Tata Capital offers home loan products to accommodate various financial needs, with interest rates starting at 8.75% per annum. Borrowers can access loan amounts ranging from INR 2 lakhs to INR 5 crores, with flexible tenures of up to 30 years. Tata Capital provides options for home purchase, self-construction, and home extensions, along with specialized loans for government employees and women. The application process is streamlined and fully digital. This allows for quick approvals and flexible repayment plans tailored to individual financial situations.
Tata Capital Housing Finance Overview
Tata Capital Housing Finance Limited (TCHFL), a subsidiary of Tata Capital Limited and part of the Tata Group, is a prominent player in India’s housing finance sector. The company offers home loan products to both salaried and self-employed individuals, including home loans, loans against property, and affordable housing loans.
- The growth of the company is driven by the company's focus on digital transformation to improve efficiency and customer experience.
- TCHFL operates nationwide with 187 branches and has partnered with over 80 fintech companies to streamline processes.
- The company offers home loans starting at 8.75% per annum, with financing of up to 90% of the property value (subject to eligibility and loan type) and tenures up to 30 years.
- Processing fees are capped at 0.5 to 1% of the loan amount, and there are no prepayment charges for loans repaid with the borrower’s own funds.
TCHFL continues to focus on delivering flexible, affordable, and customer-focused housing finance solutions.
Benefits of Tata Capital Home Loan
Tata Capital Home Loans offer several advantages that make them an attractive choice for homebuyers in India. The several benefits are as given below:
- Tata Capital provides home loans at affordable interest rates starting at 8.75% per annum, ensuring lower monthly EMI payments.
- Borrowers can choose tenures ranging from 5 to 30 years, giving them flexibility in managing EMIs according to their financial capacity.
- Tata Capital offers the benefit of no prepayment charges on loans repaid through personal funds, allowing borrowers to pay off their loans faster without incurring additional fees.
- Home loan amounts range from ₹5 lakh to ₹5 crore, catering to a wide range of customers, from first-time buyers to those seeking higher-value loans.
- Tata Capital provides specialized home loan options, including loans for women, government employees, home extension loans, and affordable housing.
- The loan approval process is quick and efficient, with minimal documentation required.
Tata Capital Loan Benefits
| Feature | Details |
| Interest Rates | Starting from 8.75% per annum for select schemes; typically ranges from 8.75% to 10.10% depending on the loan type. |
| Loan Amount | Available from ₹5 lakhs to ₹5 crores, catering to different financial needs. |
| Loan Tenure | Flexible terms of up to 30 years, allowing borrowers to choose repayment periods that suit their financial situation. |
| Processing Fees | Ranges from 0.5% to 2% of the loan amount, depending on the loan amount. |
| Eligibility Criteria | Minimum monthly income of ₹30,000, with a credit score of 750 or above preferred. |
| Types of Loans Offered | - Home Purchase Loan- Home Extension Loan- Affordable Housing Loan- Self-Construction Loan- Home Loan Overdraft- Balance Transfer Loans. |
| Prepayment Options | No charges for prepayment using own funds; nominal fees apply for prepayments made using third-party funds. |
| Tax Benefits | Eligible for tax deductions under Section 24 (up to ₹2 lakh) and Section 80C (up to ₹1.5 lakh) for interest paid and principal repayment, respectively. |
| Flexibility in Repayment | Options for fixed or floating interest rates, with the ability to adjust loan tenure during the loan period. |
Eligibility Criteria for Tata Capital Home Loan
To qualify for a home loan from Tata Capital, applicants must meet specific eligibility criteria that vary slightly depending on their employment status, whether they are salaried or self-employed.
- Applicants must be between the ages of 21 and 65 years old.
- The loan is available to Indian residents, Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs).
- Both salaried employees and self-employed professionals or entrepreneurs are eligible to apply.
- For salaried employees, there is a minimum monthly income requirement of ₹30,000. Additionally, applicants should have at least two years of work experience in their current job.
- On the other hand, self-employed professionals must have a minimum of three years of experience in the same business.
- A good credit score is also essential; typically, a minimum score of 750 on the CIBIL scale is required.
When applying for a home loan, applicants need to submit various documents to support their application. These documents include identity proof such as an Aadhaar card, passport, or driving license; proof of residence like utility bills or rental agreements; proof of income including salary slips, bank statements, or income tax returns; and property documents such as the sales deed, property tax receipts, and a No Objection Certificate (NOC) from relevant authorities.
The maximum loan amount available to applicants depends on several factors, including their income level, credit score, and existing financial liabilities. To help potential borrowers gauge their eligibility, Tata Capital provides a Home Loan Eligibility Calculator that allows them to input their financial details and receive an estimate of their eligibility.
| Applicant Type | Age Range | Minimum Monthly Income | Minimum Annual Income | Loan Amount | Repayment Tenure |
| Salaried Individuals | 24 - 65 years | ₹30,000 | Not specified | Up to 90% of property value | Up to 30 years |
| Self-Employed Individuals | 24 - 65 years | Not specified | ₹3,00,000 | Up to 90% of property value | Up to 30 years |
| NRIs | 24 - 65 years | Not specified | ₹5,00,000 | Up to 80% of property value | Up to 30 years |
| Pensioners | 58 - 70 years (at loan maturity) | ₹20,000 (or pension) | Not specified | Up to 80% of property value | Up to 15 years |
| Co-Applicants | Both applicants must meet eligibility criteria | Combined income considered | Not specified | Combined loan amount based on both incomes | Up to 30 years |
Income Level and Corresponding Loan Amounts
The following table summarizes the maximum loan amounts available based on different monthly salary levels:
| Monthly Salary | Maximum Loan Amount |
| ₹25,000 | ₹20,00,000 |
| ₹30,000 | ₹25,00,000 |
| ₹35,000 | ₹27,00,000 |
| ₹40,000 | ₹32,00,000 |
| ₹45,000 | ₹34,00,000 |
| ₹50,000 | ₹38,00,000 |
| ₹55,000 | ₹42,00,000 |
| ₹60,000 | ₹47,00,000 |
| ₹65,000 | ₹50,00,000 |
Documentation Required for Tata Capital Home Loan
To apply for a Tata Capital Home Loan, applicants must provide specific documentation to verify their identity, income, and the property involved. A detailed list of the required documents based on the applicant type is as given below :
Documents Required for Salaried Applicants
- Application Form: Duly filled and signed with a passport-size photograph.
- Appointment Letter: Proof of employment.
- Salary Slips: For the last 3 months.
- Bank Statements: For the last 6 months.
- Form 16: Income tax return acknowledgment.
- Employer's Certificate: Certified letter from the employer confirming employment.
- Yearly Increment Letter: If applicable.
- Processing Fee Cheque: In favor of Tata Capital Housing Finance Ltd.
- Existing Loan Details: If any.
Documents Required for Self-Employed Applicants
- Application Form: Duly filled and signed with a passport-size photograph.
- Business License: Proof of business registration.
- Profit and Loss Account Statements: Attested by a Chartered Accountant for the last 3 years.
- Bank Statements: For the last 6 months showing loan repayments.
- Partnership Deed: If applicable (for partnership businesses).
- Certificate of Practice: For professionals like doctors or lawyers.
- Business Address Proof: Such as utility bills or lease agreements.
- Processing Fee Cheque: In favor of Tata Capital Housing Finance Ltd.
- Existing Loan Details: If any.
Tata Capital Home Loan Interest Rates
Tata Capital's home loan interest rates are competitive, starting from 8.75% per annum for salaried individuals and 8.85% per annum for self-employed individuals. These rates can vary based on factors such as the applicant's credit score and income profile. Additionally, Tata Capital offers flexible options between fixed and floating interest rates, allowing borrowers to choose what best fits their financial situation. The interest rates are subject to change and may reflect broader economic conditions influenced by the Reserve Bank of India's policies
The different interest rates of Tata Capital Home Loan are as given below:
| Feature | Tata Capital | HDFC | SBI | ICICI |
| Interest Rate (p.a.) | 8.75% onwards (up to 10.10% for specific schemes) | 8.70% onwards | 8.60% onwards | 8.75% onwards |
| Loan Amount | ₹5 lakh - ₹5 crore | ₹3 lakh - ₹10 crore | ₹3 lakh - ₹15 crore | ₹5 lakh - ₹10 crore |
| Loan Tenure | Up to 30 years | Up to 30 years | Up to 30 years | Up to 30 years |
| Processing Fee | 0.5% - 2% of loan amount | 0.50% - 1.00% of loan amount | 1% of loan amount | 1% of loan amount |
| Minimum Monthly Income | ₹30,000 | ₹25,000 | ₹25,000 | ₹30,000 |
Tata Capital provides home loan products which were designed to cater to the unique needs of different borrowers who want to seek loans. These loans come with competitive interest rates, which start at 8.75%. It also offers flexible repayment tenures that can extend up to 30 years. This makes them accessible to a broad range of borrowers, whether salaried or self-employed. The loan amounts available range from ₹5 lakhs to ₹5 crores, making it suitable for people with varying purchasing capacities. The processing fees are also quite affordable, typically ranging from 0.5% to 2% of the loan amount, depending on the specific type of loan, which helps keep the overall borrowing cost lower. Tata Capital's efficient application process and relatively relaxed documentation requirements make it easier for prospective homeowners to secure the financing they need.
FAQs
Ques: Are there any prepayment charges for Tata Capital Home Loans?
Ans: Yes, Tata Capital imposes prepayment charges on home loans. If a borrower decides to prepay more than 25% of the sanctioned amount during the loan tenure, a charge of 4% on the excess amount will apply. However, there are no charges for prepayments up to 25% of the sanctioned amount.
Ques: How can I change my EMI due date for Tata Capital Home Loans?
Ans: Borrowers can request a change in their EMI due date by contacting Tata Capital customer service or through their online portal. The request can only be made once during the loan lifecycle and must be submitted between the 3rd and 5th of the month.
Ques: What documents are needed to apply for a Tata Capital Home Loan?
Ans: Applicants must provide several documents, including identity proof (Aadhaar card, passport), address proof (utility bills), income proof (salary slips, bank statements), and property documents (sale agreement, title deed). Additional documentation may be required based on specific circumstances.
Ques: What are the processing fees associated with Tata Capital Home Loans?
Ans: The processing fee for Tata Capital Home Loans ranges from 0.5% to 2% of the loan amount, with a minimum fee of ₹500. This fee covers credit appraisal and technical evaluation expenses.
Ques: Is there an option for joint home loans with Tata Capital?
Ans: Yes, Tata Capital allows joint home loan applications. This option is beneficial for couples or family members who want to enhance their eligibility by combining their incomes. Both applicants must meet the eligibility criteria set by Tata Capital.
