Tata Capital Home Loan

Home Loan Apply5869 views

In the latest monetary policy meet held on March 24-27 2020, the RBI has decided to give a 3-month moratorium period for all outstanding loans as on March 1, 2020. Remember, this is not an EMI WAIVER. The move is in line with the economic pressures induced by the Coronavirus outbreak. So, this could mean some savings for you on your loan and help you deal with the likely situation of less or no income. Your credit score will not reduce if you don't pay the EMI. But doing so can raise your interest liability as banks would like to cover their losses, which is likely to be the case on deferred EMI payments, by increasing the interest component of the EMI after the moratorium period gets over. So, if you have the money, keep paying to reduce your interest liability.

About Tata Capital Home Loan

Tata Capital Housing Finance Limited helps you realize your dreams faster. Whether you are buying a plot for house construction, building a house, purchasing an apartment, buying a resale property or remodeling your current home, Tata Capital Home Loan covers it all. Are you someone looking for Home Loan options? Then, Tata Capital Home Loan could be the best option for you. The loan is provided to salaried individuals, self-employed and businessmen for their specific needs. Individuals can choose home loans for tenures ranging from 12 months to 360 months.

Home Loan

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    Tata Capital Home Loan Interest Rate April 2020

    ParticularsDescription
    Interest Rates9.20% - 9.35%
    Loan AmountFrom ₹2 lakhs to ₹10 crores
    Tenure20 years subject to your retirement age
    Processing Fees₹5700 (Initial Login Fee)
    Pre-payment or ForeclosurePenalty-free prepayment of upto a maximum of 25% of principal outstanding in a year.
    No foreclosure charges on floating rate loans sanctioned to individuals or on fixed rate loans being pre-closed out of borrower's own sources.

    What are the Eligibility Criteria for getting a Tata Capital Home Loan?

    To apply for a home loan, you will need to meet the following conditions.

    For salaried Individuals:

    • The applicant must be between 24 and 65 years of age (at the time of loan completion).
      The minimum monthly income must be ₹30,000.
      The applicant must have a work experience of at least 2 years.

    For Self-employed Individuals:

    • The age must be between 24 and 65 years of age (at the time of loan completion)
    • The total exprience of the applicant must be a minimum of 3 years in the existing line of business.

    How can you use the Tata Capital Home Loan Eligibility Calculator?

    You can use the Tata Capital Home Loan Eligibility Calculator to figure out the estimated loan amount you can get. All you need to do is mention a few details in the calculator. These details include –

    • Your Net Monthly Income
    • Tata Capital home loan rate of interest
    • Existing Monthly Obligations (If there are any)
    • Desired Tenure (Number of months for which you want to service the loan)

    After all that, the calculator will show you the maximum eligible loan amount and the EMI amount within a fraction of a second.

    Tata Capital Home Loan EMI Calculator

    With the help of Tata Capital Home Loan EMI Calculator, know your estimated EMI along with a break-up of principal and interest repayments. Just enter the loan amount, interest rate and tenure in the calculator and see the repayment summary. At first, you’ll see the EMI and overall interest outgo. Below this, you can see the amortization schedule showing the break-up of repayments. This schedule will only help you plan your repayment better.

    For example:  A steel manufacturer having a business turnover of ₹2 crores wants to apply for a home loan of ₹20 lakhs payable over 20 years at varying interest rates.  The home loan will be used for purchasing a ready-made flat in a posh-locality of Greater Noida. You wish to know the total equated monthly installments along with the interest amount that will be applicable to your home loan. The following table specifies the EMI, interest outgo and the total amount (EMI+Interest) payable on your home loan.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 20,00,0008.25%1₹ 1,74,208₹ 90,498₹ 20,90,498
    ₹ 20,00,0008.25%2₹ 90,683₹ 1,76,387₹ 21,76,387
    ₹ 20,00,0008.25%3₹ 62,904₹ 2,64,531₹ 22,64,531
    ₹ 20,00,0008.25%4₹ 49,061₹ 3,54,923₹ 23,54,923
    ₹ 20,00,0008.25%5₹ 40,793₹ 4,47,550₹ 24,47,550
    ₹ 20,00,0008.25%6₹ 35,311₹ 5,42,401₹ 25,42,401
    ₹ 20,00,0008.25%7₹ 31,422₹ 6,39,458₹ 26,39,458
    ₹ 20,00,0008.25%8₹ 28,528₹ 7,38,702₹ 27,38,702
    ₹ 20,00,0008.25%9₹ 26,297₹ 8,40,112₹ 28,40,112
    ₹ 20,00,0008.25%10₹ 24,531₹ 9,43,663₹ 29,43,663
    ₹ 20,00,0008.25%11₹ 23,101₹ 10,49,328₹ 30,49,328
    ₹ 20,00,0008.25%12₹ 21,924₹ 11,57,077₹ 31,57,077
    ₹ 20,00,0008.25%13₹ 20,942₹ 12,66,879₹ 32,66,879
    ₹ 20,00,0008.25%14₹ 20,111₹ 13,78,700₹ 33,78,700
    ₹ 20,00,0008.25%15₹ 19,403₹ 14,92,505₹ 34,92,505
    ₹ 20,00,0008.25%16₹ 18,793₹ 16,08,256₹ 36,08,256
    ₹ 20,00,0008.25%17₹ 18,264₹ 17,25,914₹ 37,25,914
    ₹ 20,00,0008.25%18₹ 17,803₹ 18,45,438₹ 38,45,438
    ₹ 20,00,0008.25%19₹ 17,398₹ 19,66,786₹ 39,66,786
    ₹ 20,00,0008.25%20₹ 17,041₹ 20,89,915₹ 40,89,915

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 41,023₹ 1,63,472₹ 19,58,976
    2₹ 44,539₹ 1,59,956₹ 19,14,436
    3₹ 48,356₹ 1,56,140₹ 18,66,080
    4₹ 52,499₹ 1,51,996₹ 18,13,580
    5₹ 56,998₹ 1,47,497₹ 17,56,582
    6₹ 61,882₹ 1,42,613₹ 16,94,699
    7₹ 67,185₹ 1,37,310₹ 16,27,513
    8₹ 72,943₹ 1,31,553₹ 15,54,570
    9₹ 79,193₹ 1,25,302₹ 14,75,376
    10₹ 85,980₹ 1,18,516₹ 13,89,396
    11₹ 93,347₹ 1,11,148₹ 12,96,048
    12₹ 1,01,347₹ 1,03,149₹ 11,94,701
    13₹ 1,10,031₹ 94,464₹ 10,84,669
    14₹ 1,19,460₹ 85,035₹ 9,65,209
    15₹ 1,29,697₹ 74,798₹ 8,35,512
    16₹ 1,40,811₹ 63,684₹ 6,94,700
    17₹ 1,52,877₹ 51,618₹ 5,41,822
    18₹ 1,65,978₹ 38,517₹ 3,75,844
    19₹ 1,80,201₹ 24,294₹ 1,95,643
    20₹ 1,95,759₹ 8853₹ 0

    Documents Required

    There are certain documents that you’ll need to submit while applying for a home loan. Both salaried and self-employed individuals have to submit a few documents which you can see below.

    For Salaried Individuals:

    • Age Proof – A copy of Passport/ Driving Licence/ PAN Card
    • Photo Identity Proof – A copy of Aadhar Card/ Voter ID Card/ Passport
    • Address Proof – A copy of Bank statements/ Property Taxes/ Utility Bills
    • Salary Slips for the last three months
    • Income Proof – A copy of Salary Bank Account Statement for the Last Six Months
    • Existing Loan Details (If any)
    • Processing Fee Cheque

    For Self-employed Individuals:

    • Age Proof – A copy of Passport/ Driving Licence/ PAN Card
    • Photo Identity Proof – A copy of Aadhar Card/ Voter ID Card/ Passport
    • Address Proof – A copy of Bank statements/ Property Taxes/ Utility Bills
    • Business Proof – A copy of the last two years’ Income Tax Returns (ITR)
    • Income Proof – A copy of the Current Account Statement for the Last Six Months
    • Existing Loan Details (If Any)
    • Processing Fee Cheque

    What are Some of the Exciting Features and Benefits?

    • Attractive Interest Rates at the lowest possible EMI
    • Flexi EMIs with Higher Home Loan Amount Eligibility
    • Quick processing and doorstep services
    • Minimal documentation Process
    • Flexibility to choose from a list of Approved projects of Tata Capital Home Loan
    • Higher income eligibility for Self Employed
    • Wide range of surrogates to ensure for Self Employed professional including Banking Surrogates, Gross Reciepts programme
    • Personal Discussion based loan approval

    Tata Capital Home Loan Customer Care Contact Number

    If you face any difficulty regarding home loan interest rates, tenure, loan amount or any queries relating to eligibility criteria or processing fees, you can contact Tata Capital home loan customer care representatives on 1800-209-6060 or write an email at the email address shown on the website.

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