Tata Capital business loan is a type of unsecured Tata Capital loan that allows you to arrange funds to expand or boost your business. This loan is offered to fulfill many business oriented purposes for small, medium and large enterprises, be it the purchase of machinery or requirement of more funds to expand business. Tata Capital business loan interest rates start from 13.50% per annum and the lender offers a flexible period for loan repayment.
|
Loan Amount |
Ranges between Rs 5 lacs and Rs 1 crore |
|
Interest Charges |
Starts at 13.50% to 19% per annum |
|
Processing Fees |
2.50% of loan amount plus applicable charges |
|
Repayment Tenure |
Ranges from 12 months to 36 months |
|
Prepayment |
Up to 6.5% of principal outstanding |
Take a look at the Tata Capital business loan features:
Purpose
Tata Capital business loans are offered to help individuals fulfill the following purposes:
Loan Amount
Tata Capital offers the minimum business loan of Rs 5 lacs and the maximum business loan amount offered is Ra 75 lacs. Note that the amount is decided by determining various factors such as the type of business, your profile etc.
Rate of Interest
The Tata Capital interest rates start between 13.50% per annum to 19% per annum. The rate of interest is subject to various factors including the type of business you are into and your eligibility profile.
Loan Repayment Tenure
You get the repayment tenure ranging from 12 months to 36 months to repay your Tata Capital business loan.
Foreclosure
You can make foreclosure of your Tata Capital business loan after 9 months of the loan tenure. If you foreclose your loan within 9 months of the tenure, then the bank charges a prepayment fee of 6.5% of the future principal outstanding. For prepayment after 9 months, the bank charges a fee of 4.5% of the principal outstanding.
Tata Capital has certain eligibility criteria that has to be met by the applicants to be able to get the funds conveniently. Before you proceed to apply for the loan, it is advised that you go through the Tata Capital business loan eligibility requirements and make sure you are up to them.
Here are the Tata Capital business loan eligibility requirements that you have to fulfill:
You must submit all the required Tata Capital business loan documents that are asked by the lender. Since not following the proper documentation leads to delayed application procedure and even rejection, you must keep the documents ready before applying for the loan.
Here are the documents required for Tata Capital business loan:
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Identity Proof |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
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Address Proof |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
|
Income Proof |
Balance sheet and profit and loss account, IT Returns, Business Proof |
|
Other Documents |
Passport-size Photographs, Duly Filled Application Form |
Compare Other Bank Business Loan Interest Rates
|
BANKS |
INTEREST RATE |
| Axis Bank Business Loan | 11.50% to 20% |
|
15.65% to 21.20% |
|
|
16.25% to 19.99% |
|
|
12% to 16% |
|
|
10.65% to 16.25% |
|
|
8.30% |
|
|
12.65% |
Tata Capital business loan calculator allows you to understand the monthly cost you are going to bear for the repayment of your business loan. This calculator gives you the payable Tata Capital business loan EMI amount which helps you manage other monthly expenses accordingly.
Here is how to calculate the EMI using the Tata Capital business loan EMI calculator:
You can now check the monthly payment for your Tata Capital business loan instalments.
You can also move to the BankSathi loan EMI calculator to know the amount of your business loan monthly instalments. This tool is real quick to tell you the monthly as well as the yearly cost of your loan by using the loan amount, repayment term and interest rate.
There are multiple ways to apply for the Tata Capital business loan. You can do it either offline or online. Here is how:
You can apply for the Tata Capital business loan offline to do which you can hop to the nearest branch of the lender. Make sure you carry all the documents to the branch where you will be assisted by the lender for loan application procedure.
Follow these simple steps to apply for the loan online:
Once your Tata Capital business loan application is submitted, the loan representative will reach out to you to proceed with it.
You can also contact the Tata Capital customer support to get started with the loan application.
If you have further questions related to the loan, please contact the Tata Capital customer support.
Here is the Tata Capital business loan customer care number which you can dial in case of any assistance/ queries/ grievances / feedback related to the loan:
1860 267 6060
The Tata Capital interest rates start between 13.50% per annum to 19% per annum depending on the type of business for which you are applying for the loan.
Tata Capital offers the minimum business loan of Rs 5 lacs and the maximum business loan amount offered is Ra 75 lacs, subject to the type of business for which you are applying for the loan.
Here are many ways to apply for the Tata Capital business loan:
No. Tata Capital business loan is an unsecured loan which means that you will not be required to offer any security or collateral to the lender to avail the loan.
Tata Capital enables users to make business loan foreclosure after 9 months of the loan tenure. If you foreclose your loan within 9 months of the tenure, then the bank charges a prepayment fee of 6.5% of the future principal outstanding. For prepayment after 9 months, the bank charges a fee of 4.5% of the principal outstanding.
Last Updated on : 10/May/2021Know More About
You're eligible for a Tata Capital Business Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Business Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Tata Capital Business Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 13.5% - 19% |
| Processing Fees | 2.50% |
| Loan Tenure | 1 year to 3 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Business Loans EMI Calculator