FAQs

1. What are Flexi EMIs?
At Tata capital we offer Loans with multiple repayment Options. Flexi EMIs are repayment options allow you to choose a plan that suits your need as per your cash flow.
Step Up Flexi EMI plan offers you the convenience to increase your fixed monthly EMIs every year to match your increase in income. This gradual annual increase helps you repay the loan with ease.
Suitable For:
  • Customer who want a bit more cash in their pockets each month as the monthly payments tend to be lower
  • Customers who see a healthy growth in their annual income
Step Down Flexi EMI plan allows you to start with a higher EMI and then lower it every year. This accelerated repayment helps you to save on finance costs.
Suitable For:
  • Customers who have higher disposable monthly income.
  • Customers who are nearing their retirement age and thus want to build an asset quickly.
The Bullet Flexi EMI plan allows you to prepay a fixed amount at periodic intervals. Our repayment schedule will factor in these periodic payments, thus lowering your monthly EMI. These scheduled part payments are free, without any charges.
Suitable For:
  • Customers who can periodically repay a large amount on their Car Loans, eg: with an annual bonus.
  • Customers who get regular incentives in their income.
The Balloon Flexi EMI plan factors in a large lumpsum repayment at the end of the Loan tenure, thus allowing you the flexibility of lower EMIs during the tenure of the loan.
Suitable For:
  • Customers who foresee a large increase in their income, in the future, from their investments eg: receipts from a FD or maturity of their Insurance policies.
2. Which cars can be financed by these loans?
We at Tata Capital finance almost all passenger cars and multi-utility vehicles manufactured by India's leading automobile companies. Imported vehicles are also funded on case to case basis.
3. What are the loan tenure options available?
The tenure of loan could be from one to maximum seven years for new cars and for used car age of Car at loan maturity should not cross 9 years subject to maximum loan tenure of 5 years and vehicle type.
4. What are the stages involved in availing a Car Loan from Tata Capital?
The stages of availing a Car Loan include:
  • Application
  • Processing
  • Documentation
  • Sanctioning of the loan
  • Disbursement
5. How much time will it take for the Car Loan to be approved?
DisbursementThese are generally approved within 24-36 hours of submission of complete documentation.
6. Does any other security/collateral need to be provided?
No additional security/collateral needs to be provided, apart from the car against which the loan is granted, being hypothecated to Tata Capital.
7. Is a guarantor required for gaining approval of the loan?
Generally not. But if your income does not meet our credit criteria, then you may require a guarantor to stand surety for your loan.
8. Who can be the co-applicants for the loan?
Your spouse or any blood relative staying in the same residence as yours can be a co-applicant.
9. How can the loan be repaid?
The loan can be repaid through ECS, Direct debit and post dated cheques drawn on "Tata Capital Financial Services Limited".
10. Can I prepay my loan?
You can prepay the loan, if you are closing it fully. We charge for prepayment of loan by the customer. The details of charges are given on the service charges page.
11. What are the lending rates?
The lending rates are dependent on various factors including cost of funds, customer credentials, geography, asset , tenor and discounts offered in the market. Tata Capital ensures that you get a transparent and good deal at the time of availing the loan.
12. How do I approach Tata Capital Ltd. for a Car Loan?
You can approach us in any of the following ways
Apply online: Write to us at contactus@tatacapital.com using the "Email Us" option
SMS ‘Auto’ to 56161561.How do I approach Tata Capital Ltd. for a Car Loan?
13. Can I avail of a loan on my existing car?
Yes you can avail of a loan on your existing car. Upto 120% of the existing value of your car shall be available as cash at your disposal subject to a maximum of Rs 20 lacs.
14. Will my car insurance and registration charges be included in the loan?
Yes registration is included in the few loan offerings but insurance of the vehicle does not form part of this value and would need to be paid upfront
15. Can the tenure and amount of loan taken be changed after the loan amount has been disbursed?
No the tenor once selected is fixed for the life of the loan.
16. Can I get full 100% financing for my car?
Yes we do offer upto 100% of the exshowroom funding on select models subject to the applicant meeting our underwriting criteria
17. Can the EMI on my car loan be reduced or changed?
No the EMI is fixed for the life of the loan. However we offer flexible solutions to fit your requirement
18. Who can avail of Car Loans from Tata Capital?
  • Salaried individuals
  • Self-employed individuals
  • Partnership Firms
  • Public and Private Ltd. companies
  • HUFs and Trusts