Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Tata Capital Business Loan is Rated as "Great!" by 2851 Users

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    Tata Capital Business Loan

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    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.

    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.

    One can also apply for TATA Capital Business Loan through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the 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
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with Tata Capital.They offered a loan amount of two lakhs,rate of interest is 13% nominal as compared to others.I had uploaded documents and also physically submitted with an executives due to technical issues.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 15, 2017
    • Tata capital Personal Loan
      "Very worst service"
      0.5 1.0/5 "Really Bad"
      The personal loan service is not up to the mark with the TATA capital . They have promised me a date to debit the EMI but they haven't fixed on that . The customer support is not up to the mark. They have also charges Rs,15,000 in the name of Insurance. The rate of interest and the charges are very high with the TATA CAPITAL. There was no transparency in their process.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 14, 2017
    • Tata capital Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Tata capital personal loan service was good ,the rate of interest they offered me was 12.75 which was comfortable for me. The documents have been collected from my door step which was easy process it was totally a good experience with tata capital personal loan service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 14, 2017
    • Tata capital Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Tata capital personal loan service was good ,the interest rate they offered me was 12.59 comfortable for me and the documents have been collected from my door step. The customer support was prompt it was a good experience with tata capital personal loan department.
      Was this review helpful? 2
      , kolkata
      Reviewed on Dec 14, 2017
    • Tata capital Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a better service from Tata capital personal loan service compared to others in the market,the customer support was good rate of interest was fine. The documents have been collected from door step it was a good experience with tata capital personal loan service.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Dec 14, 2017
    • Tata capital Personal Loan
      "Best"
      0.5 4.5/5 "Excellent!"
      Customer service and other things are good one with the State Bank of India credit card and the response is good one. The credit card got approved within two months of time. I am happy with the State Bank of India credit card, also I really dont have any issues with them till now.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 11, 2017
    • Tata capital Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have my personal loan with TATA CAPITAL . The loan amount was 2.75 lakhs and the rate of interest was 13% which was avergae in the market . They have provided door step service for collecting documents and there is no processing fee. The customer service and responses was satisfactory .
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 11, 2017
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with Tata Capital.The loan amount is 1.3 lakhs,rate of interest is nominal as compared to others.Net banking is very comfortable to use,they had immediately responded but there was a little delay in processing the request.
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 11, 2017
    • Tata capital Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan with Tata Capital.The loan amount is five lakhs,rate of interest is nominal as compared to others.I got an immediate response from the executives.The net banking is very convenient use.The phone banking service is prompt.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 11, 2017
    • Tata capital Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have my personal loan with TATA CAPITAL . The loan amount was 2lakhs and the interest rate was 11.99% which was bit high than other banks in the market. The processing fee was nominal but the process was bit lengthy . My overall experience was good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 11, 2017
    • Tata capital Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have my personal loan with TATA CAPITAL . Their service is very good, prompt. They were always ready help! The rate of interest offered was better than most of the financial establishments. I would highly recommend them for everyone looking out for a loan.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Dec 11, 2017
    • Tata capital Personal Loan
      "Better"
      0.5 4.0/5 "Great!"
      I have my personal loan with TATA CAPITAL. The loan amount was 5.70 lakhs and the interest rate was 11.84% which was satisfactory . The tenure period was 6 years and the processing fee was nominal . I am satisfied with the customer service and responses .
      Was this review helpful? 0
      , gurgaon
      Reviewed on Dec 11, 2017
    • Tata capital Personal Loan
      "Satisafctory"
      0.5 4.0/5 "Great!"
      My personal loan was taken with TATA CAPITAL. The loan process was very good and the loan amount was 3.5 lakhs. The rate of interest was 13% which was bit high than other banks in the market and the EMI period was 5 years. Here the pre closer is after 6 months and the processing fee was nominal.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 09, 2017
    • Tata capital Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The interest rate offered by Tata capital personal loan service was 11.9 which was fine compared to others in the market. The documents have been uploaded through online ,the customer support was responsible it was a good experience with Tata capital personal loan department.
      Was this review helpful? 1
      , mumbai
      Reviewed on Dec 08, 2017
    • Tata capital Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      The service of tata capital personal loan service was good ,the customer support was good. The rate of interest they offered me was 11.99 which was high compare to others in the market ,the required documents hard copy of my documents and some where uploaded through online for the loan process it was a good experience with Tata capital personal loan service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Dec 08, 2017
    • Tata capital Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from Tata Capital, my loan application was approved and the requested amount was disbursed. The process was quite long, it took 15 days for the loan amount to get disbursed. Customer service was good, they followed up on time and they provided door step service to collect the documents. The rate of interest of 12.75% was high when compared to other banks and the processing fees was nominal. There is no penalty on preclosure after 1 year.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Dec 08, 2017
    • Tata capital Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I am very happy with the services from Tata Capital, the process was quite smooth and easy, it took 2 days for the loan amount to get approved. When it comes to customer service, it was good and they responded on time, they provided door step for documents pick up. The rate of interest of 12.75% is nominal when compared to other banks.
      Was this review helpful? 0
      , greater noida
      Reviewed on Dec 08, 2017
    • Tata capital Personal Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      I have my personal loan with TATA CAPITAL . The loan amount was 5.5 lakhs and the rate of interest was 11.49% which was avergae in the market . Here tenure period was 5 years and there is no processing fee but they have collected 2,500 for Insurance. The process was good but they ave taken a week of time for the sanctioned the loan which was bit disappointing other than that I am satisfied with the overall experience.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 08, 2017
    • Tata capital Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The Tata capital was promised me that they will disburse the loan amount of Rs,4,80,000 but they have disbursed only Rs,4,00,000. The customer support need to be improved with TATA capital and their promises need to be fulfilled by TATA CAPITAL.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 08, 2017
    • Tata capital Personal Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I have my personal loan with TATA CAPITAL. I have taken 7.5 lakhs and the rate of interest was 12.99% which was avergae in the market . They have sanctioned the loan with the committed time and the processing fee was also nominal. My experience was excellent and Its recommendable .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 08, 2017
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