About Tata Capital Home Loan
Tata Capital Housing Finance Limited helps you realize your dreams faster. Whether you are buying a plot for house construction, building a house, purchasing an apartment, buying a resale property or remodeling your current home, Tata Capital Home Loan covers it all. Are you someone looking for Home Loan options? Then, Tata Capital Home Loan could be the best option for you. The loan is provided to salaried individuals, self-employed and businessmen for their specific needs. Individuals can choose home loans for tenures ranging from 12 months to 360 months.
Tata Capital Home Loan Interest Rate November 2023
| Particulars | Description |
|---|---|
| Interest Rates | 8.95% - 12.00% |
| Loan Amount | From ₹2 lakhs to ₹10 crores |
| Tenure | 20 years subject to your retirement age |
| Processing Fees | ₹5700 (Initial Login Fee) |
| Pre-payment or Foreclosure | Penalty-free prepayment of upto a maximum of 25% of principal outstanding in a year. |
| No foreclosure charges on floating rate loans sanctioned to individuals or on fixed rate loans being pre-closed out of borrower's own sources. |
What are the Eligibility Criteria for getting a Tata Capital Home Loan?
To apply for a home loan, you will need to meet the following conditions.
For salaried Individuals:
- The applicant must be between 24 and 65 years of age (at the time of loan completion).
The minimum monthly income must be ₹30,000.
The applicant must have a work experience of at least 2 years.
For Self-employed Individuals:
- The age must be between 24 and 65 years of age (at the time of loan completion)
- The total exprience of the applicant must be a minimum of 3 years in the existing line of business.
How can you use the Tata Capital Home Loan Eligibility Calculator?
You can use the Tata Capital Home Loan Eligibility Calculator to figure out the estimated loan amount you can get. All you need to do is mention a few details in the calculator. These details include –
- Your Net Monthly Income
- Tata Capital home loan rate of interest
- Existing Monthly Obligations (If there are any)
- Desired Tenure (Number of months for which you want to service the loan)
After all that, the calculator will show you the maximum eligible loan amount and the EMI amount within a fraction of a second.
Tata Capital Home Loan EMI Calculator
With the help of Tata Capital Home Loan EMI Calculator, know your estimated EMI along with a break-up of principal and interest repayments. Just enter the loan amount, interest rate and tenure in the calculator and see the repayment summary. At first, you’ll see the EMI and overall interest outgo. Below this, you can see the amortization schedule showing the break-up of repayments. This schedule will only help you plan your repayment better.
For example: A steel manufacturer having a business turnover of ₹2 crores wants to apply for a home loan of ₹20 lakhs payable over 20 years at varying interest rates. The home loan will be used for purchasing a ready-made flat in a posh-locality of Greater Noida. You wish to know the total equated monthly installments along with the interest amount that will be applicable to your home loan. The following table specifies the EMI, interest outgo and the total amount (EMI+Interest) payable on your home loan.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| Loan Amount | Interest Rate | Tenure | Monthly Instalment | Total Interest Amount | Total Amount |
|---|---|---|---|---|---|
| ₹ 20,00,000 | 7.75% | 1 | ₹ 1,73,746 | ₹ 84,949 | ₹ 20,84,949 |
| ₹ 20,00,000 | 7.75% | 2 | ₹ 90,227 | ₹ 1,65,441 | ₹ 21,65,441 |
| ₹ 20,00,000 | 7.75% | 3 | ₹ 62,442 | ₹ 2,47,924 | ₹ 22,47,924 |
| ₹ 20,00,000 | 7.75% | 4 | ₹ 48,591 | ₹ 3,32,391 | ₹ 23,32,391 |
| ₹ 20,00,000 | 7.75% | 5 | ₹ 40,314 | ₹ 4,18,835 | ₹ 24,18,835 |
| ₹ 20,00,000 | 7.75% | 6 | ₹ 34,823 | ₹ 5,07,245 | ₹ 25,07,245 |
| ₹ 20,00,000 | 7.75% | 7 | ₹ 30,924 | ₹ 5,97,608 | ₹ 25,97,608 |
| ₹ 20,00,000 | 7.75% | 8 | ₹ 28,020 | ₹ 6,89,909 | ₹ 26,89,909 |
| ₹ 20,00,000 | 7.75% | 9 | ₹ 25,779 | ₹ 7,84,131 | ₹ 27,84,131 |
| ₹ 20,00,000 | 7.75% | 10 | ₹ 24,002 | ₹ 8,80,255 | ₹ 28,80,255 |
| ₹ 20,00,000 | 7.75% | 11 | ₹ 22,563 | ₹ 9,78,259 | ₹ 29,78,259 |
| ₹ 20,00,000 | 7.75% | 12 | ₹ 21,376 | ₹ 10,78,121 | ₹ 30,78,121 |
| ₹ 20,00,000 | 7.75% | 13 | ₹ 20,383 | ₹ 11,79,815 | ₹ 31,79,815 |
| ₹ 20,00,000 | 7.75% | 14 | ₹ 19,544 | ₹ 12,83,315 | ₹ 32,83,315 |
| ₹ 20,00,000 | 7.75% | 15 | ₹ 18,826 | ₹ 13,88,593 | ₹ 33,88,593 |
| ₹ 20,00,000 | 7.75% | 16 | ₹ 18,206 | ₹ 14,95,618 | ₹ 34,95,618 |
| ₹ 20,00,000 | 7.75% | 17 | ₹ 17,668 | ₹ 16,04,360 | ₹ 36,04,360 |
| ₹ 20,00,000 | 7.75% | 18 | ₹ 17,198 | ₹ 17,14,785 | ₹ 37,14,785 |
| ₹ 20,00,000 | 7.75% | 19 | ₹ 16,784 | ₹ 18,26,861 | ₹ 38,26,861 |
| ₹ 20,00,000 | 7.75% | 20 | ₹ 16,419 | ₹ 19,40,553 | ₹ 39,40,553 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 43,553 | ₹ 1,53,475 | ₹ 19,56,446 |
| 2 | ₹ 47,051 | ₹ 1,49,977 | ₹ 19,09,395 |
| 3 | ₹ 50,829 | ₹ 1,46,198 | ₹ 18,58,566 |
| 4 | ₹ 54,912 | ₹ 1,42,116 | ₹ 18,03,653 |
| 5 | ₹ 59,322 | ₹ 1,37,705 | ₹ 17,44,331 |
| 6 | ₹ 64,086 | ₹ 1,32,941 | ₹ 16,80,245 |
| 7 | ₹ 69,233 | ₹ 1,27,794 | ₹ 16,11,011 |
| 8 | ₹ 74,793 | ₹ 1,22,234 | ₹ 15,36,217 |
| 9 | ₹ 80,800 | ₹ 1,16,227 | ₹ 14,55,416 |
| 10 | ₹ 87,290 | ₹ 1,09,737 | ₹ 13,68,126 |
| 11 | ₹ 94,300 | ₹ 1,02,727 | ₹ 12,73,825 |
| 12 | ₹ 1,01,874 | ₹ 95,153 | ₹ 11,71,951 |
| 13 | ₹ 1,10,056 | ₹ 86,971 | ₹ 10,61,895 |
| 14 | ₹ 1,18,895 | ₹ 78,133 | ₹ 9,42,999 |
| 15 | ₹ 1,28,443 | ₹ 68,584 | ₹ 8,14,555 |
| 16 | ₹ 1,38,759 | ₹ 58,268 | ₹ 6,75,796 |
| 17 | ₹ 1,49,903 | ₹ 47,124 | ₹ 5,25,892 |
| 18 | ₹ 1,61,943 | ₹ 35,085 | ₹ 3,63,949 |
| 19 | ₹ 1,74,949 | ₹ 22,078 | ₹ 1,88,999 |
| 20 | ₹ 1,89,105 | ₹ 8028 | ₹ 0 |
Documents Required
There are certain documents that you’ll need to submit while applying for a home loan. Both salaried and self-employed individuals have to submit a few documents which you can see below.
For Salaried Individuals:
- Age Proof – A copy of Passport/ Driving Licence/ PAN Card
- Photo Identity Proof – A copy of Aadhar Card/ Voter ID Card/ Passport
- Address Proof – A copy of Bank statements/ Property Taxes/ Utility Bills
- Salary Slips for the last three months
- Income Proof – A copy of Salary Bank Account Statement for the Last Six Months
- Existing Loan Details (If any)
- Processing Fee Cheque
For Self-employed Individuals:
- Age Proof – A copy of Passport/ Driving Licence/ PAN Card
- Photo Identity Proof – A copy of Aadhar Card/ Voter ID Card/ Passport
- Address Proof – A copy of Bank statements/ Property Taxes/ Utility Bills
- Business Proof – A copy of the last two years’ Income Tax Returns (ITR)
- Income Proof – A copy of the Current Account Statement for the Last Six Months
- Existing Loan Details (If Any)
- Processing Fee Cheque
What are Some of the Exciting Features and Benefits?
- Attractive Interest Rates at the lowest possible EMI
- Flexi EMIs with Higher Home Loan Amount Eligibility
- Quick processing and doorstep services
- Minimal documentation Process
- Flexibility to choose from a list of Approved projects of Tata Capital Home Loan
- Higher income eligibility for Self Employed
- Wide range of surrogates to ensure for Self Employed professional including Banking Surrogates, Gross Reciepts programme
- Personal Discussion based loan approval
Tata Capital Home Loan Customer Care Contact Number
If you face any difficulty regarding home loan interest rates, tenure, loan amount or any queries relating to eligibility criteria or processing fees, you can contact Tata Capital home loan customer care representatives on 1800-209-6060 or write an email at the email address shown on the website.
Tata Capital Home Loan FAQs
1. How to apply for a Tata Capital home loan online?
You can apply for the Tata Capital home loan online either on the bank’s official website and fill up some basic details in the home loan applicant form or you can also apply through Wishfin.
2. Which is the best Tata Capital home loan scheme?
The best Tata Capital home loan scheme depends on the applicant’s needs and requirements. The home loan that matches your needs is the best scheme for you.
3. Should you take a housing loan from Tata Capital?
Yes, you can take a housing loan from Tata Capital because of its very affordable interest rates and a hassle-free loan execution process.
4. What are the different types of Tata Capital home loan?
Tata Capital provides you with different types of home loan schemes such as land purchasing for construction, home extension loans, balance transfer loans and many more.
5. What is maximum home loan tenure in Tata Capital?
The maximum home loan tenure in Tata Capital is of upto 30 years, subjected to the retirement age of the borrower.
6. How long does it take for Tata Capital home loan approval?
For salaried borrowers, it may take from 4 days to a week to approve your Tata Capital home loan application. For self-employed applicants, it may take around 7 to 8 days to approve your home loan application.
7. What is Tata Capital home loan processing fee?
The Tata Capital home loan processing fee is 0.5% of the loan amount plus GST.
8. What is the minimum CIBIL score for Tata Capital home loan
The minimum CIBIL score for Tata Capital home loan is 650.
9. What is the minimum salary to apply for a home loan in Tata Capital?
The minimum salary to apply for a home loan in Tata Capital should be Rs 30,000
10. What is the minimum home loan amount in Tata Capital?
Tata Capital home loans provides you with a minimum home loan amount of Rs 5 lakhs.
11. What is the maximum limit of a Tata Capital housing loan?
The maximum limit of a Tata Capital housing loan is up to 5 crores.
12. Can a pensioner get a housing loan from Tata Capital?
Yes, a pensioner can get a housing loan from Tata Capital depending on the eligibility criteria of the applicant such as his age, CIBIL score and monthly income.
13. How much home loan can I get on 50000 salary from Tata Capital?
According to the Tata Capital home loan eligibility calculator, the home loan that you can get on an INR 50,000 monthly salary, with an interest rate of 7.75% (the lowest Tata home loan interest rate) and a tenure of 30 years, can be of around 42 lakhs. Rest, it depends on your other eligibility factors.
14. How much housing loan can I get on an 80000 salary from Tata Capital?
According to the Tata Capital home loan eligibility calculator, the home loan that you can get on an INR 80,000 monthly salary, with an interest rate of 7.75% (the lowest Tata home loan interest rate) and a tenure of 30 years, can be of around 74 lakhs.
