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Tata Capital > Blog > Personal Use Loan > 5 Reasons Why Personal Loans are Hassle-Free at Tata Capital

Personal Use Loan

5 Reasons Why Personal Loans are Hassle-Free at Tata Capital

5 Reasons Why Personal Loans are Hassle-Free at Tata Capital

With several loan financers available in the market, finding the right one can be a daunting task. However, it is essential to find the correct lender to ensure that the process of loan sanctioning, usage, and repayment is simple and causes the borrower no inconvenience. A personal loan from Tata Capital, for instance, is trusted to be the best in the industry.

Here are five top reasons why getting a personal loan from Tata Capital is easy and hassle-free:

1.  Easy availability

You can avail quick personal loan up to Rs 25 lakh by simply speaking to a representative, visiting the official branch, or applying online.  

The process of loan documentation is rather simple at Tata Capital. All you need to furnish are your bank statements of the last three months, salary slips of the same period, along with address, income, and identity proofs. It takes only 72 hours for the amount to be credited to your bank account once your documents are approved. 

2.  Low-interest rate

Among all other benefits of personal loan with Tata Capital, the attractive interest rates are a major draw. The interest rates at Tata Capital are one of the lowest in the industry. They start at just 10.99% and vary based on your eligibility, tenure, income, CIBIL score, and other criteria.  

Moreover, unlike other lenders, Tata Capital does not levy any charges or penalties on part prepayment of the amount. However, the part prepayment must be made after six months of availing the funds. 

Additional Reads - Things you Need to Know About Personal Loan Prepayment Option

3.  No collateral or security

Tata Capital does not require you to pledge any security or collateral to secure personal finance. The funds can also be used at your complete discretion. The financer allows you to use the money for marriage, education, buying a car, higher studies, home renovation, medical expenses, etc. You are not obligated to inform the company about how you plan to spend the borrowed money. 

4.  Liberal eligibility and flexible tenure

The criteria of personal loan eligibility at Tata Capital are not very stringent and largely depend on your ability to settle the loan. Even if you have a low CIBIL score, you can apply for a joint loan with your spouse or a parent. Use the personal loan eligibility calculator to check your eligibility.

Moreover, you have the option to choose your repayment tenure. You can choose a fixed loan and interest amount. You could also opt for higher/lower equated monthly instalments (EMIs) at the beginning and lower/higher EMIs at the end of the tenure. The loan EMI schedule can be decided as per your income. 

Additional Reads – How to Plan your Personal Loan EMI Repayment Smartly?

5.  Overdraft facility

A very critical benefit of taking a personal loan from Tata Capital is the personal loan overdraft feature. The company allows you to borrow beyond the sanctioned limit, up to an agreed amount. The interest is levied only on the funds used. This is very beneficial in cases of urgent expenses and emergencies.

Conclusion

Borrowing money from the right source is very important. Easy-to-repay loans from Tata Capital are a reliable option if you are looking for a trusted lender. With hassle-free documentation, liberal eligibility criteria, and flexible tenure, the low personal loan interest rate from Tata Capital are suitable for any purpose and need.

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