Can Tata Capital Personal Loan Resolve My Financial Problems?

Yes, Tata Capital Personal Loan is the answer to all your financial problems. With this loan, you can pay for medical emergencies, children's college fund, home renovation, daughter's wedding, etc. You can borrow a maximum of INR 25 lakh from Tata Capital online in respect of personal loan. And the advantage is that you don’t have to submit any kind of asset for the Tata Capital Personal Loan security; it is an unsecured type of loan. If you want to know more about this loan, read this article below.

Who is Eligible to Borrow Tata Capital Personal Loan?

This flexible loan can be borrowed by the following:-

• Salaried - For salaried individuals the Tata Capital Personal Loan will depend on their job stability, income, work experience, age and CIBIL score.

• Student - Students who are pursuing higher education in India or Abroad can borrow Tata Capital Personal Loan. In this case the loan will be based on the age, past academic performance, and parents income and credit score.

• Retired - The retired individual who is receiving a pension from the central, state, or any government recognised body, the individual can apply for Tata Capital Personal Loan.

Highlights of Tata Capital Personal Loan

The following features and benefits of Tata Capital Personal Loan makes it customer first choice -

• Wide range of loan amounts from INR 75,000 to INR 25 lakh. The loan amount will be based on the applicant monthly income and credit score, provided the minimum monthly income should be INR 15,000.

• Attractive interest rate starting from 10.99% per annum. With this affordable Tata Capital Personal Loan rate of interest, you can save on your EMI and interest payout. The factors affecting your loan interest rate are income, age, CIBIL score, current obligations, and credit utilization ratio if you use a credit card.

• Flexibility of Tata Capital Personal Loan repayment, you can repay your borrowed loan in Equated Monthly Installments (EMI) from 12 to 72 months. You can either pay a fixed amount of EMI and interest or can pay lower EMIs in the initial months and higher EMIs at the later months as per your raise in income.

Tata Capital Personal Loan Fees and Other Charges

While applying for Tata Capital Personal Loan it is important to know about all the fees and charges, and for your information Tata Capital doesn’t charge any hidden charges for the personal loan. To know about the personal loan fee and charges check out the pointers below:-

• A one-time processing fee up to 2.75% of the loan amount plus GST

• 3% of penalty charge on each due EMI plus the applicable GST

• Pay INR 600+GST in case of cheque bounce or payment instrument dishonour

• If you want to cancel your Tata Capital Personal Loan, you need to pay a cancellation fee, which is 2% of the loan amount or INR 5,750 whichever is higher plus the applicable GST.

• Part payment fee of 2.5% of the payable principal outstanding plus the applicable GST

• Foreclosure fee of 4.5% of the principal outstanding balance plus the applicable GST

Note - You can’t do part payment or foreclosure of Tata Capital Personal Loan during the first 6 months, as it is the lock-in period.

How to Apply for Tata Capital Personal Loan?

You can borrow a loan from Tata Capital by following the steps below:-

Step 1: Visit Tata Capital website select ‘Personal Loan’ click the ‘Apply Now’ button and fill in your name, address and mobile number as it is on your PAN card and verify your details.

Step 2: Enter your loan requirements such as loan amount

Step 3: Provide your personal and bank details

Step 4: Set-up your E-mandate online, which is a one time netbanking transaction authorization

Step 5 (Optional): You can get an insurance cover to safeguard your family against the personal loan liabilities in case something happens to you during the course of repayment.

Step 6: Accept an E-agreement from Tata Capital and get instant disbursement of the loan amount.