TATA Capital Personal Loan Approval Process

TATA Capital Personal Loan Approval Process

About TATA Capital Personal Loan

Do you require a personal loan? You’ve arrived to the right place. TATA Capital provides its consumers with a variety of incentives, offers, and low-interest deals. To understand more about the personal loan process, go to Dialabank’s official website. Dialabank is a financial service hotline that can assist you with specifics as well as the full paperwork process.

TATA Capital Personal Loan EligibilityTATA Capital Personal Loan Approval Process

Particulars Salaried Self-Employed
Age 21 – 60 years 21 – 65 years
Minimum Income Rs.15,000* Rs.5 Lakh p.a.
Co-applicant Not mandatory Not mandatory
Loan Tenure 12 – 60 months 12 – 60 months
Maximum Loan Amount Rs.40 Lakh Rs.40 Lakh
Employment Type Employees of private limited companies and public sector undertakings
Self-employed individuals
Employment/Business Continuity At least 2 years; minimum 1 year with current employer
4 years Post Qualification experience for Doctors/ Chartered Accountants.
5 years Post Qualification experience for Company Secretary / Architect.
CIBIL Score 750 and above 750 and above
Residential Status
Resident Indian staying in own house or a rented house

 

*In cities such as Kochi, Kolkata, Ahmedabad, Pune, Hyderabad, Mumbai, Chennai, Bengaluru, and Delhi the net monthly income required is Rs.20,000

*Note: The eligibility criteria vary from lender to lender.

Check Personal Loan Eligibility with Top Lenders in 2021

Bank Age Limit Minimum Work Experience
Minimum Income (Per Month)
SBI Up to 76 years NA** Rs.15,000
HDFC 21 to 60 years 2 years Rs. 20,000
ICICI 23 to 58 years 2 to 5 years Rs.17,500
Axis 21 to 60 years NA** Rs.15,000
Kotak Mahindra 22 to 55 years 1 year Rs.25,000
Tata Capital 21 to 58 years 1 year Rs.15,000
IndusInd 21 to 60 years 2 to 5 years Rs.25,000
Ujjivan Small Finance 22 to 58 years NA**
Above the minimum wage limit
India Infoline Finance Limited 25 to 60 years 6 months to 2 years Rs.35,000
HDBFS 21 to 65 years 1 year to 3 years
Rs.15,000 for salaried
Rs.1 lakh p.a. for self-employed
Indian Overseas Bank Up to 58 years NA* Rs.5,000
IDFC First Bank 23 to 68 years 3 years NA*
Federal Bank 21 – 55 Years 3 years Rs.25,000
Punjab National Bank 21 – 58 years 2 years for doctors Rs.15,000
Andhra Bank 21 – 55 years NA** NA*
Canara Bank NA** NA**
Salaried: Rs.6,000 & above
Self-employed – Rs. 1.5 lakh
IDBI Bank Up to 75 years for Pensioners NA** Rs.1.5 lakh p.a.
Fullerton India 21 to 55 years 1 to 2 years Rs.15,000
RBL Bank 25 to 60 years 1 to 3 years Rs.25,000
Bank of Baroda 21 to 60 years 1 year to 2 years
60% of gross monthly income
Deutsche Bank 25 to 60 years NA** Rs.25,000
Karnataka Bank NA** 3 years NA*
United Bank of India up to 75 Years 2 years NA*
UCO Bank 21 to 65 years 1 year to 5 years Rs.20,000

 

*Personal loan disbursal is solely at the bank’s discretion and as per the bank’s terms and conditions

Learn More about Personal Loan: Click Here

Documents Required for TATA Capital Personal Loan

List of Documents Required for Salaried Applicants

Salaried individuals must submit the following documents in addition to a completed personal loan application form:

Photo Identity Proof (Any one) Passport
PAN Card
Voter’s ID
Aadhar Card
Driving License
Address Proof (Any one)
Passport
Utility Bill (telephone, electricity, water, gas) – less than 2 months old
Aadhaar Card
Driving License
Ration Card
Income Proof
Salary slips (Last 3 months)
Bank statements for the last 3 to 6 months (showing salary credit)
Tax Paid (Any one
IT returns (for 2 years)
Form 16
Residence Ownership Proof (Any one)
Property documents
Maintenance bill
Electricity bill
Proof of Job Continuity (Any one)
Current employment certificate
Current job appointment letter (if more than 2 years have been spent in the same organisation)
Experience certificate (previous employer’s relieving or appointment letter along with job certificate)
Proof of Investment (if any)
Fixed assets, fixed deposit, shares, etc.
Existing Loans (if any)
Payment Track Record & Sanction letter
Photograph
One coloured passport size photograph

 

List of Documents Required for Self-employed Applicants

Self-employed personal loan applicants must submit the following documents in addition to a fully completed loan application form:

Photo Identity Proof (Any one) Passport
PAN Card
Voter’s ID
Aadhaar Card
Driving License
Address Proof (Any one)
Passport
Aadhaar Card
Driving License
Utility Bill (telephone, water, electricity, gas) – less than 2 months old
Ration Card
Proof of Residence Ownership (Any one)
Property documents
Maintenance bill
Electricity bill
Proof of Office Address and Ownership (Any one)
Maintenance bill
Property documents
Electricity bill
Proof of Business Existence (Any one)
Copy of GST registration
Company registration license
Shop establishment proof
Income Proof
Last 2 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
Audited balance sheet and Profit & Loss accounts, including tax audit report, if applicable
Bank statement
Savings/current account bank statement/ bank passbook for the past one year
Proof of Investment (in case any)
Investments such as fixed deposit, fixed assets, shares, etc.
Existing Loans (in case any)
Payment Track Record and sanction letter
Professional Degree Certificate
In case of professionals
Photograph
One coloured passport size photograph

 

List of Documents Required for NRI Applicants

When applying for a personal loan, NRI candidates are typically required to submit the following documents:

Identity Proof Copy of the passport
Copy of the visa
Employment Proof Letter of Appointment
Job contract
Labour/ Identity card (if applicable)
Official email ID or the HR’s email ID
Income Proof Last 6 months’ bank statements
Last 6 months’ salary slips or salary certificate
Photograph Passport size photographs

 

List of Documents Required for Pensioners

When applying for a personal loan, a pensioner must submit the following documents:

Identity/Age Proof (Any one)
Ration card
Passport
PAN card
Aadhar card
Voter ID card
Driving licence
Birth certificate
School leaving certificate
Address Proof (Any one) Passport
Aadhaar card
Utility bills
Ration card
Driving licence
Income Proof (Any one)
Last 6 months’ bank statements/salary slips
Bank passbook
Form 16
Copy of pension payment order
Income tax returns
Photographs
Passport size photographs

 

Know More About: Personal Loan Eligibility Criteria

TATA Capital Personal Loan Approval Process

Once you filled in your loan application and submitted it to the bank, there is a certain approval process that needs to be fulfilled:

  • The bank will examine your salary deposits, bank statements, and any other financial documents you provide.
  • Depending on your application, the bank will verify your identity documents.
  • Your creditworthiness will next be determined by the lender using your CIBIL credit score.
  • If your credit score is below 750, your loan application may be denied; therefore, your credit score should be at least 750.
  • Your credit score is important since it determines your eligibility for a loan, and a high score boosts your chances of acquiring one.
  • Your credit score, annual income, age, and other factors will influence the length of your loan and the amount you borrow.
  • Your loan and the amount will be granted based on all of these factors.

Steps to Apply for TATA Capital Personal Loan

Here are the steps on how you can apply for a Personal Loan in TATA Capital:

  • There are two ways to apply for a personal loan: online or in person. For the online method, go to Tata Capital’s official website. If you are unable to apply online, visit your local location of the bank.
  • When you arrive at the nearest branch, the salesperson will explain the loan rates, eligibility, terms, processing costs, and other terms.
  • Now you must fill in all of the personal, professional, and financial information requested by the lender, and then submit the form.
  • The bank will review the information you’ve provided, including your eligibility and available funds, after you’ve submitted the form.
  • If your application is approved, you will be asked to submit the necessary documentation. It’s also possible to post it on the internet.
  • Your documents will then be processed by the bank. After the loan has been approved, the funds will be transferred to your bank account immediately.

TATA Capital Personal Loan Approval Process FAQs

✅ What is the minimum age requirement to apply for a TATA Capital personal loan?

To apply for a personal loan with TATA Capital, you must be between the ages of 21 and 58.

✅ What actions does a person need to take to avoid being turned down for a personal loan?

For a variety of reasons, a personal loan application may be denied. To prevent getting turned down for a personal loan, make sure you fulfil the eligibility requirements, which include income, age, and a good CIBIL score, and present all necessary paperwork and verification evidence, such as proof of residency and proof of income.

✅ Is it possible for a couple to apply for a personal loan together?

Yes, personal loans can be taken out with or without the help of a co-applicant. On the other hand, the co-applicant must be a member of your family. For example, it could be your parents or spouse.