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A copy of your Voter ID / Passport / Driving License / Aadhaar Card
A copy of your Bank statements for the last six months
A copy of your Salary Slips for the last three months
A copy of your Ration Card / Electricity Bill / Passport
A certificate stating one year of continuous employment
Our interest rates start from 10.99% and we make sure you are offered competitive rate. However, your interest rate also depends on loan eligibility, income and other such factors.
When you apply for a Home Renovation 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, all information is transparently-provided for smooth processing of your Home Renovation.
The following general charges are involved under personal loans –
Processing fee is a one-time fee charged by lenders at the time of processing the personal loan application. It is non-refundable even if the loan does not get sanctioned.
Penal interest is the rate of interest that will be charged on delayed monthly instalments. The borrower will now be required to pay the delayed instalment inclusive of the additional interest.
The following table shows the general charges levied by Tata Capital on our personal loans -
Upto 2.75% of the loan amount + GST
3% on Overdue amount per month + GST
The following miscellaneous charges are also involved under personal loans -
These are those charges that are levied in case of an EMI bounce. In other words, these charges are levied when you miss a personal loanEMI payment due to inadequate funds in your bank account.
Mandate rejection service charge is the charge levied on the rejection of any of the services rendered by the lender.
CCOD Annual maintenance charges are the charges levied on those who have chosen a flexible funding option such as Cash Credit or Overdraft. It is charged for the maintenance of the Overdraft
If the cheque you have issued for payment has been made to a non-local branch, lenders will levy an outstation collection charge for the collection of such cheques.
Lenders will charge a certain amount to issue your Statement of Accounts - a bank statement having a list of all transactions made from your bank account during a given period. But this amount will be charged only for a hard copy, the soft copy being free of cost.
If you wish to cancel your personal loan following the process of loan disbursement, the lender will charge a loan cancellation charge.
If you wish to exchange or swap your personal loan liability or the cash flow with a different financial instrument, you can do so after paying instrument swap charges.
Your lender will share a repayment or amortisation schedule – a table that displays how your loan evolves over time. If for some reason, you need a duplicate of this schedule, you can apply for a new one, available in both hard and soft copies. While the soft copy is free of charge, a certain fee will be charged for the hard copy.
If you need to apply for a duplicate No Objection Certificate due to any reason, your lender will issue a new one in your name after you pay a specific fee.
If you make an EMI payment using a post-dated cheque – one in which the date mentioned is subsequent to the date in which the cheque was drawn, you will be charged a fee known as post-date cheque charge.
Refer the table below to know about the different miscellaneous charges levied by Tata Capital on our personal loans.
Rs. 600 for every cheque/Payment Instrument Dishonour + GST
₹ 450 + GST
Charges will be applicable on your EMI Due date in case the account does not have an Active mandate after the exhaustion of the given post-dated cheques. This charge would be applied every month until there is an Active Mandate linked to the account
0.25% on Dropline Amount + GST or ₹ 1000, whichever is higher per year will be deducted from the limit and shall be payable at the end of the 13th month.
Rs. 100 + GST per repayment tenure
Soft Copy – Nil.
Branch Walk-in – Rs. 250 + GST
2% of loan amount or Rs. 5,750, whichever is higher + GST
Rs. 550 + GST
Soft Copy – Nil
Branch Walk-In – Rs. 550 + GST
Rs. 550 + GST
Rs. 850 + GST
The following Foreclosure & Pre-payment/Part-payment charges are also involved under Personal loans –
(Lock-in period - 6 months from the date of the first disbursement)
Foreclosure charges are levied at the time of pre-payment of a personal loan, whether in part or in full. No foreclosure charges are levied on loans with floating interest rates.
If you wish to pre-pay, whether in part or in full, the top-up loan that you had taken over and above your existing personal loan, the lender will levy what is known as foreclosure charges for top-up. These charges will only be levied if the new interest rate is lower than the old one.
If you wish to pre-pay, whether in part or in full, your personal loan taken as Cash Credit or Overdraft, the lending authority will levy a foreclosure charge for the same.
If you fall behind on your monthly EMI payments, the lender will issue a foreclosure notice or letter notifying you of the same. The soft copy of this letter is free of cost whereas the lender will charge a certain foreclosure letter charge for a hard copy.
The table below shows the foreclosure charges levied by Tata Capital on our personal loans -
Part Prepayment is allowed once per year and the minimum gap between two part prepayments to be six months.
A maximum of 25% of the principal outstanding is allowed by way of part prepayment during a single year.
A part prepayment charges of 2.5% + applicable taxes shall be applicable on amount over and above 25% of principal outstanding
No part payment is allowed during the 6 month Lock-in period
No foreclosure allowed for the first 6 months (Lock-in period).
If foreclosed within 6 months post completing part pre-payment:
4.5% of the Principal outstanding at the time of foreclosure + GST + Part pre-payment amount
2.50% on the principal outstanding at the time of foreclosure + GST
Foreclosure charges shall be levied only if new rate is lower than existing rate.
Any prepayment /foreclosure made during the Lock-in Period will attract prepayment/foreclosure charges of 4.5% + applicable taxes on the principal outstanding
4.5% on the Dropped down limit amount + GST
Any prepayment /foreclosure made during the Lock-in Period will attract additional 2% over and above the prepayment/foreclosure charges mentioned in (a) above + applicable taxes on the Dropped down limit
4.5% on the principal outstanding at the time of foreclosure + GST
In case the Borrower forecloses the Facility within 6 months after doing part prepayment, foreclosure charges of 4.5% + Applicable taxes will be levied on the principal outstanding plus part prepayment amount.
Any prepayment/foreclosure made during the Lock-in period will attract additional 2% over and above the prepayment/foreclosure charges mentioned in (a) above + applicable taxes on the principal outstanding at the time of foreclosure
Soft Copy – Nil
Branch Walk-In – Rs. 199 + GST
The fees/charges indicated above are subject to revision at Tata Capital’s discretion from time to time.
Improving your home is great but can be costly affair. With the Home Renovation Loan, you can completely revamp your living space. You can remodel your kitchen, upgrade your bedroom, turn the study into a playroom or just take care of house maintenance with the Home Renovation Loan. Consider putting your plans in motion with Tata Capital Personal Loan for Home Renovation.
Our interest rates begin from 10.99% and are highly competitive.
Some of the benefits of the Home Renovation Loan are:
Our Home Renovation Loans are tailored to help you cover multiple costs. The Home Renovation Loan covers:
To be eligible for a Home Renovation Loan:
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Thinking to repair or renovate your home? Upgrade your house with a new look & redesign your dream home with Tata Capital Home Renovation loan.Know More
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