TATA Capital Education Loan 2023 –Hi everyone! Hope you are all doing well. Welcome back to another blog. So, guys are you looking for an opportunity that shares your burdensome educational expenses? If yes, then you are at the right platform, read the whole blog carefully and get all the details related to TATA Capital which provides a lot of schemes or programs to facilitate students to share their educational expenses. They provide the least interest rates, simple processing, and easy repayment facilities to students after the completion of their degree, even after getting the job. They also provide opportunities to students that are willing to study abroad, but due to high expenses, are not ready to come forward. So, take the education loan from TATA Capital, make your future bright, and lead your career.
Details of TATA Capital Education Loan 2023
|TATA Capital Education Loan
|Age group eligible
|Between 16 – 26
|₹75,000 – ₹30,00,000
|12 – 72 months
|Interest rates start at
|Branches across India
|1860 267 6060
Tata Capital Education Loan Eligibility
The students that are willing to apply for the TATA Capital Education Loan, must have to fulfill the following eligibility conditions, to become eligible to get the loan. Those conditions are;
- Applicant must be an Indian national.
- Applicant must be at the age of 16 years to 26 years
- Applicant must have a brilliant academic career
- Applicant must have a strong financial background
- Applicant must require a co-applicant with regular income
- Applicant must require a guarantor
Documents Required for Tata Capital Education Loan 2023
The students that are willing to apply for the TATA Capital Education Loan must have the required following documents along with the application form, to apply for education loan;
- Photo Identity Proof
- Marksheets, Transcripts & Certificates
- Admission Letter
- Income Proof
- Salary Slips
- Property Documents
- Other Essential Documents issued by the college or school
- Documents for Studying abroad
- Employment Details (If employed)
TATA Capital education loan provides you with enough loan amount to cover all your educational, and non-educational expenses easily. They provide loans on the basis of eligibility, and requirement of the student. They offer a minimum loan amount worth INR 15 lakhs, and a maximum amount worth INR 30 lakhs.
Tata Capital Education Loan Rates & Charges
The following overall charges are applicable on the personal loans:
- Processing Fee – The processing fee is a one-time payable fee by the applicants when they apply for a personal loan. It is a non-refundable fee even if you will not eligible for the loan. The processing fee is almost 2.75% of the loan amount + GST.
- Penal Interest/Additional Interest – Penal Interest is the rate of interest that will be applicable on late monthly installments. The debtor can now pay the late installment comprehensive of the additional interest. 3% on an unpaid amount per month + GST.
Now I will provide you with detail of the assorted charges under the Tata Capital Education Loan:
|INR 600 for every cheque + GST
|Mandate Rejection Service Charge
|450 + GST
|CCOD Annual Maintenance Charges
|0.25% on the dropline amount + GST or INR 1000, whichever is higher will be deducted from the limit and shall be paid in the 13th month
|Outstation Collection Charges
|INR 100 + GST per repayment tenure
|Statement of Accounts
|Soft Copy – NIL Branch Walk-in – INR 250 + GST
|Loan Cancellation Charges
|2% of the loan amount or INR 5,750 whichever is higher + GST
|Instrument Swap Charges
|INR 550 + GST
|Duplicate Repayment Schedule
|Soft Copy – NILBranch Walk.in – INR 550 + GST
|INR 550 + GST
|Post-Dated Cheque Charges
|INR 850 + GST
To apply for the TATA Capital education loan, follow the following given steps;
- Online application: Fill out the application form, and provide all the required details in the application form.
- Submit the documents: When you have confirmed your eligibility then, fill out the mandatory documents for the anticipated application.
- Verify the application: The application loan will be appropriately confirmed and then documents would be submitted.
- Approval: The loan’s authorization is approved
- Lastly, take the obligatory education loan from your bank account.
Estimate your Tata Capital Education Loan EMI
Now I will tell you the detail to calculate your EMI:
- Education Loan Amount
- Interest Rate (begins at 10.99%)
- Loan Tenure (12 – 72 months)
- Tick the calculate button. The system permits you to EMI monthly break-up of mutually the interest and principal compensation.
- If EMI is higher or lower than your suitability, change the principal amount and follow the same steps from 2 – 4.
EMI Methods for Tata Capital Education Loan
TATA Capital provides the following methods to repay the loan payment;
Standard EMI Plan
Standard EMI Plan is made for you to repay the principal amount and interest constantly for your distinct period.
- Tata Capital Education Loan EMI amount remains the same for the whole loan duration
- It is Standard Plan
- Ideal if you have a constant income
Step Up Flexi EMI Plan
Step Up Flexi EMI Plan provide flexibility. This repayment method is made for you to pay fewer EMIs at the start and as your salary surges, you pay more EMIs.
- Offers higher Education Loan eligibility
- Pay more when you can have enough money
- Supports accomplishing income flow proficiently
- Ideal if you assume your income to increase at regular intervals
Step Down Flexi EMI Plan
Step Down Flexi EMI Plan provides flexibility to pay more EMIs at the start and fewer EMIs at the end.
- Lessens interest significantly
- Offers higher Education Loan eligibility
- Ideal if you have a high one-use income
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