TATA Capital Education Loan

1. The eligibility criteria to apply for the TATA Capital education loan are as follows: 

1. Must be an Indian citizen. 

1. Must be between the ages of 18 and 35 years. 

1. Must have completed their 10th, plus 2, or diploma. 

1. The loan must only be taken to apply for graduation/post-graduation courses, a PhD, or a diploma. 

1. The university the borrower applied for must be a recognised institution in India or abroad. 

1. The security can be a property, a fixed deposit, or an existing home loan with the lender for cross collateral. 

How to Apply for a TATA Capital Education Loan? 

The steps to applying for the TATA Capital education loan are simple. To apply, follow the steps given below: 

Step 1: Visit the official website and apply for the loan online. 

Step 2: Upload the required documents. 

Step 3: The documents and the application will be verified. 

Step 4: Once the verification process is completed, the loan will be sanctioned. 

Step 5: The amount will be deposited into your bank account. 

Document Required to Apply for a TATA Capital Education Loan 

To apply for the TATA Capital education loan, certain documents are required. They are as follows: 

1. Photo identity proof 

1. Copy of Aadhaar/voter ID/passport/driving licence

1. Address proof 

1. Signature verification 

1. Permanent account number 

1. Photograph 

1. Income proof (Form 16 for the last 2 years or a copy of your bank statement for 6 months) 

1. Salary slip 

If you are applying for the loan with a co-applicant, the following are the documents to submit: 

For Applicant: 

1. Copy of Aadhaar/voter ID/passport/driving licence 

1. Address proof 

1. Photo identity proof 

Copy of marksheets, including entrance exam scores and degree certificate 

For Co-applicant: 

1. Identity proof 

1. Address proof 

1. Salary slips, income tax returns, and bank statements (for salaried co-applicant) 

1. Business bank account statements, income tax returns, GST registration (for self-employed co-applicants) 

Charges for TATA Capital Education Loan 

The several charges involved in the TATA Capital education loan are as follows: 

Processing fee: A non-refundable fee levied by TATA Capital for processing the loan application. You will be charged 2% of the loan amount at TATA Capital. 

Legal and valuation charges: Rs.5000 is charged to cover the legal review of the loan and valuation of the asset or property provided as collateral. 

CERSAI Charges: A non-refundable fee for registering mortgage details. For loans up to Rs.5 lakh, a charge of Rs.50 applies, and for loans above Rs.5 lakh, the charge is Rs.100. 

Documentation charges:  Rs. 1999 is charged to cover verification of documents and compliance check.  

Document handling and retrieval charges: Rs.5,000 charged for the safe storage and retrieval of collateral documents. 

Benefits of Applying for TATA Capital Education Loan 

The TATA Capital education loan offers a wide range of benefits to applicants. Primarily, they provide affordable and quality education to students in India regardless of their financial circumstances. The application process is smooth and hassle-free, and applicants can obtain an unsecured loan without the need for any collateral. 

Most importantly, the TATA Capital education loan offers high interest rates and flexible payment options, making this loan scheme a perfect choice for applicants. 

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