Tata Capital Consumer Vehicle Loan:- If you want to buy your vehicle then Tata Capital is the best option for you. Tata Capital Finance offers Used Car Loan and Two Wheeler Loan to its customers under the category of vehicle loans. In this blog you will get all the information about Tata Capital Consumer Vehicle Loan Kaise Le.
It is obvious that everyone needs a personal vehicle for smooth transportation. Many people suffer a lot due to lack of money but now you need to suffer more.
What is Tata Capital Consumer Vehicle Loan?
Tata Capital Consumer Finance Service offers loan to buy a vehicle to make your transportation easy. You can avail a vehicle loan here on easy terms and conditions. You only need a few documents to avail a vehicle loan.
You can repay the loan in monthly installments. To avoid any kind of hassle in future, you can see the monthly installment through Tata Capital EMI Calculator. So, choose your vehicle and make your dream come true through Tata Capital.
What are the types of Tata Capital Consumer Vehicle Loan?
Following are the types of loans offered by Tata Capital:
1) Used Car Loan
Tata Capital offers loans to buy a used car up to Rs.50 lakh. The finance service covers 95% of the cost of the car. In addition, the financial services provide the flexibility to repay the loan through flexible EMIs.
Tata Capital Used Car Loan Eligibility
Here is the eligibility criteria for salaried and self-employed individuals:
The minimum age will be 21 years and the maximum age will be 65 years.
Income of salaried applicant Rs. 20000 per month and in case of salaried person the annual income should be 2 lakhs.
Salaried person should have one year experience. Self-employed person should be involved in the same business for at least three years.
Documents Required for Tata Capital Used Car Loan
You need to submit the following documents before applying for the loan:
Photo identity proof like Voter ID/Passport/PAN Card/Driving License/Aadhaar Card.
Salary slips of the last three months.
Income proof like photo copy of last three months bank statement, copy of income tax, balance sheet, copy of profit and loss statement.
Address Verification Documents like Ration Card, Electricity Bill, Passport, Aadhaar Card.
Copy of Vehicle Registration Certificate.
Copy of telephone or mobile bill.
Copy of signature with proof.
Tata Capital Used Car Loan Interest Rates
The interest rate on a used car loan depends on several factors such as cost of funds, customer, geography, asset and discounts offered in the market. Tata Capital offers the most attractive interest rates on Used Car Loans.
Tata Capital’s interest rate starts from 15%. Hence, Tata Capital offers its customers a transparent and fair deal at the most competitive interest rates. In such a situation, choosing this platform will prove beneficial for you.
2) Two Wheeler Loan
Under this category of loan, you can buy a new motorcycle or scooter. You can repay the loan through easy EMIs. The financial service covers the amount from 80% to 100% but you will have to make a down payment for the remaining amount.
You can apply for a variety of Two Wheeler loans from Commuter, Bike to Premium Motorcycle without any hassle with Tata Capital. Hence, make your commute easy and comfortable with Two Wheeler Loans.
Tata Capital Two Wheeler Loan Eligibility
Here is the eligibility criteria for salaried and self-employed individuals:
The minimum age of the applicant will be 21 years, the maximum age will be 60 years.
One year’s resident stability is a must.
Stable employment status for at least one year is also required.
The minimum loan tenure will be 6 months and the maximum loan tenure will be 60 months.
Factors Affecting Two Wheeler Loan Eligibility
Here are some of the factors that affect two wheeler loan eligibility:
CIBIL Score:- Applicants who have CIBIL score above 750 are highly eligible for Two Wheeler Loan as compared to an applicant with CIBIL score below 750.
Income:- An applicant with a high income can easily get the loan so income is the prime factor to decide the eligibility of the applicant for the two wheeler loan.
Previous Loans:- If you are paying your outstanding loan on time or do not have any existing loan then you are highly eligible to get two wheeler loan.
Documents Required for Tata Capital Two Wheeler Loan
You need to submit the following documents before applying for the loan:
Any identity proof like Passport/Driving License/PAN Card/Aadhaar Card/Voter ID.
Recent passport size photographs.
If required, you will have to submit income proof such as salary slip along with Form 16, an income certificate, bank details, income tax return details, etc.
Bank Statement is mandatory.
Tata Capital Two Wheeler Loan Interest Rates
The interest rate on two-wheeler loan will start from 10.75%. This is the cheapest rate of interest so you can apply for the loan here. And you can get your dream two wheeler sitting at home. The interest rate also depends on your credit score.
If you have a good credit score, you can get a loan at a lower interest rate. And if you have a bad credit score, you will have to pay a higher interest rate. The rate of interest also depends on your income level, place of work and nature of employment.
How to apply for Tata Capital Vehicle Loan? (How To Apply)
To apply for a vehicle loan, you need to follow the following steps:
First of all, you have to go to the home page of Tata Capital’s website.
Now click on Consumer Option.
As soon as you click you will get two options, first is Used Car Loan and second is Two Wheeler Loan.
You will see the option to apply now.
Before applying for the loan, you can read all the necessary information regarding the loan type that you wish to avail.
Click on the “Apply now” option.
As soon as you click you will get an application form.
After filling all the details click on the blue colored Apply Button.
Now a Tata Capital employee will get in touch with you to proceed with the loan application.
What is Used Car Loan EMI Calculator?
The Used Cars Loan EMI calculator helps you calculate the EMI amount that you need to pay over the entire loan tenure. There are three main details you need to fill in for the calculation – principal loan amount, interest rate and loan tenure.
And as soon as you enter the details, you will get your EMI within seconds. The calculator is user friendly and you can use it easily. The calculation helps you create a financial plan to repay the loan.
You can decide the loan tenure according to your capacity as per the EMI. Knowing the EMI in advance helps you a lot in avoiding any complications in future. Hence, before applying for the loan you must calculate the EMI and then apply for a suitable loan amount and loan tenure as per the repayment capacity.
conclusion
I have given you all the information about how to take Tata Capital Consumer Vehicle Loan in this article. Applying for a loan from Tata Capital is a good option as you get the most competitive interest rates here. If you have liked the article or have any doubt, then you can comment in the Comment Box.
FAQ’s: Tata Capital Consumer Vehicle Loan
Read answers to the most frequently asked questions to know more about two-wheeler or used car loans:-
Q. How can I get a lower rate of interest on the purchase of two wheelers?
A. You need to improve your credit score and current loan status.
Q. What is the processing fee on Used Car Loan?
A. The processing fee will be 1.75% of the loan amount.
Q. Is there any loan cancellation charge at Tata Capital?
A. Yes, you will have to pay Rs.6500 as loan cancellation charges.
Disclaimer:- This blog has been posted to provide you general information on how to avail Tata Capital Consumer Vehicle Loan. For more information you can visit the bank or you can visit the official website of the bank. We will not be responsible for any of your actions and deeds.
