Tata Capital

About Us


Purpose

At the Tata group we are committed to improving the quality of life of the communities we serve. We do this by striving for leadership and global competitiveness in the business sectors in which we operate.
Our practice of returning to society what we earn evokes trust among consumers, employees, shareholders and the community. We are committed to protecting this heritage of leadership with trust through the manner in which we conduct our business.
Asking the right questions is the key to making informed decisions. And we, at Tata Capital, strive towards answering all your questions about the world of Home Loans. Because we believe it’s our duty, and it’s your right to know.
Ask for a comprehensive list of all the documents required for a home loan.
Ask for a home loan that is customized to your requirements.
Ask for correct methods to increase your eligibility criteria, if required.
Ask about the various repayment options and advice on the right one for you.
Ask about the base rate to which your interest payments would be linked.
Ask for information about all the costs you can incur in relation to your loan.
Ask about the various tax benefits provided by home loans.
Ask what happens if you wish to prepay your loan.
Ask why Home Insurance is essential.
For-any-additional-queries-fee-free-towrite
to us at perfectsolution.helpdesk@gmail.com

Core values

Tata has always been values-driven. These values continue to direct the growth and business of Tata companies. The five core Tata values underpinning the way we do business are:
Integrity: We must conduct our business fairly, with honesty and transparency. Everything we do must stand the test of public scrutiny.
Understanding: We must be caring, show respect, compassion and humanity for our colleagues and customers around the world, and always work for the benefit of the communities we serve.
Excellence: We must constantly strive to achieve the highest possible standards in our day-to-day work and in the quality of the goods and services we provide.
Unity: We must work cohesively with our colleagues across the group and with our customers and partners around the world, building strong relationships based on tolerance, understanding and mutual cooperation.
Responsibility: We must continue to be responsible, sensitive to the countries, communities and environments in which we work, always ensuring that what comes from the people goes back to the people many times over.

At Tata Capital, we believe a home is so much more than four walls and a roof. It is your refuge from the world. A place where the outside world is just that, outside. It is a place where you can let go and truly be yourself. And it is our endeavor to bring you closer to owning your dream home, the place where you can truly express yourself.
However, we also realize that for most people, buying their dream homecan be a long and complicated process. This is why it is our aim tosimplify this process and give you all the information you require to make your home-buying process completely hassle-free. This notebook contains important points you should keep in mind while deciding to purchase a house, so that your home purchase is a landmark you can look back upon with satisfaction and pride.
Should you require any further assistance, our representatives would be happy to help you in realizing your dream home by determining the home loan

Identify your requirements
Purchasing property is among the biggest INVESTMENTS an individual can make, and hence it is important that your focus remains on homes that satisfy all your requirements. When searching for your ‘dream home’, you should consider the following important factors that can have an impact on your home purchase decision:
• Locality
• Proximity to amenities like transport, schools, hospitals, market, business district, entertainment centres, HOTELS , restaurants, etc.
• Area of the flat i.e. Carpet Area, Built Up Area and Super Built Up Area
• Price of the flat and price prevailing in the locality.
• Potential for future increase in price
• Facilities like car parking
• Quality of Construction
• Reputation of the builder or seller

Right of home loan
How much are you eligible for?The amount of home loan you are eligible for depends on factors like your occupational profile (whether you are salaried/ self-employed), your income, your obligations, the interest rate charged by the Lender and the tenure of the loan. To determine your loan eligibility, the lender examines your complete FINANCIAL profile including your income, obligations, savings, INVESTMENTS and credit history.

Types of Home LoansThese days, Banks/ Housing Finance Companies OFFER you a variety of options for your home loans. While there is the standard home loan for basic home purchase, you also have options like home construction loan, home improvement loan, home extension loan etc. to meet your varied requirements.

Making the down paymentHome Loan Providers typically insist on an amount between 20-25 percent of the total property cost to be paid upfront. If you can afford it, it is advisable to try and increase your down payment beyond this range. To arrange for this, your first option could be monetizing any liquid assets you may have like fixed deposits or other short-term INVESTMENTS , and other savings in assets like GOLD . Alternately, you can also look at taking loans against these savings. Aside from these, you could look at taking salary advances from your workplace, borrowing fromfamily/friends and loans against your insurance policy as options.

Cost of a Home LoanYour home loan would be repaid by way of Equated Monthly Installments, or EMIs which is a combination of two components – principal repayment and interest payment. With respect to your interest payments, you have the option of choosing between fixed and floating rates of interest. A critical factor of a home loan process is determining a suitable method of EMI repayment. There are various repayment options available in the MARKET today, and you can choose the mode that is customized to your requirements.

Apart from your EMIs, you would also have to DEAL with other costs like processing fees, legal and technical charges, foreclosure charges, etc.

About Tata Capital Housing Finance Limited

Tata Capital Housing Finance Limited(TCHFL) is a wholly owned subsidiary of Tata Capital Limited and is registered with the National Housing Bank as a Housing Finance Company, offering long-term funds for housing purposes. TCHFL’s wide product range includes loans for purchase and construction of a residential unit, purchase of land, home improvement loans, home extension loans, project finance loans to developers etc.

Tata Capital Limited is a subsidiary of Tata Sons Limited. The Company is registered with the Reserve Bank of India as a Systemically Important Non Deposit Accepting Core Investment Company and offers through itself and its subsidiaries fund and fee-based financial services to its customers.
As a trusted, customer-centric and one-stop financial services provider, Tata Capital, through itself and its subsidiaries, caters to the diverse needs of retail, corporate and institutional customers across various areas of business - commercial finance, investment banking, private equity, infrastructure finance, securities, wealth management, consumer loans, loan against property, cards and travel-related services.

The Tata Capital group has a wide network of over 100 branches, covering more than 70 locations in India.
The essence of brand Tata Capital is encapsulated in its brand proposition – ‘We only do what’s right for you.’ The proposition reflects a strong resolve to deliver financial solutions that are ‘Right’ for customers and society at large.

Tata Capital seeks to build strong relationships with its customers, and deliver a superior and consistent customer experience across all products and touch-points.

For further details, please visit at www.tatacapital.com

Tata Capital, through itself and its subsidiaries, caters to the diverse needs of retail, corporate and institutional customers across various areas of business - commercial finance, investment banking, private equity, infrastructure finance, securities, wealth management, consumer loans, loan against property, cards and travel-related services.

FAQ's

1. How do I apply for a Home Loan?
You can approach/reach us by any of the following ways:
Download Application forms from our website www.tatacapital.com
Apply onlineby writing to contactus@tatacapital.com
SMS ‘HOME’ to 56161561
Call us at our customer care number 1800-209-6060
Visit any of our branches spread over various locations

2. What are the documents that I need to submit when I apply for the Home loan?
You need to submit any one of the documents in each of the following categories:
Age proof documents - Passport, Driving License, Life Insurance Policy, Birth certificate, Pan Card, school leaving certificate.
Identity Proof Documents - ID proof in the form of Passport, Driving license, PAN, voters ID card.
Residence address proof - Residence proof required in form of Utility Bill, Bank statements, Property registration documents, Property tax receipt, Voter id.
Office Address proof - Employee ID card/Appointment letter/Letter from employer on the letterhead.
Income Proof: For Salaried - Last three months’ salary slip and Appointment letter/ yearly increment letter and certified true copy of Form 16 ; / For self employed: last 2 years IT return with supportive documents , business profile on letter head , Registration certificate for business commencement
Income proof of NRI - latest last six months payslips along with employment stability documents such as appointment letter / previous employment history
Bank Statements - For salaried : Bank statement for the last 6 months from the salary a/c .
For self employed: operative current account statement for 6 months, also, if any, CC / OD facilities taken corresponding bank statements for 6 months to be submitted for NRI applicants overseas salary account for 6 months and Indian NRE/ NRO account statements for 6 months to be provided.
Credit Report for NRI – NRI applicants have to sumbit Credit Report of their current country of residence where ever it is applicable as per TCHFL norms
Details of Existing loan - Existing loan details should be provided through bank statements.
Processing Fee cheque - To be issued from the salary account.

3. What is the maximum loan amounts that can be availed?
Rs. 10 Crores is the maximum loan amount that can be applied for.

4. Who can be the Co-applicants for the Home Loan?
You can include your spouse/parents/children/ siblings as a co-applicant for the Home Loan

5. Why should I take a loan from Tata Capital Housing Finance Limited (“TCHFL”)?
Maximum loan -
75% & 80% % of the cost of the property (including the cost of the land) subject to valuation as per the regulations and based on the repayment capacity of the customer.

Maximum Term -
20 years subject to your retirement age.
Applicant and Co- Applicant to the loan -
Proposed owners of the property will have to be co-applicants. However, the all co-applicant need not be co owners.

Other Features:
Excellent property advisory team
Wide range of options designed to meet your specific needs
Transparent terms and conditions
Competitive interest rates
Door step service

6. What is the amount of application / processing fees that I have to pay?
0.50% plus service tax* out of which Rs.5,000/- plus service tax payable initially at the time of application and the balance processing fee collected on sanctioning of the loan. The initial processing fee paid is non refundable and subsequent to disbursement, the balance processing fees is also non refundable

7. Will Tata Capital Housing Finance Limited (“TCHFL”) refund my application fee?
This is a non refundable payment.

8. How long does it take to get a sanction for the Home Loan?
It takes approximately 7 Days to sanction the Home Loan, after receipt of complete documents

9. What are my options for repayment?
Post Dated Cheques (PDCs)or Electronic Clearing Service (ECS), or RTGS or deduction from salary for TATA Group Employees are the modes for making repayments

10. Can we avail a Fixed Rate Home Loan instead of Floating Rate?
Currently we don’t have a Fixed Rate product.

11. If the property is under construction, and I have not taken full disbursal, what options do I have regarding payment of EMI?
You have the option of paying either the Pre EMI (interest on the amount of loan disbursed thus far) for a maximum of 2 years or full EMI during this period or alternatively you may also opt for EMI for the disbursed loan quantum.

12. How is the interest on my loan calculated?
Tata Capital offers competitive floating interest rates linked to the Prime Lending Rate. The interest is calculated on the monthly reducing balance at the prevailing rate of interest on your loan.

13. Having taken a home loan, can I take a top-up loan without offering any additional security ?
Yes, once you have completed repayments on your existing loan for more than 12months, we offer you an additional top-up loan on your existing Home Loan Subject to terms and condition of TCHFLThe final sanction of such loan is at the sole discretion of Tata Capital Housing Finance Limited.

14. Can I make part prepayments on my home loan account?
No Pre-payment charges on Floating Rate term loans sanctioned to individual borrowers.
Fixed Rate term loans:
i) No penalty is charged on partial prepayment up to a maximum of 25% of principal outstanding in a year
ii) Part Prepayment of more than 25% of principal outstanding will attract a 2% prepayment charges.

15. What are the charges on foreclosure of the loan?
No foreclosure charges are applicable:
i) Where the term loan is floating interest rate basis and sanctioned to individual borrowers, and
ii) Where the housing loan is on fixed interest rate basis and pre-closed out of the customers own sources.
Where housing loan is on fixed interest rate basis and pre-closed other than own sources, 2% plus taxes will be charged on the principal outstanding and all part payments, if any, made within immediate preceding 12 months of such foreclosure.

16. How is Home Loan eligibility determined?
We assess the applicants repayment capacity based on their income and existing repayment history and market value of the property as per valuation while deciding on the loan eligibility.

17. What is the maximum period allowed for repayment of Home Loan?
Maximum of 20 Years, Subject to retirment age of the borrower or 65 years in the case of self employed.

18. After how many days of sanction, the loan is disbursed and what is the procedure of disbursement for outright purchase of house and for construction of house?
Loan is disbursed in full for outright purchase of ready built property as soon as the customer completes all formalities and fulfils the sanction conditions. For under construction project, the disbursements are in installments based on the construction stage / level.

19. What extra benefits are available to a Home Loan borrower?
income tax benefits and Insurance benefits (if opted for).

20. What is the arrangement of Life Insurance facility to secure my Home loan?
Provide your family the benefit of an insurance policy from Tata AIG Life Insurance Company a unique level term insurance cover that pays an amount equal to your initial loan amount in the event ofany eventuality . This insurance plan that covers your life to the extent of the outstanding loan amount, against a single one time premium. This insurance policy is underwritten by Tata AIG Life Insurance Company and it is at sole discretion of TATA AIG Life Insurance Company Limide

21. Why is Rate of Interest higher in Loan Against Property as compare to Home Loans?
Home Loans are meant for the special purpose of providing housing facility to individuals at affordable costs. Whereas in case of Loan Against Property, funds are raised for business/ personal purpose generally targeted at business expansion/ infusion of working capital in the current business or to meet personal requirements.

22. Why has my Home Loan’s Rate of Interest (ROI) increased?
The Increase in Rate of Interest is due to the recent hike in Tata Capital Home Finance Limited Prime Lending Rates (PLR). The PLR is changing because there is a change in the cost of borrowing of the company based on the prevailing market conditions as judged by TCHFL from time to time.

23. What is the process of reducing my loan tenor in case of any Rate Hike ?
You could reduce your loan tenure by choosing from any of the following:
a) Increasing your EMI
b) Making a part pre-payment of your loan or
c) A combination of these two options. To reduce your loan tenure, please visit the nearest loan servicing branch.
After the change in EMI you are requested to submit New ECS mandate / Post Dated Cheques (PDCs) with the updated EMI.

24. I want to foreclose my contract, what will be the Foreclosure charges ?
No foreclosure charges
i) if loan is availed on floating interest rate basis and
ii) if the loan is availed on fixed interest rate basis and pre-closed by the customer out of his own sources ; or else 2 % on the Outstanding Loan Amount + Service Tax. Please refer to the details in the schedule of service charges

25. I want copies of my loan Agreement?
Request you to place a request by marking a mail to
customercare@tatacapital.com or call 1800 - 2096 – 060 or you can contact our
Customer Relation Executive at the nearest branch.

Frequently Asked Questions on Loan Against Property (LAP)

1. What are the products offered under Loan Against Property (LAP)?
(i)Acquisition-of-commercial-premises
(ii) Loan against-Rent-receivables
(iii)Loan-against Commercial-property
(iv) Loan against Residential Property

2. What are the charges applicable on Loan Against Property product?
Application fees, Processing Fees, Legal fees, Stamp duty for mortgage, registration charges for registered mortgage if applicable, etc.

3. How is the basic loan eligibility calculated?
Your loan eligibility will be decided based on your repayment capacity. Repayment capacity takes into consideration factors such as income, age, qualifications, spouse’s income, property value, Existing obligations if any...

4. Can I take my Brother/Son/ Daughter/ Father as co-applicant?
You can include your spouse/parents/children/ siblings as a co-applicant for the Loan and we shall include his / her income to enhance your loan eligibility.

5. What are the modes of repayments and how many Post Date Cheques (PDCs) to be taken for disbursement?
Repayment of loan will be made through Post Dated Cheques (PDCs) or Electronic Clearing Services (ECS). The PDCs will be collected on the basis of the number of installments in your repayment schedule.

6. What are the pre and post disbursal documents for Balance Transfer case?
Pre disbursal documents -
1.Outstanding principal statement - Must be on the letterhead of existing Home Finance Company (HFC)/ Bank and must contain
Date
Applicant and/or co applicant names
Loan account number
Outstanding principal amount
Pre payment charges (if any) amount
Any other dues (if any) amount
2. Property documents - Prior to sanction, customer needs to submit a declaration –cum- undertaking to Tata Capital Housing Finance Limited (TCHFL) with respect to the legal documents submitted to the HFC/ Bank interalia undertaking to deposit the original documents.
Prior to Disbursal- A list of documents from the HFC/ Bank & photocopies of documents kept with existing HFC/Bank.
3. Irrevocable Power of Attorney (POA) - Required from the customer in favor of TCHFL. The POA has to be executed on stamp paper of the requisite value and should be duly notarized from a Notary Public.
Post disbursal documents –
1. Receipt for disbursal from TCHFL- The receipt issued by earlier HFC/Bank to be obtained.
2.Loan clearance from HFC/ Bank- A mortgage release letter to be obtained by the customer from the HFC/ Bank, stating no dues and release of mortgage on the property.
3.Property documents- Original title deeds to be deposited by the customer with TCHFL as per the list provided by HFC /Bank.
4. Release of Registered Mortgage / Memorandum of Entry (MOE) /Registrar of Companies (ROC) charge wherever applicable- In cases where the previous HFC / Bank has created a registered mortgage / MOE /ROC charge on the property, the said charge would required to be cleared thru necessary documentation.

7. What documents can be submitted for Know Your Customer (KYC)?
Any one of the documents from each of the following categories to be submitted for KYC:
Age proof documents- Passport, Driving License, Life Insurance Policy, Birth certificate, PAN Card, school leaving certificate.
Identity Proof Documents- ID proof in the form of Passport, Driving license, PAN, voters ID.
Residence address proof- Residence proof required in form of Utility Bill, , Bank statements, Property registration documents, Property tax receipt, Voter id.
Office Address proof- Employee ID card/Appointment letter/Letter from employer on the letter head.
Income Proof: For Salaried- Last three months’ salary slip and Appointment letter/ yearly increment letter. If salaried, then certified true copy of the Form 16 is a mandatory requirement; for self employed: last 2 years IT return with supportive documents, business profile on letter head, Registration certificate for business commencement.
Bank Statements - For Salaried: Bank statement required for the last 6 months from the Salary account. For self employed: operative current account statement for 6 months, also, if any, CC / OD facilities taken corresponding bank statements for 6 months to be submitted.

8. When is the change in the Rate of Interest communicated to customer
As soon as the company changes the applicable Rate of Interest, notifies the same on its website and thereafter in due course of time intimated to the customer.

9. What is meant by EMI?
Equated Monthly Installment (EMI) is a fixed amount which a customer repays on a monthly basis EMI covers both the interest and the principal amount.

10. What is an amortization schedule?
An amortization schedule is a table giving the reduction of your loan amount by monthly installments. The amortization schedule gives the break-up of every EMI towards repayment of interest and outstanding principal of your loan.

11. Who can be taken as a Co-Applicant?
You can include your spouse/ parents / children / siblings as a Co-Applicant for the Loan. His / her income can be added to enhance the loan amount. However all Co-owners of the property should necessarily be the co-applicant.

12. Which types of income and how much is included in loan eligibility calculation
We interalia consider the following:
Business Income: Profit after tax as reflected in the Income tax returns and Profit and Loss statement.
Depreciation: 2/3rd of the depreciation as claimed in the P&L can be considered for income purpose.
Agricultural income: Agricultural income should reflect in the Income tax returns for at least 2 years.
Salary: Income as reflected in Net Salary reflected in the salary slips.
Rental Income: Rental Income can be considered if it reflects in Income tax returns / Bank statement/Rental agreements.
Interest Add back: In case of buy over of a housing loan from another institution then the interest paid to the bank in that financial year can be added back if it reflects as an expense in the P&L.
Other Income: Interest income, dividend income, income from investment and income from part time business like tuitions etc can be added if reflected consistently in the Income tax returns for at least two years.

13 . What are the end uses of the loan which can be sanctioned?
Personal needs
Business needs
Renovation of property
Consolidation of debt
Mortgage buyout

14. I have only a few years to retire? Am I eligible for a Loan Against Property?
Yes, if the salary matches the loan requirement and the tenor will be equal to the number of years left for retirement

15. How can I enhance my loan eligibility?
You can enhance your eligibility by foreclosing your existing loan obligations and/or adding the income of earning applicants to the loan.

16. What if the EMI cheque bounces?
Please refer to the schedule of Service charges for the details.

17. How do I replenish the exhausted PDCs or Swap ECS?
You may replenish the exhausted PDCs by handing over the cheques at our Branch.

18. What are the cheque bounce charges?
Please refer to the schedule of Service charges for the details.

19. What are overdue charges and how are they calculated?
Overdue charges are levied on unpaid EMI, Please refer to the schedule of Service charges for complete details.

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