Tata Capital Loans Against Property: Tata Capital, a subsidiary of Tata Sons, is a financial services company of Tata Group. Tata Capital is registered with the Reserve Bank of India, which accepts an importantly significant non-deposit with the main investment company. The company is engaged in a wide range of services and offers many financial products under the umbrella of Tata brand. Tata Capital provides loans to its customers against their property, which promotes attractive rates of interest, full transparency in credit processing, accelerated delivery of debt and minimal paperwork. Tata Capital offered best-in-class services, expert financial advice and commitment to high standard of customer service to its customers for every product.
Tata Capital provides loan against property which is a secured loan that ideally aimed to provide financial aid towards personal or business needs by utilizing the value of an owned property. This is a simple and secured loan which is provided to both the salaried and self-employed individuals alike on properties that are commercial or residential. The loan thus availed can be used for personal or business needs for any term. Tata Capital Loans Against Property gives you the power to use your residential, commercial or any alternative assets to fund your dreams. So you do not have to wait to convert your dream into reality.
Loans against property are secured loans, which are secured by a residential property or commercial property to be the mortgage. The final use of this loan should be towards any declared legal purpose. Take advantage of every opportunity you have on your existing property potential. Whether it is residential or commercial, you can get money through Loan Against Property facility at Tata Capital Housing Finance Limited. You can get the loan against the property for your any need, whether it is for personal needs, business requirements, renovation of property or asset acquisition. You can get a Loan Against Property to gather funds quickly and easily at attractive interest rates.
Features and Benefits of Tata Capital Loans Against Property:
- Tata Capital Property Loan is offered either for residential property mortgages or any commercial property owned by the customer.
- You can take the loan against property from Tata Capital for business needs, marriage, medical expenses, foreign education for your children and any other personal and professional needs.
- You can avail loan amount ranging from Rs. 5 Lakhs to Rs. 5 Crores.
- Tata Capital provides flexible tenure for loan repayment. You can repay your loan over a period of 1 year or 15 years.
- You can repay your loan easily through Electronic Clearing System (ECS) or even post-dated cheques.
- Tata Capital provide quick and easy loan process so that you can get the loan with the quick online application and minimal paperwork.
- Tata Capital offers Loans Against Property at affordable and attractive interest rates.
Eligibility Criteria for Tata Capital Loans Against Property:
- The age of applicant should be 25 years at the time of loan sanction.
- Age of the applicant should not be more than 60 years at the time of the loan.
- The applicants can be salaried, self-employed professional and self-employed non-professional.
- Salaried individuals who apply for the loan against property should be the employee of a Multi-National Company, Public Limited Company, large Private Limited Company, State Government, Central Government or PSUs.
- Doctors, architects or Chartered Accountants can avail the loan under the self-employed professional category.
- Traders, Retailers and Wholesalers can avail the loan under the self-employed non-professional category.
- The minimum income required for the loan against property scheme is Rs. 2.4 lakhs p.a. for salaried individual and Rs. 2.5 lakhs p.a. for self-employed professional and non-professional.
- The applicant should have a work experience in the same company or business for a minimum of 3 years.
- Firms, private limited companies and public companies also can take advantage of the loan against property from Tata Capital if they have the income of at least Rs. 3 lakhs per year and the business is at least 3 years and the profits shown for the last 2 years.
Interest Rate on Tata Capital Loans Against Property:
Tata Capital offers the attractive interest rate on loan against property ranging from 12% to 15% subject to property collateral and credit assessment.
|Type of Property||Fixed Rate of Interest for 3 Years||Floating Rate of Interest|
|Residential Property||12.25% – 12.75%||12.50% – 13.00%|
|Commercial Property||12.50% – 13.00%||12.75% – 13.25%|
Documentation for Tata Capital Loans Against Property:
|Purpose||Documents for Salaried||Documents for Self-employed|
|Proof of identity (any 1)||
|Address proof (any 1)||
|Property related documents||
Processing Fee and Charges Tata Capital Loans Against Property:
|Processing Fee||1% of the loan amount + service tax|
|Loan Cancellation Charges||Rs. 1,000 + service tax|
|Cheque Dishonour Charges||Rs. 700 per instance|
|Pre-payment Charges||2% charged if the amount prepaid is above 25% of the principal outstanding|
|PDC Swapping Charges||Rs. 550 per instance|
|Annual Account Maintenance Charges||Rs. 250|
|Charges for Photocopy of Original Title Deeds of the Property||Rs.250|
|Charges for Copy of Loan Agreement||No charges for the first instance and afterwards Rs.250|