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Home Loans Overdraft Facility by Tata Capital

At times, you may need additional funds to tackle your personal or business expenses. However, if you have already taken a home loan, the chances of getting another loan become slim, and it isn’t advisable as well. Repaying a home loan in itself can be a long-term and challenging commitment. What you can do in such a situation is avail of a home loan overdraft facility.

The home loan overdraft facility, also known as a home loan OD facility, is a unique facility offered by home loan lenders to their customers. Under the overdraft facility on home loan, they allow their customers to deposit or withdraw funds from a pre-determined home loan OD limit. The borrowers can then repay the withdrawn amount along with the accrued interest by depositing it into the home loan overdraft account.

  • Loan amount offered

    ₹ 5 lakhs to ₹ 2 crores

  • Loan tenure

    Upto 15 years

  • Interest rate starting @

    8.95% p.a.*

Advantages of Tata Capital Home Loan Overdraft Facility

A High Home Loan OD Limit

You can avail of a high home overdraft loan limit of up to Rs. 2 crores. You can withdraw from your overdraft housing loan limit anytime you want and meet all your personal or business financial requirements with ease. 

Higher Home Loan OD Tenure

You have the flexibility to choose your home loan overdraft tenure as per your repayment capabilities. The tenure of your overdraft on home loan can go as high as 15 years so that you can repay the borrowed amount without putting any additional stress on your budget.  

Reduce Overall Costs

You can also use your overdraft facility on home loan to reduce your borrowing costs. You can make monthly payments in your home loan overdraft account, and your home loan principal amount and interest costs will reduce accordingly. 

Interest Applicable Only on Utilized Amount

One of the biggest benefits of availing of a home loan overdraft facility is that the interest is applicable only on the amount you utilize and not on the entire loan limit. An overdraft on home loan allows you to withdraw only when you need money without levying any additional interest.

No Prepayment Charges

We won’t take any prepayment charges if you wish to make full or part prepayments on your home loan with OD facility. You can make the prepayments as many times as you wish without incurring any additional charges.

Attractive Interest Rates

We understand that high interest rates can become a hurdle in borrowing and funding your financial requirements. And hence, we offer home loan overdraft facility at interest rates that do not burn a hole in your pocket.

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Eligibility Criteria for a Home Loan Overdraft Facility

You can avail of our overdraft facility on home loan and enjoy a high OD limit for your emergency financial requirements. However, for that, you’re required to meet our home loan overdraft eligibility criteria, which include:

  • Your age should be between 24 years to 65 years

  • You must be a salaried professional or self-employed individual

  • You should have taken a home loan from us against a housing property

  • Your credit score should be 750 or more

Why Should You Avail of a Home Loan Overdraft Facility?

 

As an existing home loan customer with Tata Capital, you can avail of our home loan overdraft facility to meet your various financial requirements. Here’s how you can benefit from the OD facility on home loan:

  • No Additional Collateral Required

    You are not required to submit any additional collateral to avail of an overdraft facility on home loan. It means that you can get access to a home overdraft loan without putting your personal or professional assets on the line.

  • Buy Anything You Want

    With Tata Capital’s home loan overdraft facility, you can get access to finances of up to Rs. 2 crores. You can use this amount to make big-ticket purchases, such as furniture for your house, electronic appliances, etc.

  • Build the House of Your Dreams

    You can withdraw finances from the overdraft housing loan limit and use them to reconstruct, remodel, or renovate your existing house as per your requirements. For example, you can add new spaces to your house or revamp the interiors to improve the appearance of your house.

  • Meet Your Working Capital Requirements

    If you’re a business owner, you may need working capital for your business from time to time. An overdraft facility on home loan can help you withdraw funds to meet the growing financial requirements of your business. The home loan overdraft interest rates are affordable, which can be an additional advantage.

How to apply for a Home Loan Overdraft Facility?

How to Apply for a Home Loan Overdraft Facility?

Applying for a home loan OD facility with Tata Capital is easy and convenient. If you’ve already taken a home loan with us, you can apply for an overdraft on home loan in the following ways:

  • Branch

    You can also visit your nearest Tata Capital branch to apply for an overdraft facility on home loan. Our executives there will guide you through the entire application process.

How to Apply for a Home Loan Overdraft Facility?

Applying for a home loan OD facility with Tata Capital is easy and convenient. If you’ve already taken a home loan with us, you can apply for an overdraft on home loan in the following ways:

  • Online

    You can simply visit our website and apply for a home loan overdraft facility online. You will need to enter your home loan details and upload the required documents.

  • Phone

    You can dial our customer care number 1860 267 6060 to apply for a home loan overdraft facility through your mobile phone.
  • Virtual Assistant

    You can also take the help of our virtual assistant to apply and learn about our overdraft facility on home loans.

More Home Loan products for you

Home Loan for government employees

With Tata Capital, you can apply for a home loan for government employees in a few easy steps and get housing finance at competitive interest rates.

Home Loan for self-employed

With Tata Capital, you can apply for a home loan for self employed in a few easy steps and get housing finance at competitive interest rates.

Home Loan for women

With Tata Capital, you can apply for a home loan for women in a few easy steps and get housing finance at competitive interest rates. 

What our customers say about us

Overall the experience was good and hope to continue the same. Also Tata Capital executive were nice and polite from the beginning.

Prasenjit Sen

Loan Against Property | 13 January, 2023

Thank you TATA Group for making India proud with all your hassle free and excellent services, Thanks Team

PRAMOD LINGSHETTY PATIL

Personal Loan | 31 December, 2022

I want to thank Tata Capital for giving Loan, During the process I was kept updated. Wanted to thank Tata Capital executive for answering my queries and keeping me updated on Status. Thank you

G BHASKAR

Personal Loan | 30 December, 2022

This is surprisingly easiest way to avail personal loan. I am completely happy with the service provided. Thank you team TATA CAPITAL!

Venugopal Raju

Personal Loan | 28 December, 2022

I was impressed with the way your staff handles their customers and if i come accross any family or friend who may be looking for any financial assistance, I shall surely recommend Tata capital

SHEELA AVINASH PATEL

Business Loan | 24 December, 2022

One of the best Mobile App, Tata capital only took 3-4 working day for loan approval.

ARJUN KUMAR

Personal Loan | 23 December, 2022

The services of Tata Capital is very good.. Approval process, loan charges are not hidden, every aspect was explained to me by Tata Capital executive before taking loan, very good transparency. Keep it up..

Prasanna Shriram Agashe

Personal Loan | 10 December, 2022

Excellent customer service with clarity and politeness. Thanks to TATA Capital having wonderful field staff.

S hari Haran

Two Wheeler Loan | 08 December, 2022

I am very happy that I got timely loan in my worst time.

THAKOR BHIMABHAI SHANKARJI

Personal Loan | 07 December, 2022

Find the right Loan for you

Affordable Housing Loan

  1. At Tata Capital, we believe that every single person, regardless of their financial background, deserves a home to call their own.

With this vision, Tata Capital Housing Finance offers affordable home loans at competitive interest rates. 

Affordable Housing Loan

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Home Extension Loan

  1. 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.

Home Extension Loan

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Home Loan for Self-Construction

Instead of buying a ready-to-move-in house, you can choose to purchase a piece of land and construct your house on it brick by brick. 

A home loan for self-construction or simply a home construction loan is a special type of home loan given to help borrowers construct their own house on a piece of land or plot.

Home Loan for Self-Construction

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Home Loan Top-up

A home loan top-up is a facility offered by lenders under which a borrower can take an additional loan over and above their existing home loan.

The home loan top-up facility is available only for existing home loan borrowers without the need for any additional security or guarantee.

Home Loan Top-up

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Home Loan Overdraft

At times, you may need additional funds to tackle your personal or business expenses. 

With Tata Capital’s home loan overdraft facility, you can avail of a home overdraft loan limit of up to Rs. 2 crores. You can withdraw funds from this overdraft housing loan limit as per your needs and then pay it back at your convenience.

Home Loan Overdraft

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Quick Cash

Quick Cash loan is a unique Pre-Approved personal finance top-up linked to your existing Tata Capital Housing Finance Limited (TCHFL) loans. This loan is only for existing TCHFL Home Loan and Home Equity customers.

Apart from its unique features, it also offers other advantages such as faster processing, and a paperless journey, notwithstanding that all this could be availed in just a few clicks at your convenience any day 24*7.

Quick Cash

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Balance Transfer

  1. A home loan balance transfer, or simply a home loan transfer, takes place when you transfer your outstanding home loan amount to a new lender from your existing lender.

With Tata Capital Home Loan Balance Transfer, you can transfer your outstanding home loan balance to affordable interest rates. Our home loan interest rates start from just 8.95% per annum*.

Balance Transfer

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