Tata Capital is a non-banking financial company (NBFC) which offers loans and other financial services. Tata Capital Personal Loan offers loans for financial requirements such as marriage, education, home renovation, travel, or even medical needs. The simple and flexible process of disbursal of loan by the company helps in getting quick access of money in need.
| Tata Capital Personal Loan Overview | |
| Minimum Loan Amount | Rs.75,000 |
| Maximum Loan Amount | Rs.35,00,000 |
| Loan Repayment Tenure | Up to 6 years |
| Interest Rate | 10.99% per annum onwards |
| Processing Fees | Up to 2.75% of the loan amount + Applicable GST |
| Age Limit | 22 to 58 years (Salaried or self-employed) |
| Work Experience | Must have at least 1 year of experience |
| Minimum Income | Rs.15000 per month |
Tata Capital multipurpose personal loan helps in any unexpected event or to finance any major life event. Let&rsquo’s know if it is good to choose Tata Capital over other companies for a personal loan or not.
TATA Capital Personal Loan Information
TATA Capital Personal Loan provides easy loan within 2 days (48 hours) with interest 10.99% p.a. onwards. Below table gives the complete details of Personal Loan.
| TATA Capital Personal Loan | Details |
|---|---|
| Loan Category: | Personal Loan |
| Loans Offering: | Personal Loan, Marriage Loan, Travel Loan, Medical Loan, Home Renovation Loan, Education Loan |
| Loan Type: | Unsecured personal loan |
| Interest Rate: | 10.99% p.a. onwards |
| Processing Fee: | Upto 2.75% of the loan amount + GST |
| Approval Process: | Both online and offline |
| Minimum Income Requirement: | ₹15,000 |
| Loan Approval Timing: | 2 days (48 hours) |
| Minimum Loan Amount: | ₹75,000 |
| Maximum Loan Amount: | ₹25 Lakh |
| Minimum Loan Period: | 12 months/ 1 year |
| Maximum Loan Period: | 72 months/ 6 years |
| Type of Interest Rate: | Fixed Interest Rate |
| Interest Charging Method: | Reducing balance method |
Tata Capital Personal Loan Eligibility Criteria
Applicant’s personal loan eligibility criteria depend on various factors, including a monthly income inflow, age, employment type, CIBIL score, experience, etc.
| Occupation | Salaried or Self-employed professional |
| Age Limit | 22 years to 58 years |
| Minimum Monthly Income | Rs.15000 |
| Minimum Work Experience | At least one year of work experience |
TATA Capital Personal Loan Strengths/Advantages
- Zero prepayment charges.
- Enhanced loan tenure.
- Over-draft facility.
TATA Capital Personal Loan Weaknesses/Disadvantages
- High processing fee of 2.75% of the loan amount.
- High penal interest of 3% on Overdue amount per month.
Tata Capital Personal Loan: Interest Rate, Processing Fees, and Other Charges
| Interest Rate | 10.99% per annum onwards |
| Processing Fees | Charged up to 2.75% of the loan amount + GST |
| Penal Interest/Additional Interest | 3% on the overdue amount monthly + GST |
| Bounce Charges | Rs.600 + Applicable GST |
| Mandate Rejection Service Charge | The nominal amount of Rs.450 + GST |
| CCOD Annual Maintenance Charges | 0.25% on Dropline Amount + GST or Rs. 1000, whichever is higher per year |
| Outstation Collection Charges | Rs.100 + GST per repayment tenure |
| Statement of Accounts | Rs.250+GST |
| Loan Cancellation Charges | 2% of the loan amount or Rs.5,750 (whichever is higher) and the applicable GST charges. |
| Instrument Swap Charges | Rs.550 + Applicable GST |
| Duplicate Repayment Schedule | Rs.550 + Applicable GST |
| Duplicate NOC | Rs.550 + Applicable GST |
| Post-Dated Cheque Charges | Rs.850 + GST |
| Part Payment Charges | No part payment is allowed during the first 12 months (Lock-in period).2.5% + taxes shall be applicable on amounts over and above 25% of the principal outstanding. |
| Foreclosure Charges | 4.5% of the principal outstanding amount at the time of foreclosure + 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 fee will be 4.5% of the Principal outstanding amount at the time of foreclosure + GST + Part pre-payment amount |
| Foreclosure Charges for Top-Up | 2.50% on the principal outstanding at the time of foreclosure + GST/ Any prepayment made during the Lock-in Period of 12 months will attract foreclosure charges of 4.5% + applicable taxes on the principal outstanding |
| Foreclosure Charges in CCOD Cases | 4.5% on the Dropped down limit amount + applicable GSTAny foreclosure made during the Lock-in Period will attract an additional 2% above the prepayment charges mentioned + applicable 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 6 months after doing part prepayment, foreclosure charges of 4.5% + Applicable taxes + part prepayment amount. Any prepayment made during the Lock-in period will attract an additional 2% and above the prepayment charges already mentioned + applicable taxes. |
| Foreclosure Letter Charges | Soft Copy – NILBranch Visit – Rs.199 + GST |
TATA Capital Personal Loan Customer Care Details
- Customer Support Email – customercare@tatacapital.com
- Customer Support Toll Free No – 1860 267 6060 (Monday to Friday between 9 AM to 8 PM)
- Customer Support Chat Facility – Yes
- Customer Support Whatsapp Number – NA
TATA Capital Personal Loan Calculator and Download Links
In this section we have listed all important links related to TATA Capital Personal Loan.
| TATA Capital Personal Loan | Details |
|---|---|
| Banks | NA |
| Charges Information | Link |
| Personal Loan Eligibility Calculator Link | NA |
| Personal Loan EMI Calculator Link | Personal Loan EMI Calculator Link |
| Education Loan EMI Calculator Link | Education Loan EMI Calculator Link |
| Car Loan EMI Calculator Link | NA |
| Product Demo Link | NA |
| Website Link | Website Link |
| Android App Downlaod Link | Android Mobile App Download |
| iOS App Downlaod Link | iOS Mobile App Downlaod |
Types of Tata Capital Instant Personal Loan
1. Marriage Loan
Purpose- A Wedding/Marriage loan is offered for financing wedding-related expenses to make this day special for you. A person can avail of loan amounts ranging between Rs.75000 to Rs.35 Lakhs.
- Repayment Tenure- 1 year to 6 years
- Required Age Limit- 21 years to 58 years.
- Processing Charges- Up to 2.75% of the loan amount + GST
- Minimum Income- Rs.20,000 per month
- Work stability – Individuals with at least two years of work experience can apply. You should also be working at your current company for at least six months.
2. Medical Loan
Purpose- Prospective applicants can avail of hassle-free medical loans for the meeting of expenses for medical emergencies, cosmetics, dental, and other medical procedures.
- Loan Amount- Rs.75,000- Rs.35 lakhs
- Loan Repayment Tenure- 1-6 years
- Processing Fees- Up to 2.75% of the loan amount + GST
- Individual’s minimum income must be Rs.20,000 per month.
3. Education Loan
Purpose- Tata Capital funding education expenses for loan amount Up to Rs.35 Lakhs for tenure ranging between 1 to 6 years to help the students to meet their tuition fees and living cost of the students planning to study more (India or abroad).
To avail of an education loan with Tata Capital, you will need to submit your all marksheets and certificates, admission letter, documents for studying (India or abroad, and other identity proofs.
- Individuals must be Indian nationals to apply for a Student Loan.
- Borrower’s age should be existing between 16 to 26 years.
- Good past academic record is must require.
- Either you or your parents should earn a minimum income of Rs.15,000 p.m.
- You would either have a guarantor or you can show security.
4. Travel Loan
Purpose- A travel loan to fund vacation covers all the expenses related to your travel such as airfares or any kind of transportation, hotel fares, tour packages, travel accessories, or any type of expenses that are related to your travel.
- Loan Amount- Rs.75,000 to Rs.35 lakhs
- Minimum Income- Rs.20,000 per month
- Mandatory Documents- identity proof, salary slips, address proof, income proof, and employment certificate.
5. Home Renovation Loan
Purpose- This loan facility will help in giving new looks to home borrowers with funds for making extensive interior upgrades or basic maintenance and repair needs.
- Loan tenure may vary from 1 year to 6 years.
- Processing Fees- Up to 2.75% of the loan amount + GST.
- Applicant should be in the age group of 24 to 65 years.
- If you are a salaried individual, you must earn at least Rs.20,000 per month and have at least two years of experience.
- In case you are an entrepreneur, you must have 3 years of experience in your current field.