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Tata Capital > Blog > Generic > Tata Capital loan app: Step-by-step guide to Features, Benefits & More

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Tata Capital loan app: Step-by-step guide to Features, Benefits & More

Tata Capital loan app: Step-by-step guide to Features, Benefits & More

Introduction

Financial needs can arise unexpectedly, whether it’s for funding a dream vacation, renovating your home, or managing medical expenses. At such times, a personal loan can be a lifesaver, providing quick access to the funds you need. And what better way to apply for a personal loan than through the convenience of your smartphone? Simply head to Tata Capital’s flexible and tailored Personal Loan. With attractive interest rates and easy eligibility criteria, Tata Capital makes it convenient for you to finance all your requirements with different types of loans. The best part is that the entire application process can be done online through the Tata Capital app.

In this article, we will walk you through the step-by-step process of applying for a personal loan on the Tata Capital app.

Key features of the Tata Capital personal loan app

Tata Capital personal loan app makes it easier for you to apply for and secure a personal loan. You can proceed with the application without visiting the branch.

The essential features of the Tata Capital personal loan app are:

  • Instant approval: The assessment process is AI-powered and delivers decisions within minutes.
  • Flexible tenure: You can choose repayment options from 3 to 60 months.
  • Transparent pricing: The app mentions processing fees and interest rates upfront.
  • Credit score verification: The CIBIL score is checked in real-time to determine the interest rate.
  • Digital KYC: The app allows you to complete Aadhaar and PAN verification digitally through OTP authentication.

Eligibility criteria for Tata Capital instant personal loan

Understanding the eligibility criteria before applying for a Tata Capital personal loan online helps avoid rejection. It also ensures that your credit score isn’t impacted negatively due to unnecessary inquiries.

  • Age: The applicant must be at least 18 years old at the time of loan application and 65 years old at the time of loan maturity.
  • Employment status: The applicant must either be a salaried employee or a self-employed individual.
  • Income: To be eligible for a Tata Capital instant personal loan, you must earn at least Rs. 15,000 per month.
  • Credit score: A credit score above 700 helps to secure better interest rates.
  • Nationality: You must be an Indian citizen.

Benefits of applying for a personal loan online with Tata Capital

  1. Simple and convenient

An online personal loan application can be completed from anywhere. There is no need to visit the branch physically. All you need is a smartphone, tablet, laptop, or computer and an internet connection.

  1. No collateral requirements

The unsecured nature of personal loans makes them a popular choice. You must opt for it if you do not have any assets to pledge or do not wish to lose them if loan repayment becomes difficult for any reason.

  1. Easy eligibility criteria

Tata Capital personal loan has easy eligibility criteria. This makes the online application process more convenient as fewer proofs are to be submitted.

  1. Quick processing

The time taken to process an online application is much lower than that of a physical application. You don’t need to wait for days or weeks for a response. The system is streamlined, with the support of advanced algorithms.

Step 1. Download and install the Tata Capital loan app

The first step to applying for a personal loan online on the Tata Capital app is to download and install the app on your smartphone. The personal loan app is available for both Android and iOS devices. Simply visit the Google Play Store or Apple App Store, search for “Tata Capital”, and click on the “Install” button. Once the installation is complete, open the app and proceed to the next step.

Step 2. Register or log in to your Tata Capital account

If you are a new user, click on the “Register” button to create an account. Fill in your personal details, such as name, email address, and mobile number, and create a password. After successfully registering, log in using your credentials.

For existing users, simply log in to your account by entering your registered mobile number/email address and password.

Step 3. Choose ‘Personal Loan’ on the Tata Capital app

Once you are logged in, navigate to the menu section of the Tata Capital app. From the menu options, select “Personal Loan” to proceed with your loan application.

Step 4. Enter your personal and financial information

To apply for an instant personal loan on the online loan app, you will need to provide your personal and financial details. This includes your name, date of birth, address, employment details, income details, and any existing liabilities.

Make sure to double-check the information you provide to ensure accuracy. Any incorrect or misleading information may lead to delays in the approval process.

Step 5. Select the loan amount and repayment tenure

After providing your personal and financial details, you will be prompted to choose the loan amount and tenure. The loan amount refers to the total amount of money you wish to borrow, while the tenure is the duration over which you plan to repay the loan.

Consider your repayment capacity and select an amount and tenure that best suits your financial situation.

You can use the Tata Capital EMI Calculator available on their website or app to get an estimate of your monthly EMIs based on different loan amounts and tenures.

Step 6. Upload documents for an instant personal loan

Next, you will be required to upload certain documents as proof of identity, address, income, and employment. The specific documents may vary depending on your profile and Tata Capital’s internal policies.

However, some common documents include:

  • Proof of identity: Aadhaar card, PAN card, passport
  • Proof of address: Aadhaar card, utility bill (electricity bill/telephone bill), rent agreement
  • Proof of income: Salary slips for salaried individuals or income tax returns for self-employed individuals
  • Employment proof: Offer letter or appointment letter from current employer

Ensure that you have scanned copies or clear photographs of these documents readily available before starting the application process.

Step 7. Review and submit your personal loan application

Once you have provided all the necessary details and uploaded the required documents, take a moment to review your application thoroughly. Check for any errors or missing information. It’s essential to ensure that all the information provided is accurate and up to date.

After reviewing your application, click on the “Submit” button to finalize and submit your loan application.

Step 8. Track your Tata Capital personal loan application status

After submitting your loan application, you can track its status in real-time through the personal loan app. You will receive regular updates on the progress of your application, ensuring transparency throughout the approval process.

If required, Tata Capital’s representatives may get in touch with you for any additional information or documents.

Once your loan application is approved, you will receive a confirmation from Tata Capital. The loan amount will be disbursed directly to your bank account within a few working days.

It’s important to note that loan approval and disbursal are subject to meeting Tata Capital’s eligibility criteria and credit assessment processes.

Tips for instant loan approval via the app

If you want to get your loan approved instantly, keep the following tips in mind:

  1. Maintain a good credit score: You can keep your credit utilization low with timely bill payments.
  2. Ensure the details are accurate: Check the information and documents twice to avoid rejection.
  3. Pick the right loan amount: Avoid overborrowing. Take only what you can comfortably repay.
  4. Read the terms and conditions carefully: Remember to go through the fine print carefully to avoid any confusion.

Tata Capital’s personal loan app makes the loan application process a hassle-free experience. You can head to the one-stop solution for all your financial needs.

How to check your Tata Capital personal loan application status online?

It is easy to check your Tata Capital personal loan application status. Start by downloading and opening the Tata Capital app. Alternatively, you can visit the official website. Log in using your registered mobile number and verify it with an OTP. After you’ve logged in, head to the “My Application” or “Loan Status” option. You will be able to see real-time updates on your personal loan application. The status may appear as submitted, under review, approved, or disbursed. You may need to enter your application or reference number for quick access.

The online status tracker helps you track your application without visiting the branch or calling customer care. If you need to submit additional documents, the app or website will notify you instantly. This digital process saves time and keeps the entire loan journey transparent and hassle-free.

Conclusion

Applying for a personal loan online has never been easier with the Tata Capital app. By following these simple steps, you can complete the entire application process conveniently from the comfort of your home.

With quick approval, attractive interest rates, and transparent communication throughout the process, Tata Capital ensures a hassle-free experience.

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FAQs

How can I apply for an instant personal loan on the Tata Capital App?

Download the Tata Capital loan app and register with your mobile number. Select the option for a personal loan, review eligibility, fill in basic details, upload documents, and submit the application. The entire process is digital and quick.

What documents are required for a Tata Capital personal loan application online?

The documents you need for a Tata Capital personal loan online application are:

  • Identity proof - Aadhaar card, PAN Card
  • Income proof - bank statements, recent salary slips

The app guides you at every step as you securely upload documents online.

How do I check my Tata Capital personal loan application status through the app?

To check your loan application status, log in to the Tata Capital personal loan app and go to the “My Application” or loan section. Enter your application number or registered mobile number to view application status in real time.

Is the Tata Capital loan app available for both Android and iOS devices?

Yes, the Tata Capital loan app is available on both Android and iOS devices. You can download it from the Google Play Store or the Apple App Store easily.

What are the eligibility criteria for a Tata Capital personal loan via app?

The eligibility criteria for a personal loan via the Tata Capital loan app require you to be an Indian citizen, aged between 18 and 65 years. You must have a stable income and a good credit score.

How soon is the personal loan amount disbursed after approval on the Tata Capital loan app?

After loan approval and e-signing, the personal loan amount is often disbursed within a few hours to one working day. The funds are sent directly into your bank account.

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