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Tata Capital Personal Loan Interest Rate

Current Tata Capital Personal Loan Interest Rate

Last Updated 28th May 2021

Interest Rate 11.25% - 17.99%
Tenure Upto 72 months
Processing Fee Upto 2.50% of Loan Amount
Loan Amount ₹ 75,000 to ₹ 25 Lakh
Minimum Income ₹ 20,000
Eligible Age 21 to 58 years
Part Prepayment Charges Allowed after paying 6 EMIs with charges ranging from, Nil prepayment charges of the outstanding loan amount.
Foreclosure Charges Allowed after 6 months with charges ranging from, Rs. 1,000 to Rs. 5,000 of the outstanding loan amount.
  • Today’s Tata Capital personal loan interest rate starts at 11.25%.
  • Tata Capital offers the lowest personal loan rate of 11.25% to borrowers who are existing customers of the bank or are working with top corporations.
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Tata Capital Personal Loan Rates and Charges

  • Tata Capital offers personal loans to salaried individuals at a minimum rate of 11.25%.
  • Apart from the interest rate, the bank also charges processing fees and penalty fees for pre-payment, foreclosure, and late payment as Tata Capital personal loan rates and charges. As listed below:
Tata Capital Personal Loan Rates and Charges
Interest Rate 11.25% to 17.99%
Part Prepayment Charges Allowed after paying 6 with charges ranging from, Nil prepayment charges of the outstanding loan amount.
Foreclosure Charges Allowed after paying 6 months with charges ranging from, Rs. 1,000 to Rs. 5,000 of the outstanding loan amount.
Processing Fees Upto 2.50% of Loan Amount
Additional Reschedule Charges ₹ 550 + GST/td>
EMI Cheque Bounce Charges ₹ 450 + GST
Loan Cancellation Charges Nil
Other Charges ₹ 550 + GST

Interest rates on Tata Capital Personal Loans Schemes

As on today, Tata CapitalPersonal loan interest rates are in the range of 11.25% to 17.99%, with lowest rates offered to existing customers of the bank with a strong CIBIL Score and for those working with reputed corporate with a stable employment history. The lowest rate on Tata Capital personal loan remains unchanged at 11.25% as on 28 May, 2021. The last revision on Tata Capital Personal Loan was announced on 28 May, 2021 when the rate was 11.25%. Tata Capital also runs special schemes in which it offers lower rates for defense, armed forces and government employees.Personal loan interest rate for government employee and defense personnel is different from private salaried employees.

Tata Capital Personal Loan Interest Rates for Salaried and Self-Employed-

Employment TypeLowest Rate Processing FeesPrepayment charges
Salaried Starting from 11.25% Upto 2.50% of Loan Amount Nil prepayment charges
Self-Employed Professional Starting from 19.00% From 1.50% to 2.50% NIL

Tata Capital Personal Loan Rate Comparison with Other Banks

Here is a comparison of Tata Capital Personal Loan with top lenders based on interest rate, loan tenure, amount, processing fee, and other charges. It is always better to compare various personal loan lenders before proceeding with the personal loan process.

Particulars Tata Capital HDFC Bank SBI
Rate of Interest Starting from 11.25% Starting from 10.25% Starting from 9.60%
Loan Tenure 12 - 72 months 12 - 60 months 6 - 72 months
Minimum Age 21 years 21 years 21 years
Processing Fee Upto 2.50% of Loan Amount Upto 2.50% Min Rs. 999 1.00%
Maximum Loan Amount ₹ 25 Lakh ₹ 75 Lakh ₹ 15 Lakh
Prepayment charges Allowed after 6 EMI's, Nil prepayment charges Allowed after 12 EMI's, 2-4% Not allowed
Pre closure charges Allowed after 6 EMI's, Rs. 1,000 to Rs. 5,000 Allowed after 12 EMI's, 2 - 4% Allowed after 6 EMI's, 3%

Tata Capital Personal Loan Balance Transfer Interest Rates

Tata Capital personal loan balance transfer facility is ideal for existing personal loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing of personal loan with Tata Capital at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender. Currently Tata Capital offers the lowest personal loan balance transfer rate of 10.99%.

How to Get Low Interest Rates on Tata Capital Personal Loan?

You can get the lowest Tata Capital personal loan rate, by ensuring the below-mentioned things:

  • Ensure that you are aware of the Tata Capital personal loan eligibility and documentation requirements beforehand so that you do not end up paying a higher rate as compensation for lack of any document.
  • Ensure that you maintain a good credit score of 650. The higher the credit score, the higher is your chance of getting a low-interest rate.
  • Always check if you are eligible for a pre-approved offer from Tata Capital as that allows you to get instant loans at the best rates.
  • Compare lenders to get competitive interest rates. Further keep tracking the loan rates trends, Tata Capital may offer lower interest rates in the festive season.
  • If you are a high salary earning employee and work in a reputed firm, then leverage it. Tata Capital offers lower rates to employees working in top firms drawing high salaries.

FAQs

What is Tata Capital personal Loan interest rate?

Today, the lowest interest rate on Tata Capital Personal Loan is 11.25%. Borrowers with high income and CIBIL score are eligible for the lowest interest rate.

How can I reduce my interest in Tata Capital personal loan?

You can reduce the interest to be paid on Tata Capital personal loan by any of the below-mentioned ways:

  • By maintaining a good CIBIL score
  • By showing all proofs of income
  • By maintaining a good debt to credit ratio
  • By applying at peak time when Tata Capital provides discounted personal loan offers

Is Tata Capital personal a floating rate loan or fixed-rate loan?

Tata Capitalis offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the personal loan rates keep varying according to the market.

Did Tata Capital personal loan rate drop in 2021?

Presently, Tata Capital offers personal loans at an interest rate starting at 11.25%. There has been no change in personal loan rates of Tata Capital for a long time and continue to stand at 11.25%.

How do I check my eligibility to get a personal loan at a low rate from Tata Capital?

The lowest rate on Tata Capital is mostly offered to individuals with high CIBIL and high income. You can check the eligibility for the personal loan at Tata Capital official website. Apart from that you can also use MyLoanCare Personal Loan Eligibility Calculator.

What is the lowest personal loan rate in Tata Capital?

The lowest personal rate offered by Tata Capital on a personal loan is 11.25%.

What is the interest rate charged by Tata Capital on personal loan?

Personal loan interest rates in Tata Capital are 11.25% to 17.99%. Tata Capital personal loan interest rate for salary account holders are comparatively lower than that for other customers.

Can I ask for a reduction in the Tata Capital personal loan interest rate?

You can ask for a reduction in your Tata Capital personal loan interest rate. However, it depends upon the policy of the bank, whether it allows negotiation or not. Good credit score, high income, and existing relationship with the bank are some of the points which can contribute to the talks going your way.

Is there any need for security or collateral while availing Personal loan from Tata Capital?

No, there is no need for any collateral or security while availing a personal loan from Tata Capital. Tata Capital personal loan is an unsecured loan; thus, it does not require pledging of any asset as security to avail the loan.

How can I close my Personal Loan from Tata Capital early?

If you want to prepay your entire personal loan from Tata Capital, then you can do so by making a lump sum payment. However, you should also inquire about the prepayment and foreclosure charges based on the Tata Capital personal loan scheme availed by you, before making any decision.

How does Tata Capital calculate the interest on a personal loan?

The interest for Tata Capital personal loan is calculated based on the following methods:

  • Flat rate method:   Under this method, Tata Capital personal loan rate is estimated on the original loan amount throughout the original loan tenure. Thereby, the principal amount for calculation remains the same. This method is also called the fixed method of Tata Capital personal loan interest calculation.
  • Reducing rate method:  As per the Tata Capital personal loan reducing balance method the interest rate is calculated on the outstanding loan amount. Therefore, the principal component that is paid during the monthly EMI is not chargeable for interest calculation. In this case, the outstanding balance and the interest reduces with time, and the interest is charged only on the remaining principal amount.

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Tata Capital Personal Loan News - Jun 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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