Catering to your immediate financial needs, Tata Capital offers personal loans of up to Rs. 25 lakh that can be used to pay medical bills, renovate your home, go on a vacation, get married, consolidate debts and much more. Tata Capital Personal Loan can be applied online from the comfort of your home or office and can be conveniently repaid within a flexible tenure that goes up to 72 months.
Tata Capital Personal Loan Eligibility Criteria
The following are the key eligibility criteria for availing a Tata Capital personal loan:
For Salaried Individuals:
- You should be at least 22 years old
- Your maximum age at the time of loan maturity should be 58 years
- Your minimum income should be Rs. 15,000 per month
- You should have work experience of at least 1 year
For Self- Employed Individuals:
- You should be at least 22 years old
- Your maximum age at the time of loan maturity should be 58 years
- Your minimum monthly income should be at least Rs. 15,000
- You must have a minimum 3 years’ experience in the current business
Tata Capital Personal Loan Eligibility Calculator
To help you increases the chances of a successful personal loan application, Paisabazaar offers you the option to check your personal loan eligibility online across 30+ lenders. Using this free tool, you can know your eligibility for a Tata Capital Personal Loan and also find out the offer available along with chances of approval easily from the comfort of your home or office. Also, if you have multiple options, you can compare the different personal loan offers on the Paisabazaar platform itself and then choose the one that suits your unique need.
How to Use Paisabazaar Personal Loan Eligibility Calculator?
- Go to the Paisabazaar Personal Loan Eligibility Calculator page
- Choose occupation type
- Enter your required loan amount, monthly income, mobile, current city and company name
- Click on ‘proceed’ to view loan offers that you might be eligible for sorted according to chances of approval.
Tata Capital Personal Loan Documents Required
For Salaried Individuals:
- Proof of identity: Voter ID Card, Aadhaar Card, Driving License, PAN Card, etc.
- Proof of residence: Utility Bills (phone bill, electricity bill, etc.), Voter ID Card, PAN Card, Passport, etc.
- Income proof: A copy of your bank statements for the last 6 months/Last 3 months’ salary slip
- Employment certificate: A certificate stating 1 year of continuous employment
For Self- Employed Individuals:
- Proof of identity: Voter ID Card, Aadhaar Card, Driving License, PAN Card, etc.
- Proof of residence: Utility Bills (phone bill, electricity bill, etc.) Voter ID Card, PAN Card, Passport, etc.
- Income documents: Certified P&L Statement for the past 3 years, Acknowledged ITR statement for the past 3 years
- Business Continuity: Proof of business existence for at least past 3 years.
Read more about Tata Capital Personal Loan Documents Required.
How to Improve Your Tata Capital Personal Loan Eligibility?
- Have a good credit score: If you have a good credit score, you won’t only have a higher chance of being eligible for a personal loan but may also get a lower interest rate. However, if you have a low credit score, your personal loan application might be rejected by the lender
- Minimise your debt: Minimizing your debt reduces your fixed obligations related to servicing existing debt which improves your payment capacity. This increases your chances of being approved for a new personal loan.
- Include all sources of income: If you get variable pay or rental income every month, include them in your monthly income as higher the income, higher would be the chances of being eligible for a personal loan
FAQs
Q1. I live in Jaipur. Am I eligible for Tata Capital Personal Loan?
No. Currently you can apply for Tata Capital Personal Loan only if you reside in a few key cities of India including Delhi, Pune, Mumbai, Bangalore, Chennai, Noida, and Vizag. However, you may be eligible for other loan products of Tata Capital that are available in your city.
Q2. What is the minimum and maximum loan amount that I can avail from Tata Capital?
You can avail a minimum loan amount of Rs. 75,000 and a maximum loan amount of Rs. 25 lakh if you opt for the Tata Capital personal loan.
Q3. Am I eligible for Personal Loan Balance Transfer facility at Tata Capital?
Tata Capital allows select existing customers to transfer their personal loan from another lender to Tata Capital at a lower rate of interest. However, you should call Tata Capital customer care at 1860-267-6060 (between 9AM to 8 PM, Monday to Saturday) and check if you are eligible for this facility or not.
Q4. Am I eligible to get a low interest rate on a personal loan from Tata Capital?
Interest rate offered by Tata Capital on a personal loan starts from 10.99%. However, the actual interest rate applicable on your Tata Capital personal loan depends on multiple factors such your credit score, repayment history, age, employer, etc.
