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Tata Capital Personal Loan Balance Transfer

Online Personal Loan Balance Transfer to Tata Capital

Last Updated 11th Nov 2021

  • Tata Capital Personal loan balance transfer is the process of transferring the outstanding balance from an existing bank to Tata Capital.
  • Avail top up from Tata Capital at the time of loan balance transfer to fulfil additional fund requirements.
  • Tata Capital offers attractive interest rates, top up facility and many more benefits on balance transfer.
  • Compare Tata Capital Personal Loan Balance Transfer offers with different banks to choose the right option.
Interest Rate 11.25% Check Best Offers
Processing Fee Upto 2.50% of Loan Amount
Lowest EMI per lakh ₹ 2,187
Loan Tenure 6 years
Calculate Savings, Check Best Offers Get upto ₹ 1,000* Cashback

Tata Capital Personal Loan Balance Transfer

Tata Capital Personal loan balance transfer is a situation where you can transfer transfers outstanding principal of personal loan from another bank to Tata Capital to reap the benefits of better interest rates, extended loan tenure, augmented loan amount and various other features.

Balance transfer is also referred to as refinancing. The interest rates on Tata Capital balance transfer ranges from 11.25% to 17.99%, while the repayment tenure ranges between 12 Months to 72 Months.

Tata Capital Personal Loan Balance Transfer Calculator

You must take the decision of transferring the personal loan to Tata Capital keeping in mind the interest rate of the current Bank and Tata Capital. Further, the balance transfer charges, EMI paid and the profit incurred due to the balance transfer must be considered. Therefore, you should proceed with the Tata Capital balance transfer only when the gains due to balance transfer are higher than the cost incurred due to the same.

Tata Capital Personal loan balance transfer calculator is an online calculator that helps you determine the savings on your EMI and interest payable. You are required to enter the information such as the entire loan amount, interest rate in current and potential bank, overall tenure of the loan and no. of EMIs already paid to the existing lender to calculate the savings on EMIs. You can also calculate balance transfer personal loan eligibility at MyLoanCare and identify offers with lower personal loan rates in comparison to current rates you are paying.

Benefits of Transferring Personal Loan to Tata Capital

The benefits of transferring the Personal loan to Tata Capital are as follow:

  • Tata Capital offers a lower interest rate on personal loan balance transfer. Lower interest rates will help you reduce the interest burden.
  • Tata Capital Balance transfer offers you the opportunity to negotiate the tenure of the loan according to your requirements. A longer loan tenure will reduce the EMI burden whereas shorter long tenure will help to reduce the interest burden.
  • Balance transfers also provides you the facility to avail the top-up facility and fulfil your cash requirement.
  • There are chances that you might not be satisfied by the services offered by your existing bank. In that case, you can transfer your personal loans to the Tata Capital and avail better facilities.
  • Tata Capital offers additional features like waiver of last EMI, zero processing fees, lower interest rates, etc depending on past repayment history and income.

Tata Capital Eligibility Criteria and Documents Required

The eligibility criterion of the Tata Capital is mainly dependent upon the repayment history, CIBIL Score and income. Some basic eligibility criterion is mentioned below:

  • Any salaried and self-employed professional above the age of 21 years.
  • Your Maximum age must not exceed 65 years.
  • You should have a personal loan in another bank.
  • Your minimum work experience must be of 2 years.
  • CIBIL score must be at least greater than 700.

Documents required are as follow:

Salaried Individuals
  • Identity proof : Aadhar, Driving license, Passport
  • Address proof : Electricity bill, Aadhar, Voter ID
  • PAN Card
  • Salary slips for past 6 months
Self Employed
  • Last 3 years balance sheet
  • P and L account statements
  • TAN Card
  • Last 6 months current account statements
  • Applicant’s savings account statements

Compare Tata Capital Personal Loan Balance Transfer with Other Banks

Comparison on the basis of interest charged on balance transfer of the different banks is given below:

Bank Name Minimum Rate Processing Fees
ICICI Bank 10.75% Upto 2.25% of Loan Amount
SBI 9.60% 1.00%
Axis Bank 10.25% Upto 1.75%,Min Rs.3,999
Kotak Bank 10.45% Starting from Rs.999
Standard Chartered Bank 11.50% 1.00%
Bajaj Finserv 12.99% Starting from 1.50%, Up to 3%
Bank of Baroda 10.50% 2%, Min Rs. 250
Yes Bank 10.70% Upto 2.50%
IDFC First Bank 10.49% Upto 2.00%

Compare Tata Capital Personal Loan with Other Banks

FAQs

How can I transfer my personal loan to Tata Capital?

Steps for the balance transfer to Tata Capital are : (i) Apply for the foreclosure letter and No Objection Certificate (NOC) from the existing lender. (ii) Start the Tata Capital personal loan transfer process and submit all the relevant documents and repayment history of the loan. (iii) After getting the sanctioned letter from the Tata Capital, sign the loan agreement with the bank. (iv)Take a disbursement of the outstanding loan amount from Tata Capital in favour of the earlier lender. (v) Once the previous lender receives the outstanding loan amount, it will cancel all the cheques and close your personal loan account.

How do I check my Tata Capital personal loan balance?

You can check your personal loan balance of Tata Capital in below-mentioned ways: (i) By visiting the Tata Capital branch. (ii) By calling the customer care of the Tata Capital. (iii) By logging on to the Tata Capital mobile application and checking the personal loan status. (v) Via internet banking.

How do I know my Tata Capital loan application?

You can check the status of your Tata Capital loan application in two ways. (i) Net banking: You are required to login into Tata Capital net banking and visit the loan status segment. The loan status segment will update about the loan application. (ii) Visiting the Tata Capital: You can also visit the Tata Capital branch to track your loan application process. The bank will ask for some basic documents before disclosing the loan application details.

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Tata Capital Personal Loan News - Nov 2021
  • 2021-02-23 : Tata Capital launched a campaign to introduce Shubharambh loan
    Tata Capital joined hands with Zee Cinema to launch a campaign to introduce the Shubharambh loan. Shubharambh Loans are available across Business, Personal Two-wheeler, Used Car, Loan Against Property and Home Loans. Each product has special features that aims to benefit customers across categories.
  • 2019-08-14 : Tata Capital Fin Services eyes 20% growth in loan book this fiscal
    A subsidiary of Tata Capital, Tata Capital Financial Services is eyeing for more than 20% growth in its overall loan book this fiscal. The company is also aiming to raise debts through NCD to fund its growth.
  • 2019-05-24 : Thomas Cook launches Holiday Basket package in association with Bajaj Finance and Tata Capital
    One of the leading travel services company, Thomas Cook has partnered with Bajaj Finance and Tata Capital to offer travel loans to Indian travellers and millennials with a facility of no cost EMI. With this plan, the company aims to help travellers to travel without worrying about their current finance.
  • 2019-02-25 : Thomas cook ties up with Bajaj Finserv and Tata Capital for Travel loans EMI Scheme
    In a bid to provide offer convenience and benefits to their customers while travelling, Thomas cook has announced its association with Bajaj Finserv and Tata Capital for Travel loans EMI scheme for avid travellers. As per the sources, it has been witnessed that how travel enthusiasts are smartly making use of travel loans along with an EMI option to explore new destinations. In addition to this, the company also has plans to offer a travel savings product which allows the customer to fix the price ahead of the travel and save some specific amount.
  • 2019-02-14 : Tata Capital to disburse Personal Loans using Voice-bot TIA
    Tata Capital has announced the launch of its voice bot, TIA that will assist loan borrowers to avail personal loans without human intervention. The voice-enabled bot assists a person seeking a loan right from the initial stage of the loan process until the final disbursement of the loan. Additionally, it also checks your loan eligibility to assess whether the person can get loans from Tata Capital or not.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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