




What are the Interest Rates on Personal Loans ?
Tata Capital Personal Loan offers very competitive interest rates on Personal Loans ranging between 11.49% -19% per annum. However this will further depend on eligibility, income, whether salaried or self-employed and other criteria to determine the interest rates for the loan offered.
Personal Loan Interest Rates and Processing Fees
Sr.No. | Details | Minimum | Maximum |
1 | Personal Loan Interest Rates Per Annum | 11.49% | 19.00% |
2 | Personal Loan Amount | Rs 75,000.00 | Rs 25,00,000/- |
3 | Processing Fees | Up to 2.00% | |
4 | Loan Tenure | 12 Months | 72 Months |
5 | Preclosure Fee* | Upto 4.00% | |
6 | Part Payment Fee | Rs 0.00 |
*Preclosure permitted only after 12 months. Charges applicable on principal outstanding on the date of foreclosure.
GST and other applicable taxes would be charged as per the current prevalent tax regime.
You can go through our detailed Personal Loan Fees and Charges.
How are Personal Loan Interest Rates calculated ?
Personal Loan Interest Rates are usually calculated using a reducing balance method that means you are charged interest only on the principal outstanding. Depending on your financial institution and loan amount, you may get a personal loan with daily reducing, monthly reducing or annual reducing balance on which the interest will be charged.
What does your interest rate depend upon ?
Personal Loan interest rates depends on a variety of factors, some of them are:
Are you eligible to take a Personal Loan ?
There are some basic eligibility factors for taking a personal loan. Some are mostly applicable across any financial institution.
Check your Personal Loan Eligibility with Tata Capital.
How Much Personal Loan EMI do you have to pay ?
EMI depends on various factors such as personal loan amount, tenure, interest rate and type of loan.
For example, you have taken a personal loan on monthly reducing balance for Rs. 5 Lakhs at 13.50% per annum interest rate, for a tenure of 36 months. The EMI is charged in the beginning of each month. Your EMI in this case would be Rs. 16,968/- payable at the beginning of each month out of which Rs. 11,343/- would be towards the principal amount and Rs. 5,625/- towards the interest payment. In a reducing balance case, though the EMI remains the same but each month your principal payment would get higher.
You can use the Personal Loan EMI calculator to understand your EMI and breakup of principal & interest payment or can talk to our representative for a detailed illustration.
What are the documents needed for a Personal Loan ?
We need some absolutely basic documents to offer you a Personal loan. At Tata Capital, we try to make it as hassle-free as possible.
Make sure you have all the required documents for a personal loan.
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