Tata Capital Personal Loan: A Review

Tata Capital Personal Loan is available through a hassle-free online process at a reasonable interest rate starting at 10.99% p.a. for loan amounts of up to Rs.35 lakhs and the repayment tenure of the loan is up to 6 years.

Tata Capital offers tailored personal loan offers to fund your miscellaneous financing objectives including pre-approved instant personal loans to selected customers and instant small personal loans to salaried individuals having low or no credit history.

Tata Capital Personal Loan Overview
Minimum Loan Amount	Rs.75,000
Maximum Loan Amount	Rs.35,00,000
Loan Repayment Tenure	Up to 6 years
Interest Rate	10.99% per annum onwards
Processing Fees	Up to 2.75% of the loan amount + Applicable GST
Age Limit	22 to 58 years (Salaried or self-employed)
Work Experience	Must have at least 1 year of experience
Minimum Income	Rs.15000 per month

Key Advantages of Tata Capital Personal Loan

• Tailor-made loan for multipurpose- They offer personal loans for many events and requirements. It can be for weddings, higher studies, travel, or any other purpose. Their personalized approach is helpful for your satisfaction.
• No collateral/security- They don’t ask for any collateral or security to get a personal loan.
• Overdraft facility is available- You can withdraw additional funds up to an agreed limit. Interest is only charged on the used amount by the borrower.
• Zero charges on part prepayment- You can prepay part of the personal loan any time after 6 months of availing a personal loan without any penalty or fee.
• Offered affordable interest rate- Their personal loan interest rates are competitive and reasonable. Many factors are included in calculating your interest rate.
   

Tata Capital Personal Loan Eligibility Criteria

Applicant’s personal loan eligibility criteria depend on various factors, including a monthly income inflow, age, employment type, CIBIL score, experience, etc.

Occupation	Salaried or Self-employed professional
Age Limit	22 years to 58 years
Minimum Monthly Income	Rs.15000
Minimum Work Experience	At least one year of work experience

• Debt to income ratio- This is your EMI pay-out divided by your total monthly income. Your DTI ratio should be below 50% for the highest personal loan eligibility.
• Monthly income method- Usually, you can get a loan of up to 30 times your monthly income.
   

Documents Required for Tata Capital Personal Loan

• Photo identity proof- A copy of Voter ID card/ Passport / Driving License or Aadhaar Card
• Proof of income- A copy of Bank statements for the last six months
• Salary slips- A copy of Salary Slips for the last three months (salary account)
• Proof of address- Ration Card / Electricity Bill / Passport
• Employment Certificate- A certificate declaring one year of continuous employment
   

Steps to Apply for Tata Capital Personal Loan (online and offline)

Steps to avail of Tata Capital personal loan offline

• Visit your nearest Tata Capital branch.
• Submit the personal loan application and the required mandatory documents.
• You can get in touch with a Tata Capital representative over a phone call.
• Offline loan applications can take a few business days to process and approve.

 Steps to avail Tata Capital instant personal loan online

• To get immediate approval on the Personal Loan, apply online with all the basic necessary details.
• Apply for the personalized loan offered by your lender as per your eligibility and furnish the required documents.
• After this, experts verify the loan application and submitted KYC papers.
• Online personal loans are approved within less time from application submission.
• After approval, you will receive the amount directly in your bank account.
   

Tata Capital Personal Loan: Interest Rate, Processing Fees, and Other Charges

Interest Rate	10.99% per annum onwards
Processing Fees	Charged up to 2.75% of the loan amount + GST
Penal Interest/Additional Interest	3% on the overdue amount monthly + GST
Bounce Charges	Rs.600 + Applicable GST
Mandate Rejection Service Charge	The nominal amount of Rs.450 + GST
CCOD Annual Maintenance Charges	0.25% on Dropline Amount + GST or Rs. 1000, whichever is higher per year
Outstation Collection Charges	Rs.100 + GST per repayment tenure
Statement of Accounts	Rs.250+GST
Loan Cancellation Charges	2% of the loan amount or Rs.5,750 (whichever is higher) and the applicable GST charges.
Instrument Swap Charges	Rs.550 + Applicable GST
Duplicate Repayment Schedule	Rs.550 + Applicable GST
Duplicate NOC	Rs.550 + Applicable GST
Post-Dated Cheque Charges	Rs.850 + GST
Part Payment Charges	No part payment is allowed during the first 12 months (Lock-in period). 2.5% + taxes shall be applicable on amounts over and above 25% of the principal outstanding.
Foreclosure Charges	4.5% of the principal outstanding amount at the time of foreclosure + GST, Foreclosure fees for closing the loan within 12 months will be 6.5% + GST   If foreclosed within 6 months post completing part pre-payment- The foreclosure fee will be 4.5% of the Principal outstanding amount 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 made during the Lock-in Period of 12 months will attract foreclosure charges of 4.5% + applicable taxes on the principal outstanding
Foreclosure Charges in CCOD Cases	4.5% on the Dropped down limit amount + applicable GST Any foreclosure made during the Lock-in Period will attract an additional 2% above the prepayment charges mentioned + applicable taxes on the Dropped down limit
Foreclosure Charges on Term Loan Facility	4.5% on the outstanding amount at the time of foreclosure  + GST, In case the Borrower forecloses the loan within 6 months after doing part prepayment, foreclosure charges of 4.5% + Applicable taxes + part prepayment amount.   Any prepayment made during the Lock-in period will attract an additional 2% and above the prepayment charges already mentioned + applicable taxes.
Foreclosure Letter Charges	Soft Copy – NIL Branch Visit – Rs.199 + GST

For Example- Preeti avails a personal loan for Rs.15 Lakhs, the interest rate is 11% and the repayment period is 36 months. What are the EMIs, total interest payable, and total amount?

• Monthly EMIs of Rs.49,108.08, the total interest payable will be Rs.2,67,890.72 and the total amount repayable in 36 months will be Rs.17,67,890.72 (principal + interest).
   

Types of Tata Capital Instant Personal Loan

1. Marriage Loan

Purpose- A Wedding/Marriage loan is offered for financing wedding-related expenses to make this day special for you. A person can avail of loan amounts ranging between Rs.75000 to Rs.35 Lakhs.

• Repayment Tenure- 1 year to 6 years
• Required Age Limit- 21 years to 58 years.
• Processing Charges- Up to 2.75% of the loan amount + GST
• Minimum Income- Rs.20,000 per month
• Work stability – Individuals with at least two years of work experience can apply. You should also be working at your current company for at least six months.
   

2. Medical Loan

Purpose- Prospective applicants can avail of hassle-free medical loans for the meeting of expenses for medical emergencies, cosmetics, dental, and other medical procedures.

• Loan Amount- Rs.75,000- Rs.35 lakhs
• Loan Repayment Tenure- 1-6 years
• Processing Fees- Up to 2.75% of the loan amount + GST
• Individual’s minimum income must be Rs.20,000 per month.
   

3. Education Loan

Purpose- Tata Capital funding education expenses for loan amount Up to Rs.35 Lakhs for tenure ranging between 1 to 6 years to help the students to meet their tuition fees and living cost of the students planning to study more (India or abroad).

Also Read- Bank of Baroda Personal Loan

To avail of an education loan with Tata Capital, you will need to submit your all marksheets and certificates, admission letter, documents for studying (India or abroad, and other identity proofs.

• Individuals must be Indian nationals to apply for a Student Loan.
• Borrower’s age should be existing between 16 to 26 years.
• Good past academic record is must require.
• Either you or your parents should earn a minimum income of Rs.15,000 p.m.
• You would either have a guarantor or you can show security.
   

4. Travel Loan

Purpose- A travel loan to fund vacation covers all the expenses related to your travel such as airfares or any kind of transportation, hotel fares, tour packages, travel accessories, or any type of expenses that are related to your travel.

• Loan Amount- Rs.75,000 to Rs.35 lakhs
• Minimum Income- Rs.20,000 per month
• Mandatory Documents- identity proof, salary slips, address proof, income proof, and employment certificate.
   

5. Home Renovation Loan

Purpose- This loan facility will help in giving new looks to home borrowers with funds for making extensive interior upgrades or basic maintenance and repair needs.

• Loan tenure may vary from 1 year to 6 years.
• Processing Fees- Up to 2.75% of the loan amount + GST.
• Applicant should be in the age group of 24 to 65 years.
• If you are a salaried individual, you must earn at least Rs.20,000 per month and have at least two years of experience.
• In case you are an entrepreneur, you must have 3 years of experience in your current field.
   

Pros and Cons of Tata Capital Personal Loan

Following are the pros and cons of availing of a variety of personal loans from Tata Capital including an app review of the users.

PROS	CONS
Less number of advertisements	Users are disappointed with their services
Easy to use	Slow processing speed
Personal loan for multipurpose
Zero fees/charges on part-prepayment
An overdraft facility is available

Comparison Chart: Tata Capital Personal Loan with Other Lenders

To get the best offers and for better decision making you need to compare Tata Capital personal loan with other lenders.

Lenders Name	Loan Amount	Interest Rates	Loan Tenure
Tata Capital	Rs.75000 to Rs.35 Lakhs	10.99% p.a. onwards	Up to 6 years
Bajaj Finserv	Up to 35 Lakhs	13% p.a. onwards	Up to 7 years
Kissht	Rs.10,000 to Rs.1 Lakh	15%-25% per annum	3 to 24 months
PaySense	Rs.5000 to Rs.5 Lakhs	16% to 36% p.a.	3 to 60 months
Axis Bank	Rs.50,000 to 40 Lakhs	10.25% to 21% p.a.	1 to 5 years
Kotak Bank	Rs.50,000 to 25 Lakhs	Starts at 10.99% p.a.	1 to 5 years

Tata Capital App Ratings & Review

The rating given by the customers on the Tata Capital App is average on google playstore, More than 10 Lakh users downloaded their app. But, users are not much satisfied with their customer service.

Google Playstore Rating	4.1/5*
App Downloads	10 Lakh+
Number of Users Review	31,809
Content rating	3+
App Size	21 MB

Tata Capital Customer Care Contact Number

Here are the details of Tata’s capital personal loan. To get your concern resolved you can contact them through these modes.

• Customer Care Number- 1860 267 6060 you can contact them between 9 am to 8 pm, Monday to Saturday (Closed on Sundays And Public Holidays).
• For new loan requirements- contactus@tatacapital.com
• Registered Address (office)- 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel (Mumbai – 400013).