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  • Tata Capital Business Loan is Rated as "Great!" by 2666 Users

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    Tata Capital Business Loan

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    Overview about 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.

    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
      "Its Good"
      0.5 4.0/5 "Great!"
      I am fine with Tata Capital service, I took the amount of Rs. 1.5 lakh for the loan period two years. Tata Capital gave me the interest of 11.99% of interest, they gave me part payment and preclosure option, overall I am fine with their service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 21, 2017
    • Tata capital Personal Loan
      "Good response"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with TATA CAPITAL LIMITED through online portal. It was a good experience. The rate of interest was moderate.It was a paperless approval and everything has happened on time. The EMI duration is 2 years and the payment will be debited from my salary account.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 21, 2017
    • Tata capital Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      I t was a very fast service from TATA CAPITAL for my personal loan service ,the customer service staffs of TATA CAPITAL was very good they use to update me regularly regarding my loan process but I feel the rate of interest they offered was little high 12.75 but the overall service was very good TATA CAPITAL for my personal loan service.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 21, 2017
    • Tata capital Personal Loan
      "Quick disbursement process from Tata Capital"
      0.5 5.0/5 "Blown Away!"
      It was a very nice loan process, they took minimum time to disburse the amount. But documentation procedure was difficult I done lot of paper work and also interest rate was higher side compared with HDFC or ICICI but the good point they disbursed the amount on time.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 19, 2017
    • Tata capital Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Tata Capital and the customer services are good. The communication is also proper and I had no issues about it. The interest rate was around 14.5% and the processing charges are average.They have a part payment facility and the process is online.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 17, 2017
    • Tata capital Personal Loan
      "Average experience"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan from Tata capital. It was a neutral experience and I had requested for three lakhs and I finally got only two lakhs due to the credit norms. The documentation and process was on time and the rate of interest was of 12% and the processing charges was also average.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 16, 2017
    • Tata capital Personal Loan
      "Better service "
      0.5 4.0/5 "Great!"
      I had applied for a personal loan with Tata capital limited for an amount of 8 lakhs at the interest rate of 11.9%,Its nominal as compared to other banks in the market.customer service was satisfying on the whole they processed it very quickly within 10 days an the amount got credited on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 16, 2017
    • Tata capital Personal Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      Service of the TATA CAPITAL in the beginning was good, After submitting the documents everything, I kept following up with them instead they should do it.TATA Capital offered the interest of 12.5% it quit high and there was processing fee 2875/-. I wish TATA Capital should give proper response to the customers.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 15, 2017
    • Tata capital Personal Loan
      "Can be better"
      0.5 3.0/5 "Satisfactory"
      I have got the personal loan with the Tata capital limited and it was good one for me. I would like to say that the customer service was good one and the organization should be well defined, also they have to improve a lot in the aspects.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • Tata capital Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have applied for the personal loan from Tata Capital, i am happy that my loan application was approved and the loan amount was disbursed. The customer service and response was good, they were very helpful. I an also satisfied with the rate of interest.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 15, 2017
    • Tata capital Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I have taken my personal loan with TATA CAPITAL 15 days back. The rate of interest was 11-12% which was bit higher than other banks. The customer service and responses was good so I would like to recommend to others.. The loan amount was 1.5 lakhs and I have provided door step service for the documentation collections also. I have no idea about the pre closer and part payment options. My overall experience was good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 14, 2017
    • Tata capital Personal Loan
      "Personal loan with TATA CAPITAL"
      0.5 5.0/5 "Blown Away!"
      From TATA CAPITAL i have taken a personal loan and the disbursed loan amount was 1 lakhs 30 thousand with the rate of interest 12.75%. The monthly EMI is 3000. I am satisfied with the service and response from TATA CAPITAL. Personal loan with TATA is recommendable.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 14, 2017
    • Tata capital Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      TATA CAPITAL gave good service in regards to my personal loan disbursement. They have disbursed my loan within 3days of time. The customer service is good with TATA CAPITAL . The rate of interest is high with TATA capital when compared with others. The requested loan amount has been disbursed and I am satisfied with it.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 14, 2017
    • Tata capital Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The process was good with TATA capital personal loan application, but they have taken its very long when compared with other banks. It would be great if they can disburse my loan amount within the promised time. They have disbursed my loan amount in 3weeks of time. The rate of interest is nominal when compared with market.
      Was this review helpful? 0
      , noida
      Reviewed on Oct 14, 2017
    • Tata capital Personal Loan
      "Very good experience"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Tata Capital and it was a on time process and the rate of interest was around 12% and the processing charges was waived off. There were no hassles in the document collection too. Overall I had no issues in the after loan services.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 14, 2017
    • Tata capital Personal Loan
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      I have got the personal loan with the Tata capital limited and the experience was good one for me with them. Within three days of time the loan amount got disbursed from them, also I would like to say that its a happy moment.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 14, 2017
    • Tata capital Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      The experience was a long one with the Tata capital limited and the customer service was okay with them. I would like to say that the loan amount got disbursed within ten days of time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 13, 2017
    • Tata capital Personal Loan
      "Better service "
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from TATA capital limited for an amount of six lakhs at the interest rate of 12.17%.Executive responded on time,It got processed within a weeks time.my only concern about interest rate because they had promised to give at 11.99%later it got processed for 12.17%.Bank should be transparent about the interest rate to the customers.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 13, 2017
    • Tata capital Personal Loan
      "poor service"
      0.5 1.0/5 "Really Bad"
      I had taken a personal loan of 4 lakhs with TATA CAPITAL LIMITED nominal rate of interest.The process took so long to complete I had called the executives multiple times to resolve my issues and had written so many mails no one has reverted back over all its a .poor service I would not recommend this bank to any of them.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 13, 2017
    • Tata capital Personal Loan
      "Smooth experience and organized "
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Tata Capital limited and i can say that the the loan procedures and process was well planned and organized. I had my documents collected on time and was a smooth experience throughout the process. I also find the rate of interest nominal for the loan amount that i had applied for.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 13, 2017
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