When Can You Take a Personal Loan?
A personal loan helps you address various financial needs conveniently. Major expenses often come up without warning, so don’t let them drain all your savings. Here are some common scenarios where you can take personal loans:
Travel - Need a break from the rush and hubbub of city life? Plan the perfect trip at the best vacation spots with our easy personal loans tailored for your travelling needs. Know More >
Medical - Health crises can arrive unannounced, manage your expenditure with a hassle-free personal loan. Get instant access to funds in an easy borrowing experience with Tata Capital’s medical loan. Plan Now >
Education - Your child deserves the best education from the leading institutions. Get Tata Capital’s customised personal loans and manage your educational expenses like tuition fees, living costs, and more. View Now >
Wedding - Weddings are an expensive affair, but don’t let the cash crunch crash your dream wedding. Avail a personal loan for wedding and bring your fairy-tale wedding to reality. See More >
Home Renovation - Redecorate, restyle, and refurbish your home with trends and designs of your choice. Spruce up your dream house with a personal loan from Tata Capital and conveniently repay through flexible EMI options. Know More >
Personal Loan Eligibility
Applicant’s personal loan eligibility depends on various factors, including a fixed monthly income, age, nature of employment, CIBIL score, professional experience, etc. For a quick personal loan from Tata Capital, you must fulfil the easy-to-meet eligibility criteria.Your personal details including your PAN number, CIBIL score & KYC documents.
The personal loan eligibility for Salaried individuals:
The personal loan eligibility for Self-Employed individuals:
Documents Required for Personal Loan
The following are the documents required for personal loan with Tata Capital:
- Photo Identity Proof documents
- Income Proof documents
- Salary Slips
- Address Proof documents and
- Employment Certificate
To know the entire list of accepted documents, visit our personal loan documents page.
What is the Importance of CIBIL Score for Personal Loan?
CIBIL score, an important indicator of your credit health, is a three-digit number summarising your credit history, report, and rating. The score ranges from 300 to 900 and indicates your ability to repay your personal loan amount in a timely manner.
CIBIL score plays a decisive role in the personal loan application process. When a self-employed or salaried individual approaches a financial institution for a loan, the lender checks the CIBIL score and report of the applicant. If your CIBIL score is low, it reduces your chances of getting the loan. The score also affects your loan interest rates, tenure, amount, and EMI. The higher the CIBIL score, the better.
Generally, the minimum CIBIL score required for availing a personal loan is 750.
What is a Personal Loan EMI Calculator?
Personal Loan EMI calculator helps you calculate the EMI that you need to pay towards the principal payments and interest payment over the loan tenure. Use the EMI calculator to know how much money you can pay monthly over a period of time that’s comfortable for you. With the help of our Personal Loan EMI calculator, you can plan your monthly installments and conveniently pay off the loan.
How to Apply for a Personal Loan?
For offline loan applications:
- Visit your nearby Tata Capital branch.
- Submit the personal loan application and the required documents.
- You can also get in touch with Tata Capital representative over a phone call.
- Offline loan applications can take a few business days to process.
For an instant personal loan applications, go online:
- To get swift approval on the personal loan, apply online with necessary details.
- Personal loan online applications are approved within minutes from submission.
- Acquire loan eligibility and furnish the required documents.
- After that, experts verify the loan application and submitted papers.
- Upon approval, the loan is sanctioned, and you receive the amount directly in your bank account.
What are the Personal Loan EMI options available?
The standard EMI option under personal loans is one in which you get the freedom to pay off your principal loan amount inclusive of interest consistently on a monthly basis. Here, the interest is charged on the total principal amount that was borrowed.
- Flexi Interest-Only Loan EMI
A flexi interest-only EMI option offers a pre-approved cash limit that can be withdrawn as and when you are in need of funds. Here, the interest will be charged only on the amount used and not on the total principal amount borrowed.
A step-up flexi EMI option in personal loan is one which offers greater flexibility. Under this plan, you can pay lower EMIs in the beginning and pay more gradually as your salary hikes.
To understand the repayment options available to you, visit our Personal Loan EMI options page
Instant Personal Loans in Your City
Get instant access to funds and take care of a wide range of financial needs anywhere in the country. With limited documentation and a hassle-free loan approval process, you can avail a personal loan for amounts as high as Rs. 25 lakhs. Tata Capital provides quality services and 24x7 assistance across major cities in India.
Looking to tick things off your bucket list but short on funds? Get a quick personal loan in any of India’s top commercial cities with Tata Capital.