Tata Capital Housing Finance Personal Loan Interest Rate 2023

Tata Capital Housing Finance PL Interest Rate

Tata Capital Housing Finance Limited offers personal loans of up to INR 20 lakhs with repayment terms ranging from 12 to 60 months. Borrowers can use ICICI Personal Loans for weddings, vacations, house renovations, and situations requiring medical attention. Based on the applicant's credibility, Tata Capital Housing Finance Limited personal loan interest rates range from 11.25% per annum to 17.99% per annum. An individual borrower's rate options are determined by their credit score, current debt, repayment history, and risk profile. These are a few factors that are considered before concluding the offered personal loan Tata Capital Housing Finance Limited interest rate. 

Tata Capital Housing Finance Personal Loan Interest Rates by Schemes

Tata Capital Housing Finance Limited offers its customers a wide array of personal loan schemes. These schemes help cover various financial needs, such as fulfilling the applicant's requirements. The below-depicted table enlists the different personal loan schemes offered by Tata Capital Housing Finance Limited and their interest rates. 

Scheme	Specification	Interest Rates
NRI Personal Loan	To address the personal needs of Non-Resident Indians.	15.29% per annum onwards.
Top-Up Loan	A supplement to the existing loan with speedy processing and disbursement capabilities to meet the applicants' requirements.	11.25% per annum onwards.
Balance Transfer	Existing personal loans from other banks/NBFCs are transferred to Tata Capital Housing Finance Limited at a cheaper Tata Capital Housing Finance Limited personal loan interest rate.	Available at the bank's discretion and the borrower's credit profile.
Fresher Funding	To cover the personal expenditures of new hires and first-year students. Banks offer loan amounts of up to INR 1.5 lakhs.	11.25% per annum onwards
Holiday Loan	Personal loans online with a simple application and speedy processing to cater to individuals' travel needs.	11.25% per annum onwards
Home Renovation	Akin to a personal loan explicitly tailored to the borrower's housing needs. Applicants can avail of a home renovation loan of up to INR 20 lakhs within 72 hours.	11.25% per annum onwards
Wedding Loan	Cater to your last-minute wedding expenses with Tata Capital Housing Finance Limited personal loan without providing any collateral.	11.25% per annum onwards

Tata Capital Housing Finance Limited Personal Loan Interest Rates for Salaried and Self-Employed

Tata Capital Housing Finance personal loan interest rates for salaried employees and self-employed professionals start from 11.25% onwards. It can go up to 17.99% based on the applicant’s credibility and other factors such as income, age, repayment history, etc. 

Type of Employment	Offered Personal Loan Interest Rate	Processing Charges	Prepayment Charges
Salaried Employee	From 11.25% per annum onwards	2.25%  of the approved loan amount	Not Applicable
Self-Employed Professional	From 11.25% per annum onwards	INR 1999	Not Applicable

Tata Capital Housing Finance Limited Personal Loan Interest Rate for Salary Account

There are various benefits of having a salary account with Tata Capital Housing Finance Limited. One advantage is securing a personal loan with quick approval and attractive interest rates. The best part about having a Tata Capital Housing Finance Limited salary account is the bank is well-versed in your repayment history, debts, income and other associated factors. Based on this information, securing a personal loan at lower interest rates, i.e. from 11.25% per annum onwards, becomes an easy deal. 

Tata Capital Housing Finance Limited Pre-Approved Personal Loan Interest Rate 

Tata Capital Housing Finance Limited pre-approved personal loans are available for specific customers.

To know your eligibility for a pre-approved offer, visit the bank's official website and provide specific details. It will help you to determine the pre-approved personal loan amount you're eligible for. The bank generally provides a pre-approved personal loan to customers with good credit history and a clean repayment track. 

Additionally, Tata Capital Housing Finance Limited pre-approved personal loan interest rate is lower than the one offered to other applicants starting from 11.25% onwards.

Tata Capital Housing Finance Limited Personal Loan Balance Transfer Interest Rates

Tata Capital Housing Finance Limited offers a loan balance transfer facility to applicants paying higher interest rates than other banks. With Tata Capital Housing Finance Limited, they can transfer the existing loan account to Tata Capital Housing Finance Limited and unlock the benefits of lower interest rates starting from 11.75% onwards. 

Tata Capital Housing Finance Limited Personal Loan Fees and Charges

Before applying for a personal loan from Tata Capital Housing Finance Limited, along with offered interest rates, you must get acquainted with the associated fees and charges. Being familiar with these terms can help you determine the borrowed amount's overall incurred cost. 

Credit facility Type	Tata Capital Housing Finance Limited Personal Loan Interest Rate and Applicable Charges
Personal Loan Interest Rates	11.25% per annum to 17.99% per annum
Charges for Loan Processing Charges or Origination (Non-Refundable)	Up to 2.50% of total loan amount + GST
Charges Associated with Prepayment	5% on remaining principal amount (+) GST (in case of the salaried borrower)
	Nil if the loan is closed using own funds (MSME classified customers)
Additional Interest on Late Payment	24% per annum
Charges for Repayment Mode Swap	₹500 per transaction (+) GST
Charges for Loan Cancellation	₹3000 plus GST
Charges for EMI Bounce	₹400 per bounce plus GST

Factors Affecting Tata Capital Housing Finance Limited Personal Loan Interest Rates

Tata Capital Housing Finance Limited personal loan interest rates vary from applicant to applicant, and several points drive this variation. Some essential factors significantly affect Tata Capital Housing Finance Limited PL interest rates. These are as follows:

• Credit Rating: The CIBIL Score or Credit Score of the applicant plays a vital role in determining the offered interest rate. An applicant with a good credit score, i.e. more than 650, has a higher chance of getting loan approval at lower Tata Capital Housing Finance Limited interest rates. A good credit score caters to securing a better deal in terms of offered interest rates. 
• Financial Stability: Applicants must have the financial stability to grab a lower interest rate. A high-earning job ensures that the applicant will make on-time payments improving the chances of personal loan approval at lower interest rates. Thus, a stable income source is recommended before applying for a personal loan.
• Higher Income in Loan-to-Value Ratio (LTV): Applicant's income should be more than the monthly repayment amount. It ensures the applicant can cope with monthly expenses with utmost ease while repaying the instalments.
• Loan Repayment Tenure: Prolonged repayment tenure results in lower monthly instalments, resulting in lower interest rates. However, when you make repayments for a longer tenure, you pay more in terms of interest component.
• Relationship with Tata Capital Housing Finance Limited: A good relationship opens doors to numerous additional benefits. When you have good terms and make on-time payments, the bank considers you a trustworthy customer, allowing you to get a personal loan at lower interest rates. 

How to Get Low-Interest Rates on Tata Capital Housing Finance Limited Personal Loan?

You must keep certain things on track to get low-interest rates on Tata Capital Housing Finance Limited personal loans. Here is how to get a personal loan from Tata Capital Housing Finance Limited at low-interest rates:

• Applicants must try and maintain a CIBIL score equal to or above 750. It increases the chances of loan approval at lower interest rates.
• Explore pre-approved personal loan offers provided by banks and NBFCs to get instant approval and quick disbursal.
• Keep track of lenders offering personal loan interest rates during the festive season to unlock a better deal.
• Count on existing lenders to get a personal loan at lower interest rates.
• Visit Urban Money, an online financial marketplace, to compare Tata Capital Housing Finance Limited Personal Loan interest rates with other available lenders and choose the optimum one.

How to Calculate Tata Capital Housing Finance Limited Personal Loan Interest/EMI

You can easily calculate Tata Capital Housing Finance Limited personal loan EMIs using a personal loan EMI calculator. This advanced tool allows you to compute Tata Capital Housing Finance Limited personal loan EMIs in split seconds by entering a few details, including loan amount, interest rate and repayment tenure.

You can also use the mathematical formula below to compute personal loan EMIs. 

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

Where N is the number of instalments towards the borrowed amount, P is the borrowed personal loan amount, and R is the rate of interest. By inserting desirable values in the formula, you can compute monthly instalments.