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| Tata Capital Home Loan Highlights | |
| Interest Rate | 9.15% p.a. onwards |
| Loan Amount | Rs 5 lakh- Rs 5 crore |
| Loan Tenure | Up to 30 years |
| Processing Charges | Up to 0.50%+GST |
| Minimum Monthly Income | Rs 30,000 |
Note: Rates as of 26th May 2023
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Table of Contents
Tata Capital Home Loan Interest Rates
Regular Home Loan
| Salaried | 9.15% p.a. onwards |
| Self-Employed | 9.15% p.a. onwards |
Other Home Loans
| Loan Types | Interest Rate (p.a.) |
| Home Extension Loan | 8.95% p.a. onwards |
| Affordable Housing Loan | 10.10% onwards |
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Compare Tata Capital Home Loan Interest Rates with Other Lenders
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.50% - 10.15% | 8.50% - 10.05% | 8.50% - 10.05% |
| HDFC | 8.50% - 10.35% | 8.50% - 10.60% | 8.50% - 10.70% |
| LIC Housing Finance | 8.60% – 10.35% | 8.60% – 10.55% | 8.60% – 10.75% |
| ICICI Bank | 9.00%-9.80% | 9.00%-9.95% | 9.00%-10.05% |
| Kotak Mahindra Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
| PNB Housing Finance | 8.75% - 14.50% | 8.75% - 13.00% | 8.75%-11.35% |
| Punjab National Bank | 8.65%-9.60% | 8.60%-9.50% | 8.60%-9.50% |
| Bank of Baroda | 8.60% - 10.65% | 8.60% - 10.65% | 8.60% - 10.90% |
| Union Bank of India | 8.50% – 10.75% | 8.50% – 10.95% | 8.50% – 10.95% |
| IDFC First Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
| L&T Housing Finance | 8.60% onwards | 8.60% onwards | 8.60% onwards |
| Bajaj Housing Finance | 8.50% onwards | 8.50% onwards | 8.50% onwards |
| Tata Capital | 9.15% onwards | 9.15% onwards | 9.15% onwards |
| Federal Bank | 10.15%-10.20% | 10.20%-10.25% | 10.25%-10.30% |
Also know home loan interest rates of top lenders in detail
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Tata Capital Home Loan Processing Fees and Charges
| Processing fees | 0.50% of loan amount |
| Foreclosure charges | No charges on paying off loan through own fund |
| Delayed EMI payments | 2% over the prevailing rate will apply for the period of delay |
| Legal charges | On Actuals |
| Collection agency | On Actuals |
Also know the processing fees for home loans charged by top banks and HFCs
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Types of Tata Capital Home Loan
Tata Capital Housing Loan
Purpose: Regular home loan scheme for purchase or construction of homes. This home loan facility can also be availed to transfer existing home loans to Tata Capital at lower interest rates
Loan Amount: Rs 5 lakh-Rs 5 crore
Tenure: Up to 30 years
Tata Capital Home Extension Loan
Purpose:
Home extension loans are offered to applicants for adding space to the existing dwelling unit
Loan Amount: Rs 2 lakh-Rs 5 crore
Tenure: Up to 30 years
Tata Capital Affordable Housing Loan
Purpose: Special Home Loan Scheme for Economically Weaker Sections, Schedule Castes, Schedule Tribes and women belonging to peripheral regions of Metro cities, Tier I, Tier II and Tier III cities.
Loan Amount: Rs 2 lakh onwards
Tenure: Up to 30 years
Tata Capital NRI Home Loans
Purpose: NRI home loan facility from Tata Capital can be availed for purchasing or constructing home property in India
Loan Amount: Rs 2 lakh-Rs 10 crore
Tenure: Up to 10 years
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Tata Capital Home Loan Eligibility Criteria
- Indian Residents/NRIs/PIOs
- Salaried/Self Employed
- Age: 24-65 Years
- CIBIL/Credit Score: 750 and above
- Minimum Monthly Income: Rs 30,000 for salaried
- Work Experience: Minimum 2 years for salaried applicants, 3 years for self-employed and NRIs
Also know the home loan eligibility of applicants in detail
Tata Capital Home Loan Documents Required
Tata Capital Home Loan Documents Required for Salaried/Self-Employed
- Employer Identity Card
- Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
- Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
- Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhaar Card
Property Papers
- Permission for construction (where applicable)
- Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
- Occupancy Certificate (in case of ready to move property)
- Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
- Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
- Payment Receipts or bank account statements showing all the payments made to builder/seller
Account Statement
- Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
- If any previous loan from other banks/lenders, then loan account statement for last 1 year
Income Proof for Salaried Applicant/ Co-applicant/ Guarantor
- Salary Slip or Salary Certificate of last 3 months
- Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor
- Business address proof
- IT returns for last 3 years
- Balance Sheet & Profit & Loss A/c for the last 3 years
- Business License Details(or equivalent)
- TDS Certificate (Form 16A, if applicable)
- Certificate of qualification (for C.A./ Doctor and other professionals)
Also Read: Documents required for home loans
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Tata Capital Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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FAQs
1. Who can be my co-applicants for Tata Capital home loan?
Ans. Your spouse, children, parents and siblings can be the co-applicants of your Tata capital Home Loan.
2. Can I cancel the sanctioned home loan?
Ans. Yes, you can cancel the sanctioned home loan. However, the processing fee paid during loan application will not be refunded. If you wish to cancel the home loan after receiving the sanction letter, you will have to write to the lender. But all this should be done before the loan disbursal.
3. What is the turnaround time for the sanction of Tata Capital Home Loans?
Ans. Tata Capital claims to sanction home loans to salaried applicants within 4-5 days after the application files reach the NBFC’s credit managers. In case of self-employed home loan applicants, the NBFC’s credit managers might take 7-8 working days to sanction the home loan applications.
4. What is the minimum credit score required to avail Tata Capital Home Loan?
Ans. Tata Capital requires home loan applicants to have credit scores of about 750 and above.
5. Can I foreclose my home loan availed from Tata Capital?
Ans. Yes, you can foreclose the home loan availed from Tata Capital. No prepayment charges are levied on making home loan prepayments.