Loan Against Property

Tata Capital Loans Against Property

Tata Capital Loans Against Property

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.

Explore More: Tata Capital Loans Against Property

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%

Axis Bank Loan Against Property Interest Rate

Documentation for Tata Capital Loans Against Property:

Purpose Documents for Salaried Documents for Self-employed
Loan Application
  • Properly filled loan application form
  • Passport size photograph
  • Properly filled loan application form
  • Passport size photograph
Proof of identity (any 1)
  • Passport
  • Voter ID Card
  • Aadhar Card
  • Driving License
  • PAN Card
  • Passport
  • Voter ID Card
  • Aadhar Card
  • Driving License
  • PAN Card
Address proof (any 1)
  • Recent copy of Telephone Bill
  • Electricity Bill
  • Water Bill
  • Piped Gas Bill
  • Driving License
  • Aadhar Card
  • Recent copy of Telephone Bill
  • Electricity Bill
  • Water Bill
  • Piped Gas Bill
  • Driving License
  • Aadhar Card
Property related documents
  • Permission for construction
  • Registered Agreement for Sale
  • Allotment Letter
  • Stamped Agreement for Sale
  • Occupancy Certificate (in case of ready to move property)
  • Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
  • Payment Receipts or bank A/C statement which showing all the payments made to Builder/Seller
  • Permission for construction
  • Registered Agreement for Sale
  • Allotment Letter
  • Stamped Agreement for Sale
  • Occupancy Certificate (in case of ready to move property)
  • Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
  • Payment Receipts or bank A/C statement which showing all the payments made to Builder/Seller
Income proof
  • Current Salary Slip or Salary Certificate
  • Copy of Form 16 for last 2 years
  • copy of IT Returns for last 2 financial years which is acknowledged by IT Dept.
  • IT returns for last 3 years
  • Balance Sheet & Profit & Loss A/c for last 3 years
  • Business License Details
  • TDS Certificate (Form 16A, if applicable)
  • Certificate of qualification (for C.A./ Doctor and other professionals)
Account statements
  • Bank A/c. Statement (Individual) for last six months
  • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
  • Bank A/c. Statement (Individual) for last six months
  • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

Processing Fee and Charges Tata Capital Loans Against Property:

Purpose Applicable Charges
Processing Fee 1% of the loan amount + service tax
CERSAI Charges
  • Rs.250 for loans up to Rs. 5 lakhs
  • Rs.500 for loans up to Rs. 5 lakhs
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 Charges Rs.750
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

 

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