Tata Capital offers collateral-free business loans which you can avail to start or revamp your business, purchase new machinery, launch a new store, etc. The interest rate on the business loans start from 19% p.a. and you can avail loans ranging between Rs.5 lakh and Rs.75 lakh. You can pay the loan in flexible repayment tenures ranging from 12 months to 36 months.
|Interest Rate||Loan Amount||Repayment Tenure||Processing Fee|
|19% p.a. Onwards||Up to Rs.75 lakh||12 months to 36 months||Up to 2.50% of the loan amount plus GST|
|Penal Interest||3% on overdue amount per month plus GST|
|Bounce Charges||Rs.2,000 for every cheque/payment instrument dishonor plus GST|
|Mandate Rejection Charges||Rs.450 plus GST|
|CCOD Annual Maintenance Charges||
|Document Processing Charges||Rs.1,999 plus GST|
|Outstation Collection Charges||Rs.100 plus GST per repayment instrument|
|Statement of Accounts||
|Foreclosure Charges||4.5% on the future principal outstanding on existing loan plus GST|
|Foreclosure Charges for Top-Up||2.25% on the future principal outstanding on existing loan plus GST|
|Foreclosure Charges in CCOD cases||4.5% on the drop-down limit amount plus taxes applicable No foreclosure charges allowed for the first 9 months. 6.5% charge will be levied if foreclosed within 9 months|
|Loan Cancellation Charges||2% of loan amount or Rs.5,750 whichever is higher plus GST|
|Instrument Swap Charges||Rs.550 plus GST|
|Duplicate NOC||Rs.550 plus GST|
|Duplicate Repayment Schedule||
|Foreclosure Letter Charge||
|Post-Dated Cheque Charges||Rs.850 plus GST|
To avail a business loan from Tata Capital, you need to fulfil the below-given criteria:
While applying for a business loan from Tata Capital, you will be expected to furnish the following documents:
|Proof of Identity||Voter ID/Aadhaar Card/Passport/Driving License|
|Bank Statements||Last 6 months bank statements|
|Proof of Business||Ownership documents, Sales Tax/Trade License/Establishment Certificate, Partnership Deed, Income Tax Returns (ITR), Balance Sheet, and Profit/Loss Statement|
|Application Form||Filled and duly signed|
When you avail a business loan from Tata Capital, you can choose between two equated monthly instalment (EMI) options:
Ans: There are 3 ways by which you can apply for a business loan from Tata Capital. The first way is the online method wherein you need to visit the official website of Tata Capital, fill up a form, and upload the necessary documents. In the second method, you can visit the nearest branch of the Tata Capital and apply for the business loan. The third method will require you to call the customer care of Tata Capital at the toll-free number 1800-209-6060. The helpline is available from 9:00 a.m. to 8:00 p.m. Monday to Saturday
Ans: The EMI amount that you need to pay towards your Tata Capital business loan will depend on the amount of loan you avail, the tenure you choose, and the interest rate. You can calculate the EMI amount by using the EMI Calculator Tool on the BankBazaar website.
Ans: The interest rate on the business loan from Tata Capital is fixed which means there will be no change in the EMI throughout the loan tenure.
Ans: Business loans availed from Tata Capital can be repaid through direct debit, post-dated cheques, and ECS.
Ans: Yes, you are eligible to get a business loan from Tata Capital if you own a hospital, nursing home, pathological lab, diagnostic center, etc. The other customer segments eligible for business loans are partnership firms, sole proprietorship, societies, trusts, private limited companies, etc.
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