TATA Capital offers personal loans to salaried individuals with flexible eligibility criteria. Below is a simplified breakdown of the loan parameters to help you understand the requirements and benefits.
1. Target Customers
- All salaried individuals (government, private, PSUs, etc.)
- Contractual/consultant professionals with a net income of ₹50,000+
2. Loan Eligibility Criteria
A. Age & Employment Stability
| Parameter | Requirement |
|---|---|
| Minimum Age | 21 years |
| Maximum Age | 58 years (or retirement age, whichever is later, up to max 65 years) |
| Current Employment Stability | Min. 12 months |
| Total Employment Stability | Min. 24 months (waived if applicant is ≥26 years with 1-year stability) |
| Residence Stability | Min. 6 months in current residence |
B. Income & Loan Amount
| Category | Minimum Net Salary | Loan Amount Range | Max Tenure |
|---|---|---|---|
| Super Cat A & TGE | ₹15,000 | ₹75,000 – ₹35 Lakhs | 72 months |
| Cat A | ₹20,000 | ₹75,000 – ₹25 Lakhs | 72 months |
| Cat B | ₹25,000 | ₹75,000 – ₹25 Lakhs | 60 months |
| Cat C | ₹25,000 | ₹75,000 – ₹25 Lakhs | 60 months |
| Defence Personnel | ₹20,000 | ₹1 Lakh – ₹10 Lakhs | 72 months |
Bonus Consideration:
- Up to 70% of the average of the last 2 gross bonuses can be added to salary (max 15% of NMI).
3. Key Features
A. Loan Tenure Options
- Super Cat A & Cat A: Up to 84 months (7 years)
- Cat B (Income >₹75K): Up to 84 months
- Cat B (Income <₹75K): Up to 60 months
- Cat C & Unlisted Companies: Max 60 months
B. FOIR (Fixed Obligation to Income Ratio)
- Max FOIR: 50% (Total EMI ≤ 50% of salary)
- Max Unsecured FOIR: 40%
C. CIBIL Score Requirements
- Super Cat A, Cat A, Cat B: 725+
- Cat C & Unlisted Companies: 750+
D. Balance Transfer (BT) Rules
- Max 6 Balance Transfers (including credit card BT)
- Max 5 Credit Card BTs allowed (no late fees)
E. Additional Norms
- Credit Life Insurance is mandatory for loans >₹25 Lakhs.
- No more than 2 active personal loans at the time of application.
- No recent loans (last 3 months) except credit cards.
4. Special Cases
A. Defence Personnel
- Min. Loan: ₹1 Lakh
- Max. Loan: ₹10 Lakhs
- Tenure: Up to 72 months
- Service certificate from Commanding Officer is sufficient (no need for FI checks).
B. Contractual/Consultant Employees
- Net Salary: ₹50,000+
- 2-year employment stability required.
C. Work From Home (WFH) Cases
- Residence & office must be in TATA Capital’s serviceable locations.
- Bachelor customers need a local co-applicant if not staying at a permanent address.
D. Overdraft (OD) Facility
- Dropline OD: Limit reduces monthly.
- Fixed Line OD: Limit remains fixed for 12/24 months before reducing.
5. Exclusions (Not Eligible)
❌ Industries: Real Estate, EdTech, Diamond Traders
❌ Credit Profile: CIBIL-1, Rented Bachelor Accommodation, Gold Loan history
❌ Recent Loans: If taken in the last 3 months (excluding credit cards)
6. Documents Required
- Salary slips (last 3 months)
- Bank statements (last 6 months)
- Form 16 / EPFO records (for employment proof)
- Address proof (rental agreement/ownership documents)
Final Takeaways
✅ Flexible tenure (up to 7 years for eligible customers).
✅ Competitive interest rates based on profile.
✅ Quick processing with minimal documentation for pre-approved customers.
Need a TATA Capital Personal Loan? Check your eligibility and apply online for a hassle-free process!
