Today every individual need financial assistance to meet the requirements like medical emergency, marriage, vacation trip, debt consolidation, and other expenses. The applicant has to check the eligibility criteria to apply for financial help from any financial institutions or NBFCs, and the lender gave you the flexibility to spend the loan amount for any purpose. Furthermore, as finance is required at any time to meet the contingency, it is a hassle-free process of taking an instant personal loan through TATA Capital.
 

What is Personal Loan?

Personal loan is an unsecured loan taken by individuals from a bank or a non-banking financial company (NBFC) to meet their particular needs. It provides based on income level, credit and employment history, repayment capacity, etc 

Why should one choose TATA Capital Personal Loan?

  1. Low processing charges
  2. Less documentation
  3. Quick and risk-free
  4. No cosigner required
  5. Affordable interest rates
  6. Collateral free Loan
  7. Easy and instant personal loan.

TATA Capital Personal Loan Eligibility

There are two categories of applicants:

  1. Salaried
  2. Self-employed

There are different eligibility criteria for both applicants.

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Salaried Applicant:

  1. The minimum age of the applicant should be 21 years and maximum of up to 60 years.
  2. If the applicant is residing in a metropolitan city, then they should have a minimum income of Rs 18,000. And if the person is from a non-metropolitan city, then they should have a minimum salary of Rs 12,000.
  3. The applicant should have the work experience of the last three years, and the salary should come in their account only.
  4. The applicant should have a good credit score, and it should be more than 700.
  5. The applicant has to submit their bank statement for the last three months and the salary slip of the last six months.

Click here to know more about- Salaried Applicant

Self-employed Applicant:

  1. The minimum age of the applicant should be 25 years and maximum up to 65 years.
  2. The applicant should file ITR for the last three years.
  3. The credit score of the applicant should be good, and no debt should be left due.
  4. The ITR should be of Rs. 2.5 Lakhs per annum at least.
  5. If the applicant has a business than his business should be running from the last three years.

 Click here to know more - Self-employed Applicant

TATA Capital Personal Loan Documents

Salaried Individual

Self Employed People

Latest 6-month bank statements

Latest 6-month bank statements

Last 2-months’ salary slips

Last 2 years Balance Sheet

Last 3 year Form 16

Last 3 Years ITR

Photocopy of Pan Card

PAN Card photocopy

Residence & Address Proof

Residence & Address Proof

2 passport size photographs

2 passport size photographs

 

 

 

 

 

 

 

 

 

 

TATA Capital Personal Loan Interest Rate

Interest rates start at 11.75% and can be up to 18% per annum.

More About: Interest Rates on Personal Loan

TATA Capital Personal Loan Benefits

  1. Firstly, interest rates are quite affordable.
  2. Thus, you can quickly repay your loan amount.
  3. Secondly, this loaning scheme is unsecured.
  4. Which results in no requirement of collateral
  5. Furthermore, both salaried and self-employed individuals can take benefits from this loan.
  6. Moreover, In this loan, the principal amount is entirely dependent on the borrowers submitted documents.
  7. If your CIBIL or credit score is right, you can get the instant personal loan.

How to Apply for TATA Capital Personal Loan?

It is effortless to apply for a personal loan; all you need to do is follow these steps, and you will be done in no time. Now, once you are on our site, you need to provide your necessary details along with your phone number.

  1. First, you need to go to our website www.dialabank.com
  2. Please, it is essential that you provide your correct contact details.
  3. Now once you filled the form all your work is done.
  4. Our relationship managers will call you within 30 minutes and provide you the best of offers and deals that you can get near your location.
  5. Also, you don’t have to worry about paying us anything as we provide our expertise to you at free of cost.

About TATA Capital Personal Loan

TATA Capital is a non-banking financial organization that provides you with a personal loan. But the applicant’s age should be more than 25 years, and if he is earning good money, then he is eligible to get this loan. Recently the company has launched an online app to apply for a loan, and besides that, they will gather information about you from social networks like Facebook, LinkedIn. This company can provide loan up to 25 Lakhs and you can get hassle-free instant personal loan through TATA Capital Personal Loan.

Personal Loan Interest Rates: Updated

When we go to take a loan from the bank, our primary concern is the rate of interest being charged by the banks on the loan amount. So let’s have a look at the interest rate of all the banks for personal loan.

Bank

Interest Rates

HDFC Bank

 10.99% to 18%

ICICI Bank

13.99% to 18%

Fullerton India

17.25% to 32%

Bajaj Finserv

13.99% to 16.75%

Axis Bank

15.50% to 24%

Standard Chartered Bank

15.75% to 22%

Kotak Mahindra Bank

13.75% to 19%

Andhra Bank

13.50% to 22%

Bank of Baroda

13.50% to 19%

Vijaya Bank

13.75% to 22%

Corporation Bank

14.50% to 20%

Allahabad Bank

13.70% to 20%

 
Q. Who can apply for a Personal Loan?
A: Anyone who is an employee of a company or owns a company can take a Personal Loan. 
 
Q. Does only a bank provide Personal Loan?
A: When a person is not able to get a loan from any bank due to any reason, then NBFCs come into play. They provide financing to people who need immediate money and fail to get a loan from the bank.
 
Q. How can I apply for a Personal Loan?
A: Anyone who needs finance can go to the nearest bank branch, meet their customer relationship executives and ask them to help you get a loan or you can fill a form online on our website, and get in touch with one of our customer relationship managers who will give you the right knowledge.
 
Q. For how long does a Personal Loan last?
A: Personal loans have a minimum tenure of 1 year that goes up to a maximum tenure of 5.It is an easy and instant personal loan approval.
 
Q. Are there any other charges included for a Personal Loan?

A: Pre-closure amount: Banks charges 4% of the loan amount if you want to pay all the money back to the bank before the tenure of the loan to get rid of the interest rates and hence close your loan account. 

    Processing Fee: Every bank charges some fee while sanctioning of your loan amount. Banks have different processing fees depending on your bank type and your loan amount.

Q. How do I avoid rejection for my loan?
A: Make sure that all your ID proofs and documents are well verified and accurate before the bank’s verification. Your history is being checked by the bank officials that where else have you applied for a loan or are there any rejections, is so then why.
 
Q. What if I’m not able to repay the loan amount?
A: If a person fails to repay the amount of loan, then he is charged with penalties and a higher rate of interest, but no one can arrest in this case. Your CIBIL score is affected a lot. So try to make monthly payments on time.
 
Q. Can I return the money to the bank all at once?
A: Yes, of course, you can. When you have sufficient money in your savings then surely you have the right to repay all the amount in one go only. But the bank will charge some amount of interest on the loan amount that you have taken from the bank, which is called pre-closer charges.
 
Q. How is interest on personal loan calculated?
A: To calculate personal loan interest rate you can use Personal Loan EMI Calculator.
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Q. How important is to maintain your CIBIL score?
A: It is a vital part of loan processing. Your CIBIL score checks every time you want to opt for a loan. The main reason behind the idea of checking the CIBIL Score is that the bank wants to be sure about your financial stability.