CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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Key Features and highlights of Tata Capital business loans
Unsecured loans with contactless and paperless application
No branch visits or physical documents submission
Flexible payment tenure that can be chosen by the applicant
Pay as per your business cash flow
Higher value loans starting from Rs. 40,000 to Rs. 75,00,000
Choose as per your requirement
Loan tenure can vary from 12 - 60 months
Interest rates starting from 12%
Flexi EMI option available
Fixed and Structured
Customized loan amounts can be obtained
Business funding options
Term loan or overdraft
Quick approval of loans and fast disbursal
No Collateral required
Tata Capital business loans are a trusted and faster way to get loans for your business needs and cash flow requirements. Let us discuss what are the key benefits of Tata Capital business loans-
1. Business expansion plans – Tata Capital business loans are helpful when you are planning to expand your business. Be it going online or opening stores in different geographies, a business loan is very helpful in achieving your objective.
2. Working capital and Inventory management – In a business, big or small, working capital and inventory form a considerable part of the expenses. Purchase of inventory to meet increased demand or paying out salaries, a business loan is a boon in such situations.
3. Meeting cash flow requirements – Ups and downs are part and parcel of any business. A business loan can help you meet that shortage in the cash flow.
4. Purchase of the latest equipment – Upgrading is an essential part of any business. Purchase of the latest equipment can also be funded by business loans.
Between 21-65 years of age
700 or more
Should be profitable for 3 consecutive years
Years in business
Minimum 2 years of stable business
Balance sheet review
Audit is done by a registered Chartered Accountant
Rs. 5,000 or more
Bank account statement for the last 6 months
Income tax returns for the last 2 years
Balance sheet and P&L statements for the last 2 years
Company’s KYC documents – Registration of Incorporation, Memorandum, and Articles of Association
A detailed report about how the loan would be used
Photo identity proof
Aadhaar card/driving license/Passport/Voter ID
Certified bank statements for the past 6 months
Ownership papers, Trade license, certified copy of partnership deed, Sales Tax certificate, or sole proprietorship declaration.
1. Fixed business loan rates – In this type, you pay a fixed EMI throughout the tenure of the loan. It doesn’t change with time or other circumstances.
2. Floating interest rates – Here, the interest rate changes according to the change in the Repo-linked lending rate decided by the Reserve Bank of India (RBI). Your EMI value and tenure can change according to the changes made by RBI.
Now, let’s take a look at the various charges and fees levied by Tata Capital business loans.
Interest rates and charges for Tata Capital business loans
Business loan interest rate
Self-employed doctor and professional
Processing fee for Self-employed Non-professional
Processing fee for Self-employed doctor and professional
Penal interest/additional interest
3% on overdue +GST
Rs. 2,000 for every cheque + GST
Mandate rejection service charge
Rs. 450 + GST
CCOD Annual maintenance charges
First-year - 0.75% or Rs. 1,000 whichever is higher
Subsequent years - 0.50% or Rs. 1,000 whichever is higher
Payable at the end of the 13th month
Document processing charges
Rs. 1,999 + GST
Outstation collection charges
Rs. 100 + GST per repayment instrument
Statement of accounts
No soft copy, for branch visit - Rs. 250 + GST
4.5% + applicable taxes
Foreclosure charges in case of CCOD
Loan cancellation charges
2% of the loan amount or Rs. 5750, whichever is higher + GST
Instrument swap charges
Rs. 550 + GST
Duplicate repayment schedule
No soft copy, for branch visit - Rs. 550 + GST
Foreclosure letter charge
No soft copy, for branch visit - Rs. 199 + GST
Post-dated cheque charges
Rs. 850 + GST
1. CIBIL™ score – A good CIBIL™ score is a reflection of your financial discipline in the past. It shows your ability to pay your debts on time and in full without any defaults. Applicants with a higher CIBIL™ score are most likely to get a lower and more attractive interest rate.
2. Company history – Your creditworthiness as a business over some time is a good indicator of your business health. With experience and discipline together, there are more chances of qualifying for a better interest rate.
3. Annual Turnover – Goes without saying, the higher your turnover is, the more likely you are to pay your dues on time. Better bottom lines can fetch a better interest rate.
4. Revenues and profit – The lender would always like to check your revenues and profits after paying all expenses. Profitable books of accounts are always good for your credit score and hence the interest rates.
5. Business vintage – The older and well-run the business is, the higher the chances of getting a lower interest rate.
6. Guarantee/collateral – As a business, if you provide collateral or security, the lender’s risk is reduced and they are more comfortable with offering a lower interest rate.
1. Business loans for women – Tata Capital provides business loans for women entrepreneurs looking to scale up their businesses. These loans can also be obtained for working capital requirements.
2. MSME OR SME Loans - Small and medium-scale enterprises may often need capital to meet their business requirements. Tata Capital provides business loans to MSME Business Loan/SME businesses to help meet their expenses.
3. Machinery loan – Tata Capital provides machinery loans to businesses that need to buy new equipment/machinery to run/upscale their business.
4. Working capital loan – Tata Capital provides working capital loans to businesses to meet their everyday working capital requirements for the smooth functioning of their business.
Tata Capital business loans are available to the following –
Application to Tata Capital business loans is simple and can be done in various ways. Let us see how you can do it.
1. Online application for Tata Capital business loans – You can go to the official website of Tata Capital and click on the section “Business loans”. Click on “Apply now”. Proceed with the rest of the steps to complete the application.
You can also email them at firstname.lastname@example.org
2. Application on the phone for Tata Capital business loans – You can call the customer care number – 1860 267 6060
3. Offline application for Tata Capital business loans – You can visit the branch and apply. Make sure you carry all the required documents as listed by CreditMantri above.
4. Application to Tata Capital business loans via virtual assistant – You can log in to the official Tata Capital website and speak with Tia – their virtual assistant. After a few inquiries and messages, Tia will arrange for someone to get in touch with you for the loan.
There are 2 EMI options available with Tata Capital business loans –
1. Fixed EMI – In this option, the EMI is fixed for the entire tenure of the loan. Ideal when you have a consistent and steady source of income.
2. Structured EMI – Under this option, you can choose a repayment plan that suits your business and income. Ideal for those with an inconsistent source of income.
Tata Capital business loans are a great option for businesses to meet their working capital requirement, buy machinery, expand their businesses, or just about anything related to the running of their businesses. They have an attractive interest rate starting at 19% and offer flexibility in terms of choosing interest rate types and payment tenures. They are worth exploring if you are looking for a business loan.
1. Why should you choose Tata Capital business loans?
Tata Capital business loans offer an attractive interest rate with no collateral or security required. They offer loans worth up to Rs. 75,00,000 with flexible payment options.
2. What is the interest rate offered for Tata Capital business loans?
The interest rate starts at 19% and can be different for self-employed individuals.
3. Do I need collateral to apply for Tata Capital business loans?
No, you do not need collateral to apply for Tata Capital business loans.
4. How does a business loan affect my credit score?
A business loan will positively affect your credit score if you pay all the dues consistently on time. It may, however, affect your credit score negatively in the opposite case.
5. How does a business loan application and payment model work?
The loan has a principal amount – which is the actual amount borrowed by the business. Interest is the money paid to the lender for borrowing the loan. Usually expressed as a percentage. Loan tenure is the duration within which the loan has to be paid back.
6. What is the minimum CIBIL™ score needed to get a business loan?
The minimum score needed to get a business loan is 700.
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application