Tata Capital Loan Against Property
- Interest Rate 10.10% onwards
- Loan Amount Rs.10 lakhs to Rs.3 crores
- Loan Tenure up to 15 years
- Processing Fees 1% of the loan amount + GST
Tata Capital loan against property provides borrowers with funds against their residential or commercial properties, with interest rates starting from 10.10% per annum. Customers can avail of flexible loan amounts – anywhere from Rs.10 lakhs all the way up to Rs.3 crores, and use it to finance their business or personal requirements.
| Tata Capital Loan Against Property Summary | |
|---|---|
| Interest Rate | 10.10% onwards |
| Loan Amount | Rs.10 lakhs to Rs.3 crores |
| Loan Tenure | Up to 15 years |
| Processing Fees | 1% of the loan amount + GST |
Note : The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.
Eligibility Criteria for Tata Capital Loan Against Property
To avail of a Tata Capital loan against property,
- be salaried or self-employed residents with a minimum annual income of Rs.2.4 lakhs per annum (2.5 lakhs for self-employed applicants). The minimum annual turnover required for firms, Pvt. Ltd. organizations and public sector companies is Rs.3 lakhs.
- have minimum work experience or business continuity of at least 3 years (with 2 years cash profit for self-employed applicants).
- be between the ages of 25 and 60 with no such requirement applying to firms, Pvt. Ltd. organizations and public sector companies.
Find your how much Tata Capital LAP amount you can avail of!
Use the Fincity Loan against Property Eligibility calculator and know instantly.
Tata Capital Loan Against Property Interest Rate
Tata Capital Loan Against Property interest rate starts at 10.10% per annum. However, the lender will assess the borrower’s risk profile before deciding on the exact interest rate applicable to them. Some factors that count are the loan amount, property type and value, income, credit score and current financial obligations.
Note :The above rates are subject to change at the discretion of the banks without prior notice.
Tata Capital LAP Processing Fee and Other Charges
Here’s a list of the processing charges a borrower can expect when they apply for a Tata Capital LAP.
| Particulars | Charges |
|---|---|
| Processing Fee | Up to Rs.30 lakhs: 2% of finance amount |
| Penal interest/Additional Interest | 3% on Overdue Amount per month |
| Part Prepayment Charges (9 months lock-in period) | After 9 months, A maximum of 25% of the principal outstanding is allowed by way of part prepayment during the entire tenor of the loan, with payments being made in 2 tranches at the maximum |
| Foreclosure Charges | 4% of the outstanding principal |
| Foreclosure within Lock-in Period | Lock-in period charges (Prevailing ROI x Principal Outstanding as on date of Foreclosure x Balance Lock-in) + Foreclosure charges (4%) |
| Stamp Duty | As per actuals |
| Loan Cancellation Charges | Rs.25,000 |
| Bounce Charges | Rs.2,000 |
| Mandate Rejection Service Charge | Rs.450 |
| Instrument Swapping Charges | Rs.550 per instance |
| One-Time Maintenance Charges | Rs.2,000 |
| Legal & Technical Charges | Up to Rs.1 Crores: Rs.6,000 |
Note :The above rates are subject to change at the discretion of the banks without prior notice.
Tata Capital Loan Against Property EMI Calculation
Comparing and evaluating all your mortgage loan scheme options can help you make a sound choice and decide fast. Use the Fincity Loan Against Property EMI calculator – enter a few details such as loan amount, interest rate and tenure - and know the EMI amount applicable for each scheme along with their approximate payment schedule in seconds.
Documents Required for a Tata Capital Loan Against Property
Below is a list of documents required for a Mortgage Loan with Tata Capital.
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Note : Required documents must be self-attested and may slightly differ.
Tata Capital Loan Against Property (LAP) Benefits
With Tata Capital Loan Against Property, you have access to a high loan amount (Rs.10 lakhs – Rs.3 crores) with a repayment tenure of up to 15 years. The loan processing is quick, and it comes with prequalified top-up and overdraft facilities.
Looking for a mortgage loan that is low in rate and high in terms of benefits?
Connect with a Fincity loan advisor at lap@fincity.com and have them help you lock the lowest rate mortgage loan that stays low throughout the life of the loan.