Tata Capital Personal Loan Interest Rates

Tata Capital personal loans can be utilised for any purpose. There is no restriction on the purpose of the loan.  The turnaround time of the personal loan is minimal, with simple documentation and eligibility criteria that is very easy to comply with. The details of Tata Capital Loan are as given below:

• The applicant should be between 22 years to 58 years.
• The minimum salary required will be Rs. 15000 p.m.
• The applicant should have a minimum work experience of one year.

Tata Capital  Personal Loan interest rates start at 11.75% p.a.

The entire loan should  be repaid within a maximum period of 6 years,

Note: Also check Tata Capital Personal Loan Application Status to meet unplanned financial needs.

The following documents have to be submitted for Tata Capital Personal Loan.

Address Proof: (copies) Ration card, Passport, Electricity bill

Photo ID Proof: (copies) Aadhar card, Voter’s ID Card, Driving Licence, Passport

Income  Proof: Last three months salary slips, Bank account statement.

Other documents:  Employer’s Certificate showing one year of work experience

Loan amount: You can avail of a loan of up to a sum of Rs. 25.00 lakhs depending on your repayment capacity.

Rate of Interest: The rate of interest starts at 11.75% p.a. and is solely dependent on your income, credit score and loan quantum.

Tenure: The borrower must repay the entire loan within a maximum period of 6 years.

Quick approval: You can apply for the loan online and get approved almost instantly.

Unsecured: The loan is provided without any collateral security, and this is the most attractive feature of the loan.

Multipurpose loan: The loan can be used for various purposes like planning a vacation, for wedding expenses, for further education of children, for repairs and renovation of your house, for medical expenses etc. It can also be used for business requirements as well.

Prepayment charges: There are no prepayment charges if the loan is availed at a floating rate of interest.

Transparency: There are no hidden charges.

Tax Benefit: If the personal loan is availed for home-related purposes like purchase of a new house or for refurbishing the existing home, then there is the exemption of tax for interest paid towards the loan up to Rs 2.00 lakhs if it is self-occupied and if it is let out on rent then, then there is no maximum limit as per Section 24(b) of the Income Tax Act 1961. You will have to furnish relevant proof for having utilised the funds for home-related purposes.

Tata Capital EMI Calculator

Using the EMI calculator, you can know the best tenure to help you arrive at the pocket-friendly EMI  for the loan amount you intend to avail of.

Also check TATA Capital Personal Loan Customer Care service.

Tata Capital Personal loans are available at an interest rate that starts at 10.99% p.a, which is the most competitive at present. The interest mainly depends on the income, loan amount and credit score. You can get the best offer on Tata Capital Personal Loan if you follow some of the tips as mentioned below:

Maintain a good credit score

A credit score is an image booster as far as loans are concerned. If you have a credit score of 750 and above, you will be the most powerful contender in the credit scenario and will be the most sought after by financial institutions. You will get the best offer since you will be categorised as a low-risk borrower who has a good credit repayment history.

Maintain a good rapport with the lender

If you are an existing customer of Tata Capital and have a good track record, you can negotiate for a good deal.

Add a co-obligant 

You can get a better deal if you have a higher income. To show an improved income, you can add a co-obligant with a steady income to the personal loan.

Improve the debt to income ratio

A good level of debt to income ratio shows your repayment capacity. To improve the debt to income ratio, you will have to clear some of the existing loans whose  EMI is sourced from the present income. A debt to income ratio of 40% to 50% is considered satisfactory, and anything above the acceptable level will fetch you the best offer.

The Tata Capital Personal Loan Charges are as mentioned below.