Tata Capital Car Loan

About Tata Capital Car Loan

Missed out on the opportunity to avail loan from premier banks to buy your dream car? Don’t worry as NBFCs like Tata Capital are ready to take you to a ride with attractive car loan offering. By providing finance upto 100% of the car’s ex-showroom price, Tata Capital, a Tata Group company, has carved a niche among the car buyers in India.

Tata Capital, founded in 2007, is envisaged to provide customized financial solutions to help people fulfill their dream with over 100 branches. The leading NBFC offers car loan for the purchase of SUVs, MUVs, hatchbacks, sedans, etc. The market size of car loan is over Rs 80,000 crores.

Tata Capital Car Loan Interest Rates and Other Charges

BasisDetails
Minimum Loan Rs 1 lac
Maximum Loan 100% of the ex-showroom price of the car
Maximum Repayment Period5 years
Interest RateApplicable as per the company norms
Processing Fee0.5% of the loan amount
Other Charges  As applicable by the bank

Special Feature

Flexi EMIs– Tata Capital’s special offering allows you to customize your repayment of the loan as per your requirements. There are four types of Flexi EMI schemes-

  • Step Up Flexi EMI Plan– With this plan, you can raise your EMI gradually each year and repay your car loan in a easy and simple way.
  • Step Down Flexi EMI Plan– As per the plan, the EMI reduces each year and the loan is repaid faster.
  • Bullet Flexi EMI Plan-Allows you to prepay the loan in parts on a periodical basis and help lower down the EMI significantly.
  • Balloon Flexi EMI Plan-With this, you can pay lower monthly installments with the option of paying a substantially higher amount in the last EMI.

Eligibility Criteria

ParametersSalaried ProfessionalSelf-employed
Age21-58 years21-65 years
Minimum Income Minimum annual income of Rs 2,50,000Business income of atleast Rs 2 lacs per annum
Employment/Business Continuity Not specifiedNot specified

Eligibility Factors

Do you know what Tata Capital looks to assess your eligibility for car loan? If No, then you can read out the factors mentioned below to know the same.
• Monthly Income
• Savings
• Age
• Car Value
• Car Model Type
• Credit History
• Employment Status for Salaried
• Longevity in the business for self-employed
• Category of your employer
• Accommodation

How is loan amount eligibility calculated?

Suppose you earn a monthly salary/income of Rs 25,000. After making the usual expenses, you come up with a saving of Rs 10,000, accounting for 40% of the monthly income. The loan amount eligibility will be decided by Tata Capital after it calculates your per lakh EMI. Please look below to get a clue of the calculation process.

Amount-Rs 1 lakh
Loan Tenure-7 years
Rate of Interest-12.50%-12.75 per annum
Monthly EMI-Rs 1,792-1,806

Loan amount eligibility will be Rs 1 lakh x 10,000/1,792= Rs 5.58 lakhs
Rs 1 lakh x 10,000/1,806= Rs 5.54 lakhs

So, the overall loan amount eligibility will be Rs 5.54 lacs-5.58 lacs

With this loan amount eligibility, you are eligible to buy best cars like Tata Tiago, Hyundai Grandi10, Maruti Celerio AMT, Maruti Swift Dzire.

Tata Capital Car Loan EMI Calculator

EMI, which stands for Equated Monthly Installment, is the portion of principal and interest amount payable on your car loan. The calculation of EMI is very simple. You just need to use the formula mentioned below to calculate the EMI.

P x R X (1 + R) ^ N] / [ (1 + R) ^N – 1
P= Principal Amount
R= Rate of Interest
N=Loan Tenure 

Documentation

ProofsSalaried ProfessionalSelf-employed
Age ProofPassport/PAN Card/ Voter ID card, Photo Driving License with birth date/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate Passport/PAN Card/ Voter ID card, Photo Driving License with birth date/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate
Identity Proof PAN Card/ Voter ID/Passport/Driving License, photograph PAN Card/ Voter ID/Passport/Driving License, photograph
Income Proof Form 16 for last 2 years, Salary slip for last 3 months, proof of employment in the same organisation for two years, salary certificate, bank statement showing salary credit into the accountIT returns for the last 2 years along with income computation, bank statement for the last 3-6 months
Address Proof Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID
Sign Verification Proof Driving License/Passport copy/PAN CardDriving License/Passport copy/PAN Card

How to access car loan application form of Tata Capital?

You can apply for car loan of Tata Capital by visiting the website or going to the branch of the lender. You are required to fill in the details, asked in the application form, and then submit it for the processing of the loan. The loan will get disbursed to you within 2-3 days of submitting the application.

Tata Capital Car Loan Application Status

You can use either one or all the three modes to check the status of your car loan application at Tata Capital. The modes are online, branch and customer care centre. If you want to view the status online, then you have to use your login ID and password provided by the lender subsequent to the approval for the loan. You can also check the status from the branch and customer care centre. Toll-free number of Tata Capital customer care number is 1800 209 6060.

Branch Locator of Tata Capital

New Delhi

Branch Address Phone number
Delhi RO7th Floor, Videocon Tower, Block E-1, Jhandewalan Extension, New Delhi - 110055 011 66786206/ 66786223
Kalkaji Shop No 2, L-13, Kalkaji, New Delhi - 110019 085108 93415
Malviya Nagar Upper Ground Floor, C-3, Shop No. 2, Malviya Nagar, New Delhi - 110017 N.A.
Pitampura  Ground Floor, Shop No. 22, PP Towers, Netaji Subhash Place, Pitampura, New Delhi - 110034 011 6464 1891
Preet Vihar Upper Ground Floor, 16, Shankar Vihar, Main Vikas Marg, New Delhi - 110092 N.A.
Punjabi Bagh Building No-11, Prem Sadan Building, 2nd Floor Rajinder Place Delhi-110008 N.A.

Kolkata

Branch Address Phone number
Hindustan Road 2/5/1, Gariahat, Hindustan Road, Dover Terrace, Ballygunge, Kolkata-700029 033 6454 2139
Loudon Street 7/1A, Loudon Street, Kolkata-70001 033-64542120, 64542112
 Park Street 2C, 2nd Floor, Park Plaza, 71 Park Street, Kolkata-700016 N.A.

Mumbai

Branch Address Phone number
Lower Parel Tower A, 1101 Peninsula Busines Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400013 022 6606 9000
Andheri West  2nd Floor, Pratiek Plaza, Opp. Patel Auto, S.V. Road, Goregaon (West), Mumbai - 400062 .N.A
Chembur Shop N0 1-4, Shri chembur Ganesh CHS sion trombay road,next to Wasan Motors Ltd,Chembur,Mumbai-400071 092201 33009
Mumbai Fort Ground Floor, Ready Money Mansion, Veer Nariman Road, Fort, Mumbai - 400001 N.A.
 Malad 902-906, Quantum Tower, Chinchaoli, Off S. V. Road, Malad West, Mumbai - 400064N.A.
Santacruz West Shop No. 2, Golden Bunglow, Opp Santacruz Police Station, Juhu Road, Santacruz (W), Mumbai - 400054N.A.

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EMI Calculator