a one-stop financial service provider to meet the needs of institutional and retail corporate customers across all business segments. The financial institution is registered with the Reserve Bank of India as a NBFC (Non-Deposit Accepting Non-Banking Financial Company). Since the advent of the company, it has continued to grow by leaps and bounds and today it serves its customers through 100 branches spread across different cities in India.

Key features and benefits of Tata Capital Personal loan

  • You can take a loan for any purpose, be it for the wedding, paying your child's education fees, home renovation, going abroad for vacation or even paying back your existing loan

  • There is no need to provide collateral neither do you have to get a guarantor to sign the application

  • Tata Capital believes in making the loan application and processing process easy and, therefore, has minimal documentation requirements

  • It provides tremendous flexibility in terms of repayment of the loan. You can repay through post dated cheques, direct bank transfer, EMI or even instruct your bank to credit the EMI amount from your account on a particular day of the month

Tata Capital Personal Loan Eligibility Criteria

The eligibility criteria for availing personal loan vary from person to person depending on whether you are a salaried employee or self-employed professional.

For Salaried employees
  • Salaried employee having age between 21-58 years can apply for the loan

  • Minimum income should be Rs. 20,000 per month

  • Minimum loan amount available is Rs. 75000 and maximum is Rs. 1500,000 for 12-72 months tenure

  • You must have a secured job and you need to be working with the current employer for a minimum of 2 years.

For Self-employed professionals
  • Self employed individual having age between 25-65 years can apply for the loan

  • Minimum income should be Rs. 200,000 per month

  • Minimum loan amount available is Rs. 75000 for businessmen and Rs. 300000 for self employed professionals and maximum Rs. 1500,000 for businessmen and Rs. 20,00,000 for the self employed professionals

  • You should be in the same business for a minimum 3 years

Tata Capital Personal Loan EMI Calculator

You can easily calculate EMI with the help of our Personal Loan EMI calculator. You just need to provide the following details.

  • Loan Amount - Use the slider to select your Personal Loan amount that you would like to borrow.

  • Interest Rate - Choose the rate which the personal loan will be given

  • Number of Months – The tenure of your Personal loan.

As soon as you provide these data points and press the calculate button, the EMI calculator for personal loan will tell you the exact loan EMI, interest to be paid and total amount you need to pay. If you play with the interest rate and tenure in the calculator, you will understand that the EMI decreases as the tenure of the Personal Loan increases and increases with increase in interest rates.

Tata Capital Personal Loan Interest rate & other Charges levied

Tata Capital is known for offering personal loans to all customers at the most affordable interest rate. Depending on your financial credentials the interest rate would vary. Also, the interest rate fluctuates based on the existing market conditions. Typically, it ranges from 13.49% to 19.50%. Apart from the interest rate, you would have to pay 2% of the total loan amount you are applying for as processing fees. And, if you want to prepay your loan, you can prepay only after 6 months and you would have to pay 2% pre-closure charges on the outstanding amount.

Loan Duration

Tata Capital provides personal loan for a period ranging from 1 year to 5 years.

Documents required for Tata Capital Personal Loan

For Salaried employees
  • Id proof – Passport/Driving license/ Voters ID

  • A photocopy of residence proof – Ration card/Passport/Electricity bill

  • Bank statement and salary slip of last 3 months

  • Employment continuity documents of 2 years

For Businessmen/Self-employed professionals
  • Id proof – Passport/Driving license/ Voters ID

  • A photocopy of address proof – Ration card/Trade license /Electricity bill

  • Proof of highest professional degree for self employed

  • Latest ITR (Income tax return), Balance sheet and Profit and loss for last 2 years

  • Proof of continuation – Sales tax certificate/Partnership deed/MOA etc.

What are the eligibility criteria for Tata Capital personal loan?

You must be at least 24 years old and you shouldn’t be older than 55 years of age. Your minimum income should be Rs. 25,000 per month.

What is the minimum and maximum amount and tenure of Personal Loan that I can get with Tata Capital?

The minimum loan amount is 75,000 rupees while the maximum is 15, 00,000 rupees. The tenure offered is between 12 to 60 months. This however, depends upon your loan eligibility.

Can I avail a personal loan for purpose of business?

Yes, personal loan from Tata Capital can be availed for business purposes too.

What is the interest rate and processing fees?

Interest rate per month is around 12.50% to 19.50% depending upon your amount. There are no processing fees.

Is there an option to prepay my personal loan?

Yes, customers can prepay their personal loans by simply visiting a branch of Tata Capital Financial Services Limited or calling and getting professional advice from an executive of the company at 18002096060. When visiting the branch, certain documents must be carried on your person. These documents include a statement that states that you have cleared the last instalment, foreclosure statement, request letter signed by the applicant, and PAN card. The prepayment of your personal loan can be made via demand draft, cheque or cash.