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Loan restructuring can be availed by borrowers to manage financial stress caused by the COVID-19 pandemic. Customers eligible under RBI circular, having any of the retail loans can apply for restructuring of the loan via the Tata Capital website.
Tata Capital offers business loan for women entrepreneurs aspiring to achieve new heights in the world of business and startups. With the ongoing surge of women-owned companies in the market, more and more women are joining the business bandwagon with their unique ventures. Be it a home-based catering service or large-scale entrepreneurship, Tata Capital offers financial assistance with a business loan for ladies.
A business loan is typically meant to provide finances to a person or organization to help them grow their business.
Just like that, our women entrepreneurs loan is also exclusively meant for women to fulfill their financial needs for running or establishing their ventures. Our business loan for women comes with benefits like affordable interest rates, lower processing charges, and multiple EMI options.
With us, you can avail of the following benefits that we offer, along with a loan for ladies for business:
We have the following eligibility criteria for a loan for ladies for business:
Your age should be at least 21 years at the time of applying for the business loan and not more than 65 years at the time of the last EMI
Your credit score should be at least 650 or more
Business should be profitable
Minimum 2 years business stability
Banking balance should be at least Rs. 5000
Business loan for women in India comes with three types of charges, namely general charges, miscellaneous charges, and foreclosure charges. For more details, refer to the tables below:
General Charges
Here is an overview of the general charges appliable:
| Type of Fees | Applicable Charges |
|---|---|
|
Interest Rate |
Self-Employed Non-Professional: 15%-25%, Self-Employed Doctors: 12.00%-15.00%, Self-Employed Professional Other than Doctors: 13.00%-17.50% |
|
Processing Fee |
2.50% of the loan amount + GST |
|
Stamp Duty |
As Applicable |
|
Penal/Additional Interest Rate |
3% on Overdue amount per month + GST |
Here is a list of the miscellaneous charges levied by Tata Capital for a business loan for women -
| Type of Fees | Applicable Charges |
|---|---|
|
Dishonour/Bounce Charges |
Rs. 2,000 for every cheque/Payment Instrument Dishonour + GST |
|
Mandate Rejection Service Charge |
Rs. 450 + GST |
|
CCOD Annual Maintenance Charges |
0.25% on Dropline amount or Rs. 1,000, whichever is higher per year |
|
Document Processing Fees |
Rs. 1999 + GST |
|
Outstation Collection Charges |
Rs. 100 + GST per repayment tenure |
|
Statement of Accounts (SOA) |
Soft Copy – Nil. Branch Walk-in – Rs. 250 + GST |
|
Loan Cancellation Charges |
2% of the loan amount or Rs. 5,750, whichever is higher + GST |
|
Payment Instrument Swapping |
Rs. 550 + GST |
|
Duplicate Repayment Schedule |
Soft Copy – Nil Branch Walk-In – Rs. 550 + GST |
|
Duplicate NOC |
Rs. 550 + GST |
|
Post-dated Cheque Charges |
Rs. 850 + GST |
The table below indicates the list of foreclosure charges involved in Tata Capital business loans for women:
| Type of Fees | Applicable Charges |
|---|---|
|
Foreclosure Charges |
|
|
Foreclosure Charges for Top-up |
|
|
Foreclosure Charges in CCOD Cases |
|
|
Foreclosure Letter Charge |
|
You can now apply for availing a loan for women for business using any of the following four methods-
You can now apply for availing a loan for women for business using any of the following four methods-
With Tata Capital, you can avail of business loans at the most competitive interest rates starting at 13% p.a. for professionals and 15% p.a. for non-professionals. Moreover, we can determine the best interest rate for you depending on your loan eligibility, credit score, income, and other criteria.
Besides, when you apply for a business loan with us, the loan will include various charges, including processing fees, foreclosure charges, EMI bounce charges, etc., which will be disclosed at the time of loan processing.
Tata Capital offers you business loans with easy eligibility and minimal documentation. Here's the list of documents required to avail of a business loan-
KYC documents, including a photo ID and address proof
Business proof, including business registration certificate, GST registration certificate, trade licence, or a certified copy of the partnership deed agreement or sole proprietorship declaration
Income proof, such as the last two years' income tax returns (ITRs) and computation of income, the last two years audited finances with the tax audit report, the last two years profit-loss statements, or balance sheet (duly audited by a chartered accountant)
Current account bank statements and GST returns for the last six months
You may also require some additional documents at the time of loan processing. Visit the documents required page for more details.
We strive to make the loan repayment process super convenient for you with flexible payments. You can pay your EMIs via various payment instruments. We also allow EMI payment through a direct debit facility, electronic clearance service, or post-dated cheques.
Yes, at Tata Capital, you can enjoy 100% collateral-free loans to meet all your urgent business requirements.
With us, you can also avail of quick loans for your online business. Whether you run an e-commerce website or an online retail store, apply for a loan to fulfil your working capital requirements. You must fulfil the following eligibility criteria to ensure quick approval for your online business loan:
Your CIBIL score should be above 700
Your business turnover is showing an upward trend
Yes. At Tata Capital, we don’t ask for collateral or security for providing business finance. This means you don’t have to put your personal or business assets on the line to qualify for business funding. Our business loans are 100% collateral-free.
The interest levied on your business loan is eligible for tax deductions because the interest payment on a business loan is a business expense and not revenue. This means you can reduce your taxable income when you apply for a business loan in India. However, note that the principal component of the loan is not tax-deductible.
If you're running a sole proprietorship business, having a business account is not mandatory. However, if you have a partnership business or an LLC, you must have a business account to get a business loan.
Your business loan EMI will depend on several factors, including your loan amount, tenure, and interest rates. To get an idea of the EMI amount you need to pay, use our online business loan EMI calculator.
Tata Capital provides business loans of up to Rs. 75 lakhs. However, the maximum loan amount you can secure depends on your loan eligibility and credit score.
Tata Capital offers you a longer repayment tenure of up to 60 months. With us, you can easily pick a comfortable repayment tenure based on your business's financial needs and affordability. We also offer various EMI plans to repay the loan as per your income cycle.
At Tata Capital, the interest rate on your business loan is fixed. This means the interest rate and the EMI amount do not change during the course of the loan.
Tata Capital offers two types of Flexi EMI plans for business loan repayment-
Step Up Flexi EMI Plan: This repayment plan lets you pay lower EMIs at the beginning of the tenure and gradually increase the EMI as your income grows. This plan helps you manage your loan repayment as per the income flow.
Step Down Flexi EMI Plan: This repayment plan allows you to pay higher EMIs initially and then decrease them gradually. This plan helps you reduce your interest outcome.
At Tata Capital, the qualifying criteria for business loan approval are quite simple. Here are the requirements you need to fulfil-
Turnover of Rs. 50,000+ p.a.
Minimum two years of business stability
Business should be profitable
A minimum banking balance of Rs. 10,000
You can track the status of your business loan application here. You can also contact your sales representative for details.
In case of any issues or queries, you can call us at 1860-267-6060. Additionally, you can also write to us at contactus@tatacapital.com or visit your nearest Tata Capital branch.
Tata Capital offers various Ways to Service:
Say 'Hi' on Tata Capital's WhatsApp number, 7506756060, from your registered mobile number.
Login to Tata Capital's Mobile App. Download the Tata Capital mobile app here
Log into the Tata Capital website
Call our Customer Care Number 1860 267 6060
Email Us at contactus@tatacapital.com for a new loan requirement
Visit Tata Capital's service branches. Find your nearest branch here.
Send us an SMS from your registered mobile number to 97059 66060.
Interact with TIA to learn more about Tata Capital's products and services. TIA is also available on Google Assistant & Alexa.
You can get a business loan with Tata Capital at attractive interest rates starting at 12%-15% for self-employed doctors, at 13%-17.50% for self-employed professionals other than doctors, and at 15%-25% for non-professionals.
Here's how you can do it-
For Retail Loans:
Click here to know if your bank is a participant in digital E-NACH
If your bank is a participant in digital E-Nach registration, then follow these steps-
Raise the request by logging into Tata Capital's website. Login here.
You can also send us a request via email at customercare@tatacapital.com with a scanned image of your cancelled cheque (with your name on it) of your new bank account or the account statement with the bank's details with IFSC (Indian Financial System Code).
After receiving the request with the document, we will send you an SMS with an E-NACH registration link to your registered mobile number.
You are requested to complete the E-NACH registration. Once you've successfully registered, the new bank account details will be updated in our records.
If your bank is NOT a participant in digital E-Nach registration, here's what you need to do-
Since your bank is not a part of digital e-NACH registration, you need to provide some physical documents. You can contact us to place a request for your Bank NACH change. Our service executive will contact you on your registered mobile number to fix an appointment at your convenience and collect the below documents.
1. Photocopy of a cancelled personalised cheque from the new bank account
2. Your consent and signature on the new NACH mandate form (the executive will carry this form along with him)
Please note that it takes about 30 days for the NACH to be registered with the bank.
Note: EMI will be presented to the existing bank till the time your new bank account gets updated in our records.
Once your loan is closed, the NOC will be dispatched to your address within five working days. However, if you want to receive the NOC at a different address or at the nearest Tata Capital branch, you can contact us.
Once you log in to your account, you will be redirected to a page where you can select the Loan Account Number to download your Business Loan's statement and welcome letter.
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