Tata Capital Housing Finance Home Loan
Buying a home is a dream for many, and in this journey, you can choose Tata Capital Housing Finance Ltd. as your reliable home loan partner. TCHFL, or Tata Capital Housing Finance Limited, is a wholly-owned subsidiary of Tata Capital Limited. It is a popular NBFC helping thousands of people get funds to buy or construct homes. Tata Capital Home Loan interest rate starts at 8.70% per annum with a processing fee starting at 0.50% of the loan amount and GST extra. Applicants can get a home loan for up to 30 years tenure from Tata Capital Housing Finance on easy eligibility criteria and minimum paperwork. The minimum loan amount sanctioned by TCHFL starts at Rs. 5 lakhs and may go up to Rs. 5 crores for certain schemes.
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Tata Capital Housing Finance Key Highlights
Get the lowest interest rates with Tata Capital Housing Finance
| Loan Amount | Up to 5 crores |
|---|---|
| Rate of Interest | Starts at 8.75% per annum |
| RPLR | 19.75% |
| Processing Fee |
INR. 999 |
| Maximum Tenure for Repayment | 20yr (Salaried) | 15yr (SENP) |
| Penal Rate of Interest | |
| Rate Packages | Floater/ Fixed |
| Charges for Prepayment/Foreclosure | Nil for payment at own source | 2% for non-individuals/ balance transfer |
Tata Capital Housing Finance Interest Rates in 2024
TCHFL offers affordable housing loan schemes to eligible applicants for longer tenures both at a fixed and floater rate basis. Tata Capital Housing Finance interest rate starts at 8.75% per annum for salaried and 8.75% per annum for self-employed applicants. The table below enlists the current Tata Capital Home Loan Interest Rates 2024:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Floater/ Fixed Plans (For Salaried) | Starts at 8.70% per annum |
| Floater/ Fixed Plans (For Self Employed) | Starts at 8.85% per annum |
Interest rates were last updated on 6th May 2024
Tata Capital Home Loan Eligibility Criteria
Tata Capital Housing Finance Ltd. provides home loans with easy eligibility criteria and minimum documentation. Some of the basic eligibility criteria taken into consideration by the NBFC are in terms of age, work experience, employment, and nationality. The table below enlists Tata Capital home loan eligibility criteria for your reference:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 18 - 60 Years | 18 - 65 Years |
| Nationality | Indian Resident/ NRIs/ PIOs | Indian Resident/ NRIs/ PIOs |
| Minimum Income Earned | Rs. 30,000 per month | Nothing Specific |
Tata Capital Housing Loan Processing Fee and Charges
To process each home loan application, TCHFL charges a processing fee, which helps cover the expenses of the NBFC. Tata Capital home loan processing fee starts at 0.50% of the loan amount and GST. The table below enlists other fees and charges levied by Tata Capital Housing Finance to those applying for home loans:
| Processing Fee | 0.50% of the loan amount +GST |
|---|---|
| Charges of Cheque/ EMI Dishonour | Rs. 700 per instance |
| Reference Rate | 17.45% |
| Account Maintenance Charges | Rs. 2,000 |
| NOC Issuance Charges | Rs. 500 + GST |
| List of Documents | Rs. 500 + Applicable Taxes |
| Provisional and Final Interest Certificate | Rs. 200 + GST per contract |
| Document Retrieval Charges | Rs. 5,900 per contract |
| Penal Interest Rate | 2% Extra on the applicable rate for the delayed duration |
| Loan Cancellation Charges | Rs. 5,900 per contract |
| Prepayment/ Foreclosure Charges |
|
| Charges for Copy of Loan Agreement | Rs. 250 |
| Payment Instrument Swapping Charges | Rs. 550 |
| Statutory Charges | As applicable in the state |
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Tata Capital Home Finance Schemes and Top Plans
Tata Capital Housing Finance Ltd. offers a wide range of home loan schemes to those interested in buying a home or land, constructing a home, or extending a house. Have a look at the popular offerings of TCHFL:
1. Home Extension Loan
- Ideal for applicants who want to extend their existing home by adding a room, floor, or balcony
- Maximum loan repayment tenure of up to 30 years
- Minimum loan amount starting from Rs. 2 lakhs
2. Plot and Construction Loan
- Ideal for those keen to purchase a plot and self-construct a home
- Maximum loan amount up to Rs. 5 crores
- Maximum loan repayment tenure of up to 30 years
3. Home Loan Overdraft
- Best overdraft facility for the TCHFL existing home loan borrowers to arrange funds for personal or business requirements
- Loan amounts ranging from Rs. 5 lakhs to Rs. 2 crores
- Maximum loan repayment tenure of up to 15 years
4. Tata Capital Affordable Housing Loan
- Perfect for anyone belonging to the low or mid-income groups keen to purchase homes with affordable home loans
- Minimum loan amount starting at Rs. 2 lakhs
- Maximum loan repayment of up to 30 years
5. Balance Transfer Loan
- Idea for transferring the outstanding loan from an existing home loan to TCHFL
- Additional top-ups
- Lower interest rates
6. Tata Capital Home Loan Quick Cash
- Pre-approved personal finance top-up that is linked to an existing TCHFL loan
- Quick and instant paperless disbursements
- Maximum loan repayment tenure of up to 7 years
7. Tata Capital PMAY Scheme
- Affordable housing loan scheme offered to LIG, EWS and MIG sectors
- Subsidy benefits of up to Rs. 2.67 lakhs
- Extended loan tenure of up to 20 years
8. Home Loan Top-Up
- Flexible facility offered to borrowers to take an additional loan over the existing loan amount
- Flexible repayment EMIs
- Lower interest rates
Note: All of the above home loan plans are made available to applicants solely at the discretion of Tata Capital Home Finance, taking into consideration the earning and repayment capacity of the applicant.
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Documents Required For Tata Capital Home Loan
To approve home loans for applicants, TCHFL takes into account some eligibility criteria. For this, it asks for a set of KYC documents to check the borrower's age, nationality, income, address, and other details. The Tata Capital home loan documents required list is shared for your reference:
Documents Required for Salaried Applicants
- Appointment Letter
- Salary Slips for the last 3 months
- Certified Letter from the employer
- Bank Account Statements for last 6 months
- Yearly Increment Letter
- Form 16
- Duly filled and signed application form with a passport-size photograph
- A processing fee cheque in favor of Tata Capital Housing Finance Ltd.
- Existing loan details, if any
Documents Required for Self-Employed Applicants
- Business License
- Business Address Proof
- Profit and Loss Account Statements attested by a CA for the last 3 years
- Partnership Deed, if the business is in partnership
- Certificate of Practice (Doctors, Lawyers, etc.)
- Photocopy of Registration of Shop or Business Establishment under Shops and Establishment Act
- Bank Statements for the last 6 months showing repayment of the loan
- Duly filled and signed application form with a passport-size photograph
- A processing fee cheque in favor of Tata Capital Housing Finance Ltd.
- Existing loan details, if any
Common Documents Required from Both Salaried and Self-Employed Applicants
| Type of Document | Documents Required |
|---|---|
| Identity & Address Proof | Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card |
| Documents Related to Property |
|
TATA Capital Housing Finance Limited Customer Support
At Tata Capital Housing Finance Limited, it is their constant endeavour to put your interests first and provide you with financial solutions that are right for you. As an extension of their efforts to 'Only do what's right for you', they give you the means to get your grievances addressed. Please follow the steps below to register any complaints you might have with their services, and they will do their best to assist you.
Level 1: Write to them
To redress their grievances, applicants/borrowers may write into customercare.housing@tatacapital.com or call on customer care no. 1860 267 6060.
Applicant/borrower will receive an acknowledgment/response within 7 days.
Level 2: Escalate to Grievance Redressal Officer
If applicants/borrowers are not satisfied with the resolution provided, then they are requested to contact the TATA Capital Housing Finance Limited Grievance Redressal Officer/Nodal officer - Ms. Reshma Sethi at customerservice.head@tatacapital.com.
The applicant/borrower will receive a response within 4 business days
Level 3: Escalate to Chief Grievance Redressal Officer
If applicants/borrowers are not satisfied with the resolution provided, then they are requested to contact the TATA Capital Housing Finance Limited Chief Grievance Redressal Officer/Principal nodal officer - Mr. Ajai Shukla at gro.housing@tatacapital.com.
The applicant/borrower will receive a response within 3 business days.
Level 4: Escalate to Managing Director
If applicants/borrowers are not satisfied with the resolution provided, then they are requested to contact the TATA Capital Housing Finance Limited Managing Director at mdtchfl@tatacapital.com.
The applicant/borrower will receive a response within 2 business days.
Level 5: Approach National Housing Bank
In case applicants/borrowers do not receive a response from TATA Capital Housing Finance Limited within 30 days or are dissatisfied with the response received after following all the above steps, one can approach the regulatory authority of Housing Finance Companies- the National Housing Bank- at the address given below:
The Officer-in Charge, National Housing Bank Complaint Redressal Cell Department of Supervision National Housing Bank, 4 th Floor, Core-5A, India Habitat Centre, Lodhi Road, New Delhi 110 003.
Website: www.nhb.org.in
Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.
FAQs
The current interest rate for a Tata Capital home loan starts at 8.70% per annum. However, we suggest you verify the same by visiting the official website of the NBFC.
The procedure to apply for a home loan from Tata Capital is simple, and for this you must follow these steps:
- Fill out the loan application form
- Submit the required documents
- Submit the processing fee cheque
Alternatively, you may contact the BASIChomeloan team to assist you in the loan application process with TCHFL.
Tata Capital Housing Finance Ltd. offers a variety of housing loan schemes, such as:
- Home Extension Loans
- Plot and Construction Loans
- Quick Cash Home Loans
- Overdraft Home Loans
- Balance Transfer Loans
- Top-Ups
- PMAY Schemes
- Affordable Housing Loans
TCHFL takes 4 to 5 days to complete a home loan procedure, provided the applicant has submitted the correct set of documents along with the processing fee cheque. For even quicker home loan disbursements, you can choose the Quick Cash Home Loans from Tata Housing Finance Ltd.
Currently, TCHFL offers loan amounts up to Rs. 5 crores to eligible borrowers for certain home loan schemes.
To reduce the home loan interest in Tata Capital, you must do the following:
- Choose the suitable home loan scheme
- Maintain a decent CIBIL Score
- Choose a longer tenure
- Make a sizeable down payment
- Choose floater basis
The minimum salary required for a salaried applicant to apply for a Tata Capital Home Loan is Rs. 30,000 per month.
The minimum CIBIL score for a Tata Capital Housing loan is between 650 - 750.