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The charges and rates applicable on Tata Capital’s consumer durable loans are extremely nominal, so borrowers suffer no financial burden when they opt for these product loans. In fact, Tata Capital’s consumer durable loan interest rates and charges are so negligible that they pale when compared to the utility of the products borrowers can purchase. A high-priced smartphone or a premium home appliance can conveniently be bought on easy EMIs with 0% EMI interest rates.
We offer 0% EMI on the majority of the Consumer Durable Loan. However, there is an advance EMI that we ask you to pay on the basis of your loan tenure along with a nominal processing fee. Processing fee is charged as part of processing your consumer durable loan request.
Availing of product loans involves several consumer durable loan charges. Explained below are some of the fees associated with Tata Capital’s loans.
Between ₹0 - ₹10,000
These are charges that are levied in case the borrower’s cheque bounces due to technical reasons or because of insufficient funds, thereby halting the process of payment.
1st Presentation EMI Bounce Charges - ₹450, in addition to GST thereon.
2nd Presentation EMI Bounce Charges - NA
₹450 in addition to GST for every Cheque dishonour/rejection of ECS
₹40 + GST
₹75 + GST
In case the borrower decides to walk into the nearest branch to obtain hard copies of their loan statements, a charge of ₹250 + GST shall be levied. Soft copies from the portal can be obtained free of charge.
3% on overdue amount per month
₹550 + GST
Tata Capital does not charge any fees as cancelation charges on a consumer durable loan. So, you can cancel the loan at any point without any additional financial burden.
If you fail to pay your EMIs within the due date, charges for late payment shall be levied at the rate of 3% on the amount outstanding each month.
If you wish to exchange or swap your consumer durable loan liability or the cash flow with a different financial instrument, you can do so, but you will be charged an additional fee known as instrument swap charges.
Tata Capital’s consumer durable loan includes instrument swap charges fixed at ₹550, in addition to GST thereon.
Yes, you can close your consumer durable loan without any additional fees or penalty charges before completing the entire loan tenure.
To subscribe to our EMI Card, applicants are required to pay a one-time fixed fee of ₹299, in addition to GST thereon.
In order to process your application, we charge a processing fee which depends on the product you’ve purchased. Typically, the processing fees range from a minimum amount of ₹0 to a maximum amount of ₹10,000.
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