sign in to unlock
special offers!
You are signed in to unlock special offers!
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.
Apply NowPERSONAL 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.
Apply NowPERSONAL 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.
Apply NowWEDDING LOAN FUNDING UP TO RS. 35 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.
Apply NowLOANS 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.
Apply NowAVAIL 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!
Apply NowThinking 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.
Apply NowHOME 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.
Apply NowHOME LOANS WITH INSTANT APPROVALS STARTING AT 8.95%
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.
Apply NowCUSTOMISED 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.
Apply NowUNDER 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.
Apply NowONE 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.
Apply NowWith 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.
Apply NowUNLOCK THE POWER OF YOUR INVESTMENTS WITH LOAN AGAINST SECURITIES UP TO RS. 20 CRORES
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.
Apply NowUNLOCK THE POWER OF YOUR INVESTMENTS WITH LOAN AGAINST SECURITIES UP TO RS. 20 CRORES
Used Car Loan
APPLY NOWMutual Fund
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.
Insurance
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!
Know MoreTata Capital provides easy Microfinance Loans available at attractive interest rates. Avail a loan up to Rs. 2 lakhs through a simple process with minimal documentation. Get flexible tenures up to 36 months and repay your Microfinance loan EMI as per your convenience.
Know MoreWe have pre approved offers for you
Fill in these details to know more
verify your mobile no.
Please enter the 4 Digit OTP sent to your mobile Number.
verify your mobile no.
Generate a 4 digit OTP to verify your mobile number.
Incorrect OTP
OTP once used cannot be reused. Please resend OTP to try again.
Download the Moneyfy App
Be Investment ready in minutes
Download NowTake a Tata Capital Home Loan
Lowest interest rates starting at 8.95%*
Apply NowApply for a Tata Card
Get benefits worth Rs. 18,000*
Apply NowPersonal Loan
PERSONAL LOAN INTEREST RATES STARTING AT 10.99%
Overdraft Loan
PERSONAL LOAN INTEREST RATES STARTING AT 13.50%
Marriage Loan
WEDDING LOAN FUNDING UP TO RS. 35 LAKHS
Medical Loan
LOANS FOR MEDICAL NEEDS ON AN EMERGENCY BASIS
Education Loan
AVAIL TAX BENEFITS ON EDUCATION LOANS FOR HIGHER STUDIES
Travel Loan
Home Renovation Loan
HOME RENOVATIONS LOANS FOR YOUR HOUSING NEEDS
Home Loan
HOME LOANS WITH INSTANT APPROVALS STARTING AT 8.95%
Home Extension Loan
CUSTOMISED SOLUTIONS FOR HOME EXTENSION NEEDS WITH TENURE UP TO 30 YEARS
Affordable Housing Loan
UNDER THE PRADHAN MANTRI AWAS YOJNA SCHEME, AVAIL INTEREST RATE SUBVENTION STARTING AT 4%
Loan Against Property
Loan Against Securities
Personal Loan
PERSONAL LOAN INTEREST RATES STARTING AT 10.99%
Overdraft Loan
PERSONAL LOAN INTEREST RATES STARTING AT 13.50%
Marriage Loan
WEDDING LOAN FUNDING UP TO RS. 35 LAKHS
Medical Loan
LOANS FOR MEDICAL NEEDS ON AN EMERGENCY BASIS
Education Loan
AVAIL TAX BENEFITS ON EDUCATION LOANS FOR HIGHER STUDIES
Travel Loan
Home Renovation Loan
HOME RENOVATIONS LOANS FOR YOUR HOUSING NEEDS
Home Loan
HOME LOANS WITH INSTANT APPROVALS STARTING AT 8.95%
Home Extension Loan
CUSTOMISED SOLUTIONS FOR HOME EXTENSION NEEDS WITH TENURE UP TO 30 YEARS
Affordable Housing Loan
UNDER THE PRADHAN MANTRI AWAS YOJNA SCHEME, AVAIL INTEREST RATE SUBVENTION STARTING AT 4%
Business Loan
ONE STOP SHOP FOR BUSINESS FINANCING UP TO RS. 50 CRORES
Loan Against Property
LOAN AGAINST PROPERTY UP TO RS. 3 CRORES WITH FLEXIBLE LOAN TENURES
Loan Against Securities
UNLOCK THE POWER OF YOUR INVESTMENTS WITH LOAN AGAINST SECURITIES UP TO RS. 20 CRORES
LOAN AGAINST SECURITIES
UNLOCK THE POWER OF YOUR INVESTMENTS WITH LOAN AGAINST SECURITIES UP TO RS. 20 CRORES
Used Car Loan
Two Wheeler Loan
Mutual Fund
Mutual Fund
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 More
Consumer Durable Loan
AVAIL 0% INTEREST RATE AND ON-SPOT APPROVALS WITH YOUR NEXT ELECTRONIC PURCHASE
Insurance
Insurance
Click the "Allow" button to receive notification
STAY UPDATED!
We're constantly crafting offers and deals for you. Get them delivered straight to your device through website notifications.
All You Have To Do Is Click On "Allow".CHECKING FOR OFFERS AGAINST
Sorry! No offers found
Register below to be eligible for
Exclusive offers from Tata Capital
Are you sure?
You will not be eligible for exclusive offers from Tata Capital
thank you for SUBMITTING THE DETAILS
We will notify you in case any special offers are available
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 8.95%*.
Our home loan interest rates start at 8.95% and are competitive amongst the other players in the industry. Furthermore, depending on your loan eligibility, income, credit score, and other criteria, we determine the best interest rates for your home loan requirement.
When you apply for a home loan with Tata Capital, you do not have to worry about any hidden charges. Whether it is related to processing fees, foreclosure charges, or delayed EMI Payments, we convey all expenses in a transparent manner.
Currently, the interest rates on home loans are at a 15-year low and range anywhere from 8.95% to 12%. With Tata Capital, you can avail of housing loans that start at the latest home loan interest rates of just 8.95%*.
In the hopes of encouraging economic recovery, the Reserve Bank of India (RBI) cut down the repo rate by 40 basis points (BPS) to 4% in May 2020. As a result, interest on house loans from banks and NBFCs has dropped to incentivise home buyers.
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.
Home loan interest is usually calculated on the outstanding principal amount at the end of each day and charged every month. 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 following 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.
Use the following formula to calculate your EMI liability for your home loan-
EMI = [P x r x (1+r)^n]/[(1+r)^n-1]
Wherein:
P is the Principal,
r is the rate of interest, and n is the number of instalments or loan tenure in months.
The applicable interest rate on a home loan consists of two components: the base rate and the markup rate. The combination of these two is what you will be paying on the loan.
Markup: This component of a small percentage is added to the base rate to calculate the EIR (Effective interest rate)
Here is the formula for effective interest rate:
Effective Interest Rate (EIR) = Base Rate + Markup
The percentage of the home loan amount offered on the property is called the loan to value ratio. The LTV ratio shows the maximum amount of loan the lender offers to the applicant. If the amount sanctioned is high, the lender's home loan interest rate will be higher owing to the increased risk involved in lending.
To reduce the loan amount, you can make a large down payment and get lower home loan interest rates.
The following are the factors affecting home loan interest rates:
CIBIL score
our CIBIL score represents your creditworthiness and repayment capability, and it significantly affects the interest rate you have to pay. The higher your CIBIL score, ideally over 750, the more competitive housing loan rates you can get.
Job profile
A steady source of income, secure job, and employment with a reliable employer assure the lender of your repayment capacity and ultimately affect your housing loan interest rates.
Income
Besides your job profile, lenders consider your monthly income to evaluate your financial fitness. The greater your income is, the better your home loan eligibility. That’s why if you have any additional income sources like rental income, part-time business, etc., highlight them. You can also apply with a co-applicant, and by pooling your incomes together, you can easily qualify for a low interest home loan.
Debt-to-income ratio
To review your ability to pay off additional debt, lenders check your debt-to-income (DTI) ratio. If your monthly debt payments are significantly draining your monthly income, you will become a high-risk borrower. In that case, the lender may charge you a higher interest on the house loan.
Benchmark rate of lending
Benchmark lending rates can either be Marginal Cost of Funds based Lending Rate (MCLR) or Repo Linked Lending Rate (RLLR). RLLR is directly linked to the RBI’s repo rate and bears a quick adjustment with every change in the policy rates. The RBI has decided to phase out MCLR-based lending over time to introduce a more transparent and repo rate-receptive RLLR to offer affordability to customers and improve the overall financial system.
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.
Customer Profile | Loan Slab | ROI* (%) |
---|---|---|
Salaried | Any Amount | 8.95%* onwards |
Self Employed | Any Amount | 8.95%* onwards |
Customer Profile | Loan Slab | 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
Effective From | PLR |
---|---|
January 1st, 2023 | 19.50% |
October 1st, 2022 | 19.25% |
August 22nd, 2022 | 18.75% |
June 15th, 2022 | 18.25% |
May 16th, 2022 | 17.75% |