Tata Capital Personal Loan Online – Check ELigibility and Interest Rates

Planning to get a Tata Capital personal loan online? Here at Loan Sumo, we will provide you with some crucial details about the loan to help you make a well thought out decision. Tata Capital Limited, an investment and financial service provider, is a subsidiary of Tata Sons Ltd. Being one of the leading NBFCs (non-banking financial company) in India, Tata Capital provides a host of financial products and services such as forex, security, commercial finance, investment banking, consumer finance, credit cards, and loans. Tata Capital personal loans are highly popular among borrowers looking for instant personal loans.

About Tata Capital personal loan online

A personal loan can be useful in various situations. Whether you are facing an emergency or going through a short-term cash crunch, applying for the Tata Capital personal loan online can help you get the funds you need. These loans are multipurpose and versatile solutions to a range of financial problems. Some of the common reasons borrowers go for personal loans are wedding, medical emergency, debt consolidation, rent and bill payment, vacation, home improvement, and tech or luxury goods purchase. Since personal loans do not have a specific purpose like home loans or business loans do, it is up to you how you use the money.

Though there are no hard and fast rules about how you use a personal loan, you need to practice caution and be smart about it. For example, if you are planning to invest the money in business or education, make sure to look for better deals in business loans or student loans first. Another great feature of Tata Capital personal loans is that these are unsecured. That means you do not need to provide any collateral or security deposit to obtain the loan. Therefore, if you fail to repay the loan on time, the lender cannot go after your property or assets. There may be other severe consequences of non-repayment. The lender can take legal steps against you or apply unpleasant loan collection practices.

Tata Capital is famous for disbursing high personal loan amounts. Depending on your income and eligibility, you may be able to borrow anywhere from Rs. 75000 to Rs. 25 lakhs.

The various repayment methods you should be aware of

As mentioned above, repaying the personal loan on time is crucial. Thanks to the flexible repayment terms and schedules that come with Tata Capital personal loan online, making timely payments becomes easy. The loan is paid off in fixed monthly instalments or EMIs. The amount per EMI is decided based on your income, repayment capability and tenure of the loan. You also have the option to decrease or increase the EMI amount or go for a part-prepayment plan. Tata Capital provides primarily three types of flexi EMI plans. Let’s find out what they are and how they work.

Bullet flexi EMI plan:

Do you regularly receive bonuses and incentives from your job? If you have an additional source of income or if you often make some extra money on top of your monthly salary, you should go for the Bullet Flexi EMI plan for your Tata Capital personal loan online scheme. This plan allows you to prepay a part of your loan without having to pay any extra fee. This way, you can reduce your monthly EMI significantly.

Step down flexi EMI plan:

If you are nearing your retirement and want to build a substantial asset for the future, this plan is for you. Here, you pay high EMIs in the beginning and gradually reduce the amount year after year. If you have sufficient disposable income, this scheme will help you repay the loan on time.

Step up flexi EMI plan:

Are you expecting a raise anytime soon? If so, you can go for the step up flexi EMI plan that allows you to pay higher amounts every year in servicing the loan. This plan helps you to increase the EMI amount, reduce the taxes and pay off the loan long before the stipulated time.

You can also use an EMI calculator before applying for your Tata Capital personal loan online. This calculator takes into account your eligibility, loan interest rates, and the repayment term to display the best EMI plan. The EMI calculator is especially beneficial to those looking for a low salary personal loan. Thanks to this tool, you can plan the repayment as per your income and stick to a monthly budget.

Tata Capital personal loan online – check eligibility & interest rates online

Before you submit your application for the Tata Capital personal loan online, you need to know whether you are eligible for the loan and how your eligibility affects the interest rates and charges you will get. Here at Loan Sumo, we aim at getting you the lowest interest personal loan offers from legitimate and responsible lenders. However, the rates are going to differ from one borrower to another. Are you worried about whether you can afford a Tata Capital personal loan? There is a way to figure out the estimated cost. Here is a quick list of the rates and charges that should help you conduct a rough calculation.

Loan amount Up to Rs. 20 lakhs
Tenure 1 to 6 years
Interest rates 10.99% – 25%
Processing fee Nil

Have you decided to apply for the loan already? Check out Loan Sumo and fill out the quick application form to get the process started. With us, you stand to get the best rates and fastest approval.