Tata Capital Mortgage Loan 2020
|Interest Rate||10.10% onwards|
|Loan Amount||Rs. 10 lakh to Rs. 3 crore|
|Loan Tenure||1 – 15 years|
|Processing Fees||1% of the loan amount + GST|
Note: The figures given in the table are indicative and are subject to change as per changes in UCO Bank or RBI policies.
Tata Capital offers Loan against Property against both commercial and residential properties at an attractive interest rate starting at 10.10% p.a. The loan is offered at high value ranging from Rs. 10 lakh to Rs. 3 crore, helping individuals meet any sort of personal or business related financial expenses. The loan also comes with overdraft and pre-qualified top up facilities among others.
Tata Capital Loan Against Property Features & Benefits
- Attractive interest rate starting at 10.10% p.a.
- Flexible repayment tenure ranging from 1 to 15 years
- High loan value ranging from Rs. 10 lakh to Rs. 3 crore
- Diverse collateral accepted
- Offers overdraft and pre-qualified top up facility
- Quick loan processing
Check Also: Loan Against Property Benefits
Tata Capital Loan Against Property Interest Rates
Tata Capital Mortgage Loan interest rate is 10.10% onwards. But the rate of interest at which you will get Tata Capital Loan Against Property Loan will depend on various factors including your income, existing liabilities, credit history and market value of the property.
Tata Capital Loan Against Property Processing Fees & Other Charges
|Processing Fee||Up to Rs. 30 lakh: 2% of finance amount|
From Rs. 30 lakh: Rs. 50 lakh: 1.5% of finance amount
Above Rs. 50 lakh HE: 1% of finance amount
Above Rs. 50 lakh HE Plus: 1.25% of finance amount
|Penal interest/Additional Interest||3% on Overdue Amount per month|
|Part Prepayment Charges|
(9 months lock-in period)
|After 9 months, A maximum of 25% of the principal outstanding is allowed by way of part prepayment during the entire tenor of the loan, with payments being made in 2 tranches at the maximum|
|Foreclosure Charges||4% of the outstanding principal|
|Foreclosure within Lock-in Period||Lock-in period charges (Prevailing ROI x Principal Outstanding as on date of Foreclosure x Balance Lock-in) + Foreclosure charges (4%)|
|Stamp Duty||As per actuals|
|Loan Cancellation Charges||Rs. 25,000|
|Bounce Charges||Rs. 2,000|
|Mandate Rejection Service Charge||Rs. 450|
Charges will be applicable on your EMI Due date in case the account does not have an Active mandate after the exhaustion of the given post-dated cheques. This charge would be applied every month until there is an Active Mandate linked to the account.
|Instrument Swapping Charges||Rs. 550 per instance|
|One Time Maintenance Charges||Rs. 2,000|
|Legal & Technical Charges||Up to Rs. 1 Crore: Rs. 6,000|
Above Rs. 1 Crore: Rs. 11,000
Note: The fees/charges indicated above are subject to revision at Tata Capital’s discretion from time to time.
* Applicable Goods and Services Tax (GST) will be levied in addition to the mentioned charges.
Tata Capital Loan Against Property EMI Calculator
Tata Capital loan against property EMI calculator helps in calculating the EMI amount, which you are required to pay each month towards your loan. To get results, you need to provide a few basic details regarding the loan such as the principal amount, tenure and interest rate. Once the details are provided, the calculator shows the approximate EMI value. Click to know your Tata Capital Loan Against Property EMI.
Check Also: Loan Against property EMI Calculator
Tata Capital Loan Against Property Eligibility
The minimum requirements that a customer must meet in order to avail a Tata Capital mortgage loan are as follows:
|Parameters||Salaried||Self Employed Professionals||Self Employed Non-Professionals (Individuals)||Non Individuals|
|Segment||Working in MNC/Public Ltd. Co./Large Pvt. Ltd. Co./State Govt./Central Govt./PSU||Doctors, Architects, Chartered Accountants||Traders, Retailers and Wholesalers||Firm, Pvt. Ltd., Public|
|Age||25 – 60 Years (at loan maturity)||N/A|
|Income Per Month||Rs. 2.4 lakh||Rs. 2.5 lakh||Rs. 2.5 lakh||Rs. 3 lakh|
|Occupational Stability||Minimum 3 Years||Min. 3 Years (with 2 years cash profit)|
Check Also: Loan Against Property Eligibility Calculator
Tata Capital Loan Against Property Documents Required
|Duly filled and signed Tata Capital LAP Application Form|
|Passport sized photographs|
|Form 16 & latest 2 months’ salary slips||IT returns, Profit & Loss and Balance Sheet|
|Latest 6 months bank statements|
Check Also: Loan Against Property Documents Required
How to Apply for Tata Capital Loan Against Property
Customers can apply online for Tata Capital Loan Against Property through Paisabazaar.com by simply following the below-mentioned steps.
- Visit the Loan Against Property page
- Provide required information such as loan amount required, type of home loan required, mobile number, email address, etc.
- View & compare eligible LAP offers
- Apply for the best LAP offer
As soon as you apply, you will be prompted for income verification. Verify your income and get a quote approval along with a reference number, which you can use to track your Tata Capital LAP application status. Soon, a representative from Paisabazaar will connect with you on the provided contact number to process your application.
An alternative way to apply for Tata Capital LAP is through its website or by visiting the nearest branch.
Tata Capital Loan Against Property Customer Care
Get in touch with Tata Capital Loan Against Property Customer Care through call, email and post. They can also visit the nearest branch of Tata Capital to get their queries and issues resolved. The Tata Capital customer care details are as follows:
|Toll Free Number||1860 267 6060 (Between 9 a.m. to 8 p.a.; Mon-Sat; Closed on Sundays & Public Holidays)|
|Email ID (only for home loan customers)||email@example.com|
|Postal Address||11th Floor, Tower A,|
Peninsula Business Park,
Ganpatrao Kadam Marg, Lower Parel
Mumbai – 400013
Tata Capital Loan Against Property FAQs
1. How does Tata Capital determine eligibility for loan against property and the loan amount?
Ans. There are certain factors which are considered to determine loan amount and eligibility:
- Valuation of property
- Existing obligation if any
- Stability / continuity of employment / business
- Past borrowing track record
2. What is the maximum amount which can be offered as Tata Capital property loan?
Ans. Rs. 3 crore is the maximum amount that is offered as loan against property.
3. What security is to be provided for availing a loan against property in Tata Capital?
Ans. The security for the loan will be the first mortgage of the property to be financed, generally by the way of deposits of titles deeds. The borrower has to ensure that property is marketable, clear and free from debt. There should not be any existing loan, debt, mortgage, lien or litigation which is likely to affect the title to the property negatively.
4. What is the loan against property sanctioning and disbursement process?
Ans. Tata Capital follows a step by step process listed below:
- Loan application form
- Loan documents
- Documents required to avail loan from Tata Capital (property + financial documents)
- Personal discussion
- Investigation verification
- Sanctioning of loan
- Compliance of loan
- Property/loan assessment
- Disbursement of loan
5. What are loan documents required for a balance transfer case?
Ans. The following documents are required for a balance transfer scenario:
- A loan sanction letter or welcome letter from the buy over institution
- Last 6 months record statement or applicants or bank statement from where the loan is being serviced
6. Does the property against which loan is to be taken have to be insured?
Ans. You will have to assure that the property is duly and accurately insured against fire and all other kind of calamities and hazards as required by Tata Capital during the tenor of the loan and to produce evidence thereof to the bank each year or whenever called upon to do so.