Tata Capital provides reasonably priced housing loans with attractive interest rates starting from 9.15% per annum. A maximum loan quantum of Rs.5 crore is available with extended repayment periods stretching up to 30 years. The processing levy is subject to 2% of the loan amount, including the appropriate taxes.
Tata Capital extends a sole Home Loan offer encompassing an 8.50% floating interest rate. The maximum lending limit can reach up to Rs.3 crores. Should your chosen property fail to meet Tata Capital's approval, we recommend selecting an alternative lender with existing approval for your property to expedite the process.
Tata Capital entices with competitive interest rates and expert guidance throughout the loan process. The distinctive features of its housing loan programs are enumerated below:
Reference Rate: 17.45%
Loan Quantum: Minimum: Rs.5 lakh, Maximum: Rs.5 crore
Processing Levies: 0.5% of the loan amount + GST
Penal Interest Rate: Additional 2% on the applicable rate for the duration of the delay
Prepayment/Foreclosure Charges: None for payments from own-source; 2% for non-individuals and balance transfer on fixed-rate loans
Maximum Tenure: 30 Years
Rate Packages: Floating/Fixed
Presented below are the latest interest rates on Tata Capital's home loan offerings:
Home Loan: Commences from 9.15% p.a.
Home Extension Loan: Commences from 9.15% p.a.
Affordable Housing Loan: Commences from 10.10% p.a.
Tata Capital brings forth an array of home loan options with competitive interest rates and extended loan terms. Here's a lowdown on the current interest rates, eligibility prerequisites, and necessary documentation:
Interest Rates: Initiate at 9.15% p.a.
Utilizable for extension/expansion/alteration of an existing property.
Simplified documentation and flexible EMI repayment options.
Eligibility for tax benefits up to Rs.30,000 towards interest paid annually.
Interest Rates: Initiate at 10.10% p.a.
Processing Fee: 1% of the loan amount plus applicable charges.
Comprehensive legal evaluation of the property.
The annual household income must lie between Rs.3 lakh and Rs.18 lakh.
Subsidized interest rates commencing from 3%.
Calculate your Equated Monthly Instalments (EMIs) for your housing loan using the Tata Capital EMI Calculator. This automatic tool computes your EMI based on parameters like loan amount, loan tenure, interest rate, and processing fee while providing a detailed breakdown of your total payable amount throughout the tenure. It also exhibits an Amortisation Table showcasing your monthly and annual principal and interest repayments during the tenure.
Proof of Age and Identity
Valid Passport, Driving License, Life Insurance Policy, Birth Certificate, PAN Card, School Leaving Certificate, Voter ID Card, and Aadhar Card.
Proof of Address
Utility Bills, Bank Statements, Property Registration Documents, Property Tax Receipts, and Voter ID Cards.
Proof of Income
These include business proof for self-employed individuals (IT Returns for the last 2 years; Business Profile; Business Registration Certificate), Loan account statement indicating repayments in the case of any ongoing loans, duly filled loan application form affixed with passport size photographs of the applicants or co-applicants, and Processing fee cheque from the borrower’s account (Salary account in the case of salaried borrowers or business account in the case of self-employed borrowers).
1) Who can apply?
Anyone looking to purchase a new house/flat, acquire a residential plot to build a house later, remodel their existing property, or add/extend their existing house/apartment.
2) What is the maximum loan tenure?
It can be extended up to 30 years for comfortable debt repayment.
3) Is the processing fee refundable?
No, it is a non-refundable one-time expense.
4) What are the loan repayment options?
Loan repayment can be made through Electronic Clearance Services (EMIs debited from your loan account) or Post Dated Cheques.
5) Can I choose fixed-rate home loans?
Yes, for the first three years of the loan repayment tenure, after which your loan will be automatically converted to a floating rate type with your consent.
6) How can I reduce the loan tenure on my loan?
You can decrease the loan term either by making prepayments towards your home loan or by increasing your EMIs.
7) How can I obtain my home loan statement?
It can be acquired by visiting the customer portal using the details provided in the welcome letter by the lending institution.
8) Who can be a co-applicant?
Immediate family members such as your spouse, parents, children, or siblings. All co-owners of the property must be co-applicants for the loans. However, co-applicants need not be co-owners of the property.
9) How long will it take for my loan application to be sanctioned?
For salaried applicants, it takes 4-5 days, while for self-employed applicants it's 7-8 days