Apply Tata Capital Personal Loan...

With an aim of taking financial products and services to as many customers as possible, Tata Capital offers a wide variety of loan options of which personal loan is a popular product. The company with its years of experience and expertise is a great name to bank with especially since the reach of the company is quite widespread. There are many features that differentiate Tata Capital personal loans from loans offered by other banks. Here are a few of such significant features that contribute to the success of these personal loans.

Features and Benefits

Fast Loan Disbursal: Tata Capital is fast in disbursing loans so as to ensure that customers are not required to wait for long periods before getting their financial needs met. Be it a wedding or a child’s education or a long-pending vacation, Tata Capital personal loan ensures you meet all your financial requirements without delay.

Competitive Interest Rates: The rate of interest on Tata Capital Personal loans is quite competitive and starts at a very low percentage.

Zero Prepayment Charges: Pre-payment charges are not applicable at all in case the customer wants to pay off the personal loan earlier than the stipulated loan tenure. This means that you can reimburse the loan amount to the bank as soon as you have extra cash and be done with your financial liability.

Loan Details

Interest Rate (Monthly reducing balance)11.25% - 14.49%
Processing FeesNil
Pre Closure ChargesPreclosure permitted after 12 months. 0% of principal outstanding (plus ST)
Loan Tenure1 year to 5 years
Guarantor RequirementNo guarantor required

Fees and Charges

Loan processing chargesUp to 2.5% of the loan amount +GST
Prepayment
  • No part prepayment allowed in the first 6 months
  • Prepayment allowed only once in a year
  • There has to be a gap of minimum of 6 months between two part payments
Pre-payment charges
  • Prepayment charge is 2.5% + GST on amount over and above 25% of outstanding principle
  • Part payment amount is up to 25% of the outstanding principle
Penal interest3% on overdue amount + GST
Post-Dated Cheque ChargesRs.850 + GST
Bounce ChargesRs.600 for every cheque/ Payment Instrument/ ECS Dishonour + GST
Cancellation Charges2% of loan amount or Rs.5,750 whichever is higher
Instrument Swapping ChargesRs.550 + GST
Foreclosure Charges
  • No foreclosure charges in the first 6 months
  • 4.5% of the outstanding principle at the time of foreclosure + GST
Foreclosure Charges for Top Up2.5% on the future outstanding principle of the existing loan + GST
Foreclosure Charges in CCOD Cases
  • No foreclosure charges in the first 6 months
  • 4.5% on the drop-down limit amount+ GST
Mandate Rejection Service ChargeRs.450 + GST (Charges will be levied if the new mandate form is not registered within 30 days of the rejection of the previous mandate form)
CCOD Annual Maintenance Charges0.25% on the drop line amount + GST or Rs.1,000 whichever is higher
Outstation Collection ChargesRs.100 + GST
Statement of Accounts
  • Soft copy: Nil
  • Branch walk-in: Rs.250 + GST
Duplicate Repayment Schedule
  • Soft copy: Nil
  • Branch walk-in: Rs.550 + GST
Duplicate NOCRs.550 + GST
Foreclosure Letter Charges
  • Soft copy: Nil
  • Branch walk-in: Rs.199 + GST

Documentation needed to apply

  • Signed application form with photograph
  • Copy of passport/ voter ID Card/ Driving License
  • Processing fee cheque
  • Last 3 months bank statement/6 months bank passbook

Documentation for salaried applicants:

  • Latest salary slip
  • Current dated salary certificate with the latest Form 16

Documentation for self-employed applicants:

  • Latest Bank statement
  • Latest ITR or Form 16

Tata Capital Personal Loan Eligibility

Eligibility Criteria for Salaried Individuals

Segment
  • MNC
  • Public Ltd.
  • Co/Large Pvt. Ltd.
  • State Govt. /Central Govt.
  • PSU
AgeBetween 21-58 Years
Job ContinuityShould have a job and worked with the current employer for at least 1 year
Minimum IncomeRs.20,000 per month
Minimum Loan AmountRs.75,000
Maximum Loan AmountRs.15,00,000
Tenure12-60 Months
Documents Required
  1. Identity Proof: Voters ID /Passport/Driving License
  2. Address Proof: Ration Card/Electricity Bill/Rental Agreement/ Passport.
  3. Bank Statement for the last 3 Months
  4. Latest Form 16
  5. Most Recent Salary Slip or current dated Salary Certificate

For Self Employed Individuals and Self-Employed Professionals:

ParametersSelf Employed ProfessionalsSelf Employed Individuals
Age25-65 Years25-65 Years
Business ContinuityMin. 3 years in the same business and cityMin. 3 years in the same business and city
Minimum IncomeRs.2,00,000 per yearRs.2,00,000 per year
Minimum Loan AmountRs.75,000Rs.75,000
Maximum Loan AmountRs.15,00,000Rs.15,00,000
Tenure12-48 Months12-48 Months
Documents Required
  1. Identity Proof: Voters ID /Passport/Driving License
  2. Address Proof: Ration Card/Electricity Bill/Rental Agreement/Trade License/Sales Tax Certificate.
  3. Banks Statement for the last 6 months
  4. Highest Professional Degree
  5. Latest Income Tax Return(ITR)
  1. Identity Proof: Voters ID /Passport/Driving License
  2. Address Proof: Ration Card/Electricity Bill/Rental Agreement/Trade License/Sales Tax Certificate.
  3. Banks Statement for the last 6 months
  4. Latest Income Tax Return(ITR) along with the computation of income, Balance sheet(B/S) and Profit& Loss(P&L) for the last 2 years certified by a CA.
  5. Proof of Continuation: Trade License/Sales Tax Certificate/Establishment.

How to apply for a Tata Capital Personal Loan on Creditupchar.com?


Applying for Tata Capital Personal Loan is just a few step procedure with the Creditupchar.com website.

Step 1: Check your Personal Loan Eligibility by filling in your details into the online tool. The tool will calculate the eligibility based on the norms of the Tata Capital Company and will let you know the personal loan amount quotations you are eligible to apply for.

Step 2: The tool will give all the possible quotations for you as per your eligibility, now you can choose the most suitable option that fits your requirement as well as pocket.

Step 3: After you select a particular plan and click submit, you will receive an e-approval from Creditupchar.com that your application has been approved and submitted.

Creditupchar.com then forwards your application to the concerned department of the bank’s nearest branch. Tata Capital will then get in touch with you regarding your loan application. The turnaround time is real quick and meanwhile the status of the application can be tracked via SMS or e-mail.

How to calculate EMI

The Creditupchar Personal Loan EMI Calculator is a unique tool featured on the Creditupchar.com website. This online tool helps you calculate your EMI that needs to be paid every month. Using this online tool makes it easy for an applicant to know and plan beforehand his monthly expenses according to the loan repayment EMI.

A user can enter details like the loan amount, tenure and the rate of interest; the tool then calculate the approximate EMI and lets the user know how much needs to be paid per month.

About the bank

Tata Capital Limited is a unit of Tata Sons Limited. The company is registered with the Reserve Bank of India and it offers financial services which are fee-based and fund-based. The company is a customer-focused firm that aims to develop and provide banking solutions under the Tata Capital brand.

Tata Capital caters to customers from diverse backgrounds like retail, corporates, institutions and individual customers. The Tata group is a world-renowned business house and through its sub-division, Tata Capital, the group wants to bring to the financial sector the same expertise and experience that it has been known for. The tagline of the company is “We do what is right for you”, which depicts the superior level of commitment that the company has towards its customers.

The company deals in commercial finance, private equity, investment banking, wealth management, infrastructure finance, consumer loans, travel related services, foreign exchange and leasing services. Tata Capital has alliances with some of the major financial giants of the world like Mizuho Securities and International Finance Corporation. The company has a wide network of offices across the country to take their financial products and services to as many retail and consumer customers as possible.

Tata Capital Personal Loans are a popular set of personal finance schemes that cater to the individual financial needs of a customer. You can avail this finance for any personal reason like home renovation, weddings or festival expenditure.

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