Tata Capital Personal Loan Highlights
|Interest Rate||10.99% p.a. onwards|
|Loan Amount||Rs. 75,000 – Rs. 25 lakh|
|Loan Tenure||12 months to 72 months|
|Minimum Eligible Income||Rs. 15,000 p.m.|
|Foreclosure Charges||4.5% on loan principal foreclosed|
|Processing Fees||Up to 2.75% of loan sanctioned|
Tata Capital offers personal loans of up to Rs. 25 lakh to individuals applying online, calling the customer care number or visiting the nearest branch. Tata Capital personal loan interest rates start at 10.99% p.a. and the tenure can extend up to 72 months. With minimum paperwork involved, your personal loan application is processed instantly and the loan amount is disbursed quickly.
Features of Tata Capital Personal Loan
- Loan amount: Tata Capital offers a personal loan amount of maximum Rs. 25 lakh that can be used to fulfill many personal expenses
- Instant online approval: Once you submit all the documents and other information, you get an instant in-principal approval on your personal loan
- Flexible tenure: Tata Capital ensures that your repayment schedule is stress-free and offers you a flexible tenure ranging from 12 to 72 months
- Quick fund disbursal: Once your Tata Capital personal loan application gets processed, your funds can get disbursed within as short a time as a few hours
- Zero part-prepayment charges: Tata Capital allows prepayment of a personal loan after completion of 6 months i.e. repayment of at least 6 EMIs. Zero part payment charges are applicable if the amount you part pre-pay on your loan up to 25% of the loan amount
- Overdraft facility: Tata Capital’s personal loan offers an overdraft limit which allows you to withdraw additional money up to a pre-arranged limit. The interest on the overdraft is charged only on the amount you use
- Minimal documentation process: To apply for Tata Capital personal loan, you only need to submit basic documents for a hassle-free process
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Tata Capital Personal Loan Interest Rates
Tata Capital Personal Loan interest rate starts at 10.99%. Specific interest rates applicable to an applicant are dependent upon several factors including but not limited to credit score, customer segment, loan amount and location.
Types of Tata Capital Personal Loan Products
|Type of Personal Loan||Interest Rate (p.a.)|
|Home Renovation Loan||Starting at 10.99% p.a.|
|Overdraft Loan||Starting at 13.50% p.a.|
- Tata Capital Home Renovation Loan: Remodel or renovate your home without any money constraints with Tata Capital Home Renovation Loan. the Home Renovation Loan comes with the following features:
- One can avail a loan up to Rs. 25 lakh
- The loan tenure can vary between 12 to 72 months
- Requires no collateral or security to avail
- Interest rate starts at as low as 10.99%
- Tata Capital Wedding Loan: You can make your dream wedding possible with a Tata Capital Wedding Loan. Whether you want to book that perfect venue, hire a high-end wedding photographer or buy that beautiful dress from your favourite designer, a wedding loan can help you pay for all wedding-related expenses. Key features of the wedding loan are:
- One can avail a loan up to Rs. 25 lakh
- The loan tenure can vary between 12 to72 months
- Early part repayment of the loan can be done without any extra charges/cost
- Interest rates start at as low as 10.99%
- No collateral or security is required to obtain the loan
- Minimal paperwork and quick approval/disbursal of loans
- Tata Capital Medical Loan: Medical emergencies can strike anyone anytime and being short of funds at such a crucial time can be really stressful. Tata Capital Medical Loan offers flexible repayment options for all medical, dental and cosmetic procedures. The features of Tata Capital’s Medical Loan are as follows:
- Applications receive instant e-approval once all the required documents are submitted
- Minimum paperwork and quick disbursal of loans
- Applicant has the flexibility to decide the loan amount, tenure and repayment options
- Requires no collateral or security to be provided
- Tata Capital Travel Loan: This personal loan from Tata Capital lets you undertake your dream trip without falling short of funds. It covers all travel related expenses like hotel and airfares (all kinds of transportation expenses), tour packages, etc. The features of the Tata Capital Personal Loan for Travel include:
- Quick turnaround time from application to disbursal. Funds may be credited in the customer’s bank account within a couple of days subsequent to approval
- Requires minimum paperwork and no collateral
- Features tenure of up to 72 months
- Tata Capital Overdraft Loan: The overdraft facility is applicable to Tata Capital Personal Loans lets customers withdraw and pay back multiple times within their sanctioned credit limit. Interest is charged only on the amount utilized. Some key features of the Overdraft Loan are given below:
- The loan amount sanctioned can range between Rs. 2 lakh to Rs. 25 lakh depending upon your loan eligibility and other criteria
- Interest rate starts at 13.50% p.a.
- Simple documentation and minimum paperwork
- Customers can withdraw and pay back multiple times within the sanctioned limit
- Allows part-payment without any extra charge
- Offers Fixed Hybrid Overdraft facility, whereby the sanctioned limit of the loan remains fixed for a pre-determined tenure (1 year for 4 year loan tenure/2 years for 5 year loan tenure). Subsequently, there is a drop in limit for the rest of the tenure.
To avail Tata Capital personal loan, the following personal loan eligibility criteria need to be fulfilled:
For Salaried Individuals:
Particulars of Applicant
Minimum Monthly Income
Minimum Work Experience
Should be in the same job for at least 1 year
For Self-Employed Individuals:
Particulars of Applicant
Minimum Monthly Income
Minimum Work Experience
Documents required for Loan Application
The following documents are required to avail Tata Capital Personal Loan:
- Photo Identity Proof: A copy of your PAN/Aadhaar/Passport/Voter ID/Driving License etc.
- Income Proof: A copy of salary account bank statements for the past six months
- Address Proof: A copy of your Electricity Bill (not more than 3 months old) / Ration Card / Passport
- Salary slips for last 3 months
- Employment Certificate: A certificate issued by employer certifying one year of continuous employment with the current employer
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How to Apply for Tata Capital Personal Loan with Paisabazaar?
The application process for Tata Capital Personal Loan with Paisabazaar involves the following steps:
Step 1- Visit Paisabazaar.com and fill out the online application form to check offers.
Step 2 – You will get a list of personal loan offers from different banks/NBFCs listed as per the chances of approval.
Step 3 – Contact Paisabazaar for assistance or select a prospective lender from the list.
Step 4 – Complete and submit your loan application online.
Personal Loan Verification Process
Once your personal loan application is successfully submitted online on Paisabazaar, the verification process involves the following steps:
Step1. Paisabazaar forwards your loan application to the chosen lender. This is followed by a call from the lender’s representative typically within 48 hours of submission of the online loan application. .
Step2. The prospective lender schedules a pickup of your KYC, income, etc. documents or offers an option to upload them online. These documents are used to verify your application.
Step3. Upon the successful completion of the lender’s verification and the approval of the loan, the customer receives another call to verify the loan offer and ask for your consent for disbursal.
Step4. After successful verification and loan approval, the loan is usually disbursed within 48 hours.
Note: The above mentioned turnaround time for personal loan verification/disbursal may vary based on lender’s internal requirements as well as other criteria.
Check Tata Capital Personal Loan Application Status
Customers can check the status of their personal loan application through the following ways:
- In case you have applied for a Tata Capital personal loan through the mobile app, the real time status of your application will be visible on your app.
- In case you have applied through the company’s online portal, then you can contact Tata Capital via email at firstname.lastname@example.org or call up customer care between 9:00 a.m. – 6:00 p.m. from Monday to Saturday (Except Public Holidays) on 1860 267 6060 (toll-free)
Fees and other Charges
|Loan Processing Charges||Up to 2.5% of the loan amount + GST|
|Part Prepayment Charges||· Part prepayment is applicable post repayment of 6 EMIs without any penalty or additional fee.|
· A fee of 2.5% of the amount paid plus GST is applicable beyond 25% of principal amount outstanding.
|Penal Interest/ Additional Interest||3% on overdue amount per month + GST|
|Post- dated cheque charges||Rs. 850 + GST|
|Cheque Bounce Charges||Rs. 600 for every Cheque/ ECS Dishonour/ Payment Instrument + GST|
|Cancellation charges||2% of loan amount or Rs. 5750, whichever is higher + GST|
|Instrument swapping charges||Rs. 550 + GST|
|Foreclosure charges||● No Foreclosure is allowed in first 6 months|
● 4.5% on the principal amount outstanding (dropped down amount) + GST
|Mandate Rejection Service Charge||Rs. 450 + GST (Charges will be levied on the EMI due date if the account does not have an active mandate after the exhaustion of the given post-dated cheques. This charge would be levied every month till an active mandate is activated.)|
|Outstation Collection Charges||Rs. 100 + GST|
How to Login on Tata Capital Portal
The login process involves the following steps:
1. Visit the official website of Tata Capital.
2. Click on ‘Login’ located at the top right hand corner of the page and select ‘Retail Customer Login’.
3. Now you can login using your registered mobile number/email id. Customers can also login using their Tata Capital website User ID and Password.
Tata Capital Personal Loan Statement
You can obtain your Tata Capital personal loan statement in 2 ways:
- Download the online statement and personal loan amortization scheme by logging into your online Tata Capital account or
- Visit your nearby Tata Capital representative office and get a physical i.e. printed copy of your personal loan statement.
Calculating EMI before applying for personal loan helps you in making sure that the loan EMI payments do not adversely impact your monthly budget. It also helps in reducing the risk of defaulting on your loan. Finding an EMI that best suits your requirement through manual calculations is a tedious task, therefore, Tata Capital offers you a Personal Loan EMI calculator.
The rate of interest for Tata Capital Personal Loans starts at as low as 10.99%. The table below depicts a sample of loan amounts and the EMI payable for different loan tenure and interest rates.
|Loan Amount (Rs.) and Interest Rate||Monthly EMI Payout (Rs.)|
|1-year loan tenure||2-year loan tenure||3-year loan tenure||4-year loan tenure||5-year loan tenure|
|5 lakh @ 11.25% p.a.||Rs. 44,249||Rs. 23,362||Rs. 16,429||Rs. 12,984||Rs. 10,934|
|10 lakh @ 13% p.a.||Rs. 89,317||Rs. 47,542||Rs. 33,694||Rs. 26,827||Rs. 22,753|
|20 lakh @ 15% p.a.||Rs. 1,80,517||Rs. 96,973||Rs. 69,331||Rs. 55,661||Rs. 47,580|
Comparison of Tata Capital Personal Loan vs Other Lenders
The following is a table comparing the key features of a personal loan from Tata Capital to other top lenders in India:
|Particulars||Tata Capital||HDFC Bank||Citi Bank||Axis Bank||ICICI Bank||Bajaj Finserv|
|Interest Rate||Starting from 10.99%||10.75% to 21.30%||Starting from 10.50%||11.49% to 17.49%||11.25% to 22.00%||Starting from 12.99%|
|Tenure||12 to 72 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months||12 to 60 months|
|Loan amount||Upto Rs. 25 lakh||Upto Rs. 40 lakh||Upto Rs. 30 lakh||Rs. 50,000 to Rs. 15 lakh||Upto Rs. 20 lakh||Upto Rs. 25 lakh|
|Processing Fee||Upto 2.5% of the loan amount plus GST||Upto 2.50% of the loan amount||Upto 3% of the loan amount||2% of loan amount plus GST||Upto 2.25% of loan amount plus GST||Up to 4.13% of the loan amount|
Tata Capital Customer Care
Customers can contact the company’s customer through any of the following ways:
- By Phone: You can call on 1860-267-6060 (between 9AM to 8 PM; Monday to Saturday). Standard call charges may apply.
- Email: You can send an email on email@example.com or firstname.lastname@example.org (For existing Customers) to get support from customer care.
- Branch Visit: You can also visit the nearby Tata Capital branch to get your queries answered by a representative.
- Write to the Company: You can receiver customer support/grievance redress by writing to Tata Capital at 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013.
Benefits of Applying for Personal Loan at Paisabazaar
Given below are the various benefits of applying for a personal loan at Paisabazaar.com:
- com enables you to make the right decision, by offering you the option to compare important personal loan features like interest rate, foreclosure charges, etc. across 30+ lenders on a single platform
- The completely online platform eliminates the need to physically visit the prospective lender’s branch office
- You can automatically compare the EMI payout of different personal loan options to help you decide the most suitable personal loan offer
- Customers can access Paisabazaar’s website at their own time and convenience-anytime, anywhere
- The comparison service provided by Paisabazaar.com is completely free of charge.
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- To avail the best deal, different interest rates and charges should be compared online before actually applying for a personal loan
- Consider the complete cost of the loan. Interest is not the only cost that you need to pay. Other charges like processing fee, late payment fee, prepayment fee, etc. might also be considered while deciding upon a particular personal loan
- Avoid applying for a personal loan with multiple lenders at the same time. It may lead to an increase in the number of hard inquiries for your credit report and may adversely affect your chances of approval
- Check your credit score before applying for a loan. It is one of the first things that lenders consider before lending money to a person. Low credit score might lead to an increase in the interest rate charged by the bank or the rejection of your loan application
- Borrow only what you need and can pay back. Don’t borrow simply because you are eligible to borrow a higher amount
Q1. I live in Mumbai. Can I apply for Tata Capital personal loan?
Yes, you can apply for Tata Capital personal loan if you live in Mumbai. You can also apply for this personal loan if you are living in major cities across India like Delhi, Noida, Pune, Chennai, Bangalore, Vizag, etc.
Q2. What should I do if I have a low credit score?
If you have a low credit score, you can take a joint loan with either your spouse or parent (only if their credit score is good). However, credit score is only one of the factors impacting eligibility for a personal loan as other factors including your repayment capability will also be considered at the time of approval.
Q3. Can I transfer my existing personal loan to Tata Capital?
Yes, you can get your existing personal loan transferred to Tata Capital. There are of course charges for a personal loan balance transfer and these are decided on a case to case basis.
Q4. How much time will it take for a personal loan to get disbursed?
Once the verification process is completed and your personal loan is approved, Tata Capital usually takes 72 hours to disburse your personal loan.
Q5. How is Tata Capital Personal overdraft loan different from term personal loan?
Tata Capital personal overdraft loan features an overdraft facility which lets customers withdraw additional funds up to an agreed limit and interest is charged only on the amount that they use. Besides, it does not charge customers on part pre-payment after 6 months of availing a personal loan. These features set the overdraft loan apart from a term personal loan.
Q6. What is the minimum and maximum loan amount?
Tata Capital offers personal loans from a minimum of Rs. 75,000 to a maximum of Rs. 25 lakh depending upon the customer’s eligibility.
Q7. What are the different tenure options available on Personal Loans?
The loan tenure can range between 12 to 72 months.
Q8. Are guarantors or collateral (security) required to secure a personal loan from Tata Capital?
No, to get personal loans you do not require any guarantor or collateral as these loans are typically unsecured in nature.
Q8. What are the different payment options available with Tata Capital to repay personal loans?
Customers can pay their loan EMIs online using the company’s website or mobile application. They can also drop a cheque at the nearest branch office or set up automated payments/SI linked to a bank account of their choice to make the EMI repayment.
Q9. What is a Medical Loan?
A Medical Loan is a type of personal loan that can be used for a variety of medical treatments. The loan amount can be used to take care of any emergency medical expenses/treatments, for providing the best healthcare for yourself or your loved ones, etc.