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Key Features of Tata Capital Personal Loan

  • Loan Amount: Borrowers can avail loans ranging from ₹40,000 up to ₹35 lakh, depending on eligibility and financial requirements.
  • Interest Rates: Competitive interest rates starting at 10.99% per annum, with exact rates based on credit profile, income, and loan tenure.
  • Repayment Tenure: Flexible repayment periods ranging from 12 to 72 months (up to 6 years), with overdraft facilities extending to 7 years.
  • No Collateral Required: Tata Capital personal loans are unsecured, requiring no security or guarantor.
  • Quick Disbursal: Instant approval and disbursal within minutes for pre-approved customers, and within 24-72 hours for others upon document submission.
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    • Loan Amount Flexibility: Customizable limits from ₹40,000 to ₹35 lakhs to meet various needs from small expenses to major investments.
    • Overdraft Facility: Hybrid Term Loan or Dropline Overdraft allows withdrawals as needed, paying interest only on utilized amounts.
    • Multipurpose Usage: Can be used for weddings, travel, medical emergencies, home renovations, education, or debt consolidation.
    • Quick Digital Process: Entire application process is online through website or mobile apps with instant approval for eligible applicants.
    • Minimal Documentation: Basic documents required including identity proof, address proof, and income proof with digital submission.
    • Prepayment Options: Part-prepayments allowed after 6 EMIs with no charges for up to 25% of outstanding principal.
    • Pre-Approved Loans: Existing customers may receive pre-approved offers with instant disbursal and minimal formalities.
    • Balance Transfer Facility: Option to transfer existing personal loans from other lenders to potentially lower interest rates.
    • Transparent Terms: Clear disclosure of all fees and charges upfront with no hidden costs.
    • Customer Support: 24/7 assistance through virtual assistant, customer care, or WhatsApp for any queries.
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Benefits of Personal Loans from Tata Capital

  • Versatile Usage: Can be used for any purpose including weddings, travel, medical emergencies, home renovations, education, or debt consolidation with no restrictions.
  • Collateral-Free Borrowing: Unsecured loans requiring no pledge of assets like property or investments, making them accessible to more borrowers.
  • Competitive Interest Rates: Rates starting at 10.99% per annum, especially favorable for applicants with strong credit profiles (CIBIL score above 750).
    • Flexible Loan Amounts: Wide range from ₹40,000 to ₹35 lakhs to cater to both small and large financial needs.
    • Extended Repayment Options: Tenures from 12 to 72 months (up to 6 years) with overdraft facilities extending to 7 years for better EMI management.
    • Quick Digital Process: Entire application is online through website or mobile apps with approval in minutes and disbursal within 24-72 hours.
    • Minimal Documentation: Basic documents like identity proof, address proof, and income proof with digital submission for convenience.
    • Overdraft Facility: Dropline Overdraft allows withdrawals as needed within sanctioned limit, paying interest only on utilized amounts.
    • Prepayment Flexibility: Part-prepayments allowed after 6 EMIs with no charges for up to 25% of outstanding principal.
    • Pre-Approved Offers: Existing customers may qualify for instant loans with minimal formalities through pre-approved offers.
    • Balance Transfer Option: Transfer existing personal loans from other lenders to potentially lower interest rates and reduce EMI burden.
    • Transparent Terms: Clear disclosure of all fees and charges including processing fees up to 2.75% of loan amount with no hidden costs.
    • Customer Support: 24/7 assistance available through virtual assistant, WhatsApp, or customer care (1860 267 6060).
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How to Apply for Tata Capital Personal Loans

  • 1. Check Eligibility:
    • Ensure you meet criteria: Age 21-58 years, minimum income ₹15,000/month (₹18,000 in metros), 1+ year work experience, CIBIL score 650+.
    • Use online eligibility checker on Tata Capital website or Moneyfy app.
  • 2. Choose Application Method:
    • Online: Via Tata Capital website (www.tatacapital.com) or Loan & Wealth App/Moneyfy App.
    • WhatsApp: Use Tata Capital's WhatsApp service for guided application.
    • Partners: Apply through platforms like Paisabazaar or Paytm.
  • 3. Fill Application Form:
    • Provide personal details, employment information, loan amount (₹40,000-₹35 lakh), and preferred tenure (12-72 months).
    • Existing customers may have pre-filled information.
  • 4. Submit Documents:
    • Upload digitally: Identity proof (Aadhaar/PAN), address proof, income proof (salary slips/bank statements), employment proof.
    • Pre-approved customers may need minimal documentation.
  • 5. Receive Loan Offer:
    • Get approved amount, interest rate (from 10.99%), tenure options, and EMI details.
    • Customize using EMI calculator if needed.

Eligibility Criteria for Tata Capital Personal Loans

  • Age: 21 to 58 years at loan maturity.
  • Income: Minimum ₹15,000/month net income for salaried (₹18,000 in metros); ₹2-3 lakh annual income for self-employed.
  • Employment:
    • Salaried: 1+ year total experience, 6+ months with current employer.
    • Self-employed: 2-3 years in current business/profession.
  • Credit Score: Preferably 650+ (750+ for best rates). New-to-credit may qualify for small loans.
  • Residency: Must be resident Indian with valid address proof.
  • Documents:
    • Identity proof (Aadhaar/PAN)
    • Address proof
    • Income proof (salary slips/bank statements/ITR)
    • Employment proof
  • Special Categories:
    • Women: Special schemes for working women/homemakers.
    • Government employees: Relaxed criteria.
    • Existing customers: Pre-approved offers available.
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Documents Required for Tata Capital Personal Loans

  • Identity Proof: Aadhaar card, PAN card, passport, voter ID, or driving license.
  • Address Proof: Aadhaar card, utility bill, passport, or rental agreement.
  • Income Proof:
    • Salaried: Last 2-3 months' salary slips, 3-6 months' bank statements, Form 16.
    • Self-employed: ITR for last 2 years, profit & loss statement, business proof.
  • Employment Proof: Employment certificate or business continuity proof.
  • Photograph: Recent passport-size photo (if required).
  • Additional for Specific Cases:
    • Pre-approved loans: Minimal documents needed.
    • Balance transfer: Existing loan statement and foreclosure letter.

Factors Affecting Tata Capital Personal Loans

  • Credit Score: CIBIL 650+ required; 750+ gets better rates. New-to-credit may qualify for small loans.
  • Income Level: Minimum ₹15,000/month (₹18,000 in metros). Higher income allows larger loans.
  • Employment Stability: 1+ year experience for salaried; 2-3 years for self-employed.
  • Debt-to-Income Ratio: Should be below 50-60% for approval.
  • Loan Amount/Tenure: ₹40,000-₹35 lakh for 12-72 months. Larger amounts require stronger profiles.
  • Documentation: Complete, clear documents speed up processing.
  • Existing Relationship: Customers with prior Tata Capital products may get pre-approved offers.

Frequently Asked Questions (FAQs)

What is a Tata Capital Personal Loan?
A Tata Capital Personal Loan is an unsecured loan that can be used for any purpose, such as weddings, travel, medical emergencies, home renovations, or debt consolidation. It requires no collateral and offers loan amounts from ₹40,000 to ₹35 lakhs with tenures of 12 to 72 months.
What are the eligibility criteria?
To qualify, you must:
  • Be aged 21-58 years
  • Have minimum monthly income of ₹15,000 (₹18,000 in metros)
  • Have 1+ year work experience (salaried) or 2-3 years in business (self-employed)
  • Preferably have CIBIL score of 650+
  • Be a resident Indian
What documents are required?
  • Identity Proof: Aadhaar, PAN, passport, etc.
  • Address Proof: Utility bill, rental agreement, etc.
  • Income Proof: Salary slips, bank statements, ITR
  • Employment Proof: Employment certificate or business proof
What is the interest rate?
Interest rates start at 10.99% per annum. The exact rate depends on your credit score, income, loan amount, and tenure. A CIBIL score above 750 typically secures lower rates.
How much loan can I get?
You can avail a loan from ₹40,000 to ₹35 lakhs, based on your income, credit score, and repayment capacity. Smaller loans (₹40,000-₹1.5 lakhs) are available for new-to-credit applicants.
What is the loan tenure?
Tenures range from 12 to 72 months (up to 6 years). The overdraft facility (Dropline Overdraft) may extend to 7 years.
How can I apply?
You can apply:
  • Online via Tata Capital website or mobile apps
  • Through WhatsApp service
  • Via partner platforms like Paisabazaar
The online process involves filling a form, uploading documents, and signing digitally.
How long does approval take?
Approval is instant for pre-approved offers; otherwise within minutes to 2 hours. Disbursal happens within 24-72 hours (as fast as 2 minutes for small loans).
Is collateral required?
No, Tata Capital Personal Loans are unsecured, meaning no collateral or guarantor is required.
What is the Dropline Overdraft facility?
It's a flexible loan option where you get a sanctioned limit (up to ₹35 lakhs) and can withdraw funds as needed. Interest is charged only on the withdrawn amount. You can repay and withdraw multiple times within the tenure (up to 7 years).
Can I prepay the loan?
Yes, part-prepayment is allowed after 6 EMIs (once every 6 months). Up to 25% of outstanding principal can be prepaid without charges. Full foreclosure may incur charges up to 4.5% + GST.

List of Tata Capital Personal Loans

  • Tata Capital Instant Personal Loan
  • Tata Capital Small Personal Loan
  • Tata Capital Pre-Approved Personal Loan
  • Tata Capital Personal Loan Overdraft Facility
  • Tata Capital Marriage Loan
  • Tata Capital Medical Loan
  • Tata Capital Home Renovation Loan
  • Tata Capital Personal Loan Balance Transfer