Tata Capital Housing Finance Limited Loan Against Property

Tata Capital Housing Finance Limited
4.5
Avail of a Tata Capital Loan Against Property for urgent personal and corporate needs. With Tata Capital LAP, unlock a great deal of benefits, including loan against property interest rate as low as 10.10% p.a. for loan amounts ranging between Rs. 10 lakh to Rs. 3 crores. Delivering exceptional value for mortgage loans, Tata Capital not only offers quick mortgage processing but affordable LAP interest rates and processing fees tailored for balance transfer and top up facilities.

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Tata Capital Housing Finance Limited

Tata Capital Housing Finance Limited LAP

  • Interest Rate

    9.85%

  • Loan Amount

    ₹10L - ₹3Cr

  • EMI Per Lakh

    ₹2,117

  • Processing Fees

    Up to 1.25% of the finance amount
  • Pre-Payment Charges

    • Lock-in period -12 months

Features & Benefits of Tata Capital Housing Finance Loan Against Property

Taking out a Loan Against Property (LAP) can be a smart choice when you're in need of significant funding. One of the prime institutions offering this facility is Tata Capital Housing Finance Limited. Their LAP product is tailored to suit diverse needs, offering many advantages.

Key Features & Benefits of Tata Capital Housing Finance Limited Loan Against Property:

  • Attractive Interest Rates: The Tata Capital Housing Finance Limited Loan Against Property interest rate is among the most competitive in the market. This affordability translates into smaller EMI payments and a more manageable loan term for borrowers.
  • Flexible Loan Terms: Tata Capital Housing Finance Limited offers LAP loans with flexible repayment tenure. This allows borrowers to plan their finances better and repay the loan conveniently.
  • Large Loan Amounts: With Tata Capital Housing Finance Limited LAP loan, you can leverage the value of your property to get access to substantial funds. This can be ideal for funding business expansions, education, or managing other large expenses.
  • Quick Processing and Disbursal: A Tata Capital LAP loan's application and approval process is efficient and swift. This ensures that you get the funds you need when you need them, making it a reliable source of finance in urgent situations.
  • Minimal Documentation: The process is not only quick but also simplified. The requirement for documentation is kept to a minimum, making it a hassle-free experience for the borrower.

Tata Capital Housing Finance Loan Against Property - An Overview

Introducing the Tata Capital Housing Finance Limited Loan Against Property (LAP), a robust financial solution designed to meet your diverse monetary needs. With this impressive offering, you can unlock the potential wealth in your property without selling it.

The Tata Capital Housing Finance Limited LAP Loan offers significant loan amounts at competitive interest rates, creating an ideal blend of convenience and cost-effectiveness. This loan is crafted with customer needs in mind, making it a fitting choice whether you need funds to expand your business, finance your child's education, or tackle a medical emergency.

Applying for the Tata Capital Housing Finance Limited Loan Against Property is straightforward. With easy documentation and a swift approval process, your financial requirements can be addressed promptly.

Tata Capital Housing Finance Loan Against Property Fees and Charges

If you are looking for a loan against property (LAP) to meet your personal or business needs, consider Tata Capital Housing Finance Limited as one of your options. Tata Capital Housing Finance Limited offers LAP for up to Rs. 3 crore with flexible repayment tenure of up to 20 years and competitive interest rates starting from 10.10% p.a. The company also offers an overdraft facility and a pre-qualified top-up loan facility for existing borrowers.

However, before applying for a LAP from Tata Capital Housing Finance Limited, you should also know the applicable fees and charges for the loan. These include processing fees, part payment charges, foreclosure charges, penal interest, and other miscellaneous charges.

Knowing these charges will help you plan your finances better and avoid any surprises later.

Here is a table of the fees and charges for LAP from Tata Capital Housing Finance Limited:

Fees and Charges Amount
Processing Fee Residential and Commercial properties (HE) - 1% of finance amount + GST and up to 3% Rest all other properties (HE Plus) - 1.25% of finance amount + GST and up to 3% Mint Loan - 1.25% of finance amount + GST and up to 3%
Part Payment Charges 12 months lock-in period. After 12 months, a maximum of 25% of the principal outstanding is allowed through part prepayment during the entire loan tenure, with payments being made in 2 tranches at the maximum.
Foreclosure Charges 4% of outstanding principal + GST
Foreclosure Charges for Top Up 4% of outstanding principal + GST
Foreclosure Charges in CCOD Cases 4% of the Dropdown Limit amount + GST
Penal Interest/Additional Interest 3% on Overdue Amount per month + GST
Bounce Charges Rs.2000 + GST
Mandate Rejection Service Charge Rs.450 + GST
CCOD Annual Maintenance Charges Rs.10,000 + GST
Application Fees Up to Rs.3 crore - Rs.3,000 + GST Above Rs.3 crore - Rs.5,000 + GST
Statement of Accounts Soft Copy – Nil Branch walk-in - Rs.250 + GST
Loan Cancellation Charges Rs.25,000 + GST
Instrument Swap Charges Rs.550 + GST
Duplicate Repayment Schedule Rs.550 + GST
Duplicate NOC Rs.550 + GST
Foreclosure Letter Charge Rs.500 + GST per request
One-Time Maintenance Charges Rs.2000 + GST
Document Retrieval Charges Rs.5000 + GST
LOD Statement Request Charges Rs.1000 + GST per request
Provisional Interest Certificate Request charges Rs.200 + GST per request
Final Interest Certificate Request charges Rs.200 + GST per request
Other Statements Request charges Rs.500 + GST per request
Stamp Duty At Actuals
Broken Period Interest At Actuals
Legal & Technical Charges Up to Rs.1 crore - Rs.6,000 + GST per property Above Rs.1 crore - Rs.11,000 + GST per property
Switch Fee Charges 12 months lock-in period - No changes allowed After 12 months - Rs.5000 + GST or 0.10% + GST of POS whichever is higher - For rate reduction less than 0.75% Rs.7500 + GST or 0.15% + GST of POS whichever is higher - For rate reduction greater than 0.75% to 1.50% Rs.10000 + GST or 0.25% + GST of POS whichever is higher – For rate reduction greater than 1.5%

Tata Capital Housing Finance Loan Against Property Interest Rates

The interest rate for LAP from Tata Capital Housing Finance Limited depends on various factors such as your employment type, income, credit history, existing debt, current market conditions, etc. It also depends on the type of property you are pledging, whether residential or commercial.

Here is a table of the interest rates for LAP from Tata Capital Housing Finance Limited as of June 2023:

Type of Property Interest Rate
Residential Property 10.10% p.a. onwards
Commercial Property 10.10% p.a. onwards
Land/Plot/Special Property 10.10% p.a. onwards

Factors Affecting Tata Capital Housing Finance Loan Against Property Interest Rates

When applying for a Tata Capital Housing Finance Limited Loan Against Property (LAP), the interest rate is crucial in determining your repayment structure. Several key factors influence this LAP interest rate at Tata Capital Housing Finance Limited:

  • Credit Score: A high credit score often leads to lower interest rates. It showcases your creditworthiness, reducing the risk perceived by the lender.
  • Loan Tenure: The duration of your loan can also impact the Tata Capital Housing Finance Limited LAP loan interest rate. A shorter tenure might increase the interest rate and vice versa.
  • Income and Job Stability: Consistent income and steady employment are positive indicators, leading to potentially lower interest rates. If you have a reliable source of income, lenders might see you as a lower risk.
  • Property Value: The value of the property you're putting up as collateral is another deciding factor. A higher property value can sometimes lead to a lower interest rate.
  • Relationship with the Lender: If you've had a positive history with Tata Capital Housing Finance Limited, it might reflect favourably on your LAP interest rate. This could be because of timely repayments of past loans or a long-standing relationship with the lender.
  • Market Conditions: Prevailing economic conditions can influence the lap interest rate Tata Capital Housing Finance Limited offers. Factors like inflation, changes in repo rates, and market demand-supply dynamics can alter interest rates.

Documents Required for Tata Capital Housing Finance Loan Against Property

If you're considering a Tata Capital Housing Finance Limited Loan Against Property (LAP), it's important to understand the required documents. The right paperwork ensures your application process runs smoothly, helping you to secure that loan at an attractive Tata Capital Housing Finance Limited LAP loan interest rate.

Here are the documents you typically need:

  • Proof of Identity: This could be a Passport, PAN Card, Voter's ID, or Driving License.
  • Proof of Address: Documents like Utility bills, Passport, or Voter's ID can be used.
  • Proof of Income: Recent salary slips for salaried individuals or Income Tax Returns for the self-employed.
  • Property Documents: Legal papers relating to the property you use for the loan.

The Tata Capital Housing Finance Limited LAP loan offers a competitive interest rate, making it an attractive option for those needing financial support. So, ensure you have the documents ready to benefit from the attractive LAP interest rate Tata Capital Housing Finance Limited offers. Make your property work for you with a LAP from Tata Capital Housing Finance Limited.

How Does the EMI Calculation Work for Tata Capital Housing Finance Loan Against Property?

When seeking to secure a Tata Capital Housing Finance Limited Loan Against Property (LAP), it's crucial to understand the workings of the Equated Monthly Instalment (EMI) calculation.

  • The formula involved in the EMI calculation includes the principal loan amount, the Tata Capital Housing Finance Limited LAP interest rate, and the loan tenure. It's designed to ensure you repay your loan in manageable monthly instalments.
  • The Tata Capital Housing Finance Limited LAP interest rate is a key factor in the calculation. A lower rate means a smaller EMI, making the loan more affordable.
  • EMI calculations for Tata Capital Housing Finance Limited LAP loans involve determining the monthly interest payable on the outstanding loan amount and reducing the balance over the loan tenure.

Tata Capital Housing Finance Limited Loan Against Property Customer Care Number

If you have any queries or concerns regarding your loan against property from Tata Capital Housing Finance Limited, you can contact their customer care team through various channels. The customer care team is available from 9 a.m. to 8 p.m. on Monday through Saturday (closed on Sundays and public holidays) and will assist you with prompt and courteous service.

  • Customer Care Number: 1860 267 6060
  • Email ID: customercare.housing@tatacapital.com
  • Address: 11th Floor, Tower A, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400013

You can predict your monthly financial commitments by considering the loan amount, interest rate, and tenure. This enables more effective loan repayment management, ensuring a smooth loan experience with Tata Capital Housing Finance Limited.

FAQs

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

What benefits does Tata Capital Housing Finance Limited provide on loans against the property?

Tata Capital Housing Finance Limited provides loans against property for up to 3 crores, flexible repayment tenures of up to 20 years, and competitive interest rates starting from 10.10% p.a. The company also offers an overdraft facility and a pre-qualified top-up loan facility for existing borrowers.

Does Tata Capital Housing Finance Limited have a fixed interest rate on loans against the property?

Tata Capital Housing Finance Limited offers fixed and floating interest rates on loans against property. The fixed interest rate is applicable for the first 3 years of the loan tenure, after which it is converted to a floating rate based on the prevailing market conditions.

How do I check a loan against property status at Tata Capital Housing Finance Limited?

You can check your loan against property status with Tata Capital Housing Finance Limited by visiting their website and clicking on ‘Track Application’ under the ‘Loan Against Property’ section. You must enter your application and mobile numbers to view your loan status.

Does Tata Capital Housing Finance Limited check the CIBIL score for loans against the property?

Yes, Tata Capital Housing Finance Limited checks for a CIBIL score for loans against property. The minimum CIBIL score required to avail of a loan against property from Tata Capital Housing Finance Limited is 650.

What is the maximum and minimum loan against property amount I can get from Tata Capital Housing Finance Limited?

The maximum loan against property amount from Tata Capital Housing Finance Limited is 3 crores, while the minimum is 5 lakhs. The loan amount depends on various factors such as income, property value, repayment capacity, etc.

What KYC documents must I submit to apply for a loan against property from Tata Capital Housing Finance Limited?

The KYC documents you must submit to apply for a loan against property from Tata Capital Housing Finance Limited are identity proof (PAN card, Aadhaar card, etc.), address proof (voter ID, driving licence, rent agreement, etc.), income proof (salary slips, bank statements, income tax returns, etc.) and property documents(sale deed, a title deed, Khata certificate, etc.)

What is the processing fee on Tata Capital Housing Finance Limited’s loan against property?

The processing fee on Tata Capital Housing Finance Limited’s loan against property is up to 2% of the loan amount plus applicable taxes.

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