Tata Capital Consumer Loan

Tata Capital Ltd. offers Consumer Loans to enable individuals fund the purchase of more than 100 different consumer durable products including mobile phones, TVs, washing machines, air conditioners, laptops, home theatres, etc. at 0% EMI (conditions applicable). Just visit the partner store of Tata Capital, make the minimal down payment to purchase your favourite product and repay it within a tenure ranging from 6 to 24 months.

Features of Tata Capital Consumer Loan

 

• Loan amount: Starting from Rs. 10,000, the amount offered by Tata Capital Consumer Loan goes up to Rs. 5 lakh and thus individuals are able to buy a wide range of products as per their choice
• 0% interest: Tata Capital offers consumer durable loans at 0% interest (conditions applicable) along with the benefit of minimal down payment to avail the loan
• Minimum documentation: Tata Capital asks for onlybasic KYC documents to sanction your loan application
• Flexible tenure: You can buy your favourite product instantly with Tata Capital Consumer Loan and can repay the loan within a flexible tenure ranging from 6 to 24 months
• No foreclosure charges: If you wish to prepay your consumer durable loan before the tenure ends, you can foreclose it without any additional charges
• Pre-approved EMI Card: If you are an existing customer of Tata Capital, you get a pre- approved EMI card. You can just walk in to any of the partner stores with the card and buy your desired product with the benefit of 0% EMI (subject to applicable terms and conditions)

Tata Capital Consumer Loan Interest Rate

Tata Capital Consumer Loans are offered at interest rates as low as zero EMI, however, actual rate might at times be higher depending on key factors such as applicant’s profile.

Eligibility Criteria

For Salaried Individuals

• You should be at least 21 years old
• Your maximum age should be 60 years
• You should have a minimum total working experience of at least 2 years

Also Know: Features and Benefits of Personal Loans for Salaried Employee

For Self- Employed Individuals

• You should be at least 21 years old
• Your maximum age should be 65 years

Documents Required for Tata Capital Consumer Loan

For Salaried Individuals:

• Photo Identity Proof: A copy of Passport/ Voter ID Card/ Aadhaar Card/ Driving License/ PAN Card
• Address Proof: A copy of your Electricity Bill/ Ration Card/ Passport
• Income Proof: A copy of your salary account bank statements of last six months showing your salary
• Salary slips: A copy of your salary slips for the last 3 months

For Self- Employed Individuals:

• Photo Identity Proof: A copy of Passport/ Voter ID Card/ Aadhaar Card/ Driving License/ PAN Card
• Address Proof: A copy of your Electricity Bill/ Ration Card/ Passport
• Income Proof: Latest bank statements and ITR of last 2 years

Fees and Other Charges

The following are some of the key fees and charges other than interest rate that are related to Tata Capital Consumer loan:

Comparison of Tata Capital Consumer Loan vs. Other Lenders

The following table compares the consumer loan of Tata Capital to consumer loans offered by other leading lenders:

Tata Capital Customer Care

The following are the best ways to reach a customer service representative of Tata Capital:

• You can call on 1860-267-6060 (Between 9 AM to 8 PM Monday to Saturday. Closed on Sundays and Public Holidays)
• Visit the nearest branch of Tata Capital

FAQs

Q1. What are the products that can be purchased using Tata Capital Consumer Loan?

A wide range of consumer products ranging from laptops and mobile phones to air-conditioners and Hometheatre systems can be bought using a Tata Capital Consumer loan.

Q2. How do I repay Tata Capital Consumer Loan?

You can repay the loan either through Debit/ECS facility or can provide post- dated cheques. However, a small fee would be charged if you make the payment through post dated cheques.

Q3. What is an EMI card?

An EMI card gives you the access to pre- approved loan limit that can either be used to shop for appliances and electronics or to convert the cost of your purchase into EMIs.

Q4. Would I be paying a prepayment fee if I foreclose the loan?

No, you can prepay the loan without paying any fees.

Q5. What is the maximum repayment tenure for the Consumer Durable Loan?

Currently the maximum repayment tenure offered by Tata Capital on its consumer durable loan is 24 months.