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How To Get Business Loan in Tata Capital - Benefits, Features, Documents, Eligibility

Business loans provided by Tata Capital are collateral-free and can be used to start a new business, buy new equipment, establish a new business, etc. Typically, business loans carry a rate of 19% per annum, while the amount you can borrow ranges from Rs.5 lakhs to Rs.75 lakhs.

Tax Benefit

Upto Rs. 46800

Tax Benefit

Upto Rs. 46800

Tax Benefit

Upto Rs. 46800

Apply for Business Loan

Tata Capital business loan




 

Introduction

 

SMEs are the backbone of India’s economy. Their innovative and technical skills, as well as employment opportunities, make them vital to the economy. Over 65% of the Indian population lives in rural or semi-urban areas where small businesses are the primary source of income. Furthermore, small businesses in India provide jobs that are more plentiful than those provided by agriculture. Demand for goods and consumers’ buying are expected to increase, resulting in continued market growth.

 

Business loans provided by Tata Capital are collateral-free and can be used to start a new business, buy new equipment, establish a new business, etc. Typically, business loans carry a rate of 19% per annum, while the amount you can borrow ranges from Rs.5 lakhs to Rs.75 lakhs. The repayment period for the loan can vary from 12 months to 36 months.

 

Tata Capital Business Loan Interest Rate & Charges

 

Interest rate19 percent per annum onwards
Processing feeFrom 1.50 % Up to 2.50% of the loan amount plus taxes
TenureFrom 12 to 36 months
Loan amountMin 5 Lacs and Maximum 75 Lacs
Part-payment facilityNot permitted
Penal interest3% on Overdue Amount per month + GST
Foreclosure charges

Upon 6 EMIs only, at 4.5% plus taxes on the outstanding balance

In the first nine months, foreclosures are not permitted. Thereafter, at 6.5% in case of foreclosure within 9 months

Features:

 

Tata Capital Business Loan has the following characteristics:

  • Purpose of the loan: Expansion of your business, the addition of units, or purchase of assets are possible with these services

 

  • Age group- Borrowers with the age group of 25 to 65 years are eligible to apply.

 

  • Security: Business loans from Tata Capital are secured as well as unsecured

 

  • Interest Rate: 19% p.a. onwards

 

  • Loan Amount: Minimum Rs. 5 lakh & Max. up to Rs. 75 lakhs

 

  • Repayment Tenure: From 12 months to 36 months

 

  • Lowest EMI begins from 2990/-

 

Eligibility Criteria

 

Among the requirements for business loans are age limit, revenue generated by a particular business, profitability, credit rating, and financial statements. Institutions evaluate customer creditworthiness to determine if they are eligible for and can repay a loan on time.

 

At Tata Capital, with its flexible lending criteria, enables companies to access large loans with long repayment terms. Applicants can check if they are eligible for a Tata Capital business loan online by checking these conditions:

  • An applicant for the loan must be between 25 and 65 years old

 

  • Financial Performance-Three consecutive years of consistent performance is required

 

  • Two years of experience in the same business is required

 

  • Growth and cash profit must be constant over the last two years

 

  • CIBIL score of 750 or higher

 

List of Tata Capital Business Loans

 



 

The following types of business loans are offered by Tata Capital:

 

Business loans for women

 

Women entrepreneurs are growing in number in every segment of the business world today. Yet they have always had a hard time securing funding for their businesses’ various needs. Thanks to the presence of numerous banks and financial institutions, funding has become easier to access. Now, women can get low-interest business loans that have different eligibility criteria and reduced interest rates.

 

Tata capital extends its assistance to women entrepreneurs at competitive rates of interest. You can choose your own repayment plan. Their objective is to help new entrepreneurs start their businesses, fund working capital or expand existing companies. Whether to start their own business, raise working capital, or expand, Tata Capital offers women business loans from Rs 5 lakh to Rs 75 lakh without any collateral.

 

Features: –

  • Loan Amount – In order to meet the needs of aspiring women entrepreneurs, Tata Capital offers a wide variety of personalized loans ranging from Rs. 5 Lakhs to Rs. 75 Lakhs.

 

  • Loan Tenure – Anything from 12 months to 3 years

 

  • Rates of interest – Starting at 19%

 

  • Multiple Product Offering – Offerings tailored to fit the specific requirements of women entrepreneurs of all kinds

 

  • No Collateral Needed – Easy to obtain without any collateral

 

  • Personalized EMI Plans – Flexible repayment plans based on the customer’s budget

 

Advantages:

Women can benefit from business loans in the following ways:

 

Business Growth – Loans for women entrepreneurs from Tata capital help ambitious women entrepreneurs expand their growing businesses.

 

Supports Typical Entrepreneurial Needs – Through this solution, businesswomen gain access to working capital that can be used to cover unexpected expenses.

 

No Collateral Obligations – These are typically easy to obtain unsecured loans

 

Documents Required for Business Loan for Women

 

For a business loan with Tata Capital, you need to submit the following documents along with your duly completed loan application form –

  • Photo Identity Proof – Copy of Voter ID/Passport/DL/Aadhaar Card

 

  • Printed copies of your last six months’ bank statements

 

  • Documents that prove your business – Be sure to include your P&L statement and balance sheet from the last two years along with your business license, sales tax receipts, partnership deed, or ITR.

 

Furthermore, you will need to draft and present a report on your business plan.

 

Machinery loan



 

Whatever the size of your business, you need quality equipment and machinery in order to be successful. Not only do they save labour costs, but they also maximize profits during peak seasons by keeping up with demand. In case businesses lack the working capital to purchase technological aids, a machinery loan can be a great asset.

 

What is a Machine Loan?

 

Some financial institutions offer this solution to businesses to help finance the purchase of new machinery. A technology that doesn’t perform well can create obstacles for your business. Investing in new tools or high-technology equipment can help your company grow. Financing these purchases has never been easier. These solutions can eliminate any impediments to your business caused by under-performing technology.

 

Features:

Among the features of Tata Capital’s machinery loans are:

Sum – Tata Capital’s equipment upgrade loans range from Rs. 5 lakhs to Rs. 75 lakhs, depending on the project’s complexity and size

 

Low-interest rates – Competitive interest rates, starting at 19%

 

variety of products- Provide businesses with flexibility and can be tailored to fit specific business needs

 

Collateral-Free – Tata Capital does not demand collateral for business loans for machinery

 

Flexible EMI Plans – Customers can select an EMI plan according to their budget

 

Advantages: –

The benefits of financing equipment with a machinery loan are as follows: –

 

Enhanced Production – With a machinery loan, you can upgrade to cutting-edge technology for greater productivity. In addition, you can fulfil your consumers’ requirements much faster.

 

Enhance product standard – With an upgrade to modern advanced equipment, your products will be of premium quality, enhancing your company’s credibility in the marketplace.

 

Timely delivery of products – Through this financing, you can enhance the efficiency of your production process ultimately leading to timely delivery of your products. Meeting production targets and improving business relationships is easier when your turnaround time is shorter.

 

Profitability – Higher productivity will increase sales. In addition, productivity increases will lead to lower costs per unit, further increasing your profits.

 

Documents Required for Machinery Loan

 

Tata Capital requires the following documentation along with a duly completed machinery loan application for approval –

 

  • Photo Identity Proof – Copy of Voter ID/Passport/DL/Aadhaar Card

 

  • Printed copies of your last six months’ bank statements

 

  • Documents that prove your business – Be sure to include your P&L statement and balance sheet from the last two years along with your business license, sales tax receipts, partnership deed, or ITR.

 

Furthermore, you will need to draft and present a report on your business plan.

 

MSME & SME loans

 

The Indian economy relies heavily on small and medium-sized businesses. According to the statistics, close to 65% of the country’s population is concentrated in the countryside, where there are many small businesses. Additionally, small businesses in India are the second-largest employers after agriculture.

 

MSME/SME Loans: What are they?

 

MSME/SME loans are business loans designed to provide small and medium-sized business enterprises access to financing. SME/MSME loans are available for working capital or long-term business needs.

 

Features

Amount of Loan – SMEs can choose between loans of Rs. 5 lakhs to Rs. 75 lakhs, based on their funding needs.

 

Tenure of the loan – These loans can range from 12 months to 36 months in duration.

 

Interest Rates – Competitive interest rates range from 19%

 

Various products – The loans for MSME and SME can be customized to meet each business’ individual needs.

 

No Collateral Obligations- Tata Capital doesn’t require collateral for MSME/SME loans

 

Flexible EMIs – With flexible EMI options, businesses can structure their monthly repayments according to their financing needs.

 

Advantages:

Tata capital offers MSME/SME loans with the following benefits:

 

Working Capital – By acting as working capital, this solution helps organizations manage their cash flow.

 

Building infrastructure – Today’s businesses need robust infrastructure for the smooth distribution of products and services. This loan can assist with this process.

 

Recruit competent employees – Excellent staff can increase sales turnover and client satisfaction. Using this loan, you can hire talented employees for managing and growing your business.

 

Expansion strategies – A growing business requires both technology and human resources. Both require sufficient financing. This loan will provide working capital for expansion.

 

Documents Required for an MSME/SME Loan

 

Tata Capital requires the following documentation to accompany the MSME/SME business loan application:

 

  • Photo Identity Proof – Copy of Voter ID/Passport/DL/Aadhaar Card

 

  • Printed copies of your last six months’ bank statements

 

  • Documents that prove your business – Be sure to include your P&L statement and balance sheet from the last two years along with your business license, sales tax receipts, partnership deed, or ITR.

 

Furthermore, you will need to draft and present a report on your business plan.

 

To know more details on SME loans from Tata Capital . You can email contact@startupyo.com or call at  +918886666821.




Faq's

  • There is no need for collateral
  • The loans are customizable to meet specific business requirements.
  • Offers structured EMI option.
  • Higher loan amounts can be availed.
  • Loans can be repaid through Electronic Clearing Service (ECS) or an auto-debit facility.
  • The interest rates are affordable and competitive.
  • Documentation requirements are minimal.

Tata Capital offers business loans in 3 ways. Online applications can be completed and documents uploaded at Tata Capital’s website. As an alternative, you can submit a business loan application at your local Tata Capital branch. Additionally, you can contact Tata Capital’s customer care line at 1800-209-6060.

Tata Capital’s business loans have fixed interest rates, which means the EMI won’t change throughout the duration of the loan.

In most cases, it takes at least 12 months and a maximum of 36 months to repay the loan.

To access your Tata Capital Business Loan statement, visit their website:

  • Log in with your valid mobile number or email address
  • Select Get OTP or Log in using User ID
  • Once you have logged in – the statement is available for download

Business credit is available to entities like partnership firms, individuals, limited liability companies, as well as medical facilities and diagnostic centres. Those who are independently employed non-professionals or independent contractors also have the eligibility for business loans.

Depending on your business returns and eligibility, you may qualify for a minimum and maximum amount of loans. Business loans from Tata Capital are available up to Rs 75 lakhs. A minimum loan application amount is Rs 5 lakhs.

Taxes are not imposed on the interest earned on business loans. Business expenses, such as interest, cannot be reported as revenue. Additionally, being an MSME can qualify you for tax advantages on excise and other duties. The principal amount has no tax implications.

MSME/SME loans can be applied for in several ways –

  • Online – Through the lender’s website, you can apply for an MSME/SME loan quickly and easily
  • Phone – Contact the customer service department of your lender
  • Email – Contact the lender’s customer support department if you would like to apply for an MSME/SME loan
  • Virtual Assistant – Access a 24×7 virtual assistant from your lender
  • Offline – Visit a branch of your lender and speak with their lending experts

In addition to rate of interest, Fees and charges associated with applying for a MSME/SME loan include:

 

  • You will be charged a processing fee for your business loan application
  • If your business loan is repaid early, you will be charged foreclosure charges
  • Processing fees for documents