TATA Capital Car Loan Approval Process

TATA Capital Car Loan Approval Process

TATA Capital Car Loan Features

 

TATA Capital Car Loan Approval Process

Tata Capital Limited is a financial and investment company in India. The company has its headquarters in Mumbai and has more than 100 branches across India. The company offers consumer loans, wealth management, commercial finance, and infrastructure finance, and several other financial services.

  1. The age of the applicant must be between 21 and 65 years.
  2. A salaried employee should have a minimum income of Rs 20000 per month and a self-employed individual should have a minimum yearly income of Rs 2,00,000.
  3. The applicant must have a stable status of employment for at least 1 year or stable business status for at least 3 years.
  4. The processing fee is 1.75% of the loan amount.
  5.  On select cars, the bank finances 100% value of the car.

TATA Capital Car Loan Eligibility

TATA Capital Car Loan Documents Required

TATA Capital Car Loan Approval Process

TATA Capital Car Loan Approval Process is instant and free of hindrances –

  1. Visit the financial institution’s official website or open their netbanking app.
  2. Under the loans menu, click on ‘vehicle loan’.
  3. Then, fill the application form and read all documents carefully.
  4. The financial institution’s representative would get in touch with you.
  5. Next, submit your documents for verification purposes.
  6. Once, all procedures are completed, if all the eligibility criteria are met, the loan is approved.
  7. On approval, the loan amount is deposited in the borrower’s account within 24 hours.

A borrower can also visit the bank’s branch office and apply for a car loan offline too. The borrower can opt for online or offline ways, as per their comfort.

FAQs on TATA Capital Car Loan Approval Process

✅ What documents can be submitted as residence proof?

Documents such as an AAdhar card, passport, ration card, utility bills, bank statements, etc., can be used as residential address proof. Visit Dialabank for more information.

✅ How much credit score is considered sufficient?

Generally, a credit score of 750 and above is considered good for a car loan.

✅ How can I check my EMI?

Applicants can check their EMI before applying for a car loan by using a loan calculator which is usually available on the lender’s website.