Tata Capital Personal Loan Eligibility Calculator

Loan Amount - Rs.75,000 - Rs.35 lakh

Loan Tenure - 12 - 72 months

Processing Fees - Up to 2.5% of the loan amount

Tata Capital Personal Loan Eligibility Criteria

Factors Affecting Tata Capital Personal Loan Eligibility

• Age of the applicant - Applicants who are in the late twenties and early thirties can easily get a loan from Tata Capital. This is because these individuals are more likely to have a steady income and hence, would bear lesser risk to the bank.
• Monthly income - The net monthly income of the applicant is an indication of his/her loan repayment capacity. Hence, an individual with a good income after deduction of liabilities is more likely to be approved for a higher loan amount.
• Work experience - If an individual has a good amount of work experience, it is highly probable that he/she will be earning a decent salary. This implies that he/she will be more likely to honour the EMIs on the due date. Hence, the lender considers this borrower to be of lower risk.
• Employment status - Tata Capital personal loan eligibility requirements state that borrowers should have been employed with the same company for at least 6 months. This is an indication of the steady income that the applicant will be receiving.
• CIBIL score - Tata Capital provides loans to borrowers with a CIBIL score of above 750. It is advisable to maintain a good credit score before applying for the loan as this will help in ensuring that the loan application is not rejected.

How to Improve Your Chances of Getting a Tata Capital Personal Loan

1. Make a down payment - If a borrower makes a down payment for the Tata Capital loan, he/she is reducing the risk of the lender. This is a great way to ensure that the loan application is processed faster. The bank is also more likely to approve this application.
2. Add a co-applicant - In case your credit score is below 750, you can consider adding a co-signer at the time of applying for the loan. You should look for a co-signer who has a good credit history. This way the risk that you pose to the lender will be reduced, and your application may be approved faster.
3. Apply when you have a good salary - It is advisable to apply for a loan after you start earning a good take-home salary after deduction of all liabilities. This way, you will seem to be of lesser risk to the bank. The chances of your loan application being approved are hence, higher.

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