Tata Capital Business Loan Interest Rates
Last Updated : Feb. 6, 2023, 5:29 p.m.
Business Loan is the key to business expansion. Every business needs funds for expanding its resources. As many businessmen trust Tata Capital so they prefer taking Tata Capital Business Loan. But the only matter of concern is the rate of interest charged on the business loan. Therefore you can see all the details of Tata Capital Business Loan Interest Rates.
Interest Rates and Fee of Tata Capital Business Loan
| Particulars | Details |
|---|---|
| Rate of Interest | 19-21% (Reducing) |
| Processing Fee | Upto 2.75% of the loan amount + Taxes |
Miscellaneous Charges
| Particulars | Details |
|---|---|
| Bounces Charges | ₹2000 + GST |
| Rejection Service Charges | ₹450 + GST |
| CCOD Annual Maintenance Charges | 0.25% on the dropline amount or ₹ 1000 per year whichever is higher |
| Document Processing Charges | ₹ 999 + GST |
| Outstation Collection Charges | ₹100 + GST per repayment instrument |
| Account Statement |
Soft Copy - NIL
From Branch - ₹ 250 + GST |
| For Closure Charges |
4.5% on remaining principal amount + GST
(No Foreclosure in the First 9 Months) |
| Foreclosure Charges for Top Up | 2.25% on remaining loan + GST |
| Foreclosure Charges in CCOD Cases | 4.5% dropped down on limit amount + GST |
| Loan cancellation Charges | 2% of the loan amount or ₹ 5750 whichever is higher + GST |
| Instrument Swapping Charges | ₹550 + GST |
| Duplicate Repayment Schedule |
Soft Copy - NIL
From Branch - ₹550 + GST |
| Duplicate NOC (No Objection Certificate) | ₹550 + GST |
| Foreclosure Letter Charges |
Soft Copy - NIL
From Branch - ₹ 199 + GST |
| Post Dated Cheque Charges | ₹850 + GST |
Some Major Factors that Determine the Low Interest Rates
CIBIL Score:- This plays an important role in deciding the eligibility as well as the interest rate offered on your business loan. A credit score tells your lender what kind of borrower you are. If your CIBIL Score is 750 or above it is to be considered a good score by lenders therefore lender offers you the business loan at least interest rates.
Business Experience:- Your business experience matters a lot therefore good experience always shows positive impacts on lenders. If your business is very old and stable then the lender will provide you a less rate of interest on the loan.
Loan Amount:- You can take up to ₹75 lakh and more depending on your credit score. Basically, the interest rates determine the loan amount to be taken by the borrower. If the borrower loan amount is high then get a chance of lower interest rate. So high loan amount reduces the interest rate resulting in a low EMIs amount.
Revenue and Profit:- The lender is the one who always checks the monthly revenue of your business. The healthy revenue increases your capacity of taking the loan and due to which the rate of interest is decided. If your business revenue is high then the interest rates charged might be less.
How Does the Rate of Interest Affect EMI Amount
The only reason for enquiring about the Tata Capital Business Loan Interest Rate is that the borrower wants to calculate the EMI payable every month. So you can see how the rate of interest fluctuates the amount of EMI from the table given below. You can also calculate the EMI with the help of the Business Loan EMI Calculator .
| Principal Amount | Rate of Interest | Tenure | EMI |
|---|---|---|---|
| ₹5,00,000 | 21% | 36 Months | ₹18837.53 |
| ₹5,00,000 | 20% | 36 Months | ₹18581.79 |
| ₹8,00,000 | 19% | 36 Months | ₹29324.82 |
| ₹8,00,000 | 20% | 36 Months | ₹29730.87 |
Well, it is clear from the table mentioned that the fluctuations in the rate of interest fluctuate the amount of EMI. Therefore, it is necessary to know the Business Loan Interest Rates before applying for a business loan.