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Personal Loans at Tata Capital are unique and flexible. We offer quick and easy finance at competitive interest rates. Our Personal Loan is built around your needs. Who says you can’t have it easy? With us, all it takes is a click.
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PERSONAL LOAN INTEREST RATES STARTING AT 10.99%
Need instant cash for those unexpected needs? Tata Capital offers Personal Loan Overdraft facility with the flexibility to withdraw funds as per your need and pay interest only on the utilized amount.
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PERSONAL LOAN INTEREST RATES STARTING AT 13.50%
A marriage today comes with its fair share of frills, thrills and not to mention - Bills. A Personal Loan for Wedding enables you to pay for anything related to your special day. We help you find a loan that fits your budget in a timely manner and make your fairy-tale wedding come to life.
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WEDDING LOAN FUNDING UP TO RS. 25 LAKHS
In times of emergency, getting funds should be a hassle free experience. Tata Capital,s Medical Loan provides flexible repayment options for all cosmetic, medical and dental procedures. With us, you can rest easy knowing your medical expenses are covered.
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LOANS FOR MEDICAL NEEDS ON AN EMERGENCY BASIS
Tata Capital offers Education Loans to help students pay their tuition fees and living cost when they are looking to take the next steps in their education, both in India and abroad.
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AVAIL TAX BENEFITS ON EDUCATION LOANS FOR HIGHER STUDIES
Want to fund your vacation but falling short on funds? An EMI based Travel loan can be an ideal way to pay for a holiday that you can’t quite cover in one go. Head off on your next adventure. Our Travel Loan is simple, easy and fast!
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PERSONAL LOANS FOR ALL YOUR TRAVEL NEEDS
Thinking of revamping your home? We help you do just that with our Personal Loan for Home Renovation. Whether you want to remodel your kitchen or turn your children’s bedroom into a magical fairy land, our Home Renovation Loan facility will help in giving your home a new look.
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HOME RENOVATIONS LOANS FOR YOUR HOUSING NEEDS
If you’re a first-time home buyer, looking to expand your existing home, or just thinking to live rent-free for all your life, Tata Capital's Home Loan is the ideal solution to all your home loan requirements. Our Home Loans are quick and easy and are available at an attractive interest rate.
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HOME LOANS WITH INSTANT APPROVALS UP TO RS. 5 CRORES
As the years go by and your family continues to grow, does your house feel smaller? Tata Capital’s Home Extension Loan is a perfect solution to help you give your family that additional space they deserve.
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CUSTOMISED SOLUTIONS FOR HOME EXTENSION NEEDS WITH TENURE UP TO 30 YEARS
Every person deserves a home to call their own. With this vision and under the Pradhan Mantri Awas Yojana Scheme, Tata Capital Housing Finance offers affordable home loans at competitive interest rates.
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UNDER THE PRADHAN MANTRI AWAS YOJNA SCHEME, AVAIL INTEREST RATE SUBVENTION STARTING AT 4%
The PMAY is a Government backed Credit Linked Subsidy Scheme (CLSS) wherein the mission is to provide affordable housing for all by the year 2022. The PMAY scheme offers its beneficiaries with subsidy, where the Pradhan Mantri Awas Yojana interest rate is charged at a subsidised or reduced rate than regular housing loans. This is done to make it possible for everyone to afford a home.
Whether you want to revamp your business, launch a new store, buy new machinery, increase working capital or outperform your competitors. Tata Capital Unsecured Business Loans offer you customised loans to suit your business plan.
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ONE STOP SHOP FOR BUSINESS FINANCING UP TO RS. 50 CRORES
LOAN AGAINST PROPERTY UP TO RS. 3 CRORES WITH FLEXIBLE LOAN TENURES
Opting for a Used Car Loan is a smart, value-for-money purchase. Tata Capital offers Used Car Loans upto Rs. 50 lakhs for a wide collection of cars ranging from hatchbacks & SUVs to premium sedans. Your favourite car is just a click away.
Apply NowNothing matches the thrill of owning your brand new bike. Tata Capital offers Two Wheeler Loans for you to own the bike of your choice. We offer up to 100% funding on your new motorcycle or scooter.
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LOAN AGAINST PROPERTY UP TO RS. 3 CRORES WITH FLEXIBLE LOAN TENURES
Used Car Loan
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As one of the leading Indian Investment Managers, Tata Asset Management Limited understands that managing wealth is as important as the creation of it. View their range of investment solutions for financial planning & wealth creation.
Know MoreA better and more comfortable lifestyle is now within your reach. Tata Capital’s Consumer Durable loan covers 100 + lifestyle products from that giant TV to the home theatre system. We offer 0% interest on most of the consumer durable products and are the one-stop solution for your every needs.
With Loan Against Securities (LAS) from Tata Capital, you can unlock the potential of your investments. All you have to do is pledge your equity shares, mutual funds, bonds or securities and get access to instant liquidity. We offer LAS with zero foreclosure and prepayment charges.
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UNLOCK THE POWER OF YOUR INVESTMENTS WITH LOAN AGAINST SECURITIES UP TO RS. 20 CRORES
At Tata Capital, we understand your insurance needs and offer Insurance policies that provide protection against any unforeseen risks. Tata Capital has solutions to cater to your various needs - you can avail any of the Online Insurance policies with just a few clicks!
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Usually expressed as a percentage, home loan interest rate is the rate at which interest is charged on the principal home loan amount over a specified tenure.
Tata Capital offers among the most competitive home loan interest rate in India, starting at just 8.50%.
Home loan interest rates are a vital part of a home loan. The home loan interest calculation lets you know in advance the amount that you’d need to pay over and above the principal home loan amount. Given that home loans are generally long-term loans, extending up to 15 to even 30 years, the total interest can become a considerable sum over time. Even a slight percentile difference in housing loan interest rate can be significant over years. Plus, home loan interest will also rise with an increase in tenure. Therefore, it is important to check and compare home loan interest rates and choose a lender offering competitive home loan interest rates in India.
Housing loan interest is usually calculated on the outstanding principal amount at the end of each day and charged on a monthly basis. The lending institution takes the outstanding loan amount per day and multiplies it by the latest home loan interest rate that has been assigned for housing loan interest calculation.
Housing loan rates do not remain constant. They are subject to change, primarily in accordance with the monetary policy set by the Reserve Bank of India (RBI), which includes the base lending rate and MCLR. Your home loan interest rate is also calculated based on your credit rating and varies across lenders, depending on how much an institution can lend.
In 2016, the RBI announced a new set of guidelines for lending called the Marginal Cost of Funds-Based Lending Rate (MCLR). The MCLR was introduced for all loans granted after April 1, 2016 and has replaced the older base rate regime.
If you took out a home loan before this date, you can switch to MCLR depending on the cost of your loan, since some conversion charges are applicable.
Lenders primarily offer two kinds of home loan interest rates – fixed and floating interest rate.
Fixed interest rate is one wherein the interest rate on the home loan will never change no matter how volatile the market scenario gets. People who have opted to repay their home loan through fixed rate need to pay equally divided fixed monthly instalments over a pre-determined tenure with no unexpected changes in the middle.
Alternatively, floating home loan interest rate is one which is volatile and keeps changing as per the market scenario. Since floating interest rate is dependent upon the floating or alterable base rate offered by lenders, it gets revised automatically and in proportion to a change in the base rate.
The repo rate is the rate at which the RBI lends money to other commercial banks. This rate is reviewed once every two months. The repo-rate linked lending rate is the rate of interest set according to the repo rate and is directly affected by a change in the repo rate. For instance, if the RBI reduces the repo rate, the home loan interest rates will also go down for the borrowers.
Under repo-rate linked lending rates, a home loan borrower is not dependent upon the respective lending institution to decide the lending rate. It is automatically updated (on the first day of the month after the change) to be in line with the repo rate.
Home Loan:
| Customer Profile | Loan Slab ROI* (%) | ROI* (%) |
|---|---|---|
| Salaried | Any Amount | 8.50% onwards |
| Self Employed | Any Amount | 8.75% onwards |
Home Equity
| Customer Profile | Loan Slab ROI* (%) | ROI* (%) |
|---|---|---|
| Salaried / Self Employed | Any Amount | 10.10% onwards |
*Final ROI may vary based on credit checks, property & other parameters
Searching the market for getting the right home loan interest rate is essential for reducing your costs. Housing loan interest rates will vary based on the different home loan schemes available for individual buyers, joint buyers, women, etc. You can use a free online home loan emi calculator to get a fair idea of the amount you are eligible to borrow as loan principal
If you’re considering taking a home loan to fund the purchase of your dream home, it’s important to be aware of basic terminologies and terms. Additionally, you must also learn about various loan charges such as processing fee, home loan prepayment charges, legal charges, etc. before you apply for a home loan.
Processing fee refers to the one-time charge levied by Tata Capital on borrowers for processing their home loan applications. The processing fee at Tata Capital is charged at the rate of 0.5% of the loan amount onwards + GST.
Foreclosure means repaying your loan EMI in a lump sum rather than in instalments. A borrower at times ends up repaying their loan amount before the end of their prescribed time limit. In such cases, home loan foreclosure or pre-closure charges will be levied by Tata Capital as a penalty for repaying the loan before the end of its term. No charges will be levied when you prematurely pay off your home loan with your own funds. However, if you pay off your home loan prematurely using someone else’s funds, Tata Capital will charge home loan foreclosure charges.
Missing or defaulting on your home loan monthly instalments or EMIs will lead to EMI delay. This generally happens due to insufficiency of funds in your loan account. Delaying EMI payments can lead to penalties and will severely hamper your credit rating, in turn, causing trouble in all your future dealings and borrowings with other lending institutions.
In case of delayed EMI payments, a charge at the rate of 2% over the prevailing rate of interest will be applicable for the period of delay.
There could be cases where the entire principal home loan amount is transferred to another bank extending lower home loan interest rates. In case of such balance transfers, home loan transfer charges will be levied.
Tata Capital may hire organisations that specialise in pursuing payments owed by businesses and individuals on actuals. Debt collectors operate on behalf of the party that is owed money and in return charge a fee which is usually a percentage of the total amount owed; this fee is usually charged on actuals.
Once a borrower submits the relevant property documents required for loan sanction on actuals, these documents are sent for legal verification. This verification happens at a fee that can vary depending on the lending institution and is usually charged on actuals.
PDC charges, loan cancellation charges, dishonour of cheque charges (cheque bounce), rejection of Electronic Clearance Service (ECS) charges, PDC swapping charges, account maintenance charges, CERSAI charges may also apply besides those mentioned above, on a case-to-case basis.
0.5% of the loan amount onwards + GST
| Effective Date | Prime Lending Rate |
|---|---|
| 1st January, 2019 | 17.45% |
| 1st October, 2018 | 17.15% |
| 1st July, 2018 | 16.85% |
| 1st May, 2018 | 16.65% |
| 1st November, 2015 | 16.50% |
| 1st May, 2015 | 16.65% |
| 10th December, 2013 | 16.75% |
| 1st September, 2013 | 16.65% |
| 1st October, 2011 | 16.50% |
| 1st July, 2011 | 16.00% |
| 1st April, 2011 | 15.50% |
| 20th December, 2010 | 14.75% |
| 15th November, 2010 | 14.25% |
| 1st January, 2009 | 13.75% |
The repo rate and lending rates are linked. The rate at which the RBI lends money to other commercial banks is called the repo rate. When this rate is reduced by the RBI, the lending home loan interest rates also go down for the borrowers.
Housing loan interest rate is usually calculated on your outstanding principal amount at the end of each day and charged to you on a monthly basis. The lending institution takes the outstanding per day loan amount and multiplies it by the interest rate that has been assigned to you. You can also use an online loan repayment calculator to keep a tap on the remaining amount owed by you.
People who have opted to repay their home loan through fixed and equally divided instalments across a fixed tenure have a fixed home loan interest rate - one that will never change no matter how volatile the market scenario gets. Alternatively, floating interest rates are volatile and keep changing as per the market scenario. This type depends on the alterable or floating base rate offered by lenders. Therefore, whenever the base rate changes, the interest rate also gets revised automatically.
Our interest rates begin from 8.50% and are highly competitive. We offer concessional interest rates to women beneficiaries. Additionally, we provide subsidized home loans to low income groups under PMAY subsidy.
The following are the factors that influence your home loan interest rate –
MCLR Rates or Marginal Cost of Funds Based Lending Rate – The minimum rate at which a lender can offer you a loan
Type of Interest – Whether you choose a fixed, floating, or mixed interest rate
Loan-to-Value (LTV) Ratio – Percentage of the property value that can be financed using a loan
CIBIL or Credit Score – The higher the CIBIL score, the lower the rate of interest
Property Location – The more lucrative the property, the lower will be the rate of interest charged
Job Profile – Individuals with stable income charged lower interest rates
Loan Tenure – Shorter loan tenures attract lower rates of interest
Foreclosure means to repay your entire home loan amount in a single payment instead of making Equal Monthly Instalments or EMIs. Loan lenders charge a certain fee as penalty for a home loan foreclosure. Foreclosure charges are generally levied when the home loan interest rate is fixed and has been pre-paid using sources that are not the applicant’s. Under such circumstances, a percentage of the outstanding principal amount plus taxes are levied as foreclosure charges.
Processing fee under home loan is the one-time amount charged by a lender at the time of processing the home loan application. The amount may differ from lender to lender. Generally, processing fees are non-refundable regardless of whether the home loan gets sanctioned or not.
Home loan processing fee is a one-time amount charged by banks and NBFCs at the time of processing a home loan application. Under any circumstance, regardless of whether your home loan gets sanctioned or not, processing fee is not refundable.
Yes, home loan interest rates not only vary among different banks and lending institutions but also among cities depending upon the segmentation and the risk of the location.
If your home loan interest rate is fixed, then your EMI will remain unaffected by market fluctuations. However, if your home loan interest rate is floating, it will rise and fall with the market fluctuations. So, when the interest rate increases, your EMI amount will also increase and when the interest rate decreases, your EMI amount will also decrease.
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