TATA Capital Home Loan Interest Rate

TATA Capital provides affordable housing loans with competitive interest rates beginning at 6.70% per annum. On extended loan terms of up to 30 years, you can obtain a maximum loan amount of Rs.5 crore. The processing cost, plus relevant taxes, might range between 2% and 4% of the loan amount.

Characteristics of the TATA Capital Home Loan Schemes

Here are the major characteristics of the TATA Capital home loan schemes:

  • The Tata Capital home loan has a repayment period of up to 30 years.
  • Tata Capital provides house loans for properties ranging from Rs 5,00,000 to Rs 5,00,00,000. Interest rates begin at 6.85% and vary depending on repayment capacity, loan length, and loan amount.
  • To process your application, you must pay a processing fee. Tata Capital charges a one-time fee of around 0.5% of the loan amount, which includes taxes.
  • Tata Capital home loans require only the most basic documents. A relationship manager will walk you through the necessary documentation when you apply for a loan.

TATA Capital Home Loan Interest Rate 2022

Here are the tables of the TATA Capital home loan interest rate-

1) Tata Capital Housing Loan Interest Rate For Regular Home Loans

Type

TATA Capital home loan rate

Salaried

8.10%

Self-Employed

8.10%

 

2) Tata Capital Rate Of Interest For Home Loan Schemes

Type

Interest Rate

Extension Loan

8.50%

Affordable Housing Loan

10.10%

Types of Home Loan Schemes from TATA Capital

There are different home loans to cater to the different purposes of the clients, and they are-

1) TATA Capital Regular Home Loan 

This is a loan amount where the scheme will range from Rs. 5 lakhs toRs. Five crores. The interest rate for these loans will begin from 6.70% for a year. The processing fee for this loan is 0.05% of the loan value. You can easily apply for this loan scheme with an easy application process. You will also have to choose between an institution's fixed and a floating interest rate. The choice of decreasing the loan tenure in the course of the loan is also available to the applicants.

2) TATA Capital Affordable Home Loan Under PMAY

This loan scheme has a minimum value of Rs. 2 lakhs. The interest rates for this home loan scheme will start at 10.10%. The processing fee for this loan is 1% of the loan amount borrowed from TATA Capital. There would be a complete evaluation of the property. The household's income needs to range from Rs. 3 lakh to Rs. 18 lakh to be eligible for the loan. The subsidized interest rate will start from 3%.

3) TATA Capital Home Extension Home Loan Scheme

This is a loan scheme where the value will range from Rs. 2 lakhs to Rs. 5 crores. The interest rate for this particular loan scheme is 8.50% for a year. The documentation for this scheme is simple and flexible EMI repayment choices. You will be eligible for the tax benefits of Rs. 30,000 towards the interest that is paid towards interest paid the year.

Documents Required for the Loan

  • Valid Passport, Driving License, Life Insurance Policy, Birth Certificate, PAN Card, and School Leaving Certificate are all acceptable forms of proof of age.
  • Voter ID Card, Valid Passports, Driving Licenses, Aadhar Card, and PAN Card are all acceptable forms of photo identification.
  • A cheque for Processing Fee - is to be issued from your business account.
  • Utility bills, bank statements, property registration documents, property tax receipts, and voter ID cards are all acceptable forms of address proof.
  • Existing loan data will be delivered via bank statements.

Who is Eligible for the TATA Capital Home Loan Scheme?

  • NRIs/PIOs are Indian residents.
  • For salaried individuals, the minimum monthly income is Rs 30,000.
  • Work Experience: For paid applicants, two years is required; for self-employed and NRIs, three years is required.
  • Salaried or self-employed
  • Age range: 24-65 years.
  • CIBIL/Credit Score: 750 or higher.
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