Tata Capital offers home loans up to Rs 5 crore at an interest rate of 6.90% p.a. Loans are provided up to 80% of the value of the house or property you want to buy. Tata Capital has been providing home loans for over 30 years. Tata Capital Home Loan processing fee starts from 0.5% and lowest EMI of Rs.1 lakh is Rs.659.
Benefits and Features of Tata Capital Home Loan
Tata Capital Home Loan has the following features and benefits:-
- Loan Amount: Loan up to 80% of the value of the house or property will be available to the buyer, can take from Rs 5 lakh to Rs 5 crore.
- Interest Rate: The interest rate of Tata Capital Home Loan starts from 6.90% p.a and depends on your CIBIL score and income.
- Loan Repayment Tenure: The maximum repayment tenure is up to 30 years.
- The processing fee of Tata Capital Home Loan is very low, ranging from 0.5% to 2.0% of the loan amount.
- Expected Minimum EMI: Rs 659 per lakh
Complete Details of Tata Capital Home Loan
The salient features of Tata Capital Home Loan are given in the table below:-
|loan amount||Up to 80% of the total value of the home to be purchased|
|Rate of interest||6.90% or more|
|repayment period||up to 30 years|
|Possibly lowest EMI||Rs.659 per lakh|
|processing fee||0.5% to 2.0% of the loan amount + GST|
Following are some of the key benefits of applying for Tata Capital Home Loan:-
- Various types of loan schemes: Loans can be taken up to Rs 5 crore for resident Indians and up to Rs 10 crore for non-resident Indians i.e. NRIs.
- Tata Capital Home Loan is available for purchase/construction/repair of flat or house.
- The process of availing a home loan is very quick, easy and hassle free.
- Customer care support is provided throughout the process.
- There are also a variety of repayment options such as Step Up EMI, Fixed EMI or Floating EMI option.
- Easy balance transfer and top up offer is also offered.
- If the loan amount is more, then a co-partner can also be added.
- Multiple repayment options are available like post dated cheque, Electronic Clearance Service (ECS), deduction on salary and auto debit.
- Hassle free application process.
- No foreclosure fee is charged.
What is the eligibility criteria for Tata Capital Home Loan?
The eligibility criteria for Tata Capital Home Loan is mentioned below:-
- The applicant should be at least 24 years of age at the time of applying for the home loan. The maximum age should not be more than 65 years at the time of completion of Tata Capital Housing Loan.
- The minimum income of the person taking salary should be Rs 30,000 per month and should have at least 2 years of work experience. if currently any
- If the company has been joined, then at least 6 months should be with that company.
- Those who have their own business should have minimum 3 years experience in their field.
What is the interest rate of Tata Capital Home Loan?
The interest rate of Tata Capital Home Loan varies according to the upcoming plan.
|Customer Profile||Rate of Interest (%)|
|salary takers||over 6.90%|
|own business||over 6.90%|
Home Equity (Proprietorship)
|customer profile||Rate of Interest (%)|
|Salary Individual / Own Business||more than 10.10%|
Processing and other charges of Tata Capital Home Loan
Following are the various charges applicable for Tata Capital Home Loan:-
|processing fee||0.5% to 0.2% of the loan amount + GST|
|prepayment fee|| |
|Late Payment EMI Fee||Delay in EMI attracts a fee of 2% at the current rate.|
|foreclosure fee||Zero |
Note:- There is no fee charged for foreclosure of home loan if you pay with your own money. If you use someone else’s money for foreclosure, a foreclosure fee of 2% will be charged.
|CERSAI Fee||Rs 50 for loans up to Rs 5 lakh; Rs 100 for amounts above Rs 5 lakh, to be collected during loan closure.|
|collection agency||according to actual|
|legal fee||Loan Cancellation, Bounced Cheque, Rejection of ECS, PDC Swapping and Account Maintenance.|
|Other parameters||Rs.500 per instance|
The fee charges mentioned above are excluding any government fees, cess, levy etc. They are subject to change at the sole discretion of Tata Capital Limited.
Documents Required for Tata Capital Home Loan
Documentation for applying for Tata Capital Home Loan depends on your job profile. The required documents are as follows:-
|Document type||Required Documents|
|Age proof (any of the above)||Passport/PAN Card/Driving License/Birth Certificate/Life Insurance Policy/School Leaving Certificate|
|Photo ID Proof (Any one)||Passport / Voter ID / Driving License / PAN Card / Aadhar Card|
|Address Proof (Any one)||Electricity or gas bill / property registration document / bank statement / property tax receipt / voter ID card|
|proof of salary|| |
|other documents|| |
|business proof for business people||A copy of the Business Profile / Business Commendation Registration Certificate of the IT applicant for the last 2 years on letterhead|
|Income Proof for Self Employed||A copy of Profit and Loss Projection Statement / Bank Statement for the last 3 years of CC or OD facilities / Current Account Statement for the last 6 months|
Tata Capital Home Loan Schemes
Tata Capital has several other funding options available for your home, including:
Tata Capital Rural Housing Finance
This loan is provided to applicants to buy a house in rural areas including Tier 2 and Tier 3 cities.
Rural housing finance scheme allows purchase of existing property and construction or purchase of new property.
Tata Affordable Housing Finance – Prapti Home Loan
Affordable housing finance is provided through Prati Home Loans under the Pradhan Mantri Awas Yojana.
You can get interest rates as low as 4%.
The loan is available for people with an annual salary of Rs 6 lakh or less.
This housing finance option is available in Tier 2 and Tier 3 cities, semi-rural areas and even the urban poor.
Tata Capital Urban Housing Fund
The objective of the scheme is to improve loan availability and improve home financing needs of individuals belonging to lower and middle class income groups.
Tata Capital Switching and Refinancing
Home loans taken on a long-term basis are subject to change as per the market dynamics, leading to changes in the interest rate as well.
Applicants may also see an improvement in income during the tenure of the loan.
Tata Capital Refinance allows you to choose the option of increasing or decreasing the interest rate as per your current financial position.
You can also choose to increase the EMI and reduce the payment made towards the interest portion of your existing home loan
How much Home Loan Against My Property (LTV) can I get from Tata Capital?
Home loan is a secured loan where the home buyer for which you are applying for the loan is considered as the loan security or guarantor. Therefore, along with the value of the property, marketability is also an important eligibility factor for the loan amount. Each lender provides a percentage of this property value to finance the purchase of a property and this is called the Loan to Value (LTV) ratio. The remaining amount has to be paid by the applicant as margin or down payment. The maximum LTV for Tata Capital Home Loan is 80% of the property value.
How to Calculate Tata Capital Home Loan EMI?
You can use the Tata Capital Home Loan EMI calculator made by us. Enter the offered interest rate, tenure and loan amount on the calculator. Based on the details entered, the EMI is calculated instantly.
Tata Capital Home Loan EMI Calculation
|loan amount||for a period of 10 years||for a period of 20 years||for a period of 30 years|
|20 lakh rupees||Rs 23,119.00||Rs 15,386.00||Rs 13,172.00|
|30 lakh rupees||Rs 34,678.00||Rs 23,079.00||Rs 19,758.00|
|40 lakh rupees||Rs 46,237.00||Rs 30,772.00||Rs 26,344.00|
|50 lakh rupees||Rs 57,797.00||Rs 38,465.00||Rs 32,930.00|
|60 lakh rupees||Rs.69,356.00||Rs 46,158.00||Rs.39,516.00|
Tata Capital Home Loan Customer Care Number
For any query or complaint, you can call on Tata Capital Toll Free Number: 1800-209-6060. This number is available from Monday to Saturday from 9 am to 8 pm. It is closed on Sundays and public holidays.
Tata Capital Registered Office
11th Floor, Tower A, Peninsula Business Park, Ganpatrao Karam Marg, Lower Parel, Mumbai- 400013.
Email ID : email@example.com
Customercare@tatacapital.com (Only for existing customers)
You can also request a call back on the official website www.tatacapital.com.
Frequently Asked Questions (FAQs) related to Tata Capital Home Loan
Question: What is the maximum loan amount that can be availed from Tata Capital Housing Home Loan?
Answer: One can get up to 5 crores as home loan from Tata Capital Housing. However, the maximum loan amount cannot exceed 80% of the market value of the property.
Question: Who can be a co-applicant with Tata Capital Home Loan?
Answer: You can include your parents, spouse, siblings and children as co-applicants for the home loan. The total salary or monthly income of all the applicants will be considered for assessing home loan eligibility.
Question: Can prepayment be made on Tata Capital Home Loan?
Answer: You can prepay up to 25% of the outstanding amount in a given year. If the prepayment amount exceeds this limit, 2% of the amount paid in excess of the limit is charged.
Question: Are there any foreclosure charges on Tata Housing Home Loan?
Answer: There is no foreclosure charge on Tata Housing Home Loan.
Question: What is the maximum repayment tenure on Tata Capital Home Loan?
Answer: You can take a repayment tenure of up to 30 years. The loan maturity age of the applicant should not exceed 65 years.
Question: Who is eligible for Tata Capital Home Loan?
Answer: Individuals above 24 years and below 65 years of age are eligible to avail these loans. The loan is available for self-employed, salaried individuals and NRIs with sufficient income available for the selected scheme.
Question: What are the repayment options available for Tata Capital Home Loan?
Ans: You can opt for ECS, PDC, auto-debit or even link your salary account for automatic repayment of your EMIs.
Question: What is the penalty for late EMI on Tata Capital Home Loan?
Answer: A penalty of 2% is levied at the current rate for the period of delay.