A Personal Loan is an unsecured loan that can be availed without the need of pledging any collateral security. A personal loan provides some special offers and does not have any restrictions for end users so as to enable them finance their immediate expenses easily, be it medical emergencies, wedding expense or trips.
- Affordable ROI starting at 10.99%.
- Loan amount starting from 40 thousand to up to INR 35 lakhs.
- Flexible tenure up to 7 years.
- Other charges include:
- Processing Fees – Ranges from 1% to 3% of the loan amount + GST
- Minimum annualized percentage rate-11%
- Maximum annualized percentage rate- 28%
- Flexible Repayment period- 6 months to 84 months
Personal Loan Key Features
Below mentioned are the key features of Tata Capital Personal Loan:
- Multipurpose Personal Loan
- No Collateral/ Security
- Overdraft Facility
- Zero Charges on Part Pre-Payment
- No guarantor required
- Competitive Interest Rates
How to Apply for Personal Loan:
Below mentioned are the steps to get instant personal loan for financial needs:
Step 1: Enter mobile number and name verified with PAN Number.
Step 2: If pre-approved, input the personal loan requirement within the sanction limit.
Step 3: Enter the personal & banking details.
Step 4: Set up the E-mandate by completing one time mandate authorization for EMI Payment.
Step 5: Avail of insurance to secure personal liabilities against unforeseen emergency.
Step 6: Accept E-agreement by verifying personal loan details & then loan would be disbursed instantly.
Personal Loan Eligibility Criteria:
Loan eligibility depends on the income, age, job stability, credit score, and monthly income of the loan applicant. Below mentioned are the eligibility criteria for different schemes:
- Personal Loan Overdraft Facility:
- Age: 22-58 years
- Minimum Monthly Income: INR 35000
- At least 2 years of work experience
- Continuity in same job for at least 1 year
- Wedding Loan:
- Applicant must be a salaried employee
- Age: 21-58 years
- Serving the same organization for at least 6 months
- Minimum monthly income: INR 20,000
- Medical Loan:
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- Applicant must be a salaried employee
- Minimum Work Experience: 1 year
- Serving the same organization for at least 6 months
- Age: 21-58 years
- Minimum monthly income: INR 20,000
- Education Loan:
- Age: 16-26 years
- Good academic record
- Parents shall have stability in income
- Credit history of the co-applicant
- Should have a guarantor
- Travel Loan:
- Age: 22-58 years
- Salaried Individual
- Minimum work experience: 1 year
- Serving the same organization for at least 6 months
- Minimum monthly income: INR 20,000
- Home Renovation Loan:
- Minimum Age: 24 years
- Maximum Age: 65 years (At the time of maturity)
- Minimum Monthly Income: INR 20,000
- For Entrepreneurs: Minimum 3 years of experience in current field
- For Salaried Employees:
- Age: 22-58 years
- Minimum work Experience: 1 year
- Minimum Monthly Income: INR 15000
- Credit Score: Minimum 750 or above
- Repayment of debts on time
- For Govt. Employees:
- Age: 22-58 years
- Minimum Monthly income: INR 15000
- Work experience: At least 1 year
- For Doctors:
- Age: 22-58 years
- Minimum Monthly Income: INR 15000
- Minimum Work Experience: 1 year
- For Women:
- Minimum Work Experience: 1 year
- Age: 22-58 years
- Minimum Monthly Income: INR 15000
- For Pensioners:
- Minimum Monthly Pension Drawn: INR 15000
Documents Required:
- Photo ID Proof: Voter ID, Aadhar Card, Driving License, Passport
- Income Proof: Copy of Bank Statement for Last 6 months
- Salary Slip: Copy of Salary Slips for Last 3 months
- Address Proof: Passport/ Electricity Bill/ Copy of Ration Card
- Employment Certificate: Certificate of continuous employment of 1 year
Some Additional Documents in case of Education Loan:
- Admission letter issued by the school/college
- Attested copy of 10th Class Mark sheet and certificates
- Documents for studying abroad such as entry permit, admission letter, I-20 Form from the institute, the contract
- ITR of parent/guarantor
- Essential documents issued by school/college/institute including fees breakup, prospectus, etc.
- Details of the employment like resignation letter, resignation acceptance, study leave sanction letter
- Property documents in case of an immovable property offered as security
In case of Pensioners/ Self Employed Women
- Photo ID Proofs
- Income Proofs
- Address proofs
Processing Fees & Charges
| Processing Fees | Up to 2.75% of loan amount + GST |
| Penal/Additional Interest | 3% on the overdue amount monthly + GST |
| Bounce Charges | Rs 600 + GST |
| Mandate Rejection Service Charge | Rs 450 + GST |
| CCOD Annual Maintenance Charge | Rs 0.25% on dropline amount + GST of Rs 1,000 |
| Outstation Collection Charges | Rs 100 + GST |
| Accounts Statement | Rs 250 + GST |
| Loan Cancellation Charges | 2% of the loan amount or Rs 5,750 (whichever is higher) + GST |
| Instrument swap charges | Rs 550 + GST |
| Duplicate Repayment Schedule | Rs 550 + GST |
| Duplicate NOC | Rs 550 + GST |
| Post- Dated Cheque Charges | Rs 850 + GST |
| Part-payment Charges | No part-payment for the first 12 months 2.5% + GST on amount over and above 25% of outstanding principal |
| Foreclosure Charges | 4.5% of the outstanding principal at the time of foreclosure + GST For closing loan within 12 months- 6.5% + GST If foreclosed within 6 months after completing part pre-payment: 4.5% of the outstanding principal at the time of foreclosure + GST + part pre-payment amount |
| Foreclosure Charges for Top- up | 2.50% on the principal outstanding at the time of foreclosure + GST Any prepayment /foreclosure made within 12 months prepayment/foreclosure charges 4.5% + applicable taxes on the principal outstanding |
| Foreclosure Charges in CCOD cases | 4.5% on dropped down limit + GST |
| Foreclosure Charges on Term Loan Facility | 4.5% of the outstanding principal at the time of foreclosure + GST |
| Foreclosure Letter Charges | Soft Copy- NIL |
| Branch Walkin- Rs 199 + GST |
Interest Rates
Below mentioned are the Interest Rates of Tata Capital Personal Loan:
| Customer Profile | Rate of Interest (p.a.) |
| Salaried & Self Employed | 10.99% onwards |
| Personal Loan Overdraft | 13.50% |
How to check Tata Capital Personal Loan Application Status?
Below mentioned are the steps to check Tata Capital Personal Loan Application Status:
- Customers can contact the customer care by calling 1800 209 606 or write at [email protected].
- Customers can also check the loan application status by visiting official website at https://www.tatacapital.com/ by registering themselves and following below mentioned steps:
- Open the official website and login using username.
- Click on the “Track Application”.
- Choose “Loan Reference Number”.
- Enter DOB and click on “Submit”.
Advantages of Tata Capital Personal Loan:
Below mentioned are the Tata Capital Loan Application:
- Easy Documentation
- Minimal Paperwork
- Convenient Repayment Options
- Multiple Withdrawal via Online Transactions
- Fixed Limit
