Tata Capital - 9.85% for Loan Against Property - Loan Against Commercial Property

Tata Capital Loan Against Property:

Tata Capital provides secured loans that are ideally aimed to provide financial aid towards personal or business needs by utilizing the value of an owned property.

This secured loan is provided to salaried and self-employed individuals alike on properties that are commercial or residential.

The loan thus availed can be used for personal or business needs for any term (subject to the repayment period).

Loan against Property from Tata Capital is a specific term loan with repayment period of up to 15 years.

Tata Capital offers loan against property to meet your business as well as personal needs against the mortgage of your existing residential or commercial property.

 

Interest Rate

9.85%* p.a. onwards

Loan Amount

Rs 10 lakhs – Rs 3 crore

Tenure

Up to 15 years

Processing Fee

Up to 2% of finance amount

 

Tata Capital Loan Against Property Fees & Charges Processing fee:

 Loan Amount

Charges Applicable

Up to Rs 30 lakhs

2% of finance amount + GST

From 30 lakhs to 50 lakhs

1.5% of finance amount + GST

Above Rs 50 lakhs Home Extension

1% of finance amount + GST

Above Rs 50 lakhs Home Extension Plus

1.25% of finance amount + GST

 

Taking a loan from Tata Capital has the following benefits:

1. Minimal documentation and faster approval.

2. Commercial as well as residential property accepted as collateral.

3. High loan amounts up to INR 3 crores.

4. Quick and easy process.

5. Pre-Qualified Top Up.

6. Overdraft Facility Available.

 

Tata Capital Loan against Property:

Apply:

If you want to get a loan against property from Tata Capital, the process to get the loan is fairly easy.

All you need to do is to apply for a home loan at Apnarupee.com.

We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, ICICI, etc.

Your loan application will be processed and Tata Capital (Loan against Property) Loans representatives will get in touch to begin the process of getting a home loan.

You will also be assisted by Apnarupee.com housing loan advisor to ensure that all the lending process is smooth, quick and you get the best loan against property from Tata Capital.

You can also do a comparison of Tata Capital Loan against property rates and other charges using the Apnarupee.com comparison tool.

Once you apply online, you can check the real-time status of your loan against property in your customer account section of Apnarupee.com.

 

Factors Affecting Tata Capital Loan against Property Interest Rates:

Loan amount: 

Property loan rates in Tata capital depend upon the loan amount you apply.

 

Your Net Monthly Income: 

Income helps you in identifying your rate of interest.

Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.

 

Type of loan opted for: 

Tata Capital offers differential rates for customer’s different profiles and also fixed and floating rate schemes.

Loan against property interest rates may be higher or lower for special loan products.

 

Type of property: 

Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.

 

Your profession: 

Tata Capital may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman.

A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or

business compared to salaried people who will most likely take a mortgage loan for his personal purposes.

 

Tata Capital Loan Against Property Documents Required:

For Self-Employed:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 3 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof,

profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

 

For Salaried employee:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 2 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Income Documents – 6 months’ pay slip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

 

Property documents:

1. Registered Sale Deed/ Conveyance/ Lease Deed

2. Past Sale Deeds Chain (each transaction in respect of this property since first allotment

3. Latest House Tax Return/ Receipt

4. Approved Building Plan from Municipal Corporation

 

Tata Capital Loan against Property: Offers & Schemes:

 

1.Tata Capital LAP for Companies(Listed/Unlisted):

It is right to say the fact that, business entities are always on a lookout for expanding their company in order to make huge profit ahead.

For such purpose, investing additional capital is what they require to arrange which is completely possible with TATA Capital LAP.

Commercial borrowers have the advantage of drawing maximum of 3 crore from this loan scheme for a maximum of 10 years as tenure with low EMI and rate of interest benefit.

Plus, they have additional advantage of going for foreclosure by paying of little charges for that.

 

2.Tata Capital Property Purchase Loan:

Additional feature that Tata Capital provides to its borrowers is the benefit of property purchase loan.

Under this scheme, individuals can buy additional property by taking loan on the existing property no matter used for personal or commercial purpose.

 
3.Tata Capital Lease Rental Discounting Loan(LRD):

Taking a loan on rented property was quite difficult earlier but not now especially with the availability of TATA Capital Lease Rental Discounting Loan (LRD).

Under this particular scheme home owner who is also a borrower of a rented property he/she has can ask for an external monetary aid from a financial institution in order to utilize for personal or commercial purpose.

In short, anybody who is holding rental receipts and lease contract as proof of rented property can apply for this loan from TATA Capital at low interest rate and EMI option.

 
4.Tata Capital Loan Against Property Balance Transfer

One of the best feature of TATA Capital loan against property is balance transfer that allows the borrowers to shift the tenure of loan from this particular

to any another whose rate of interest is much less as compared to previous one.

This is a like a beneficial flexibility on the part of borrowers that can switch to other bank any point of time.

 

Frequently Asked Questions:

 

Q. What is the amount of loan being offered in loan against property?

Ans. Minimum of 5 Lakhs and maximum of 3 crores is offered under this loan scheme.

 
Q. Is there any security or collateral required for this loan?

Ans. Since, this is a loan against property, so your property itself is the security or collateral.