Gone are those days when you had to borrow money from your relatives and friends to meet sudden arrived expenses. Now, you can borrow personal loan amount from various banks and NBFCs functioning in India. Due to increase in internet dependency among Indians, financial institutions took their services and products online. It not only increased their reach but also their product sales. Despite having good profits, they kept charging high-interest rate as well as other fees on personal loans. And that’s where Tata Capital distanced itself from others. 

Tata Capital charges a reasonable interest rate on its loan. Tata Capital Personal Loan Interest Rate starts at 10.99% and goes up to 18% in some specific cases. Apart from that, one can also avail Tata Capital Personal Loan Online by filling the personal loan application that can be found on Tata Capital’s website. 

Tata Capital also provides a feature to track Tata Capital Personal Loan Status online. Now, customers can track their personal loan application status online by providing the required details. Read to know more about Tata Capital Personal Loan and how to apply online.

What is Tata Capital?

Known for personal loan and its amazing customer support, Tata Capital is a financial and investment service provider in India. Headquartered in Mumbai, it has more than 100 branches all over the country. To cater people in need, it provides various range of financial products like personal loan, business loan, home loans, etc. 

6 Reasons to Apply for Tata Capital Personal Loan Online

Tata Capital Personal Loan can be availed by salaried or self-employed individuals to meet various financial needs. You can avail personal loan from Tata Capital for following reasons –

  • To pay medical bills
  • To renovate home
  • To plan a family trip to your favourite destination
  • To provide a quality education to children
  • To buy something expensive
  • To plan a wedding

Highlights of Tata Capital Personal Loan 2019

  1. Multipurpose in nature – Tata Capital Personal Loan can be availed for multiple purpose. As far as it is valid, Tata Capital won’t track the end-usage of the personal loan. You can use to get married, plan a family trip, etc.
  2. Minimum documents required – The NBFC asks for very minimum documents when compared to other financial institutions. As Tata Capital understands the urgency of a loan customer, it lends personal loan instantly without asking for unnecessary documents. 
  3. No collateral required – Tata Capital lends unsecured personal loan. For this type of personal loan, this NBFC asks for no collateral deposit.
  4. Easy repayment options – Loan repayment with this NBFC is easy as it provides an option to repay the loan in small equated monthly installments (EMI)
  5. Extended loan repayment tenure – Unlike other banks and NBFCs, Tata Capital provides the facility to repay the loan amount in 6 years. 

Check Tata Capital Personal Loan Interest Rate and Other Important Facts

Check the table given below to know the interest rate on Tata Capital Personal Loan and other important details.

Tata Capital Personal Loan 
Interest Rate 2019
11.25% – 19%
Tata Capital Personal Loan 
Tenure
12 to 72 months
Tata Capital Personal Loan 
Pre-closure Charges
Up to 4% of the outstanding loan amount
Tata Capital Personal Loan 
Repayment Charges
Allowed after 6 months, Nil
Tata Capital Personal Loan 
Processing Fee
Start at Rs. 1499/- + Applicable GST
Minimum Income Criteria Rs. 20,000 per month 
Tata Capital Personal Loan 
Loan Amount
Minimum- Rs. 75,000 
Maximum- Rs. 20 Lakhs

 

Tata Capital Personal Loan EMI Calculator

We often think that personal loan comes with very hidden agenda. We believe that commitment of EMI will turn bad in future. And for such beliefs towards personal loan, Tata Capital provides personal loan EMI calculator on its website. You can do following things with personal loan EMI calculator –

  • Calculate Equated Monthly Installment that you will have to pay throughout the loan tenure for the loan amount that you choose to take.
  • Calculate the total payable interest on the sanctioned personal loan amount.
  • Calculate the total amount that you will be paying. Total payable amount is the sum of total payable interest and total loan amount that you choose to avail.
  • By calculating these things, you can plan your loan accordingly. The calculation helps in planning for loan amount and loan tenure.

Working of Personal Loan Calculator

Tata Capital Personal Loan Calculator works on a complex mathematical formula. It does a quick maths for the information that you provide. Below, you can see the formula on which personal loan EMI calculator works.

E = P * r * (1+r)^n/((1+r)^n – 1),

Where E = EMI that you will have to pay, P = Personal Loan Amount that you want to avail, R = Monthly rate of interest, N = Loan Tenure (repayment tenure).

In the table given below, we used the personal loan EMI calculator to calculate the EMI that you will be paying on the personal loan amount of Rs. 10 Lacs at 14% rate of interest for 1,2,4, and 5 years.

Loan Amount Interest Rate Tenure Monthly Instalments Total Interest Amount Total Amount
₹ 10,00,000 14% 1 ₹   89,787 ₹   77,445 ₹ 10,77,445
₹ 10,00,000 14% 2 ₹   48,012 ₹  1,52,309 ₹   11,52,309
₹ 10,00,000 14% 4 ₹   27,326 ₹   3,11,670 ₹   13,11,670
₹ 10,00,000 14% 5 ₹   23,268 ₹   3,96,095 ₹   13,96,095

 

FAQs

  1. How can I check my loan status in Tata Capital?
  2. You can easily check the Tata Capital Personal Loan Application Status by making a call on the customer support number. All you have to do is to provide your application number. This can be also done through internet. For that, you have to visit Tata Capital’s website and look for track your application. Once you find it, you can easily check the personal loan application status by providing your Tata Capital Personal Loan Application Id where it is need. 
  3. Can I get a personal loan if my salary is 15,000?
  4. You can get a personal loan if your salary is Rs. 15,000 but not from Tata Capital. Tata Capital Personal Loan can only be availed by those whose salary is Rs. 20,000 or more. To avail a personal loan with a salary of Rs. 15,000, you have to get in touch with loan aggregators for convenience and good loan experience.
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