Guide To Understanding Personal Loans - Personal Loan - Tata Capital

Personal LOAN

Tata Capital gives you your #LoanKaHaq with Salaam Loans

Nov 14, 2017

We all know that finance matters, not only for economic development & stability but for the well-being of individuals as well – which insures against risks and broadens investment opportunities. Considerable evidence available today points to a direct correlation between the strength of a financial ecosystem of a country on one hand and an increase in productivity or poverty on the other.

While much of this evidence has enabled individual financial services companies to focus their attention on economic development, much of this is skewed towards those who are already better off, catering to larger enterprises and reasonably well off individuals as well. This is especially prevalent in India, where the Economically Weaker Section (EWS) of society have little or no access to organized finance.

While the government with its various initiatives is working hard to give all Indians their basic banking and insurance rights, access to organized credit is still not open to all. Many who fall under this segment are deserving individuals who are brave enough to dream big and bold enough to try and make a better living for themselves. Unfortunately, financial constraints & unforeseen circumstances, or misfortunes beyond their control force them to forego these dreams. These segments are denied loans due to technical reasons, even if their intention is just.

Tata Capital believes that access to finance is a right and not a privilege and through this initiative, the company wants to reach out to these deserving individuals by introducing them to the organized financial credit channel.

A first-of-a-kind loan product, Salaam Loans is a Spikes Award winning campaign and aims to encourage deserving people by giving them their ‘#LoanKaHaq’. It does so by ‘democratizing’ the process by handing over the power of loan approval to the people. The public at large is invited to come on board and ‘salaam’ the stories of such deserving people, thus approving their loan application.

The premise of the initiative is pretty simple and is fairly similar to a Personal Loan. Applicants in need of loan can upload their stories or of individuals known to them on and based on number of ‘Salaams’ received, the loan process is started. People whose stories get 1,000 likes are considered eligible for the loan, up to Rs 1 lakh.

Individuals belonging to Economic Weaker Section/Lower Income Group category, with a total annual household income not exceeding 3 lakhs, can apply for a Salaam Loan. However, the applicant will have to showcase a strong purpose for availing the loan, and will be evaluated accordingly. The loan under this scheme can be availed for productive causes or emergencies, which could range from (but are not limited to) setting up small businesses, education or training, medical expenses etc.

The initiative has already received over 800 applicants of which close to 220 stories are already live on the website and seeking salaams from public.

The product was conceptualized keeping in mind Tata Capital’s brand promise ‘we only do what’s right for you’ and we have received stories from locations far & wide that embody the true spirit of this initiative. One such story is that of Ms. Dhanlaxmi Bai – a woman from Bangalore who, after losing her husband 5 years ago, started working as a tailor to a provide for her family. Coupled with the amount her sister earns from her small hotel business, the family of 5 barely earn enough to make ends meet.

Dhanlaxmi was looking to expand her business and when she heard about unique Salaam Loan concept. She immediately applied for one and was one of the first few beneficiaries who receive it from Tata Capital. She is now able to pursue her dream and expand her own business, which will further enable her son to contribute as well around the shop.

This story and that of countless others that we’ve unearthed shows us that there are many individuals out there who have let go of their dreams in search of financial solidity. Tata Capital always endeavours do what’s right and this initiative stands as a beacon of hope for individuals to pursue their ambitions, whatever they may be.

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A small gadget can change your life

Nov 10, 2017

We all love our little toys. These gadgets have gone from being a hobby to a necessity in our lives. They have in so many ways made our life so much easier and better. To be honest, there is a special gadget for every need, hobby or even mood!

There was a time when the only gadget you had at home was a 16-inch television, a single door refrigerator and if you are a music enthusiast a good music system. Well, those days are long gone. With the evolution of technology, there is a new gadget for everything. If you are in a mood to upgrade your home and make life a little bit easier than before, then here are some gadgets that may interest you


These gadgets are known to not only make your life simpler but also better. While they may seem like an expensive investment to you but with Tata Capital’s Myloan App you can get instant access to personal loans to make your home tech savy It doesn’t take a lot to make your regular routine simpler. Sometimes all you need is a helping gadget!

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Most Sought After Degrees in the World

Nov 07, 2017

Reached a roadblock in your career? How about studying further for new opportunities?

It is said that getting an additional degree from a renowned institute can lead to a huge number of opportunities. However, it is also necessary to pursue a degree that employers look for while hiring.

Here are some of the most sought-after degrees as rated by the National Association of Colleges and Employers (NACE) in 2017.

Finance degrees

A Finance degree is mainly concerned with money management and thus opens doors to a number of different career options. Some specializations include corporate finance, international finance, behavioral finance, financial mathematics, and financial economics, among others. As per the NACE survey, 60.4 percent employers were willing to hire students with this degree. The top five institutes offering accounting and finance courses are Harvard University, Massachusetts Institute of Technology (MIT), Stanford University, Oxford University, and the London School of Economics and Political Science (LSE).

Accounting degrees

An Accounting degree teaches students how to measure, process, analyze, and communicate the required financial information of an organization to various concerned parties. Some specializations include financial accounting, management accounting, auditing, taxation, and others. As per the NACE survey, 59.7 percent employers were willing to hire students with this degree.

Business Administration/Management degrees

Management degrees give students a broad foundation in topics related to business, economics, marketing, and finance. Some specializations include strategic management, brand management, risk management, human resources management, corporate social responsibility, and others. As per the NACE survey, 59.7 percent employers were willing to hire students with this degree. The top five institutes offering this degree are Harvard University, London Business School, INSEAD, Massachusetts Institute of Technology (MIT), and the University of Pennsylvania.

Computer Science degrees

Computer Science degrees take a practical as well as a scientific approach towards computation and its applications. Some specializations include computer graphics, programming language theory, artificial intelligence, algorithms, and data structures, among others. As per the NACE survey, 50.7 percent employers were willing to hire students with this degree. The top five institutes offering this degree are the Massachusetts Institute of Technology (MIT), Stanford University, Carnegie Mellon University, University of California, Berkeley (UCB), and University of Cambridge.

Mechanical Engineering degrees

Mechanical Engineering deals with the design, building, and use of machines. Some specializations include robotics, nanotechnology, fluid dynamics, solid mechanics, simulation-driven engineering, and more. As per the NACE survey, 48.6 percent employers were willing to hire students with this degree. The top five institutes offering this degree are the Massachusetts Institute of Technology (MIT), Stanford University, University of Cambridge, Harvard University, and University of California, Berkeley (UCB).

Getting one of the above degrees requires hard work, successful college applications, and an ability to pay high tuition fees. While the first two depend on you and/or a student counselor’s help, the third one may require you to apply for an educational loan or a scholarship. Do check what all a scholarship covers and the eligibility criteria for the same. In the case of a loan, you will have to not only check the eligibility criteria but also the personal loan interest rates to ensure that you will be able to pay back the loan on time.

Once you get the letter of admission and arrange the funding, all you have to do is work hard towards attaining your degree.

See more aspirations that you would like to see fulfilled: Top 5 Aspirations that You Would Love to See Fulfilled

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