Tata Capital Limited Business Loan – Eligibility, Charges, and Types of Loans

Tata Capital Limited Business Loan

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Tata Capital Limited is a financial and investment service provider in India. Tata Capital, a subsidiary of Tata Sons Limited was established in the year 2007. Tata Capital offers services such as commercial loans, private equity, treasury advisory, and credit cards. It serves corporate, retail, and institutional customers through its wholly owned subsidiary, TCFSL.

Tata Capital Limited Business Loan

Tata Capital offers business loans to self-employed individuals and business entrepreneurs to grow their business or to enhance their business. Tata Capital offers business loan products such as –

• Term loans cash credit
• Dropline overdraft facility
• Equipment finance
• Loan against security etc.

Also Read: IDFC Bank Business Loan

Types of Business Loan offered by Tata Capital Limited

Business loan schemes offered by the Tata Capital are –

• Tata Capital Business Loans for Women
• Tata Capital MSME/SME Loans
• Tata Capital Machinery Loans
• Tata Capita Working Capital Loans
• Tata Capital Construction Equipment Finance etc.

Interest Rate, Loan Amount, and Other Charges

Tata Capital Business Loan Interest Rate according to the schemes:

Eligibility Criteria

• Self-employed individuals
• Partnership firms involved in the business of Manufacturing, Trading, or Services
• Proprietors
• Pvt Ltd Co.
• Individuals with business registration
• Individuals who have been in the current business for a minimum of 3 years
• The applicant should be at least 25 years at the time of applying for the loan and should not be older than 65 years at the time of loan maturity
• Business turnover must show an upward trend
• CIBL score should be 700 or above

Documents Required

• Id proof
• Address proof
• Business proof
• Audit report
• Passport sized photographs
• Dully filled application form
• Bank statement for the last 6 months
• Proof of continuation
• Income Tax Returns for the last 2 years
• He/she should meet the requirement for company credit score and should not be under too many debts
• Other mandatory documents if required

Factors affecting the interest rate of Tata Capital on Business Loan

Business loans are offered to the individuals who wants to grow their business or start their own business. Different bank offers different interest rates, loan amount and tenure for business loans. Business loan interest rates are important accepts for every borrower because everyone wants a high loan amount at a low interest rate, but there are certain factors which may affect you to get lower interest rate for business loan. Mentioned below are some of the factors which affect your business loan eligibility.

• CIBL Score

A score of 750 or above is said to be a good and healthy score. If you have a low CIBL score then your rate of interest will be higher on the other hand if your score is higher you will get a lower interest rate.

• Nature of the Business

Your nature of business should be positive and doing of business should not be negative. Therefor nature of your business is one of the main factor which affects your business loan. On deciding the interest rate, the lenders will examine the nature of your business, whether it is profit making or loss making.

• Business Reputation

If your business reputation is good and have a steady track record of earnings, you can get attractive and lower rate of interest on business loan.

• Profit made by the Business

The lender will always examine the monthly, quarterly, and annual profit of your business before deciding the interest rate.

• Repayment History

Repayment history is another factor affecting your business loan interest rate. If your past repayment history is good then you are likely to get a lower rate of interest.

• Good Relation

Your interest rate also depends on your relation with the financial institution. If you have a good relation with the financial institution then you are likely to get a lower interest rate.

FAQs

1. When was Tata Capital Limited founded?

Ans: Tata Capital Limited was founded in the year 2007.

2. Who was the founder of Tata Capital Limited?

Ans: Ratan Tata.

3. What do you mean by Business Loan?

Ans: Business Loan is a loan which can be availed by any person who wants to start their own business or any individual who wants to expand their business.

4. Name some of the business loans offered by Tata Capital

Ans: Business loan schemes offered by the Tata Capital are as follows –

• Tata Capital Business Loans for Women
• Tata Capital MSME/SME Loans
• Tata Capital Machinery Loans
• Tata Capita Working Capital Loans
• Tata Capital Construction Equipment Finance etc.

5. How much time does Tata Capital take for disbursing the loan amount?

Ans: Your loan amount will be disbursed into your account within 2 to 3 hours.

6. Who is eligible for business loan?

Ans: The following peoples are eligible for business loan:

• Self-employed individuals
• Partnership firms involved in the business of Manufacturing, Trading, or Services
• Proprietors
• Pvt Ltd Co.
• Individuals with business registration
• Individuals who have been in the current business for a minimum of 3 years
• The applicant should be at least 25 years at the time of applying for the loan and should not be older than 65 years at the time of loan maturity

Dev Kirtonia

Hi, I’m Dev Kirtonia, Founder & CEO of Dev Library. A website that provides all SCERT, NCERT 3 to 12, and BA, B.com, B.Sc, and Computer Science with Post Graduate Notes & Suggestions, Novel, eBooks, Biography, Quotes, Study Materials, and more.