Tata Capital Personal Loan

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. The moratorium, which was ending on May 31, 2020, has been extended till August 31, 2020.

About Tata Capital Personal Loan

Being the flagship financial services company of the Tata Group, Tata Capital with its sole aim of providing focused and transparent financial solutions is helping people to fulfill their dreams. This one-stop financial service provider is known for catering the diverse needs of the retail, corporate and institutional customers across businesses. This Non-Banking Financial Company with its wide array of services, have many products in the financial service sector, and personal loan is one of them. Yes, no matter what your personal financial needs are, this company with its best of personal loan services, fulfills the needs of all.

Be it home renovation, family wedding, foreign holiday or medical emergency, this company with its unmatched benefits of personal loans caters all the needs of you and your loved ones. So, if you are looking to buy a personal loan from Tata Capital, then here are the details of the same.

Personal Loan

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    Tata Capital Personal Loan Interest Rates

    Interest Rates10.99% - 18.00%
    Loan AmountINR 75,000 - INR 25 Lakh
    Repayment12 months-72 months
    Processing FeeINR 999 - 2.50% of the loan amount
    Pre-Closure Charges4% of the principal outstanding

    Tata Capital Personal Loan Eligibility

    To avail the personal loan in Tata Capital, you need to fit into the below eligibility criteria.

    ParametersSalariedSelf-Employed ProfessionalsBusinessmen
    Age21-58 years25-65 years25-65 years
    Job Continuity2 years3 years3 years
    Minimum IncomeINR 20,000 per monthINR 2,00,000 per yearINR 2,00,000 per year
    Minimum Loan AmountINR 75,000INR 3,00,000INR 75,000
    Maximum Loan AmountINR 15,00,000INR 20,00,000INR 15,00,000
    Tenure12-72 months12-48 months12-48 months

    Tata Capital Personal Loan EMI Calculator

    Thinking about how to compute the exact EMI value? Use the EMI calculator, it is an online device programmed to calculate the installment amount, total interest charged on the loan and the total repayment amount. It gives you the quick and error free result. To calculate the value the user has to put the loan amount, tenure and rate of interest in the calculator.

    For Example – A personal loan applicant wants to know the amount of EMI he has to pay on the loan of INR 2,00,000 availed for the period of 5 years at the interest rate of 15% p.a. He feeds the values in the calculator to know the same. So, let’s take a look at the table below to know the EMIs, interest outgo and total amount payable.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 2,00,00015%1₹ 18,052₹ 16,620₹ 2,16,620
    ₹ 2,00,00015%2₹ 9697₹ 32,736₹ 2,32,736
    ₹ 2,00,00015%3₹ 6933₹ 49,590₹ 2,49,590
    ₹ 2,00,00015%4₹ 5566₹ 67,175₹ 2,67,175
    ₹ 2,00,00015%5₹ 4758₹ 85,479₹ 2,85,479

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

    YearPrincipalInterestBalance Amount
    1₹ 29,038₹ 28,057₹ 1,70,961
    2₹ 33,706₹ 23,389₹ 1,37,254
    3₹ 39,125₹ 17,971₹ 98,129
    4₹ 45,414₹ 11,681₹ 52,715
    5₹ 52,773₹ 4381₹ 0

    Documentation Required to Apply

    Next thing on which you need to pay attention is the documentation required to get the personal loan in this company.

    SalariedSelf-Employed Professionals

    Address Proof: Ration Card/Electricity Bill/ Passport, etcIdentity Proof: Voters ID /Passport/Driving License, etcIdentity Proof: Voters ID /Passport/Driving License, etc
    Bank Statement for the last 3 monthsAddress Proof: Ration Card/Electricity Bill/RentalAgreement/Trade License/Sales Tax Certificate, etcAddress Proof: Ration Card/Electricity Bill/Trade License/Sales Tax Certificate, etc
    2 year Employment continuity documentBanks Statement for the last 6 months
    Banks Statement for the last 6 months
    Last 3 months Salary SlipProof of Highest Professional Degree
    Proof of Continuation: Trade License/Sales Tax Certificate/Establishment. Certified copy of Partnership Deed, Memorandum of Association(MOA), Article of Association(AOA) and Board Resolution
    Latest Income Tax Return(ITR) along with the computation of income, Balance sheet(B/S) and Profit& Loss(P&L) for the last 2 years certified by a CALatest Income Tax Return(ITR) along with the computation of income, Balance sheet(B/S) and Profit& Loss(P&L) for the last 2 years certified by a CA

    How to Apply Online for Tata Personal Loan

    • Online Application – You can apply for a personal loan by visiting the website and just filling up your basic details in the application form and get you eligibility for personal loan.
    • Document Submission – Post receiving your eligibility, you need to furnish the required documents to process further for your application.
    • Verification – Your personal loan application and the submitted documents will get verified by Tata Capital.
    • Approval – If your application and the documents are satisfactory then your loan application will get approved from the bank. And post approval the loan is sanctioned.
    • Disbursal – Post sanctioning of the loan, receive the required personal loan amount in your bank amount – Amazing isn’t it.

    Tata Capital Personal Loan Contact Number

    In case you have any concern, complaint, query or suggestion, all you need to do is just simply get in touch with the customer care executives of Tata Capital. Dial 1800 209 6060 either from your mobile or landline and be in touch with the executives for all your problems. These professionals with their friendly nature and expertise are always there to help you so that all your problems can easily come to an end. These executives are there 24×7 for you, hence solve all your problems in the best way.

    Features & Benefits

    • Multi-purpose loan – No matter what the occasion is, Tata Capital has the right personal loan offering . These loans can be used for funding various expenses as per the borrower’s discretion, from unexpected expenses to major life events such as wedding.
    • Affordable Interest Rates – Tata Capital offers lucrative and affordable interest rates starting from 10.99% per annum
    • No collateral – Since personal loans are unsecured loans that do not need any assets as collateral, loan approval takes lesser time
    • Minimal Paperwork – Tata Capital Personal Loan only ask for minimal documentation to process your application only with basic details like source of income or the purpose of loan.
    • Easy Repayment – Tata Capital Personal loan can be tailored as per your convenience and ability to repay. Tata Capital lets you choose the loan amount, tenure and the EMI period for which you need the loan.
    • Hassle-free loan sanction and disbursal procedure – With the personalised approach of Tata Capital, the loan approval & disbursal happens without any hassles.
    • Enjoy the convenience of doorstep service – Tata Capital offers you the doorstep service, makes it very simple and easy for you to apply.

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