Tata Capital Personal Loan

Key Advantages of

A Review

Capital

Applicant’s personal loan eligibility criteria depend on various factors, including a monthly income inflow, age, employment type, CIBIL score, experience, etc.

Occupation

Age Limit

Salaried or Self-employed professional

22 years to 58 years

Minimum Monthly Income Rs 15000

Minimum Work Experience

At least one year of work experience

Debt to income ratio- This is your EMI pay-out divided by your total monthly income Your DTI ratio should be below 50% for the highest personal loan eligibility

Monthly income method- Usually, you can get a loan of up to 30 times your monthly income

Documents Required for Tata Capital Personal Loan

Photo identity proof- A copy of Voter ID card/ Passport / Driving License or Aadhaar Card

Proof of income- A copy of Bank statements for the last six months

Salary slips- A copy of Salary Slips for the last three months (salary account)

Proof of address- Ration Card / Electricity Bill / Passport

Employment Certificate- A certificate declaring one year of continuous employment

Steps to Apply for Tata Capital Personal Loan (online and offline)

Steps to avail of Tata Capital personal loan offline

Visit your nearest Tata Capital branch

Submit the personal loan application and the required mandatory documents

You can get in touch with a Tata Capital representative over a phone call Offline loan applications can take a few business days to process and approve

Steps to avail Tata Capital instant personal loan online

To get immediate approval on the Personal Loan, apply online with all the basic necessary details

Apply for the personalized loan offered by your lender as per your eligibility and furnish the required documents

After this, experts verify the loan application and submitted KYC papers Online personal loans are approved within less time from application submission

After approval you will receive the amount directly in your bank account

Post-Dated Cheque Charges Rs 850 + GST

Part Payment Charges

Foreclosure 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

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

Foreclosure Charges in CCOD Cases

Foreclosure Charges on Term Loan Facility

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

4 5% on the Dropped down limit amount + applicable GST

Any foreclosure made during the Lock-in Period will attract an additional 2% above the prepayment charges mentioned + applicable taxes on the Dropped down limit

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 – NIL Branch Visit – Rs 199 + GST

For Example- Preeti avails a personal loan for Rs 15 Lakhs, the interest rate is 11% and the repayment period is 36 months What are the EMIs, total interest payable, and total amount? Monthly EMIs of Rs 49,108 08, the total interest payable will be Rs 2,67,890 72 and the total amount repayable in 36 months will be Rs 17,67,890 72 (principal + interest)

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)

Also Read- Bank of Baroda Personal Loan

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

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

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 fi

Pros and Cons of Tata Capital Personal Loan

Comparison Chart:

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