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.
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.
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.
To avail an Unsecured Business Loan from TATA Capital, following criteria has been laid down:
The documents required for availing business loan are basic and include:
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|
|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|
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: