While Aadhaar is not strictly mandatory, it is highly recommended as it simplifies the KYC process and can expedite loan approval.
Tata Capital Home Loan
Tata Capital Housing Finance Limited provides home loans beginning at 8.70% per annum for terms of up to 30 years and for amounts of up to Rs 5 crore. The lender provides a unique Affordable Housing Loan program for individuals from low and middle income brackets. Government workers, self-employed persons, and female applicants can also benefit from exclusive home loan programs provided by Tata Capital for buying and building their homes.
Tata Capital Home Loan Highlights
| Particulars | Details |
|---|---|
| Interest Rates | 8.70% p.a. onwards |
| Loan Amount | Rs 5 lakh to Rs 5 crore |
| Loan Tenure | Up to 30 years |
| Processing Charges | 0.25% of the loan amount |
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Tata Capital Home Loan Interest Rates
Tata Capital Home Loan interest rates begin at 8.70% per annum and above. The lender has not detailed its varying interest rates in relation to credit score, employer profile, repayment history, job role, monthly income, etc. Nonetheless, the HFC might take these factors into account, similar to how other lenders establish their home loan interest rates.
Tata Capital Home Loan Processing Fees and Charges
| Processing Fee | Up to 2% of loan amount |
| Foreclosure Charges | No charges on paying off loan through own fund |
| Delayed EMI Payments | 2.36% p.m. on the defaulted amount |
| Legal Charges | On Actuals |
| Collection Agency | On Actuals |
Types of Tata Capital Home Loan
1. Tata Capital Home Extension Loan
- Purpose: Tata Capital Housing Finance offers Home Extension Loans
- Loan Amount: Rs 2 lakh to Rs 5 crore
- Tenure: Up to 30 years
2. Tata Capital Affordable Housing Loan
- Purpose: The Tata Capital Affordable Housing Loan Scheme is a unique home loan program designed for low or middle-income individuals to buy their own homes.
- Loan Amount: Rs 2 lakh onwards
- Tenure: Up to 30 years
3. Tata Capital Home Loan Overdraft
- Purpose: Tata Capital provides a Home Loan Overdraft option for current home loan customers to secure funds for personal or business needs. Home loan borrowers have the ability to access funds from their associated home loan overdraft account up to the approved overdraft limit and can repay according to their cash flow situation. Interest is charged solely on the withdrawn amount until it is repaid.
- Loan Amount: Rs 5 lakh to Rs 2 crore
- Tenure: Up to 15 years
4. Tata Capital Home Loan for Self-Construction
- Purpose: Consumers can avail Tata Capital Home Loan for Self-Construction for constructing their houses on plots already owned by them.
- Loan Amount: Rs 5 lakh-Rs 5 crore
- Tenure: Up to 30 years
5. Tata Capital Home Loan Quick Cash
- Purpose: Tata Capital Housing Finance provides a Home Loan Quick Cash option, which is a pre-approved personal finance addition, to its current home loan customers. With this option, the borrower can secure an extra loan in addition to their current home loans. Both online and offline options are offered.
- Tenure: Up to 7 years
6. Tata Capital Home Loan Balance Transfer
Purpose: Home loan customers from other banks and HFCs can utilize the Tata Capital Home Loan Balance Transfer option to shift their current home loans to Tata Capital at reduced interest rates.
7. Tata Capital Home Loan Top-up
Purpose: Tata Capital Housing Finance provides a Home Loan Top-up option for its current home loan clients, allowing them to secure an additional loan in addition to their existing home loans.
Other Home Loan Products offered by Tata Capital Housing Finance
1. Tata Capital Home Loan for Government Employees
- Purpose: Employees of Central/State government can avail Tata Capital Home Loan for Government Employees for purchasing or constructing their houses.
- Loan Amount: Rs 5 lakh-Rs 5 crore
- Tenure: Up to 30 years
2. Tata Capital Home Loan for Self-Employed
- Purpose: Self-employed individuals can avail Home Loan to purchase or construct their houses.
- Loan Amount: Rs 5 lakh-Rs 5 crore
- Tenure: Up to 30 years
3. Tata Capital Home Loan for Women
- Purpose: Tata Capital Housing Finance offers Home Loan for Women (working or housewife) to finance the purchase or construction of their houses.
- Loan Amount: Rs 5 lakh-Rs 5 crore
- Tenure: Up to 30 years
Home Loan Interest Rates of Tata Capital Vs Other Top Lenders
| Banks/NBFCs | Interest Rate (%) | Action |
|---|---|---|
| Aadhar Housing Pvt Ltd | 10.50% onwards | Apply Now |
| Axis Bank | 8.55% onwards | Apply Now |
| Bajaj Housing Finance | 8.50% onwards | Apply Now |
| HSBC | 8.45% onwards | Apply Now |
| Godrej Housing Finance | 8.75% onwards | Apply Now |
| Capri Global Housing Finance Ltd | 10% onwards | Apply Now |
| Bank of Baroda | 8.40% onwards | Apply Now |
| DBS Bank | 8.50% onwards | Apply Now |
| Edelweiss Housing Finance Ltd | 8.70% onwards | Apply Now |
| Indiabulls | 8.80% onwards | Apply Now |
| Federal Bank | 8.60% onwards | Apply Now |
| HDFC Ltd. | 8.60% onwards | Apply Now |
| ICICI Bank | 8.65% onwards | Apply Now |
| ICICI Home Finance | 8.90% onwards | Apply Now |
| Kotak Mahindra Bank | 8.50% onwards | Apply Now |
| PNB Housing Finance | 8.60% onwards | Apply Now |
| State Bank of India | 8.45% onwards | Apply Now |
| IIFL | 8.90% onwards | Apply Now |
| Aditya Birla Housing Limited | 8.75% onwards | Apply Now |
| Tata Capital Housing Finance | 8.70% onwards | Apply Now |
| Piramal Housing Finance Ltd | 10.50% onwards | Apply Now |
Tata Capital Home Loan Eligibility Criteria
The home loan eligibility criteria set by Tata Capital Housing Finance is mentioned below:
- Indian Residents/NRIs/PIOs
- Job Profile: Salaried or Self Employed.
- Minimum age: 24 years
- Maximum age: 65 years
- CIBIL/Credit Score: 750 and above
- Minimum Monthly Income: Rs 30,000 for salaried
- Work Experience: Minimum 2 years for salaried applicants, 3 years for self-employed
Tata Capital Home Loan Documents Required
For Salaried Individuals
- ID Proof: Copy of Voter ID, PAN card, Driving License, Passport, Aadhar Card.
- Address Proof: Property Tax Receipt, Voter ID, Utility Bill, Property Registration Documents, Bank Statement
- Age Proof: Copy of passport, Birth Certificate, Life Insurance Policy, Driving License, PAN card, School Leaving Certificate
- Income Proof: Copy of salary slip for past 3 months, salary bank account statement for past 6 months, yearly increment letter, appointment letter, certified true copy of Form 16
- Processing fee cheque to be issued from your salary account
- Bank statements or loan statements for existing loan details
For Self-Employed Individuals
- ID Proof: Copy of Voter ID, PAN card, Driving License, Passport, Aadhar Card
- Age Proof: Copy of passport, Birth Certificate, Life Insurance Policy, Driving License, PAN card, School Leaving Certificate
- Address Proof: Property Tax Receipt, Voter ID, Utility Bill, Property Registration Documents, Bank Statement
- Business Proof: ITR for last 2 years, business profile on a letterhead, or Business Registration Certificate for commencement of business
- Income Proof: Current statement of an operative bank account for last 6 months, Profit and Loss Projection Statement for last 3 years, Bank statement of CC/OD facilities (if taken) for past 6 months
- Processing fee cheque issued from the business account of the applicant
- Details of existing loans provided through loan statements or bank statements.
Tata Capital Home Loan EMI Calculator
If you wish to find out what your EMI will amount to before applying for a home loan, you can do so by using a home loan EMI calculator. Being aware of what will be withdrawn from your bank account each month will assist you in managing your finances more effectively and in planning more efficiently. You can utilize the Home Loan EMI Calculator to calculate the same.
To compute your EMI, you must provide information regarding your overall home loan amount, processing charge, and interest rate. After you select the ‘Calculate’ option following the entry of all the aforementioned details, the EMI will be shown. A comprehensive amortisation report will also be provided to clarify the principal and interest elements of your loan.
How to Apply for a Home Loan Through OneNDF
When seeking a mortgage loan at OneNDF, you won’t need to navigate a pile of paperwork or endure a tedious process. Here’s the approach to take:
- Visit the official website of OneNDF and register or login.
- Register on the funds using your mobile number and generate a one time password.
- Upload any required financial or identification documents.
- Complete the mortgage application form.
- Through OneNDF, you will get in touch with numerous lenders that are ready to provide you with great rates on their mortgages.
That’s all! Your application has been sent. A member of our team will reach out to you soon to assist you with the upcoming steps.
FAQs
Tata Capital requires home loan applicants to have credit scores of about 750 and above.
Indeed, you may foreclose the home loan obtained from Tata Capital. No fees are incurred for making prepayments on home loans.
To obtain your home loan statement, visit the customer portal where you can log in using the information given in the welcome letter from the lending institution. You can likewise acquire the Provisional Interest Certificate in the same way.
You can include an immediate family member like your spouse, parents, children, or siblings as a co-applicant when applying for a home loan. Every co-owner of the property needs to be a co-applicant for the loans. Nevertheless, co-applicants do not have to be co-owners of the property.
