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Tata Capital Business Loan – Tata Capital Business Loan Interest Rate 2023

Tata Capital Business Loan – Tata Capital offers collateral-free business loans up to Rs. 75 lakhs at an interest rate of 19% per annum. Ahead of. The company provides customized loan solutions for your day to day business needs as well as various business expansion services. The maximum loan amount that can be given is Rs. 75 lakh with a repayment tenure of up to 36 months.

Features of Tata Capital Business Loan

Following are the salient features of Tata Capital Business Loan:

Tata Capital offers unsecured business loans
no collateral required
Interest rate: 19% per annum onwards
Loan Amount: Minimum Rs. 5 Lakhs and Max. 75 lakhs up to Rs.
Repayment Schedule: 12 months to 36 months
There are 3 types of business loans available –
Working capital loan to help you meet the day-to-day operations of the company
Machinery loan to purchase new machines or repair old equipment and enhance overall quality
MSME and SME loans to run small businesses effectively

Tata Capital Business Loan Interest Rate & Charges – 2023

Category/Type/ServicesInterest Rate, Features, Fees & Charges
Interest Rate19% p.a. onwards
Loan AmountRs. 5 lakh – Rs. 75 lakh
CollateralNot required
Repayment TenureMin. 12 months & Max. 36 months
Processing Fee1%-2.5% of the sanctioned loan amount
Foreclosure charges4.5% of the principal outstanding on the ongoing business loan
Penal Interest3% on Overdue Amount per month
Loan Cancellation Charges2% of loan amount or Rs. 5750, whichever is higher
Bounce ChargesRs. 2000 for every Cheque/ Payment Instrument Dishonour
Mandate Rejection Service ChargeRs. 450
Document Processing ChargesRs. 1,999
Swapping ChargesRs. 550
Post-dated cheque chargesRs. 850

Eligibility Criteria

The following are the key criteria that must be met while applying for a business loan:

Loan applicant should be in the age group of 25-65 years
Loan is available to businesses that have been in operation for at least 3 consecutive financial years
Applicant should have spent 2 years in the same business
The business should have shown continuous growth and cash profit in the last 2 years
The loan is available to a business that is currently in operation and has had their balance sheet reviewed by a Registered Chartered Accountant

Documents Required for Loan Application

Duly filled application form with passport size photograph
Identity Proof like Voter Card, Aadhaar Card, Passport, Driving License
Address Proof like Aadhar Card, Passport, Driving licensee
Last 6 months bank statement
business pan card
Business proof like establishment or sales tax certificate or trade license
ownership document
Sole Proprietorship Declaration or Partnership Deed certified copy
IT returns for the last 2 financial years
Balance sheet and profit/loss statement for the last 2 financial years
Any other document required by Tata Capital

Comparison of Business Loan offered by Tata Capital vs other Banks/NBFCs

Bank/NBFCsInterest Rate
IIFL Finance11.75% – 25.75% p.a.
HDFC Bank11.90% – 21.35% p.a.
FlexiLoans1% per month onwards
ZipLoan1% – 1.5% per month (Flat ROI)
Axis Bank14.25% – 18.50% p.a.
IDFC First Bank14.50% onwards
Kotak Mahindra Bank16% – 19.99%
Fullerton Finance17% – 21%
Bajaj Finserv17% p.a. onwards
RBL Bank17.50% – 25% p.a.
ICICI Bank18% onwards
Indifi Finance1.5% per month onwards
Lendingkart Finance1.5% – 2% per month
Tata Capital Finance19% p.a. onwards
NeoGrowth Finance19% – 24% p.a.
Hero FinCorpUp to 26% p.a.

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