Tata Capital is a well-known financial service provider. This NBFC offers various kinds of financial products such as home loan, business loan, loan against property, personal loan and so on. Tata capital was founded in the year 2007 and within just 12 years of functioning, this NFBC has more than 1000 branches all over the country in the present day. Tata capital is well known for providing excellent service.
A personal loan from Tata capital is one of the bestselling personal loans of the country. One can avail numerous benefits by availing online personal loans from Tata Capital. Let’s learn what makes a Tata Capital personal loan a worth applying for.
Features and Benefits of Tata Capital Personal Loan
A Tata Capital personal loan is a multipurpose loan. The lender gives the borrower the freedom to use the amount for any personal need. A borrower is never questioned for the usage of the loan amount.
Collateral Free Loan
Tata Capital provides personal loans without any collateral or security. So a borrower will never need to hypothecate any of the assets to avail a personal loan.
Availing online loans from Tata Capital gives you the facility of taking a loan overdraft while repaying the loan. An overdraft facility makes an existing customer take a top-up on the ongoing personal loan.
Zero Charges on Pre-Payment Facility
This lender doesn’t charge a penny for prepayment or part payment of a personal loan. Most of the personal loan lenders impose a prepayment penalty in personal loans. But here you can enjoy a nil prepayment charge.
Loan Amount up to 25 Lakhs
Loan amount as big as 25 lakhs which is enough to fulfil the need for money in most of the cases. So if you want a personal loan of a large amount, you can apply it from Tata Capital.
A Tata Capital personal loan gives you instant approval on your loan application. The instant approval on your personal loan helps you to avail the loan amount without much waiting hence you can easily come over the financial emergencies.
Tata capital personal loan requires just a few basic documents to get approval. This makes the loan procedure quite simple and fast for both the lender and the borrower.
Tata Capital Personal Loan Eligibility
Here are the eligibility criteria to meet to avail a personal loan from Tata Capital
- The applicant should be between 22-58 years of age.
- The applicant should have a minimum monthly income of ₹ 15,000
- Minimum of 6 months of work experience with the present employer.
- The total work experience should have a minimum of 1 year.
Documents Required for Tata Capital Personal Loan are
- The documents required to prove identity like Voter Card, Aadhaar Card
- Proof of identity and proof of residence
- Income documents – salary slip for the last three months
How to Repay Tata Capital Personal Loan
The repayment of Tata Capital personal loan can be done in different ways. This is a unique feature of Tata Capital which gives the borrower the flexibility to repay the loan. The loan tenure of a Tata Capital personal loan ranges from 12 months to 72 months. The repayment can be done by an auto debit of the EMI from a bank account or by depositing a cheque in the favour of the bank.
Another facility is a borrower gets is the choose the type of EMI. The first kind of EMI is the Standard EMI where the exact amount of EMI has to be paid every month. The next type is the Flexi EMI plan where a borrower can pay any amount according to the convenience. The Flexi EMI is ideal when you expect to increase your income shortly.
Fees and Charges
Tata Capital offers personal loan at a competitive interest rate. The Tata Capital personal loan interest rate starts at 11.25% and can go till 19%. The processing fee starts at Rs. 1499/- + Applicable GST.
How to Apply for a Tata Capital Personal Loan
One can apply for a Tata Capital Personal loan in four different ways.
The online application can be done visiting the website of the lender or using the mobile application. The loan application forms are available on the website. One can visit the website and apply for the loan 24X7.
The next method is applying for the loan by calling the toll-free number at 1800 209 6060 from 9 am to 8 pm Monday to Saturday. One can also request a call back to apply for a loan.
The virtual assistant available on the website is the easiest and the quickest way to apply for a personal loan. You can apply for a loan 24X7 while applying it through the virtual assistant.
Visiting a Branch
Visiting a branch is the next way to apply for a loan. You can visit the nearest branch and apply for the loan by filling the application form.
The Bottom Line
A personal loan from Tata Capital is one of the best personal loan options available in the present market. So you can enjoy the best of a personal loan by applying it from Tata Capital.