Tata Capital Home Loan

Whether you are a salaried or self-employed individual, Tata Capital offers you the minimum loan amount of Rs. 1 lac to maximum of Rs. 10 crores within 4-5 days of loan approval and 7-8 days for self employed. Tata capital charges interest rate of 8.35% to 12.50% per annum, if you're looking to purchase a home, construct your own house or even extension of your existing home. Tata capital offers you tenure of 1 year to 30 years. Tata Capital doesn't take any pre payment charges on floating rate loans and even provides concession to female applicants. Tata Capital charges you 0.5% as processing fee charge.

Tata Capital is a good fit for you if?

If You're Looking for Higher Loan Amount – Tata Capital is a good choice if you're looking for a higher loan amount. It provides you a high loan amount minimum of Rs 1 lac to maximum of Rs. 10 Crores within 4-5 working days after your loan is approved. If you compare this with Union Bank it offers you only 2 crores of loan amount while if you see DHFL bank it offers you upto 5 crores.

Tata Capital Home Loan at a glance

Annual Interest Rate

8.35% - 12.50%

Loan Term

1 Year - 30 Years

Loan Amount

Rs. 1 Lac - Rs. 10 Crores

Time of Funding

Within 4 to 5 days of Approval

7 to 8 days for Self-Employed

Pre-Payment Charges

Zero to 2% of the outstanding amount

Tata Capital provides you the loan on amount from Rs 1 lac to Rs. 10 Crores within 4-5 working days after your loan is approved. It takes 7-8 working days for self employed people. Tata capital tenure to repay your loan amount ranges from 1 year to 10 years on a annual interest rate ranging from 8.35% to 12.50%. The Pre-Payment charges for Tata Capital are zero to 2% on the balance amount left as compared to ICICI bank the pre payment charges are 5%. On the balance amount left.

Why Choose Tata Capital?

Concession to Female Applicants – Tata Capital offers one of the biggest benefits for women borrowers is that they need to pay lower interest rates as compared to men. As of now, female applicants get a concession of 0.05 bps in interest rate where she is applying as an individual or a co-applicant.

Zero Prepayment Charges on Floating Rate Loans – Tata Capital has no prepayment charges applicable on home loans availed at floating rate of interest.You can make prepayment equivalent to the balance principal outstanding to close the loan earlier than the scheduled tenure without any prepayment charges.

What to watch out for?

Minimum Home Loan of Rs. 2 Lacs – Tata Capital offers you the minimum loan amount of Rs 2 lacs. You cannot avail home loan less than Rs. 2 Lacs. and the maximum it offers you is 10 crores.

Compare Tata Capital Home Loans to Other Banks

Bank Name Tata Capital DHFL Kotak Mahindra Bank

Typical APR

8.35% - 12.50%

8.50% - 9.40%

8.70%

Loan Term

1 Year - 30 Years

1 Year - 30 Years

5 Years - 20 Years

Maximum Lending Amount

Rs. 10 Crores

Rs. 5 Crores

Rs. 20 Crores

Processing Fee

0.50% of the loan amount

Rs. 5,000 to Rs. 20,000

Upto 1.25% of Loan amount

Time to Funding

Within 4 to 5 days of Approval

Within 3 to 15 days from Approval

Within 5 working days

Pre-Closure

Zero to 2% of the outstanding amount

Zero to 3%

Zero to 4% of the balance amount

If we compare Tata Capital with other banks then, Tata Capital charges the lowest typical APR rate of 8.35% to 12.50% per annum while DHFL bank charges 8.50% to 9.40% per annum and Kotak Mahindra bank charges 8.70% per annum of the typical APR rate. Tata Capital and DHFL bank offers tenure to repay your loan amount within 1 years to 30 years while Kotak Mahindra bank offers tenure to repay the loan amount from 5 years to 20 years. From Tata Capital bank you can avail the loan amount of upto Rs. 10 crores while in case of DHFL bank you can avail the loan amount maximum of upto Rs 5 crores which is quite low from Tata Capital. But if we talk about Kotak Mahindra bank you can avail as high as Rs 20 crores of loan amount is higher than the loan amount offered by the Tata Capital.

The processing fee charged by Tata Capital is 0.5% on the loan amount, in case of DHFL bank the processing fee charged is minimum to Rs 5000 to maximum of Rs 20000 while Kotak Mahindra bank charges upto 1.25% of the loan amount. The best part is that in Tata Capital you need to pay only 2% of the pre closure charges as compared to DHFL and Kotak Mahindra bank. Dhfl charges you ero to 3% as pre closure charges while Kotak Mahindra Bank charges you zero to 4% as pre closure charges.

Am I Eligible?

  • The minimum age of the applicant at the time of loan application should be more than 24 years.
  • The maximum age of the applicant should not be more than 65 years at the time of loan maturity or maximum upto Superannuation in case of salaried individuals.
  • Applicant can be a salaried individuals working in reputable companies, a self-employed professionals and self-employed non-professionals or businessmen
  • Applicant should have a minimum income of Rs. 30,000 per month.
  • Salaried applicant should have a minimum 6 months experience in the current job with total experience of minimum 2 years.
  • Self-Employed applicant should have a minimum 3 years experience in the current profession.
  • Co-applicant can be earning spouse/parents/children/ siblings.

Loan Offerings

Tata Capital Home Loan

  • Tata capital gives you home loan for purchasing a plot of land or property and construct a house on it. If you want to purchase an already constructed house or apartment, Renovate your home into your dream house, Conduct Home Repairs in your house and wants to add new built-up area to an existing house Tata Capital provides you loan for that. Tata Capital provides you home loan from minimum of Rs. 2 Lacs to upto Rs. 3 Crores, and maximum of Rs. 10 Lacs in some special cases with subject to maximum 80% on the market value of property. Tata Capital offers you tenure tenure from 1 year to maximum 30 years for salaried. And for the self-employed people tenure ranges 1 year to 20 years .
  • Tata Capital charges you the interest rate ranging from 8.70% per annum for a loan amount to upto Rs 30 Lacs and 8.85% per annum for home loans above Rs. 30 Lacs for Salaried applicants. And, 8.65% per annum for a loan amount to upto Rs 30 Lacs and 8.80% per annum for home loans above Rs. 30 Lacs for Salaried female applicants. For Self-Employed applicants Tata Capital charges the interest rate ranging from 8.85% per annum for a loan amount to upto Rs 30 Lacs and 9.15% per annum for home loans above Rs. 30 Lacs. And, for Self-Employed female applicants,Interest rate ranging from 8.80% per annum for a loan amount to upto Rs 30 Lacs and 9.10% per annum for home loans above Rs. 30 Lacs is charged.
  • Documents required for Salaried:
    • Loan Application with KYC Details and Photographs
    • Last 6 months' Salary Account statement
    • Last 3 months' salary slip and appointment letter/yearly increment letter and certified true copy of Form 16.
    • Processing Fee Cheque
  • Documents required for Self-Employed:
    • Loan Application with KYC Details and Photographs
    • Business Existence Document
    • P/L Statement for 3 years
    • Balance Sheet for 3 years
    • Last 2 years of IT returns with supportive documents, Business profile on letterhead, Registration certificate for business commencement.
    • Education Proof
    • Operative current account statement for 6 months, also, if any, CC/OD facilities taken corresponding bank statements for 6 months to be submitted.
    • Processing Fee Cheque

Tata Capital Home Loan Balance Transfer and Top Up

  • With Tata Capital's balance transfer facility you can transfer your home loan to Tata Capital and you can avail additional funds of upto 25% of the original loan amount on loan transfer. Tata Capital home loan offers you tenure ranging from 1 year to 30 years.

Tata Capital Home Renovation Loans

  • Home loans can be availed for various purposes related to any housing needs. Tata Capital Home Renovation Loans provides you loan for House Maintenance, Remodelling, Painting, New Flooring, Internal repairs, or External repairs. Tata Capital offers you loan amount of minimum Rs. 1 lac. Tata Capital charges you interest rate starting from 8.50% per annum. Tata Capital charges you the processing fee of upto 2% on the total loan amount. Tata Capital home loan offers you tenure ranging from 1 year to 30 years.

Tata Capital Home Extension Loans

  • The purpose of Tata Capital Home Extension loan is to cover the expenses related to the construction of new feature in your existing home. Tata Capital Home Extension Loans provides you loan to build a new floor, build a new room or study, to build a Terrace Garden, Landscaping of the Garden or to build a Garage for your car. Tata Capital offers you loan amount of minimum Rs. 1 lac. Tata Capital charges you interest rate starting from 8.35% per annum. Tata Capital charges you the processing fee of upto 2% on the total loan amount. Tata Capital home loan offers you tenure ranging from 1 year to 30 years.

Tata Capital Home Loans for NRI

  • Tata Capital's NRI home loans will help you buy your home in India, without any hassles.Tata Capital home loans for NRIs provides you the loan amount ranging from Rs. 10 Lacs to upto Rs. 10 Crores. Tata Capital home loans for NRIs offers you tenure from upto 1 years to 10 years.
  • Documents required for Salaried NRIs:
    • Documents required for Salaried:
    • Last 6 months' Bank statement
    • Pay slips of last 6 months along with employment stability documents such as appointment letter/previous employment history.
    • Overseas salary account for 6 months and Indian NRE/ NRO account statements for 6 months to be provided.
    • Credit Report of the current country of residence where ever it is applicable as per Tata Capital norms.
    • Processing Fee Cheque

Tata Capital XL Home Loans

  • Tata Capital XL Home Loans, a special Home Loan scheme that provides borrowers with a higher eligibility and thereby, a Bigger Loan. Tata Capital XL Home Loans provides you lower EMIs for the starting 36 months. Tata capital offers you tenure to repay the loan amount from 10 years to upto 30 years. Under the Tata capital XL Home Loan scheme you can avail funds ranging from Rs. 5 Lacs to upto Rs. 3 Crores.

Tata Capital Home Loan Rate of Interest

Home Loan Type Applicable Interest Rate

Tata Capital Home Loan

8.65% - 9.15% per annum

Tata Capital Home Renovation Loan

8.50% per annum

Tata Capital Home Extension Loans

8.35% per annum

Tata Capital Home Loan Balance Transfer and Top Up

9.65% - 12.15% per annum

Tata Capital Home Loans for NRIs

8.65% - 9.15% per annum

Tata Capital XL Home Loans

8.50% - 12.50% per annum

How to Apply for Tata Capital Home Loan?

At Paisa

    • Check the loan offer which is best for you and click on apply now
    • Fill the required details (purpose,annual salary,EMIs you can pay)
    • Choose the loan you want to take .
    • Submit the details

At Tata Capital

    • Click here to apply at Tata Capital.
    • Fill up the necessary details
    • Attach your required documents online
    • Submit up all documents

After I Apply?

Check Home Loan Status

  • Through Status Tracking Page
    • Click here to go to the status tracking page.
    • Fill up your mobile number or loan application number and D.O.B
    • Submit the details
  • Through customer care
    • Firstly , you will have to call on 1800-209-6060 (Toll free) and wait for the IVR options.
    • If you want to proceed the call in english you need to dial 1 , if you need to proceed in hindi press2.
    • After this they will ask you if you are a existing customer dial 1, if you need information on their product dial 2.
    • When you will dial 2 your call will be transferred to the customer care executive.

Fees & Penalties

Type of Charge Applicable Charges

Processing Charges

0.50% of the loan amount

Foreclosure Charges

2% of the outstanding amount

If foreclosure was made from Someone's funds other than the applicant. Otherwise, NIL


NIL

For floating rate loans and Balance Transfer using own funds

Part-Payment Charges

Allowed once in a year

2% of the prepaid amount

On Fixed Rate, if prepaid amount is more than 25% of the outstanding amount. Otherwise, NIL


NIL

For floating rate loans using own funds.

Penal Charges

2% on the overdue amount

The processing fee charges by the Tata Capital is 0.50% of the total loan amount while if you see Kotak Mahindra bank charges 1.25% which is quite high in comparison to Tata Capital. Tata Capital foreclosure charges are 2% of the outstanding amount if foreclosure was made from someone's funds. Other wise there are nil charges. For floating rate loans and balance transfer using their own funds there are nil foreclosure charges. As for the part payment charges Tata Capital charges you 2% on the prepaid amount. On fixed rate, if the prepaid amount s more than 25% of the outstanding amount there are nil charges. And for floating rate loans using your own funds their are nil prepayment charges. Tata Capital charges you penal fees of upto 2% on the overdue amount while if you see Kotak Mahindra Bank charges Rs. 3000 per annum as a penal fee after giving a notice of 30 days.

FAQs

How do I contact Tata Capital Customer Support?

You can call us on : Phone: 1800-209-6060. Our email id is [email protected]

Postal Address: 11th Floor, Tower A,Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400013, India

How much margin do I have to provide for Tata Capital Home Loan?

10% margin money for home loans of upto Rs. 20 Lacs, 20% margin money for loans above Rs. 20 Lacs to upto Rs. 75 Lakhs and 25% margin money for loans above Rs. 75 Lacs.

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