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Tata Capital Personal Loan Interest Rates and Loan Types
| Particulars | Interest rates (p.a.) |
| Personal loan for salaried | 10.99% onwards |
| Personal loan for self-employed | 10.99% onwards |
| Personal loan for women | 10.99% onwards |
| Marriage loan | 10.99% onwards |
| Medical loan | 10.99% onwards |
| Travel loan | 10.99% onwards |
| Personal loan for home renovation | 10.99% onwards |
| Personal loan for government employees | 10.99% onwards |
| Personal loan overdraft | 14.75% onwards |
Note: Interest rates as on 20th June 2024
Apply for Tata Capital Personal Loans at Attractive Interest Rates Click Here
Comparison of Personal Loan Interest Rates offered by Various Banks/NBFCs
| Banks/NBFCs | Interest Rates(p.a.) | |
| Axis Bank | 11.25% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.99% onwards | Apply Now |
| HDFC Bank | 10.75% onwards | Apply Now |
| ICICI Bank | 10.85% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 10.99% onwards | Apply Now |
| Federal Bank | 12.00% onwards | Apply Now |
| DMI Finance | 12.00% - 40.00% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 16.00% - 29.95% | Apply Now |
| MoneyTap | 13.00% onwards | Apply Now |
| Piramal Finance | 12.99% onwards | Apply Now |
| Aditya Birla | 10.99% onwards | Apply Now |
| Moneyview | 15.96% onwards | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
Also Read: Which bank/NBFC is best for availing personal loans in India?
Apply for Tata Capital Personal Loans at Attractive Interest Rates Click Here
Factors influencing Tata Capital Personal Loan Interest Rates
Credit Scores
Tata Capital provides personal loans to salaried applicants based on their credit scores. However, the non-banking financial company (NBFC) has not specified their personal loan interest rates matrix for prospective borrowers on the basis of their credit scores.
Personal loan applicants can follow healthy credit behaviours like paying their EMIs on time, avoiding multiple loan applications within short durations, maintaining an optimal credit mix, etc. to increase/maintain their credit scores and thereby, improve their personal loan eligibility. They should also review their credit reports at regular intervals to find any mistakes in the report and highlight it to their lender or credit bureaus. Any error in a loan applicant’s credit report can reduce his credit score and negatively impact his eligibility for availing personal loans. Lower credit scores may also reduce loan applicants’ chance of availing Tata Capital Personal Loans at lower interest rates.
Apply for Tata Capital Personal Loans at Lower Interest Rates Click Here
Income
Tata Capital has a minimum monthly income requirement of Rs 15,000 for their salaried personal loan applicants. Although Tata Capital has not specified the differential personal loan interest rates based on their loan applicants’ income, many lenders do provide lower interest rates for personal loan applicants having higher incomes. Borrowers with higher incomes usually have higher loan repayment capacity as well, which reduces the lender’s credit risk. Lenders can then pass on this benefit to the personal loan borrower in the form of lower interest rates.
Occupation Profile
Tata Capital sets their personal loan interest rates based on their loan applicants’ occupation profile and work experience. The NBFC has not specified offering differentiated interest rates on their personal loans based on their employer profile. However, many lenders consider the employer profile of their loan applicants while finalising the interest rates on their personal loans. Lenders usually offer lower interest rates on personal loans for salaried applicants when compared to personal loan for self-employed applicants. Within salaried applicants, lenders provide lower interest rates for employees working for the government or PSUs as their income and job security are usually higher compared to other salaried applicants. Lenders also offer lower interest rates on personal loans to employees working in MNCs or reputed private sector companies as their capacity of withstanding adverse economic conditions is usually better than other organisations in the private sector.
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Existing Relationship with Tata Capital
Even though Tata Capital has not specified offering discounted personal loan interest rates to their existing customers, various lenders give interest rate concessions to personal loan applicants already having lending/deposit accounts with them. Hence, loan applicants looking to avail Tata Capital Personal Loans should first contact lenders with whom they already have existing lending/banking relationships and then, compare the interest rates offered by those lenders with Tata Capital’s Personal Loan interest rates .
Tips to Avail Personal Loans at Low Interest Rates
- Maintain credit scores of 750 and above.
- Check the pre-approved personal loans offered from multiple lenders.
- Track personal loan rates of interest offered by top banks/NBFC, especially during the festive season.
- If you have a lending or deposit account with one or more lenders, ask them if they can offer you a personal loan at reduced interest rates.
- Check online financial marketplaces to compare Tata Capital’s Personal Loan interest rates with the personal loan interest rates offered by different lenders.
Apply for Tata Capital Personal Loans at Attractive Interest Rates Click Here
FAQs
What is the interest rate offered by Tata Capital on their personal loan schemes?
Ans. The personal loan interest rates offered by Tata Capital start from 10.99% p.a. The lender sets the personal loan interest rates of their loan applicants depending on the loan scheme type and occupation profile of the loan applicants as well as other factors like their CIBIL/Credit score, monthly income, loan tenure, loan amount, repayment capacity, nature of employment, etc.
What is the interest rate for Rs 5 lakh personal loan in Tata Capital?
Ans. Tata Capital offers personal loans of Rs 5 lakh at interest rates of 10.99% p.a. onwards. The interest rates offered by the lender to loan applicants availing Rs 5 lakh personal loans depend on the type of loan scheme and their loan applicants’ occupation profile along with additional factors like their Credit/CIBIL score, repayment capacity, monthly income, loan amount, loan tenure, employment profile, etc.
How to get the lowest personal loan interest rate from Tata Capital?
Ans. Tata Capital has not disclosed the eligibility conditions that its loan applicants should fulfil to avail personal loans at lowest rates offered by the lender i.e. 10.99% p.a. However, prospective borrowers having the best credit profile as per the credit risk assessment process of the lender are more likely to avail Tata Capital Personal Loans at lowest interest rates.
Does Tata Capital offer personal loans at fixed or floating interest rates?
Ans. Tata Capital offers fixed interest rates on its personal loans. As the interest costs for availing fixed interest rate personal loans remain constant throughout the loan tenure, choosing fixed interest rate personal loans provides higher certainty to borrowers, in terms of their budgeting and interest costs.