Urban Money

Tata Capital Housing Finance Limited Home Loan

Tata Capital Housing Finance Limited
4.5

Tata Capital's Home Loan offerings are tailor-made for purchasing a home or constructing one. We also offer to transfer your Home Loan balance. Tata Capital housing loans extend from Rs. 5 lakhs up to Rs. 5 crores and start at an affordable interest rate of just 6.85%*. You can choose the Home Loan amount, tenure, and the EMI period as per your convenience. And what's more is that our housing loan processing involves minimum documentation and is easy and seamless. Moreover, our years of experience in the industry make us one of the best home loan providers you have been looking for!

  • Tata Capital Housing Finance Limited
  • Home Loan
Loan Amount:₹5L - ₹5Cr
Interest Rate:6.85% - 12%
Processing Fee: Up to 2%
Tenure:30 Years
Details
BanksInterest RateProcessing FeeLoan Amount/Tenure
Tata Capital Housing Finance Limited

6.85% - 12%

Up to 2%

₹5L - ₹5Cr

Tenure(5 - 30 Years)

Details

Features and Benefits of Tata Capital Housing Finance

  • Tata Capital Housing Finance provides a wide range of facilities, not just for buying a property but also purchasing a plot of land for construction, home extension, balance transfer and much more.
  • It offers simple and flexible loans with attractive interest rates starting from 6.85% only. 
  • The Tata Capital Housing Finance home loan eligibility calculator helps you check your eligibility in seconds.
  • It provides you flexible repayment options so that you can move into your dream adobe in no time.

Tata Capital Housing Finance Overview 

Tata Capital Housing Finance Limited tailors house financing solutions at competitive interest rates. With minimal formalities and paperwork, Tata Capital Housing Finance Limited brings borrowing experience at your comfort. 

  • Affordable interest rates starting from 6.85%
  • Super quick processing and swift disbursal of funds.
  • Flexible EMI plans and repayment options

Tata Capital Housing Finance Eligibility Criteria

The basic eligibility criteria laid by Tata Capital Housing Finance for home loans are:

  • You should be between the ages of 24 to 65 (at the time of completion of your home loan).
  • You should be a salaried individual or a self-employed professional.
  • You should maintain a CIBIL score of more than 750.

Salaried Employee

A minimum salary of Rs. 30,000 per month Minimum work experience of 2 years

Self Employed

  • For self-employed individuals or entrepreneurs, a minimum of 3 years of experience in their respective fields is required.

NRIs

The individual must be of the age of 25-65 years. Must be a salaried individual with at least three years of work experience.

Tata Capital Housing Finance Fees and Charges

Category Fees and Charges
Processing Fees 0.5% on Loan Amount + GST
Foreclosure No charges for paying off your loan before the end of the term with your own funds only.
Delayed EMI Payments A charge of 2% over the housing loan interest rate will be applicable for the period of delay.
Collection Agency A percentage of the total amount owed is collected. It is charged on actuals.  
Legal Charges This fee can vary depending on the lending institution. It is charged on actuals.  

Types of Home Loans by Tata Capital Housing Finance 

Types Description
Tata Capital Home Loan
  • ₹5 Lakhs-₹5 Cores
  • Interest rates starting @ 6.70%
  • Choose between fixed and floating rates
  • Option to reduce the loan tenure during the course
Tata Capital Home Extension
  • This is availed to extend or expand the structure of an existing property
  • ₹2 Lakhs-₹5 Crores
  • Interest rate starts at 8.50% PA
  • Flexible repayment options are available
  • Tax benefits can be availed up to ₹30,000 towards interest paid during the year.
Affordable housing loan under PMAY Scheme
  • Minimum loan amount: ₹2,00,000
  • Interest rates start at 10.10% p.a.
  • Processing fee: 1% of the loan amount + GST
  • A legal evaluation of your property.
  • The annual household income should range from Rs. 3 lakh to Rs.18 lakh to be eligible.
  • Subsidised interest rates starting from 3%.

Tata Capital Housing Finance Limited Interest Rates

Housing Loan Schemes Interest Rates
Home Loan 6.60% p.a. onwards
Home Extension Loan 8.50% p.a. onwards
Affordable Housing Loan 10.10% p.a. onwards

Factors Affecting Home Loan Interest Rates

Take heed of these factors that might affect the Tata Capital Housing Finance home loan interest rates.

The CIBIL Score 

A CIBIL score is a numerical representation of your ability to repay the credit. It is an important factor that is taken into consideration by lending organisations during verification of home loan applications. A higher CIBIL score, preferably 750 and above, gives you an added advantage of getting a loan at lower interest rates. 

Income 

While loan processing, the lending organisation considers your income to evaluate your financial stability. The greater your income, the more flexible will be the interest rate charged. You can also apply with a co-applicant. By pooling your incomes together, you can easily qualify for a low-interest home loan.

Debt-Income Ratio 

The lending organisation checks your debt-income ratio to review your ability to pay off any additional debts. In case most of your income is going into repayment of debts, then a higher interest rate will be charged.

Job Capacity 

With a stable job and income, and a reliable employer, the lender is assured of your repayment capacity. This highly affects your interest rate.

Documents Required for Processing of Tata Capital Housing Finance Home Loan

Check out the documents required for the successful application and processing of Tata Capital Housing Home Loan. 

Salaried Employees

Age Proof  
  • Passport
  • Driving licence
  • LIC policy
  • Birth certificate
  • PAN card
  • School Leaving Certificate
Photo Identity
  • Voter ID
  • Passport
  • Driving licence
  • Aadhaar card 
  • PAN card
       (Any of these)
Address Proof
  • Utility bill 
  • Bank statement
  • Property registration documents
  • Property tax receipt
  • Voter ID
(Any of these)
Salary Proof
  • Salary slips for the last 3 months
  • Appointment letter
  • Yearly increment letter
  • Certified true copy of Form 16
 
Income Proof Your salary account bank statement for the last 6 months.  
Processing Fee Cheque To be issued from the salary account for salaried customers or the business account in case of self-employed.  
Existing Loan Details Existing loan details should be provided through bank statements.  

Self Employed/ Entrepreneurs

Age Proof  
  • Passport
  • Driving licence
  • LIC policy
  • Birth certificate
  • PAN card
  • School Leaving Certificate
Photo Identity
  • Voter ID
  • Passport
  • Driving licence
  • Aadhaar card 
  • PAN card
       (Any of these) 
Business Proof
  • A copy of last two years of Income Tax Returns
  • Your Business Letterhead
  • Registration certificate for business commencement
Income Proof
  • A copy of the last three years' Profit and Loss (P/L) Projection Statement
  • 6 months bank statement 
  • Bank statements for the last six months of CC/OD facilities (if taken)
Existing Loan Details All existing loan details to be provided via bank statements  

Non-Resident of India (NRIs)

Age Proof  
  • Passport
  • Driving licence
  • LIC policy
  • Birth certificate
  • PAN card
  • School Leaving Certificate
Photo Identity
  • Voter ID
  • Passport
  • Driving licence
  • Aadhaar card 
  • PAN card
       (Any of these) 
Address Proof
  • Voter ID
  • Passport
  • Driving licence
  • Aadhaar card 
  • PAN card
       (Any of these) 
Income Proof Overseas salary account details of the last six months  
Processing Fee Cheque For salaried customers, to be paid from the salary account. For self-employed, processing fees to be paid via the business account.  
Credit Report NRI applicants should submit a Credit Report of their current country of residence (wherever it is applicable as per Tata Capital norms.)  
Existing Loan Details Existing loan details should be provided through bank statements.  

How the EMI Calculation Works for Tata Capital Home Loan?

Tata Capital Housing Finance provides you with an EMI calculator. The calculator uses the below formula to calculate a home loan EMI.

EMI = [P x R x (1+R) ^N]/ [(1+R) ^N-1]

i.e.

EMI = Equated Monthly Instalment

P = Principal Loan Amount

R = Monthly Interest Rate

N = Number of Monthly Instalments

How Does Tata Capital Housing Finance Compare with Other Lenders? 

Name of Lender Up to 30 Lakh Above 30 Lakh and up to 75 Lakh Above 75 Lakh
Tata Capital 6.85 onwards 6.85 onwards 6.85 onwards
State Bank of India 6.65-7.65 6.65-7.65 6.65-7.65
HDFC 6.70-8.45 6.70-8.60 6.70-8.70
Axis Bank 6.75-11.50 6.75-11.50 6.75-11.50
ICICI Bank 6.70-7.55 6.70-7.55 6.70-7.55
Kotak Mahindra Bank 6.60 onwards 6.60 onwards 6.60 onwards
PNB Housing Finance 6.75-12.00 6.75-12.00 6.90-9.75
Punjab National Bank 6.55-7.95 6.50-7.65 6.50-7.60
Bank Of Baroda 6.75-8.25 6.75-8.25 6.75-8.50
Union Bank of India 6.60-7.60 6.60-7.65 6.60-7.65
IDFC First Bank 6.50 onwards 6.50 onwards 6.50 onwards
L&T Housing Finance 6.75 – 7.75 6.75 – 7.75 6.75 – 7.75
Bajaj Housing Finance 6.65 onwards 6.65 onwards 6.65 onwards
LIC Housing Finance 6.70 – 7.85 6.70 – 8.05 6.70 – 8.05

Balance Transfer of Tata Capital Housing Finance

Tata Capital Housing Finance offers home loan transfer where the entire outstanding principal amount of home loan is transferred from an existing lender to a new one offering a lower rate of interest. With Tata Capital Housing Finance Balance Transfer, you will be offered the lowest interest rates starting from 6.85% p.a. You will be provided a home loan top up at relatively lower interest rates to help you meet such additional needs with ease.

FAQs

From refinancing to reducing your interest, we have the answers right here.

What is the minimum time period given for repayment?

The minimum time period given to repay your loan is 30 years. (Subject to the retirement age of the borrower or 65 years in the case of self-employed.)

What is the interest rate of the home loan?

The interest rate starts from 6.85% and is flexible. A concession on interest rates is offered to women applicants as well. They also provide subsidised home loans under the PMAY Scheme for low income groups.

What is the maximum and minimum loan amount that Tata Capital Housing finance offers?

Tata Capital Housing Finance offers home loans starting from ₹5 lakhs to ₹5 cores.

Does Tata Capital Housing Finance check the CIBIL Score before processing the loan?

Yes, they check the CIBIL Score and it is suggested that you maintain your CIBIL score above 750.

Get your latest Credit Score, FREE

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