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  • Tata Capital Business Loan is Rated as "Great!" by 3138 Users

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    Tata Capital Business Loan

    TATA Capital provides unsecured loans that are ideally aimed to provide financial aid towards business needs of self-employed professionals, business owners and even doctors. These loans can help out in the growth or urgent financial demands of any business. Coupled with Flexi EMIs, these loans can present a very good opportunity for business owners to avail financing that is affordable and easily payable.

    Apply for Personal Loan

    What is the usage of TATA Capital Business Loan?

    This unsecured loan is provided to self-employed individuals or entrepreneurs for the sake of furthering their business. Long repayment terms allow the loan to function as an effective working capital tool.

    Who is eligible for TATA Capital Business Loan?

    An unsecured business loan as this has a few eligibility criteria to be met in order for the financial institution to be able to sanction the loan. The eligibility requirements can be mentioned as follows –

    1. Applicants can be individuals, professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies)
    2. Applicants should be at least 25 years of age when the loan is sanctioned and at most 65 years of age at the time of loan maturity
    3. The minimum turnover per financial year should be INR 40 lakhs in case of Proprietorship, Partnership Firm, Private Limited Companies, Limited Companies (closely held), Societies and Trusts. The income tax return should be INR 3 lakhs
    4. The minimum occupational stability for individuals and non-individuals is 3 years prior to the application of the loan and the business should be running in profit for as long

    What are the types of Financing under TATA Capital Business Loan?

    Business Loan from TATA Capital is a specific term loan with repayment period of up to 3 years.

    What are Flexi EMIs?

    Repayment options from TATA Capital allow one to manage one’s personal finance effectively by either scaling up or scaling down the payments to be made for the loan. These repayment options are termed as Flexi EMIs. There are three options available under Flexi EMIs, namely -

    1. Step Up Flexi EMI Plan - Suitable for people who want to close the loan quickly but not instantly can opt to pay increasing amounts of EMIs every month. That effectively reduces the principal component faster and thus accounts for lesser interest to be paid every month. If one sees better prospects for one’s business, they can opt for this plan to go hand in hand with their increased income capacity
    2. Step Down Flexi EMI Plan - Sometimes, larger initial payments cut out the major portion of principal that generates interest. In view of that, this option allows one to pay a large EMI at the onset of repayment and gradually reduces the EMI amount towards the close of the loan. This option can be chosen by people who have higher disposable monthly income
    3. Bullet Flexi EMI Plan - Businesses are subject to market conditions and that is precisely the reason why sometimes payments can be irregular. This option allows people to make periodic payments as comfortable to them and if possible allow for an occasional large repayment

    What are the loan limits under TATA Capital Business Loan?

    Based on the creditworthiness of the applicant and validity of documents, TATA Capital can provide loans from INR 3 lakhs up to INR 50 lakhs.

    What are the interest rates for TATA Capital Business Loan?

    Interest rates for a Business Loan could depend on the base lending rate and is based on the discretion of TATA Capital. Further changes to the rates could be done by TATA Capital as and when required.

    What are the fees and charges involved with TATA Capital Business Loans?

    The following will be the various charges that one would need to pay once a loan amount has been accepted.

    Charges Amount
    Post Dated Cheque Charges INR 850
    Cheque Bounce Charges per event INR 450
    Cancellation of Loan Higher INR 5750 or 2% of loan amount
    Duplicate NOC INR 550
    Swapping Charges (for payment mandate) INR 600
    Foreclosure Charges 4.5% of outstanding principal amount along with taxes
    Foreclosure Charges on top ups 2% of principal outstanding plus taxes
    Duplicate Repayment Schedule INR 550
    Legal action INR 3400
    Initiation of Arbitration Proceedings INR 4000
    Receiving Order from District Court INR 4000
    Receiving Order from High Court INR 13500
    Issue of each Legal Notice INR 125 to INR 300
    Award Execution INR 5600

    What is the documentation required during applying for TATA Business Loan?

    The standard list of required documents for applying for this loan are mentioned as follows –

    1. Photographs of each individual applicant and co-applicant, directors and promoters, in case of a company & Trusts, partners in case of a partnership firm or authorized person as applicable in case of societies
    2. IT Returns, Audited Profit and Loss Account statement and Balance Sheet for the last 2 years, six months bank statement of the primary current account, business proof, latest year provisional, sundry creditors and debtors list
    3. Know Your Customer (KYC) documents for the co-applicant.

    4. Partnership deed, Memorandum of Association (MOA) and Articles of Association (AOA) or License issued under the Shops and Establishments Act of the respective states for business proof.

    The above set of documents comprise the minimum required list. To aid in credit approval, TATA Capital might ask for extra documents if necessary.

    What are the Features of TATA Capital Business Loan?

    The Business Loan from TATA Capital is a good financing option for urgent financial needs on business grounds.

    Some key features of this specialised loan are as follows –

    1. Loan tenure or repayment period can be as high as 36 months
    2. Minimal documentation and faster approval
    3. No security or collateral required
    4. High loan amounts up to INR 50 lakhs
    5. Flexi EMI options that allow for better repayment

    How to apply for TATA Capital Business Loan?

    The loan can be applied for through TATA Capital’s website, as well as forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail TATA Capital requesting an executive assistance for application process.

    TATA Capital Business Loan FAQs

    1. What is the range of loan amount that is available?

      Based on the security offered or not, the loan amount may range from INR 3 lakhs to INR 50 lakhs. TATA Capital might allow a higher loan amount based on its discretion.

    2. What is tenure for loans through TATA Capital Business Loans?

      The loans can be taken for a minimum period of 12 months to a maximum period of 36 months.

    3. What kind of interest is offered?

      The interest rate on this loan is fixed.

    4. What mode of repayment is accepted for these loans?

      One can pay the EMIs through post-dated cheques, electronic clearance service or direct debit.

    5. What does one have to do for availing a TATA Capital Business Loan?

      One can call TATA Capital or email them. Alternatively, you can apply for a loan through BankBazaar.

    6. What is the eligibility criteria for this loan?

      Loans can be offered to individuals as well as companies and they should fall within the categories of -

      1. Sole Proprietorship
      2. Partnership Firm
      3. Private Limited Companies
      4. Closely held Public Limited Companies
      5. Societies
      6. Trusts
      7. Hospitals, Nursing Homes, Diagnostic Centres, Pathological Labs

    Tata Capital Business Loan Reviews

    • Tata capital Personal Loan
      "OUTSTANDING"
      0.5 5.0/5 "Blown Away!"
      I got personal loan through TATA CAPITAL , i am holding this account for past 5year . The rate of interest is 10.4% and the tenure period is 6month . Customer support is up to the mark , i do not have to face any issue at the time of getting the loan . So far it has been good experience .
      Was this review helpful? 4
      , mumbai
      Reviewed on Sep 14, 2018
    • Tata capital Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since they where providing a paperless approval and the process in getting this loan was extremely easy. It has taken very less time in disbursing the loan amount and the response which they had shown has been good as well. The loan amount which they had provided has been satisfactory, there has not been any additional charges which they had made or there has not been any sort of additional charges which they have made so far.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 12, 2018
    • Tata capital Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since the interest rate with them has been good with them when compared with the market rate. The process in getting the loan had been good as well, their customer support also had been responsive. The loan amount also had been satisfactory and there has not been any additional charges which have been made by them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 12, 2018
    • Tata capital Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The process was smooth with TATA CAPITAL personal loan application, i received my loan amount in 10-15 days. The loan amount was for Rs 1 lac with high interest rate when compared to others. Customer service was good and they followed up on time. Tenure period for this loan is 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 12, 2018
    • Tata capital Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      My experience was up to the mark with TATA CAPITAL for personal loan, the process was smooth and i received my loan amount within 10-15 days. The loan amount was for Rs 4.25 lacs with nominal interest rate and tenure period for this loan is 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 12, 2018
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It was a good experience with TATA CAPITAL for personal loan, the loan amount was for Rs 6.7 lacs with the tenure period of 5 years and the rate of interest was nominal when compared to other banks. Customer service was good and their response was on time.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 12, 2018
    • Tata capital Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      The process was very quick with TATA CAPITAL personal loan application, i received my loan within 3 days. The loan amount was for Rs 10 lacs with nominal interest rate when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 5 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2018
    • Tata capital Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      My personal loan was taken with TATA CAPITAL 7 months back.The loan amount 10 lakhs and the interest rate was 10.5% which is average . The tenure period was 5 years . The customer service and responses was good. I have faced some issues but it was rectified.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2018
    • Tata capital Personal Loan
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan through TATA CAPITA L , they provide 11% of interest rate and it is nominal in the market . Customer support i have not approach so far but at the time of getting loan it is good . The banking process is very quick within week i got my loan amount .
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 11, 2018
    • Tata capital Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan with TATA CAPITAL , there is processing fee with rs 2000 and it is nominal in the market . The bank provide me with foreclose option and they are not charging for it . Rate of interest is nominal with this bank and tenure period is 4years with TATA CAPITAL.
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 11, 2018
    • Tata capital Personal Loan
      "BEST SERVICE"
      0.5 5.0/5 "Blown Away!"
      I got my personal loan with TATA CAPITAL . My loan amount is satisfactory and tenure period is 5years . There are no hidden charges with this bank , and rate of interest is 10.92% and it is nominal in the market . Customer support is good and they responded on time .
      Was this review helpful? 2
      , mumbai
      Reviewed on Sep 11, 2018
    • Tata capital Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      My personal loan was taken with TATA CAPITAL , and they provide 11% rate of interest and it is nominal in the market . I cannot rate to customer service because i have not interact with them much . The processing fee is 0 and tenure period is 1year . SO far it has been good experience with this bank .
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Sep 11, 2018
    • Tata capital Personal Loan
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loon from the TATA CAPITAL . My loan amount is up to the mark and tenure period is 5year . They charge 8000 rs for insurance and it is too high . Customer support and their response is satisfactory . There are no hidden charges with this bank .
      Was this review helpful? 2
      , chennai
      Reviewed on Sep 11, 2018
    • Tata capital Personal Loan
      "GOOD SERVICE"
      0.5 5.0/5 "Blown Away!"
      I got my personal loan with TATA CAPITAL , the disappointment part of this bank is intially they said 10% of interest rate but later they charge 11% and even loan amount is not up to the mark . One of the customer support visit to my home for document collection. Also my personal bank details and said if i wont provide i will not get my loan so i feel this is not secured to ask about confidential bank details .
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 11, 2018
    • Tata capital Personal Loan
      "Experience is good"
      0.5 4.0/5 "Great!"
      The process was smooth at Tata Capital. The customer services and response is good and the process was on time. I received the personal loan as per my requirement. The rate of interest is around 10.99% and the processing charges are waived off completely.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 11, 2018
    • Tata capital Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Tata Capital. The overall experience is excellent but there was a little delay. I am not sure on the exact rate of interest offered, but it is a good deal. I was told that there would be a fee of 450 for the part payment interest which is okay. But there was 600 more deducted for which I did not get the receipt. I do not mind the deduction but there should be some clarity in it.
      Was this review helpful? 0
      , nagpur
      Reviewed on Sep 11, 2018
    • Tata capital Personal Loan
      "Good. Can be more quick"
      0.5 4.0/5 "Great!"
      Tata Capital has provided the personal loan and the process was good. It would have been better if the loan was provided much sooner as there was a delay of three days than what was informed to me initially. The rate of interest is around 13.5% and the processing fee was waived off.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Sep 11, 2018
    • Tata capital Personal Loan
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      It was a pretty good and fast process with Tata capital. The customer services was good and the process was completed quickly. I received the personal loan in three to four days and it was as needed. The rate of interest is around 11% and the process fee was waived off.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 10, 2018
    • Tata capital Personal Loan
      "Good services and response"
      0.5 4.5/5 "Excellent!"
      Tata Capital process my personal loan on time. It was good experience and the documentation was collected on time. I also received the loan as needed and it was disbursed on time too. The rate of interest is of 10.99% and the processing charges was zero.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 10, 2018
    • Tata capital Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan with TATA CAPITAL recently . The loan amount was 6 lakhs and the interest rate was average i the market., The tenure period was 6 years . There is no issues faced with the service here. The documentation was smooth and there is no delay at all . I was not asked to the processing fee also so i would like to recommend to others.
      Was this review helpful? 4
      , mumbai
      Reviewed on Sep 08, 2018
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