Tata Capital Car Loan Eligibility Calculator

1. Income level (higher income = larger loan eligibility)
2. Credit score (CIBIL score 750+ preferred for best rates)
3. Existing debts (lower debt-to-income ratio improves eligibility)
4. Loan tenure (shorter tenures may increase eligible amount)

Tips to Improve Eligibility:

1. Add co-applicant (spouse/parent) to combine incomes
2. Clear existing debts to improve debt-to-income ratio
3. Maintain CIBIL score >750 through timely payments

Tata Capital Car Loan Eligibility Factors

Key Eligibility Criteria:

1. Income Requirements:
   1. Salaried: ₹2.5L+ annual income
   2. Self-employed: ₹2L+ annual income
2. Credit Health:
   1. Minimum CIBIL score 650 (750+ preferred)
   2. Lower existing debts improve approval chances
3. Age Limit: 21-65 years (at loan maturity)

CIBIL Score Impact:

1. Scores range 300-900 (higher is better)
2. Timely payments improve scores
3. Defaults negatively affect eligibility
4. Good scores (750+) secure better interest rates

Ways to Boost Eligibility:

• Add Co-applicant: Combine incomes with spouse/parents
• Reduce Debt: Clear existing loans/credit cards
• Improve Credit Score:
  • Pay bills on time
  • Maintain credit utilization below 30%
  • Correct errors in credit report
• Offer Collateral: Secure better terms with asset backing

Tata Capital Car Loan Eligibility Calculators

Tata Capital has an intelligent calculator on their official website which helps you easily determine whether you are eligible for a loan or not.

1. To use their calculator, access their website.
2. Under car loans, select your choice of new car or used car.
3. Find the tab "Check eligibility".
4. Input your details such as income type, yearly income, car model and version and your city.
5. The calculator will generate results which give you a clear picture of the loan you are eligible for. You can view your estimated down payment, loan amount and tenure.

The calculator generates results of your EMI and repayment structure under all the schemes they provide so that you can also compare the different schemes to choose one that suits you the best.

A good credit score can help you secure lower interest rates on loans and credit cards.

Get Free Credit Score