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/Services	Interest Rate, Features, Fees & Charges
Interest Rate	19% p.a. onwards
Loan Amount	Rs. 5 lakh – Rs. 75 lakh
Collateral	Not required
Repayment Tenure	Min. 12 months & Max. 36 months
Processing Fee	1%-2.5% of the sanctioned loan amount
Foreclosure charges	4.5% of the principal outstanding on the ongoing business loan
Penal Interest	3% on Overdue Amount per month
Loan Cancellation Charges	2% of loan amount or Rs. 5750, whichever is higher
Bounce Charges	Rs. 2000 for every Cheque/ Payment Instrument Dishonour
Mandate Rejection Service Charge	Rs. 450
Document Processing Charges	Rs. 1,999
Swapping Charges	Rs. 550
Post-dated cheque charges	Rs. 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/NBFCs	Interest Rate
IIFL Finance	11.75% – 25.75% p.a.
HDFC Bank	11.90% – 21.35% p.a.
FlexiLoans	1% per month onwards
ZipLoan	1% – 1.5% per month (Flat ROI)
Axis Bank	14.25% – 18.50% p.a.
IDFC First Bank	14.50% onwards
Kotak Mahindra Bank	16% – 19.99%
Fullerton Finance	17% – 21%
Bajaj Finserv	17% p.a. onwards
RBL Bank	17.50% – 25% p.a.
ICICI Bank	18% onwards
Indifi Finance	1.5% per month onwards
Lendingkart Finance	1.5% – 2% per month
Tata Capital Finance	19% p.a. onwards
NeoGrowth Finance	19% – 24% p.a.
Hero FinCorp	Up to 26% p.a.