TATA CAPITAL Home Loan
Home Loans by Tata Capital
A home loan, which is also known as a house loan, is a sum of money borrowed from a financial institution to buy or construct a house. It offers high-value financing for longer tenures at fixed or variable interest rates to help homebuyers. A home loan falls under the secured loan category since the property which is being bought is kept as collateral with the lender until the borrower has repaid the complete loan amount. At Tata Capital, we provide home loans of up to Rs. 5 crores at affordable interest rates starting from just 9.15% per annum*. Our housing loans are tailor-made to help you purchase or construct a new house without any hassles. We provide you with the flexibility to choose your loan amount, tenure, and EMIs as per your specific requirements. On top of everything, we will ask for minimum documentation and ensure instant approval. Disclaimer: Home Loans are brought to you by Tata Capital Housing Finance Limited and are at its sole discretion. Terms and conditions apply.
-
Loan amount offered
₹ 5 lakhs to ₹ 5 crores
-
Loan tenure
Upto 30 years
-
Interest rate starting @
9.15%* p.a.
Advantages Of Tata Capital Home Loan
Multi-Purpose Loans
Tata Capital housing loans allow you to do much more than just buy a property. You can avail of our home loan to purchase a ready-made or under-construction housing property, buy a plot and construct a house on it, extend or renovate your house, transfer your outstanding home loan balance, and much more!
Attractive Home Loan Interest Rates
​Our home loans come with attractive interest rates, starting from just 9.15% per annum*. Furthermore, depending on your loan eligibility, income, credit score, and other parameters, we can determine the best home loan interest rate for you. This way, you can buy your dream house without worrying about hefty EMIs.
Easy Eligibility Criteria
With Tata Capital, you can get a high-value home loan by fulfilling simple eligibility criteria. You can use our home loan eligibility calculator to know the maximum loan amount that you can avail of from us. You can also apply for a home loan online and get pre-approved offers.
Instant approval
​Get approval in just few simple steps by availing our Home Loan online.
Quick processing
Get your home loan processed quickly with no hassle.
Loan tenure up to 30 years
Our home loans provide you with the flexibility to choose your tenure as per your repayment capability. You can adjust your tenure within 5 to 30 years to keep your loan EMIs within your monthly budget. You can also start with lower EMIs and gradually increase them as your income grows.
How Does a Home Loan Work?
With a Tata Capital home loan, you can buy your dream house and repay the amount in monthly instalments. You can also avail of a home loan to construct a house on a piece of plot or remodel your existing house. Following are the components of a home loan:
Loan Amount
​It is the amount that you can borrow. You can determine your home loan amount based on various factors, including the price of the property that you wish to purchase, loan eligibility, repayment capability, etc.
Loan Disbursal
It is the process of transferring the loan amount to the borrower. When you apply for a home loan with a lender, it checks your loan eligibility and verifies all the documents before initiating the disbursal process.
EMI Repayments
You will need to repay your loan amount in Equated Monthly Instalments (EMIs). Your home loan EMIs will depend on the total amount that you have borrowed, the applicable rate of interest, and tenure. With Tata Capital Housing Finance, you have the flexibility to customize your EMIs as per your repayment capability.
Loan Closure
​The lender will keep your house as collateral until you’ve repaid your loan amount. You can either repay your home loan in EMIs or choose to foreclose it by paying the entire balance amount in one go. However, you may incur foreclosure charges in such a case..
Here’s How You Can Apply for a Tata Capital Home Loan Online:
Fill online form
Access our online home loan application form here. It should take you 10 to 15 minutes to fill up the form.
Upload documents
​Upload the self-attested copies of the required documents. After receiving your documents, we will initiate a verification process.
Expert Inspection
Our experts will inspect the property and give on-spot approval for your home loan.
Loan disbursal
​You will get your loan amount in your bank account within 3 to 5 working days.
Are You Eligible for Tata Capital Home Loan Finance?
Your home loan eligibility depends upon several factors, including your age, employment status, employment type, monthly income, and credit score. Below are the eligibility requirements for the Tata Capital home loan:
-
You must be a citizen of India
-
Your age should be between 24 and 65 years
-
If you’re a salaried employee, you must have a minimum salary of Rs. 30,000 and at least two years of work experience
-
If you’re a self-employed individual, you must have at least three years of experience in the same business
-
If you’re a Non-Resident Indian (NRI), you should be a salaried employee with at least three years of work experience
-
​Please note that this list is indicative. To know your exact eligibility, you can use our online home loan eligibility calculator or get in touch with our customer care executive.
What Is a Home Loan EMI Calculator?
A home loan can involve a significant amount of funding that can run into several lakhs or even a few crores of rupees. Hence, it’s prudent to know your EMIs before applying for a loan. A home loan EMI calculator is an online tool that can help you to do so. All you have to do is simply enter your loan amount, rate of interest, and duration, and your home loan EMIs would be displayed instantly.
What are the Advantages of getting a Home Loan?
You can avail of a home loan to purchase or construct a house, refinance an already-purchased house, or transfer your home loan balance from another lender. Below are the reasons to apply for a Tata Capital home loan:
Buy or Construct a House
Owning a house is a dream for everyone. You can fulfil this dream of yours by getting a home loan from Tata Capital. With financing of up to Rs. 5 crores, you can buy or construct a house for yourself and your family members. You can also avail of our home loan to purchase a plot or land.
Invest for the Future
Real estate properties are one of the best investment avenues in India. The appreciating value of a housing property can fetch you good returns in the future. You can avail of a home loan to invest in a housing property and secure your financial future.
Fix Anything That’s Broken
Even the best of houses suffers from wear and tear with time. You can avail of our home loan to renovate or reconstruct your house and make it a beautiful place to live in. You can also upgrade your house to make it more eco-friendly and more liveable using a home loan.
Upgrade Your House
You want to upgrade your house to make it more eco-friendly and more liveable. For example, you may want to add more space to your living room or turn your children’s room into a fantasy playground for them. You can apply for a house loan to meet all these expenses.
Housing Loan Requirements
5 Reasons Why We Are the Right Fit for Your
We Care for You
-
We provide home loans to help you fulfill your dreams without bothering you with too many formalities. We only follow statutory requirements as prescribed by the law.
We Offer Home Loans at Attractive Interest Rates
-
Our home loans come with attractive interest rates, starting from just 9.15% per annum*. You can get the lowest home loan interest rate as per your borrowing profile.
We Are Flexible
-
We provide you with complete flexibility to choose your home loan amount, tenure, and EMIs as per your repayment capability.​
We Won’t Make You Run Around
-
We only ask for minimal documents to process home loan applications. We ensure that you won’t have to run from pillar to post to get your housing finance.
We’ve Been Here for a Long Time
-
We have been in the industry for a long time. With great experience in offering housing loans, we can make your home-buying journey smooth and hassle-free.
What is Pradhan Mantri Awas Yojana (PMAY)?
-
​Pradhan Mantri Awas Yojana, or PMAY, is an affordable housing scheme launched by the Government of India in 2015. Under this scheme, the Government plans to provide an interest subsidy of up to 6.5% on home loans through a Credit Linked Subsidy Scheme (CLSS).
The beneficiaries of the PMAY scheme are divided into four categories as per their annual income:
-
Economically Weaker Section (EWS)
-
Low Income Group (LIG)
-
Mid-Income Group I (MIG I)
-
Mid-Income Group II (MIG II)
Eligible beneficiaries under this scheme can avail of housing loans at subsidized interest rates and reduce their homeownership costs.
What are the Documents Required for a Home Loan?
With Tata Capital, you can get a home loan of up to Rs. 5 crores with minimal documentation and simple eligibility criteria. Our home loan documents list includes only some basic documents, such as photo identity proof, age proof, address proof, income proof, and property documents. You can submit the documents required for housing loan online or offline at your convenience.
Although there are some common home loan documents that everyone needs to submit, the exact documents needed for home loan may depend on the applicant’s profile. For example, the documents required for home loan for salaried person may be different from the documents required for home loan for a self-employed person.
Documents Required for Home Loan for Salaried Person
Age Proof
-
A copy of your Passport, Driving License, Life Insurance Policy, Birth Certificate, PAN Card, or School Leaving Certificate
Photo Identity Proof
-
​A copy of your Voter ID Card, Passport, Driving License, Aadhaar Card, or PAN Card
Address Proof
-
A copy of your Utility Bill, Bank Statement, Property Registration Documents, Property Tax Receipt, or Voter ID Card
Income Proof
-
A copy of your Salary Slips for the last three months, Salary Bank Account Statements for the last six months, Appointment letter, Yearly increment letter, or a Certified true copy of Form 16
Existing Loan Details
-
​Existing loan details should be provided through Bank Statements or Loan Statements
Processing Fee Cheque
-
To be issued from your salary account
Documents Required for Home Loan for Self-Employed
Age Proof
-
A copy of your Passport, Driving License, Life Insurance Policy, Birth Certificate, PAN Card, or School Leaving Certificate
Photo Identity Proof
-
A copy of your Voter ID Card, Passport, Driving License, Aadhaar Card, or PAN Card
Address Proof
-
A copy of your Utility Bill, Bank Statement, Property Registration Documents, Property Tax Receipt, or Voter ID Card
Business Proof
-
A copy of the last two years' Income Tax Returns, your Business Profile on a letterhead, or your Business Registration Certificate for business commencement
Income Proof
-
A copy of the last three years' Profit & Loss (P/L) Projection Statement, Operative current account statement for the last six months, Bank statements for the last six months of CC/OD facilities (if taken)
Existing Loan Details
-
​Existing loan details should be provided through Bank statements or Loan statements
Processing Fee Cheque
-
To be issued from your business account
Documents Required for Home Loan for NRIs
Age Proof
-
A copy of your Passport, Driving License, Life Insurance Policy, Birth Certificate, PAN Card, or School Leaving Certificate
Photo Identity Proof
-
A copy of your Voter ID Card, Passport, Driving License, Aadhaar Card, or PAN Card
Address Proof
-
A copy of your Utility Bill, Bank Statement, Property Registration Documents, Property Tax Receipt, or Voter ID Card
Employment Proof
-
A copy of your pay slips for the last six months along with the employment stability documents, such as your appointment letter or previous employment history
Income Proof
-
​Overseas salary account details for Indian NRE or NRO account statements for the last six months
Credit Report
-
NRI applicants should submit a Credit Report of their current country of residence, wherever it is applicable as per Tata Capital norms
Existing Loan Details
-
Existing loan details should be provided through Bank statements or Loan statements
​Processing Fee Cheque
-
To be issued from your salary account or business account
Why is it important to Submit Home Loan Documents?
​When you’re applying for a home loan to purchase a housing property, it is mandatory to submit the necessary housing loan documents. The lender asks for these documents to check your home loan eligibility and ensure that you’re a genuine borrower. The home loan documents list that you need to submit may vary from one lending institution to another.
If you fail to submit the documents required for housing loan, the lender may not be able to establish your authenticity, and hence, it may reject your home loan application. That is why it becomes crucial to submit all housing loan documents at the time of applying for a house loan. Once you submit the documents needed for home loan, your lender initiates a verification process. Post successful verification of your documents, it sanctions your home loan amount.