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  • Tata Capital Business Loan is Rated as "Great!" by 3467 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.

    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
      "Good in Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a loan from TATA capital. The process of applying loan was easy . I didn't had any strain submitting the documents. With Tata Capital this is my first personal loan. The interest rates that i have here is reasonable . My application was processed on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 22, 2019
    • Tata capital Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for Tata capital recently, the loan amount they have given me was sufficient, and the rate of interest they have charged me was nominal,they have charged me up to 11.49% and they have not charged me processing fee , and there was no delay in loan amount , and there overall service till now was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 22, 2019
    • Tata capital Personal Loan
      "Needs to improve on customer service"
      0.5 2.0/5 "Expected more"
      My experience was not good with TATA CAPITAL personal loan, the disbursement amount did not match for this loan. They charged Rs 300 for no reason at the time of taking this loan. Customer service was not good but the rate of interest was nominal.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 21, 2019
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It was really a good experience with personal loan from TATA CAPITAL, there was no processing fee charged and the rate of interest was less when compared to others. Customer service was good and the tenure period for this loan was for 1 year.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for my personal loan with Tata capital from past 11 months , and the loan amount they have charged me was sufficient, they have charged me nominal rate of interest up to 10.99% ,and even processing fee they have charged me was nominal, the process went smoothly without any issue, but one issue i felt like it use to get auto debit from my salary account for an Emi on every 9th date ,they took properly for past 6 months,but after that they use to delay it,on 11 date they take,it use to get delay, and i till it might be effecting my credit score.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 21, 2019
    • Tata capital Personal Loan
      "Excellent card"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with Tata capital , the loan amount they have given me was sufficient , they have charged me rate of interest too high they have charged me up to 11% was nominal, and the processing fee they have charged me was nominal there was no delay in loan .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using TATA CAPITAL bank personal loan for long time,the loan amount which they have given me was sufficient,the rate of interest they have charged me where high,they have charged me up to 14%, it high compare to other bank,and the processing fee they charged me was nominal,till now no issue with them,overall service is good.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 20, 2019
    • Tata capital Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The response was good and I got the least interest for my personal loan. The loan duration is 5 years. After one year I can do the pre closure with 0%. They have processed the loan within 1 to 1.5 weeks. Initially have uploaded the documents online then executive came to collect few document. TATA Capital gave me a right information and really impressed with their service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 19, 2019
    • Tata capital Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The experience with this loan has been quite good where the process in getting this loan has been quite easy. The loan amount has been sufficient and the interest rate with them has less when compared with the market rate. There has also been some charges which has been nominal.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 19, 2019
    • Tata capital Personal Loan
      "Good Professional Service"
      0.5 5.0/5 "Blown Away!"
      When I browsed the online channel, Tata capital is the one having less interest with zero processing fee. That is the reason I took this personal loan from them. The loan process was quite good, the processing time is less. The interaction between me and executive was professional.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have applied my personal loan in Tata Capital through online. The rate of interest and charges are nominal. I have received 2.7L excluding processing fee. The loan duration is 5 years. The documents are collected by executive as well as submitted online. They took max 8 to 9 days to deliver the loan.
      Was this review helpful? 2
      , pune
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Good Experience with Tata Capital"
      0.5 5.0/5 "Blown Away!"
      I got best deal from Tata Capital, the customer support is proactive to process the loan application. But the loan disbursement got delay it should be faster. I got the better interest rate and its zero processing fee from the Tata Capital disbursement.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Should be transparent"
      0.5 4.0/5 "Great!"
      I chosen Tata capital is because of the processing fee waiver off, the interest rate is also okay for me. They charged me around the interest around 11% for Rs.4.75 lakhs. Tata Capital didn't disclose about the part payment and preclosure option. I suggest they should be transparent in all aspects.
      Was this review helpful? 1
      , delhi
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Experience is good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Tata Capital. The customer support and response is good. I received the loan on time and as promised. The rate of interest is of 11.49% which is high and the processing charges is zero. The documentation was collected on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      The experience is good at Tata capital and they were very quick to respond as well. The documents was taken on time. The personal loan was not disbursed on the said date only because of the holiday that came in between. The rate of interest is of 11.49% and the processing fee is zero.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Process is good"
      0.5 4.0/5 "Great!"
      I received a good response from Tata Capital for the personal loan. I got the funds within a week and as per my requirement. The rate of interest was of 11.49% which is on the higher side as the other banks are offering 11%. The processing was zero.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I was looking for a personal loan and thats when i applied with TATA Capital. This is the first time with TATA Capital and i am happy about it. My application was taken care and it was processed on time. The tenure period is 2 year and i use to pay EMI on time .
      Was this review helpful? 0
      , pune
      Reviewed on Jan 18, 2019
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience was good with TATA CAPITAL for personal loan, the disbursement took long time and i received my loan amount within 15 days. Loan amount was sufficient and the rate of interest was nominal. Tenure period for this loan is 4 years and the customer service was good.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jan 17, 2019
    • Tata capital Personal Loan
      "Average loan"
      0.5 3.0/5 "Satisfactory"
      I have applied the loan amount of Rs. 4 lakhs and they have sanctioned only 3.40 lakhs according to my eligibility. They have given me a interest rate of 14.10% and I'm unsatisfied with it. Before approval they said maximum of 12% but it didn't happened. They have deducted around Rs. 1200 as a processing fee. Total tenure period of the loan is 4 years.
      Was this review helpful? 1
      , faridabad
      Reviewed on Jan 17, 2019
    • Tata capital Personal Loan
      "Good Loan Services"
      0.5 5.0/5 "Blown Away!"
      Because of the lower interest rates i have chosen the TATA CAPITAL. I have applied the loan amount of Rs. 1.10 lakhs and i have received the same. The loan got sanctioned on time. Documentation process was fine. Overall, I'm satisfied with the service provided by them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2019
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