Tata Capital Business Loan Interest Rate Feb 2019
Tata Capital Business Loan Interest Rates India
Tata Capital offers Business Loan starting at interest rate of 18.00%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers
| Loan for Self Employed | Features |
|---|---|
| Processing Fee | From 1.50% to 2.50% |
| Tenure | From 12 months to 48 months |
| Lowest EMI per lakh | Rs. 2,938 |
| Loan Amount | Min Rs. 5 Lakh and Max Rs. 50 Lakh |
| Part Prepayment, Charges | Not allowed |
| Early Foreclosure, Charges | Allowed after 6 EMI's, 4.5% of outstanding balance |
No collateral or guarantor required
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Tata Capital Business Loan
Tata Capital offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from Tata Capital:
- No collateral or guarantor required
- Flexible repayment options of Step up, Step down and Bullet EMI plan
- Competitive interest rates
- Simple documentation and quick loan disbursement
- You can foreclose your entire Business loan anytime after paying 6 EMI's at foreclosure charges - 4.5% of outstanding balance
Tata Capital Business Loan Interest Rate Calculator
There are multiple factors on which basis bank calculates your interest rate. Some of these factors are -
- Loan amount: Business loan rate in Tata Capital depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum Rs. 5 Lakh to upto Rs. 50 Lakh. Interest rate for high loan amount can be lower resulting in lower EMIs.
- CIBIL Score: Tata Capital offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from Tata Capital, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
- Revenue: Tata Capital will offer you loan at lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least Rs. 1 Cr.
- Time in Business: Tata Capital offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from Tata Capital is 60 months.
Tata Capital Eligibility Criteria
Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are:
| Eligibility Criteria | Description |
|---|---|
| Age: | 25 to 65 years |
| Minimum Turnover | Rs. 1 Cr |
| Business Existence (in months) | 60 months |
| ITR (months) | 24 months |
| Loan Amount | Rs. 5 Lakh to Rs. 50 Lakh |
| Loan Tenure | 48 months |
| Owned House or Place of Work | Required |
| CIBIL Score | 750 and above |
Tata Capital Business Loan Eligibility Calculator
Eligibility of Business loan in Tata Capital relies on two important factor:
1.Your ability to repay the loan and
2.Your past track record in repayment of loans.
The main factors on which the eligibility of an applicant depends are
- Age: Age plays an important role to know your eligibility and repayment capacity. Tata Capital offers loan to those who are at least 25 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
- Loan Amount: Based on the loan amount eligibility, bank gives you loan ranging from Rs. 5 Lakh to Rs. 50 Lakh. To improve chances of approval, apply for a loan amount that you can comfortably service.
- Profitability and Revenue: Loan eligibility significantly depends upon profitability on your turnover, revenue and profitability. Tata Capital requires profit for minimum 2 years and minimum business turnover of Rs. 1 Cr.
- Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Tata Capital requires minimum business track record of 60 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get loan.
- ITR and Banking: Bank gives loan only after checking your income tax return and bank statements. Your ITR details for minimum 24 months and bank statement for minimum 6 months will be required by Tata Capital.
- CIBIL Score: When checking loan eligibility, Tata Capital will look at the complete CIBIL report. Tata Capital will check your repayment history for all current and past loans and credit cards. Bank advise you to maintain a score of 750 and above to get loan approval.
Tata Capital Business Loan EMI Calculator
Tata Capital Business Loan EMI is a fixed amount that you pay each month towards the repayment of your loan till the end of tenure. Lowest EMI offered by Tata Capital is Rs. 2,937 per lakh loan amount. EMI of Tata Capital depends on factors like:
- Interest Rate: Higher the interest rate, higher will be the EMI. For a 48 months loan from Tata Capital at an interest rate of 18.00% per annum, EMI will be Rs. 2,937 per Rs. one lakh loan amount. At an interest rate of 23.00% for the same loan, the EMI will be Rs. 3,205 .
- Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 18.00% per annum, the EMI on Tata Capital business loan would range from Rs. 9,168 to Rs. 2,937 for loan tenure ranging from 12 to 48 months.
- Amount Borrowed: Tata Capital Loan EMI will be high if you apply for a high loan amount. For amount borrowed Rs. 5 Lakh, the EMI at 18.00% for 48 months would be Rs. 14,687 . Similarly for amount borrowed Rs. 50 Lakh, the EMI at 18.00% for 48 months would be Rs. 1.47 Lakh.
- Business loan EMI calculator of Tata Capital helps you to calculate your monthly EMI at different rate of interest
- Tata Capital EMI calculator helps you to know your capacity to repay the loan after meeting your regular monthly expenses
- You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
Tata Capital offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:
Description
- Individuals who are salaried or salaried cum self employed can take this loan
- Maximum loan limit of Rs. 35 lakhs for self employed and Rs. 20 lakh for salaried
- Flexible repayment tenure of 4 years
- Loan for Graduate and Post Graduate Doctors who wants to expand their business in medical.
- No collateral required
Who is eligible?
- Doctors need to be registered with Medical Council of India and in case of doctors who have foreign degree, they need to submit additional qualification certificate to practice in India
- Doctors graduate as MBBS, BDS and post graduate as MD, DM, MS, MCH, MDS
Description
- Get loan for maximum 36 months
- Loan can be taken for loan amount between Rs. 3 lakhs and Rs. 10 lakhs
- Property ownership is mandatory to get this loan
- To fulfil day to day working capital requirements or to enhance their business.
- No collateral required
Who is eligible?
- Applicant must have business existence of 5 years, bank statement of 6 months and ITR of 2 years
- Self employed businessmen who are involved in business of trading
In addition to interest rates, business loan also carry some other charges which include:
- Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Tata Capital allows prepayment of loan after paying 6 EMI’s with prepayment charges - 4.5% of outstanding balance
- Processing Fee- Tata Capital asks for a processing fee of From 1.50% to 2.50% with applicable service tax
- Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
- Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
- Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
- Copy of Income Tax PAN for 24 months
- Bank statement of last 6 months
Compare Tata Capital Business Loan with other banks
- Allahabad Bank
- Andhra Bank
- Bajaj Finserv
- Bank of Baroda
- Bank of Maharashtra
- Capital First
- Citibank
- Corporation Bank
- DCB Bank
- Dhan Laxmi Bank
- Fullerton India
- HDFC Bank
- ICICI Bank
- IDBI Bank
- IDFC Bank
- IIFL
- Indian Overseas Bank
- IndusInd Bank
- Kotak Bank
- Lendingkart
- Neogrowth
- OBC
- PNB
- RBL Bank
- SBI
- Syndicate Bank
- Tata Capital
- United Bank of India
- Yes Bank
FAQs on Business Loan Tata Capital
Bank offers loan at 18.00% rate with the lowest EMI of Rs. 2,937 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to Tata Capital.
What is the interest charged on Tata Capital business loan?Interest rates on Business loan in Tata Capital are very attractive starting from 18.00% to 23.00%. Bank offer various offer for self employed professionals to get loan at very low rate of interest.
What is the lowest EMI per lakh on business loan from Tata Capital ?If you apply for loan from Tata Capital, your lowest EMI per lakh will be Rs. 2,937 .
What is the minimum and maximum tenure of business loan in Tata Capital?These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum 48 months.
How much business loan amount I can borrow from Tata Capital?Tata Capital offers you loan if you need a minimum amount of Rs. 5 Lakh to a maximum amount of 50 Lakh.
What is the processing fee charged by Tata Capital on business loan?Tata Capital charges a processing fee of From 1.50% to 2.50% with applicable tax.
Is age an eligibility factor to get loan for business from Tata Capital ?Yes, age is an important eligibility factor to get loan as you should be at least 25 years old at loan approval time and 65 years old at loan maturity time.
What are the prepayment charges on business loan from Tata Capital?Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by Tata Capital is 4.5% of outstanding balance .
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