Tata Capital Personal Loan Interest rates from 11.99% p.a

Get Tata Capital Personal Loans at interest rates starting from 11.99% to 35%. Enjoy quick disbursal, flexible EMIs, and hassle-free processing. Apply now!

Tata Capital Personal Loan Interest Rate

Personal loan at Tata Capital comes at a low rate of interest of 11.99 % per annum and levels upto 35% which varies depending on the parameters. The interest rate is determined in relation to credit standings, payment abilities, and all round creditworthiness. It should be noted that, Tata Capital offers personal loan from Rs. 40000 to Rs 35 Lakhs.

Income, employment, credit history, repayment period, and quantity of money requested influence the interest rate up. In addition to the above, Tata Capital offers special interest rates for working professionals, business people who earn their income through salaries, and those who already have a relationship with the company.

Tata Capital Interest Rate VS Other NBFCs

Factors That Drive Personal Loan Interest Rates

• Credit Score: Having a score of 750 or more means that one qualify for the lowest rate since the risk of granting a credit to the borrowers is also low while if one has a score that is less than 750, then he or she is likely to be offered higher rate of interest since the risk is higher.
• Loan Amount: Larger sums pledged can bring in a better rate if the credit profile is good because the lender has the guarantee that he is going to be paid back.
• Income Stability: Those individuals who earn monthly salaries or those who have fixed monthly income are attractive clients and can receive competitive rates as well as individuals with stable monthly income from their business.
• Loan Tenure: For instance, short term loans usually entail low interest rates because the risk incidences for the lending institution is low given the short period of borrowings.
• Current relationship: Customers having an existing relationship with Tata capital and a good repayment track record may be offered lower interest rates as a form of customer retention.
• Market Conditions: Interest rates could be affected by economic factors, and/or decisions by the RBI as lending institutions seek to standardize with market trends.

How to Get the Best Interest Rate on Personal Loans

Improve Your Credit Score: Ensure that you review your credit reports frequently and troubleshoot for errors and strive to pay your bills on or before their due dates to ensure your credit scores are above 750.

Choose the Right Loan Tenure: Choosing an appropriate tenure which has reasonable rate of interest and the amount you can afford to pay every month. Lower rates are usually the situation when the tenures are short.

Compare Rates Across Lenders: it is therefore advisable to compare Tata Capital rates with other lenders to ensure that you are charged the right amount.

Leverage Special Offers: Check whether Tata Capital offers any offer during the festive seasons, promotional offer, or even zero processing fee offers.

Market Your Economic Strength: To further prove your good repaying capacities try to include steady employment, regular income and all the other liquid assets while stating the desired rate.

Tata Capital Personal Loan Interest Rate

An EMI calculator helps you estimate your monthly repayments, making financial planning easier.

 Formula: EMI = \[P x R x (1+R)^N\] / \[(1+R)^N - 1\],

where:

P = Loan amount,

R = Monthly interest rate,

N = Loan tenure in months.

How It Works:

1. Enter the loan amount.
2. Input the applicable interest rate.
3. Choose the desired repayment tenure.

Example Calculation:

• Loan Amount: ₹3,00,000
• Interest Rate: 12.5% p.a.
• Tenure: 3 Years
• Monthly EMI - ₹ 10,036
• Total Cost of the loan - ₹ 3,61,299 (Excluding fees and charges)

FAQs About Tata Capital Personal Loan Interest Rates

1. Can I reduce my Tata Capital personal loan interest rate after disbursement?

No, the interest rate is fixed post-disbursement, but refinancing options may be explored for lower rates.

2. Is there a prepayment penalty on Tata Capital personal loans?

A maximum of 50% of the principal outstanding is allowed by way of part prepayment during a single year. A part prepayment charges of 4.5% shall be applicable on amount over and above 25% of principal outstanding and up to maximum 50% of principal outstanding

3. Does Tata Capital provide different rates for salaried and self-employed individuals?

Yes, the rates may vary based on the employer’s credit profile. If the applicant is salaried and from a reputed company, then he/she will be entitled to better rates

4. What is the Minimum salary required to avail Personal Loan from Tata Capital?

The Minimum monthly income for getting a personal loan from Tata Capital is ₹ 15,000

5. What is the processing fees for Personal Loan from Tata Capital?

Tata Capital charges upto 5.5% of the loan amount as processing fees