TATA CAPITAL BUSINESS LOANS

Tata Capital Limited is a subsidiary of Tata Sons Limited. The company is a registered NBFC with the Reserve Bank of India. The company is customer-centric and aims to develop and provide banking solutions under the Tata Capital brand.Tata Capital caters to customers from all fields like retail, corporates, institutions and individual customers. The Tata group is a world-renowned business conglomerate and through its subsidiary Tata Capital, the group aims at bringing in the same expertise and experience in the financial services sector.
You can avail Tata Capital business loans for short-term working capital, business expansion, raw material purchase, etc. that come with following features.

Features of TATA Capital Unsecured Business Loans

Loan Amount Range
Minimum of Rs 3 lakhs to a maximum of Rs 50 lakhs

Loan Tenure Range
Loan tenure can be between 12 to 36 months

Multiple Loan Programs
You can access the necessary funding to sustain in this competitive world. These loan programs are assessed based on business turnover, cash profit, and banking habits. The loan programs are also available for qualified doctors.

Transparent Interest Rates
Business loan interest rates are based on diverse factors such as the profile of the borrower, cost of funds, loan tenure and market dynamics. Interest rates offered by Tata Capital are competitive and in line the best market practices.

Flexi EMIs
A unique product offered by Tata Capital. Flexi EMI option helps you to customize your loan repayment as per your requirement. You can choose a repayment plan that suits your cash flows. These Flexi EMI plans include:

Step Up Flexi EMI Plan – With this plan, you can increase your fixed monthly EMIs each year to meet the incremental profit.

Step Down Flexi EMI Plan – This option allows you to lower your EMIs gradually, as your business starts making more profit, in order to repay your loan faster.

Bullet Flexi EMI Plan – In this option, you can repay your loan for business periodically to significantly lower your EMI.

Hassle Free Disbursement
Business loans offered by Tata Capital are usually approved within 3 business days subject to submission of a duly-filled loan application and all relevant documents.

No Guarantors and No Collaterals
TATA Capital Business loans enable you to avail a loan without any guarantor or collateral.

Online Account Access
Every information regarding your business loan can be conveniently accessed online. You can keep a track on interest certificate, repayment track, payment schedule etc. simply by logging in on its website using your loan account number.

Eligibility Criteria

To avail an Unsecured Business Loan from TATA Capital, following criteria has been laid down:

  • Aged between 25 and 65 years
  • Profitable business for three years
  • At least Rs 40 lakhs turnover per year
  • Growing turnover
  • ITR for at least Rs 3 lakhs
  • CA audited financials
  • Business Loan amount up to Rs 50 lakhs
  • Loan for business – period up to 3 years
  • Any form of ownership
    • Proprietorship
    • Partnership
    • Private Limited Company
    • Closely held Public Limited Company
    • Society
    • Trust

Documentation

The documents required for availing business loan are basic and include:

  • Application form with passport-sized photographs
  • KYC documents(ID and Address Proof)
  • ITR returns for two years
  • P/L statement and balance sheet for two years
  • 6-month bank certified bank statement
  • Ownership documents
  • Proof of business entity documents issued by statutory authorities

Interest Rates and Fees

Interest Rate offered is in the range of 18 to 24%
The fees and charges pertaining to the business loans are as per the table below:

PDC Charges Rs. 850
Bouncing Charges (per event) Rs. 450
Cancellation Charges 2% of business loan amount or Rs. 5750 whichever higher
Duplicate NOC Rs.550
Swapping Charges (for payment mandate) Rs.600
Foreclosure Charges 4.5% of the principal outstanding at the time of foreclosure along with applicable taxes, if any
Foreclosure Charges for Top Ups 2% on future principal outstanding on existing business loan + GST
Duplicate Repayment Schedule Rs. 550
Legal action under Section 138 of Negotiable Instruments Act, 1881, and/or Section 25 of Payments and Settlements Systems Act, 2007 Rs. 3400
Initiation of Arbitration proceedings Rs. 4000
Obtaining of Receiver Order from a District Court Rs. 4000
Obtaining of Receiver Order from the High Court Rs. 13500
An issue of Legal Notice (per notice) Rs. 125 to Rs. 300
Execution of Award Rs. 5600

FAQs

What is the loan amount that I can avail?
An unsecured business loan can be availed from Rs. 3 lakhs up to Rs. 50 lakhs.

What is the tenure for TATA Capital Business Loans?
The business loan tenure can range from 12 months to 36 months.

Is the interest rate, fixed or floating?
The interest rate on TATA Capital Business Loans is fixed.

What is the mode of repayment?
You can repay by Post Dated Cheques, Electronic Clearance Service (ECS) or Direct Debit.

What is the eligibility criteria for a business loan?
Business loans are offered to both self-employed professionals and non-professionals. Among self-employed professionals, exclusive loans for doctors with special features such as competitive business loan interest rates are also offered. The target segment under Business Loans is listed below:

  • Sole Proprietorship
  • Partnership Firm
  • Private Limited Companies
  • Closely held Public Limited Companies
  • Societies
  • Trusts
  • Hospitals, Nursing Homes, Diagnostic Centers, Pathological Labs