CreditMantri matches your credit and demographic profile to Tata Capital Personal Loan lending criteria - others just match your demographic criteria. We shortlist lenders willing to lend to you based on our proprietary matching algorithm.
In effect, we pre-screen your application to make sure you are likely to qualify as per the lender’s credit criteria. We upfront check whether you qualify for Tata Capital Personal Loan. Hence the chances of your Tata Capital Personal Loan application getting approved is higher.
Tata Capital Limited was incorporated in 2007 and is a subsidiary of the well-known Tata Sons Limited. It is one of the leading non-banking financial companies (NBFC) in the country and offers a variety of finance products for retail, corporate and institutional customers. Tata Capital Financial Services Limited has more than 100 branches across India.
You can now apply for a personal loan with ease! A personal loan has several advantages over other kinds of loans including relatively simple documentation, no need for collateral, and no restrictions on how to use the money. Personal loans are for your personal needs – be it a revitalising holiday, a medical emergency, to fund your child’s education or even to further your business. Realise your dreams with the help of a Tata Capital Personal Loan.
As mentioned before, you could use your personal loan from Tata Capital for a variety of reasons: home improvement or renovation, for the perfect holiday, purchase of electronics durables, to fund your children’s education, to celebrate a marriage, as working capital for your business, to cover unexpected medical expenses, or even to pay back loans or consolidate your credit card dues.
No security or collateral
There is no collateral or security required for obtaining a Tata Capital Personal Loan, if you are found eligible.
Minimal paperwork and documentation
A Personal Loan from Tata Capital requires minimal paperwork when compared to other types of loans like an auto loan or home loan.
Minimum and maximum amount
The loan amount ranges from Rs. 75,000 to Rs. 15,00,000.
Flexible tenures and EMI Payment Options
You can choose to repay over tenures ranging from 12-72 months. You can pay the loan in easy installments. Choose to repay through from a host of post-dated cheques or via ECS.
Tata Capital personal loans offer interest rates which are largely dependent on your credit score and credit history and the company’s internal policies.
For the salaried
The general fees and charges associated with Tata Capital Personal Loan are as follows:
You will be charged a non-refundable processing fee when you apply for a personal loan. The amount varies depending on the particulars of your loan.
Part Prepayment Charges:
Part Prepayment of your loan is allowed. There will be no charge associated with it if you wish to pay back your loan 180 days after you take it. However, keep in mind that you will only be allowed to pay up to 25% of your outstanding principal amount if you wish to repay before 180 days. If you wish to pay more than this, you will be levied a prepayment charge of 2%.
Delay in Payment Charges:
A 2% charge is levied every outstanding month if you fail to pay your monthly EMI. This is charged over the prevailing interest amount.
Other miscellaneous charges include:
Post-dated cheque (PDC) Charge - Rs. 850
Cheque bounce Charges - Rs. 450
Cancellation Charges - 2% of loan amount or Rs. 5,750 whichever is higher
Foreclosure Charges - 4.5% of the principle outstanding at the time of foreclosure plus service taxes
What is a personal loan?
A personal loan is an unsecured form of loan, where you are not required to pledge any form of collateral or security. A personal loan could be used for any purpose, unlike in an auto loan or home loan. The end purpose of a personal loan could be for a holiday, medical emergency or even for buying an expensive gadget.
What is the maximum loan amount I can avail with a Tata Capital Personal Loan?
You can avail of a maximum loan of Rs.15,00,000, depending on your eligibility, income, credit score and history and repayment capacity.
Are there any additional charges?
Yes, you would be required to pay a processing fee which is deducted from the amount disbursed to you, among other charges.
What are the tenure ranges available?
You can choose to repay the loan amount from a period ranging from 12 months to 72 months.
How much time does it take for the loan to be approved?
Generally, it takes 72 hours from the time of submission of your documents for your loan to be approved.
What are the options available to me when it comes to repaying the loan amount?
There are two ways to make your payments:
Can I finance my business with a personal loan?
Yes, you can opt for a personal loan in order to finance your business or other miscellaneous expenses.
Is there an option to prepay my loan? If so, what is the process?
Yes, you can choose to prepay your loan. For prepayment of your personal loan account, you can visit the nearest Tata Capital branch or call the customer care number. You need to carry the following documents while visiting the branch:
The payment can be made through cash, cheque or demand draft.
You can apply for a Tata Capital Personal online by logging onto their website and submitting your basic information (your name, your company and salary details). The four step process includes checking eligibility, viewing offers that you qualify for, completing the application, and uploading documents. A Tata Capital representative will contact you regarding your application.
Can I track my Tata Capital Personal Loan application?
Yes, you can also track the status of your application online, either by entering your Mobile number or your Loan Application number. You will also be required to input your Date of Birth in the Track Application portal on their website.
If found eligible, you might also be asked to upload the following documents to process your loan application:
Alternatively, if you think you need help with your loan application process and advice on eligibility, CreditMantri can guide you and match you with best loan offer that suits your profile.