In the dynamic landscape of entrepreneurship, when the urgency for a business loan arises, patience and strategic thinking become paramount. But, TATA Capital business loan emerges as a reliable ally in this journey, offering a financial lifeline precisely when it’s needed the most. As per the 2022 financial reports of Tata Capital, the company has disbursed 25,261 loans
TATA capital has a track record of disbursing loan amount within 2 hours. All you need some requisite documents to comply with the standard application process. And the best part, no collateral required to get the business loan and there’s a customized EMI option. You can apply for a loan amount up to ₹40,000 to ₹75 lakhs
Any grievance is actively tackled by the Tata Capital customer support team. Know more about TATA Capital Business Loan here.
About TATA Capital Business Loan
| Name | Tata Capital Financial Services Limited. |
| Founded (in Year) | 2007 |
| Company | Banking & Financial Services Company |
| Services | Banking & Finance Services |
| Headquarter | Mumbai |
| Business Loan Type | Vary |
| Loan Tenure (in Month) | 12 – 60 |
| Loan Amount | up to ₹40 Lakh ( up to ₹60 lakh in selected locations ) |
Tata Capital Financial Services Limited, established in 2007, has been a prominent Banking & Financial Services Company headquartered in Mumbai. Specializing in a spectrum of services within the realm of banking and finance, the company has become a trusted name in the industry.
For those seeking financial support for their businesses, Tata Capital offers a range of business loan types to cater to diverse needs. The loan tenure spans from 12 to 60 months, providing flexibility to borrowers based on their repayment preferences.
Depending on the location, individuals can avail themselves of loan amounts up to ₹40 lakh – ₹60 lakh. This versatility in loan offerings, coupled with reasonable tenure and amount options, positions Tata Capital as a comprehensive solution for entrepreneurs seeking financial assistance in their business endeavours.
TATA Capital Loan Interest Rates
| Business Loan Details | Interest Rate |
|---|---|
| Self-Employed Non-Professional Interest rate | 15%-25% |
| Self-Employed Doctors Interest rate | 12.00%-15.00% |
| Self-Employed Professional Other than Doctors Interest rate | 13.00%-17.50% |
TATA Capital offers different interest rates for their business loans based on the type of business and profession.
For self-employed individuals who are not doctors, the interest rates range from 15% to 25%. For self-employed doctors, the rates are lower, ranging from 12.00% to 15.00%. And for self-employed professionals other than doctors, the rates fall between 13.00% and 17.50%.
These interest rates provide flexibility for businesses. If you’re starting a new venture or expanding an existing one, TATA Capital’s Business Loan Interest Rates give you options. The rates start from a lower point, making it more affordable, and go up to a higher cap, accommodating different financial situations.
This way, individuals can choose a loan that fits their specific business needs, ensuring financial accessibility for various business endeavors.
TATA Capital Business Loan Types
| Overdraft Loan | Business Loan for Machinery |
| MSME Loan | Small Business Loan |
| Business Loan for Women | Working Capital Loan |
TATA Capital offers different types of business loans to meet various needs:
Overdraft Loan: This loan allows you to withdraw more money than your actual account balance, providing flexibility for your business.
Business Loan for Machinery: Specifically designed for businesses needing equipment or machinery, this loan helps you acquire the tools necessary for your operations.
MSME Loan: Tailored for Micro, Small, and Medium Enterprises (MSMEs), this loan supports the unique requirements of smaller businesses.
Small Business Loan: If you’re a small business owner, this loan is crafted to assist you in various financial aspects, helping your business thrive.
Business Loan for Women: This type of loan is designed specifically to encourage women entrepreneurs who are running or planning to start their own businesses.
Working Capital Loan: The working capital is like the fuel that keeps it running smoothly. This loan is meant to cover the day-to-day operational expenses of a business, such as salaries, rent, and utilities
Each of these loans caters to specific aspects of business needs, offering TATA Capital borrowers a range of options to choose from based on their requirements.
TATA Capital Business Loan Eligibility
| Eligibility Criteria | Requirements |
|---|---|
| Applicant Types | Self-employed individuals, Proprietorship Firms, Partnership Firms, Limited Liability Partnership Firms, Private Limited companies, Closely Held Public Limited companies, HUFs, Trusts, and Societies |
| Business Turnover | Must display an upward trend |
| Age Limit | Between 21 and 65 years old |
| Credit Score | Good CIBIL score of 650 or more |
| Profitability | Business should be profitable for at least three successive financial years |
| Document Requirement | Furnish a balance sheet of your company audited by a registered Chartered Accountant (CA) |
| Additional requirement | Banking balance should be at least Rs. 5000 Minimum 2 years business stability |
These eligibility criteria serve as guidelines for individuals and entities seeking a business loan from Tata Capital. Meeting these requirements demonstrates the financial stability and reliability of the applicant, ensuring a sound basis for loan approval.
Read More: HDFC Business Loan – Interest Rate, Eligibility, Documents
TATA Capital Business Loan Fees & Charges
| Charge Type | Amount/Percentage |
|---|---|
| Bounce Charges or Dishonor Charges | Up to Rs. 2000/- |
| Mandate Rejection Service Charge | ₹ 450/- |
| CCOD Annual Maintenance Charges | First Year: 0.75% or ₹ 1000, whichever is higher per year |
| Subsequent Years: 0.50% or ₹ 1000, whichever is higher per year | |
| Document Processing Charges | ₹ 1999 + GST |
| Statement of Accounts | Soft Copy – Nil |
| Branch walk-in – ₹ 250 + GST | |
| Foreclosure Charges | 4.5% on the future principal outstanding on the existing loan + Applicable taxes |
| No foreclosure allowed in the first 9 months. 6.5% charges if foreclosed within 9 months. | |
| Foreclosure Charges for Top Up | 2.25% on the future principal outstanding on the existing loan + GST |
| Charges levied only if the new rate is lower than the existing rate. | |
| Foreclosure Charges in CCOD Cases | 4.5% on the Dropped down limit amount + Applicable taxes |
| No foreclosure allowed in the first 9 months. 6.5% charges if foreclosed within 9 months. | |
| Loan Cancellation Charges | 2% of the loan amount or ₹ 5750, whichever is higher + GST |
| Payment Instrument Swapping | ₹ 550 + GST |
| Duplicate Repayment Schedule | Soft copy – Nil |
| Branch walk-in – ₹ 550 + GST | |
| Duplicate NOC | ₹ 550 + GST |
| Foreclosure Letter Charge | Soft copy – Nil |
| Branch walk-in – ₹ 199 + GST | |
| Post Dated Cheque Charges | ₹ 850 + GST |
| Stamp Duty | As applicable |
These charges cover various aspects of the loan process, from maintenance to foreclosures, providing transparency to borrowers about potential fees associated with their TATA Capital business loan. Keep in mind that charges may be subject to change, and it’s recommended to verify the latest information with Tata Capital.
Documents Required for TATA Capital Business Loan
Given below is a list of requisite documents required for Tata Capital Business Loan:
KYC Documents:
- Photo Identity Proof (PAN Card).
- Address Proof (Aadhaar Card, Voter ID Card, Driving License, or Passport).
Business Proof:
- Business Registration Certificate.
- Trade License.
- Establishment Certificate.
- GST Registration Certificate.
- Certified copy of the Partnership Deed Agreement or Sole Proprietorship Declaration.
Income Proof:
- Last two years’ Income Tax Returns (ITRs) with Computation of Income.
- Last two years’ Audited Financials with Tax Audit Report.
- Profit-loss statements of the last two years.
- Balance sheet duly audited by a Chartered Accountant.
Bank Statements:
- Current account bank statements for the last six months.
- GST statements for the last six months.
These documents collectively provide comprehensive information about your identity, business ownership, financial standing, and banking history, allowing Tata Capital to assess your eligibility for a business loan. Ensure that all documents are accurate, up-to-date, and duly verified before submission.
TATA Capital Business Loan Customer Care
| TATA Capital Business Loan Customer Care Number | 1860 267 6060 |
| TATA Capital Business Loan Email ID | [email protected] |
For HDFC Business Loan customer support, assistance is accessible daily, including Sundays and holidays, from 8:00 a.m. to 8:00 p.m. The contact numbers are listed above, and for international customers, a separate number is provided.
Business personal seeking help or information regarding their business loans can use the provided numbers.
HDFC Business Loan Login Page
| Apply for TATA Capital Business Loan | Apply Link |
To apply for a TATA Capital Business Loan, you can use the “Apply Link” provided. Simply click on the link, and it will take you to the application page. Fill in the required information and follow the steps outlined on the page.
How to Apply for HDFC Business Loan?
To apply for a business loan with Tata Capital in India, you have several convenient options:
Branch Visit: Visit your nearest Tata Capital branch with the necessary documents, where company’s executives will guide you through the application process.
Online Application: Fill out the business loan application form on the Tata Capital website for a quick and straightforward online application process.
Phone Application: Contact TATA Capital customer care number to request a call-back and apply for a business loan over the phone.
Virtual Assistant (TIA): Utilize TIA, TATA Capital’s 24×7 virtual assistant, to apply for an instant business loan from the comfort of your home or office.
Choose the method that best suits your preferences and needs to kickstart your business loan application with ease.
Additional Features of HDFC Business Loan
| EMI Type | Description | Ideal For |
|---|---|---|
| Fixed EMI | Your business loan EMI remains constant throughout the entire loan tenure. | Individuals with a steady and consistent income from their business. |
| Structured EMI | Allows flexibility in choosing a repayment process based on monthly income. | Suitable for individuals with varying or irregular income sources. |
TATA Capital offers flexibility in selection when it comes to TATA Capital Business Loan EMI. This table summarizes the features of two EMI options offered by Tata Capital. The Fixed EMI suits those with a stable income, while the Structured EMI provides flexibility for individuals with varying monthly earnings.
