Why Opting for a Tata Capital Home Loan is a Wise Decision?

Home is the most basic necessity in a human’s life and in our country, a lot of people have not the privilege of owning their home. You ask why? Because of the hefty prices these homes have. Not all of us possess a large chunk of money at our disposal by which we can buy a home. To solve this problem, several banks and financial institutions of India provide the home loan facility to the people so that they can buy their own homes. Tata Capital is one such prominent financial institution that has a wide array of banking products and it has been functioning in more than 140 cities across India.

Tata Capital Home Loan is one of the preferable banking products among customers who are looking to opt for the loan facility to achieve their dream of owning a home. Available at an affordable rate of interest and with flexible repayment options, this home loan option is the perfect one for the customers. If you’re tired of living in a rented place and want to move to your own home, then this is a certainly wise option for you. In this article, we will be introducing you to the features and benefits of the Tata Capital home loan

What are the highlights of Tata Capital Home Loan?

You can have a look at some of the interesting features of this home loan facility mentioned below.

Loan Amount – With the home loan facility from the Tata Capital, you don’t have to worry about the amount that you gonna need for your home. You can get a loan amount as minimum of INR 2,00,000 to a maximum of INR 5 crores in a hassle-free manner. Also, your loan amount will be dependent on your repayment capability and other factors. 

Tata Capital Home Loan Interest – This is the most important thing to look for while opting for any kind of home loan facility as it can have a great impact on your EMI amount. The interest rate in the Tata Capital starts from 9.25% onwards which is pretty affordable considering the current financial market. One thing you need to remember that your interest rate depends on several variables such as your age, employment nature, employment stability, current liabilities, and most importantly, your CIBIL score. If your CIBIL score is good (700 or above), chances of getting you a lower rate of interest are quite high.

Tenure Period – You can take the loan amount for a time period ranging to a minimum of 5 years to a maximum of 30 years according to your repayment capability. If you opt for a higher tenure, you will have to more interest during that period so it is advised to choose a repayment period considering all the factors. 

Wide Range of Home Loans – Through this loan facility, you can not only take the loan amount for buying a property but also for various purposes like land purchase, home renovation, home extension, balance transfer, etc. So the options are endless!

Check your eligibility with the Home Loan Eligibility Calculator –  Before finalizing the loan amount, you can easily check your eligibility in seconds with the help of the eligibility calculator by filling out a few basic details like loan amount and the repayment period. 

What is the Application Process to apply for a Tata Capital Home Loan?

In order to apply for a home loan from Tata Capital, there are a few basic steps that you need to follow. These steps are filling out the online application and submission of documents. After completing these steps, the bank will verify the documents, inspect the property for which you’re taking the loan amount, and if all went right, your loan amount will be in your bank account within a few days.