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Need a Rs 7 lakh personal loan in a pinch? Tata Capital helps you secure an instant Rs 7 lakh personal loan without any collateral or security. Whether you need a loan for your summer trip, higher education, or a loved one’s wedding, you can quickly secure your multipurpose loan at attractive interest rates.
The loan process is simple and convenient, with easy-to-meet eligibility criteria. Use our digital application process to apply for an instant personal loan of 7 lakhs and enjoy a seamless loan approval.
Quickly calculate your estimated 7 lakh personal loan EMI value using Tata Capital’s Personal Loan EMI Calculator.
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| Types of interest rate/charges | Charges |
|---|---|
| Processing Fees | Up to 4% of the loan amount + GST |
| Payment Instrument Swapping Charges | Rs. 550 + GST per instance for swapping eMandate or post-dated cheques for EMI repayment |
| Dishonour of any check/payment instruments | Rs. 600 for every cheque/payment instrument dishonour |
| Duplicate NOC Charges | Rs. 550 + GST for issuing a duplicate No Objection Certificate (NOC) |
| CCOD annual maintenance charges | CCOD Annual Maintenance Charges are fees for maintaining a Personal Loan Overdraft. Tata Capital charges 0.25% of the reduced limit or Rs. 1,000, whichever is higher, after 13 months. |
| Collection charge | Charges will be ‘At Actuals’ |
| Statement of accounts | Rs. 250 + GST for hard copy |
| Loan cancellation charges | If you cancel your loan after disbursement, Tata Capital charges 2% of the loan amount or Rs. 5,750, whichever is higher. |
| Part Payment Charges |
- Lock-in period of 12 months - Part prepayment allowed once per year, with a 6-month gap - Maximum of 50% of principal outstanding allowed per year - Charges of 4.5% on prepayments over 25% of principal outstanding (up to 50%) - No part payment allowed during the first 12 months - Minimum part prepayment amount should be ≥ 2 months EMI - Third-party cheques/payment instruments not allowed for part |
| Foreclosure charges on term loan facility |
- The lock-in period is 12 months from the first disbursement. - The foreclosure charge is 4.5% of the principal outstanding at the time of foreclosure. - If the borrower forecloses after making a part prepayment, 4.5% will be charged on the outstanding principal plus the prepayment amount. - Any prepayment or foreclosure during the lock-in period will incur an additional 2% charge on the principal outstanding. |
| Foreclosure charges for top-up |
- The lock-in period is 12 months from the first disbursement. - The foreclosure charge is 4.5% on the principal outstanding at the time of foreclosure. - 2.50% on the future principal outstanding on the existing loan. - Charges apply only if the new rate is lower than the existing rate. - Any prepayment or foreclosure during the lock-in period will incur a 4.5% charge on the principal outstanding. |
| Foreclosure charges in CCOD cases |
- The lock-in period is 12 months from the first disbursement. - The foreclosure charge is 4.5% on the dropped-down limit amount. - Any prepayment or foreclosure during the lock-in period will incur an additional 2% over and above the prepayment charges mentioned above on the dropped-down limit. |
| Foreclosure report | Rs. 199 + GST for hard copy |
| Processing Fees | Up to 4% of the loan amount + GST |
| Payment Instrument Swapping Charges | Rs. 550 + GST per instance for swapping eMandate or post-dated cheques for EMI repayment |
| Dishonour of any check/payment instruments | Rs. 600 for every cheque/payment instrument dishonour |
| Duplicate NOC Charges | Rs. 550 + GST for issuing a duplicate No Objection Certificate (NOC) |
The EMI for a Rs. 7 lakh personal loan depends on how long you take to repay it. Shorter tenures come with higher EMIs, while longer tenures reduce the monthly amount.
For example, say you take a Rs. 7 lakh loan at a 10.99% interest rate for 6 years. Here's what your potential EMIs would look like:
| Loan Amount | Interest Rate | Tenure | EMI (Approx.) |
|---|---|---|---|
| 7,00,000 | 10.99% p.a. | 1 year | 61,863 |
| 7,00,000 | 10.99% p.a. | 2 years | 32,622 |
| 7,00,000 | 10.99% p.a. | 3 years | 22,913 |
| 7,00,000 | 10.99% p.a. | 4 years | 18,088 |
| 7,00,000 | 10.99% p.a. | 5 years | 15,216 |
| 7,00,000 | 10.99% p.a. | 6 years | 13,320 |
At Tata Capital, we offer a simple and easy-to-meet eligibility criteria for salaried individuals.
Photo Identity Proof: A copy of your Aadhaar card/ Voter ID/ Passport/ Driving license
Address Proof: A copy of your Aadhaar card/ Passport/ Driving license/ Voter ID
Bank Statement: Primary Bank Statement (Salary Account) for the last 3 months.
Copy of salary slips for the last two months
A certificate stating one year of continuous employment
When taking a ₹7 lakh personal loan, you can opt for different repayment options based on your income and comfort:
1. Standard EMI Repayment: This option lets you pay a fixed EMI every month, making it easy to plan your budget. In the beginning, most of the EMI goes toward interest, and later instalments reduce the principal. It offers predictability and helps you stay disciplined with payments.
2. Step-Up Repayment: Here, you start with smaller EMIs that gradually increase over time. This works well for borrowers who expect their income to rise, such as young professionals or people expecting promotions.
3. Step-Down Repayment: This option begins with higher EMIs that become smaller later. It is suitable for people with a high current income who want to repay a large portion of the loan early and reduce interest costs.
4. Prepayment or Foreclosure: You can repay part of the loan or close it entirely before the tenure ends if you receive extra income. This helps reduce interest, clear the loan faster, and improve your credit score, although some lenders may charge a fee.
It’s that simple. Enjoy your personal instant loan disbursement!
Tata Capital offers flexible and convenient personal loans that make borrowing easier. You can secure a loan for Rs. 7 lakh and repay it comfortably over a tenure of up to 6 years. Interest rates start at 10.99% p.a., giving you competitive options. The loan is multipurpose, so you can use the funds for travel, weddings, education, or any personal need.
Tata Capital's personal loans are unsecured. This means you don't have to provide any collateral or security. You can also leverage the overdraft facility to withdraw extra funds when needed and pay interest only on what you use.
To apply for a 7 lakh personal loan with Tata Capital, visit our website and follow our simple application process. Fill out your mobile number and occupation type, loan requirements, and personal details. Lastly, upload the required documents. Once approved, your loan of 7 lakhs will be disbursed into your account in no time.
The monthly EMI for a Rs. 7 lakh personal loan varies depending on various factors such as loan duration and rate of interest. You can use Tata Capital's 7 lakh personal Loan EMI calculator to calculate your estimated monthly EMI.
To apply for a personal loan up to 7 lakhs, you need to submit a few documents. At Tata Capital, we require minimal documents, including photo identity proof, address proof, income proof, copy of salary statements of the last two months, and a certificate stating one year of continuous employment.
In case a salary slip is not available, you may provide alternate proofs of income. These can include recent salary slips, bank statements showing salary credits, Form 16, or your latest ITR with acknowledgement.
You don’t need to provide any collateral for a ₹7 lakh personal loan from Tata Capital. We offer unsecured loans, meaning you can get the funds you need without having to pledge any assets.
There are several options you can use to get a personal loan without income proof. You may provide alternate proofs of income such as recent salary slips, bank statements showing salary credits, Form 16, or your latest ITR with acknowledgement.
A credit score of 750 or above is advised when applying for a personal loan. The higher your credit score, the higher your chances of securing an instant 7 lakh personal loan with better interest rates.
To apply for a 7 lakh loan, you must submit a copy of your PAN and Aadhar Card along with other required documents such as address and income proof. Applying with an Aadhar Card that is linked to your PAN and bank account simplifies the documentation process and cuts down on processing time.
You can apply for an instant ₹7 lakh personal loan with Tata Capital during an emergency. The process is quick and simple. Just click ‘Apply Now’, fill in your personal details and loan requirements, authorise the eMandate, and accept the e-agreement to get the funds you need without delay.
The ₹7 lakh personal loan EMI for 5 years at around 10.99% interest is roughly ₹15,200 per month. The exact amount for the 7 lakh loan for 5 years may change based on your interest rate, credit score, and lender policies. Use an EMI calculator for accurate results.
With Tata Capital, you can secure a ₹7 lakh personal loan for a tenure ranging from 1 to 6 years. You can pick a shorter tenure to finish the loan faster or choose a longer tenure to reduce your EMI and make monthly payments easier.
To get an instant ₹7 lakh personal loan from Tata Capital, you'll need to submit an ID proof, address proof, bank statements, a copy of salary slips, and a certificate stating one year of continuous employment.
Yes, salaried and self-employed individuals can apply. You simply need to meet the income, age, and credit score requirements. Your occupation type does not limit your eligibility.
If your documents are complete and your profile matches the eligibility criteria, funds can be approved and disbursed quickly. In most cases, the money is deposited into your account in 24 to 48 hours.
Last updated on: 29 Dec, 2025
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