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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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Features
Pricing
Documents Required
Whether you're self-employed or running a business, Tata Capital Ltd. offers loans for both. They offer term loans, cash credit, overdrafts, letters of credit, equipment financing, lease rental discounting, loans against securities, and more.
Their business loan schemes include loans for women, MSMEs, machinery, working capital, structured products, construction finance, and equipment financing and leasing. This non-banking financial company (NBFC) offers business loans with few documents, quick approvals, and fast disbursals.
Tata Capital's new business loans can help you get money easily to meet your short-term and medium-term business needs. You can use the loan to buy new technology, open a new store, or manage your cash flow. Their business loans come with structured EMIs and long repayment terms.
Who can apply?
Self-employed people, sole proprietorships, partnerships, limited liability partnerships, private limited companies, closely held public limited companies, Hindu Undivided Families, trusts, and societies can apply for a business loan from Tata Capital.
Tata Capital ensures no hidden charges when you apply for a business loan and they will be clear about all fees, including processing fees, foreclosure charges, and EMI bounce charges, when you apply.
Fees and Charges:
Fee/Charge | Description | Amount |
---|---|---|
Processing Fee | Upfront fee for loan processing | Up to 4% of loan amount |
Penal Charges | For delayed payments | 3% per month on defaulted amount |
Cheque/Payment Instrument Dishonour | For bounced EMI payments | Rs. 600 per instance |
Mandate Rejection Service Charge | For failed EMI mandates | Rs. 450 |
CCOD Annual Maintenance Charges | For using credit card overdraft facility | 0.75% or Rs. 1000 in the first year, 0.50% or Rs. 1000 in subsequent years |
Document Processing Charges | For processing loan documents | Rs. 1999 |
Statement of Accounts | For obtaining a statement | Soft copy: Nil, Branch walk-in: Rs. 250 |
Part-Prepayment/Prepayment/Foreclosure Charges | For early repayment | Varies based on loan type and tenure |
Loan Cancellation Charges | For cancelling the loan | 2% of loan amount or Rs. 5750, whichever is higher |
Payment Instrument Swapping | For changing payment methods | Rs. 550 |
Duplicate Repayment Schedule | For obtaining a duplicate schedule | Soft copy: Nil, Branch walk-in: Rs. 550 |
Duplicate NOC | For obtaining a No Objection Certificate | Rs. 550 |
Foreclosure Letter Charge | For obtaining a foreclosure letter | Soft copy: Nil, Branch walk-in: Rs. 199 |
Post-Dated Cheque Charges | For issuing post-dated cheques | Rs. 850 |
Stamp Duty | As applicable by the government | Varies |
Outstation Collection Charges | For collecting payments from outside the city | Actuals |
NACH/PDC Charges | For using NACH or PDC payment methods | Rs. 850 |
Legal Charges | For legal proceedings | Actuals |
Broken Period Interest | Interest for the period from disbursement to the first EMI payment. | As applicable |
Note:
Document Type | Required Documents |
---|---|
KYC Documents | PAN Card, Aadhaar Card/Voter ID/Driving License/Passport |
Business Proof | Business Registration Certificate, Trade License, Establishment Certificate, GST Registration Certificate, Partnership Deed Agreement, or Sole Proprietorship Declaration |
Income Proof | Last 2 years' Income Tax Returns (ITRs) and Computation of Income, Last 2 years' Audited Financials with Tax Audit Report, Profit and Loss Statements, Balance Sheet |
Bank Statements | Current account bank statements and GST statements for the last 6 months |
Tata Capital simplifies the process of obtaining a business loan in India with a streamlined 5-step application process.
Step 1: Online Application
Begin your journey by filling out their user-friendly online application form. Simply provide the necessary details about your business and financial information.
Step 2: Document Submission
Once you've completed the application form, upload the required documents to the secure portal. These documents typically include proof of identity, address, income, and business ownership.
Step 3: Verification Process
Their dedicated team will carefully review your application and submitted documents to verify your eligibility and assess your business's financial health.
Step 4: Loan Approval
Upon successful verification, they will notify you of the loan approval decision. If approved, you'll receive a loan sanction letter outlining the terms and conditions.
Step 5: Disbursal of Funds
Once you accept the loan offer, they’ll promptly disburse the loan amount directly to your bank account. You can then utilise these funds to meet your business's specific needs, such as expansion, working capital, or equipment purchases.
Tata Capital offers the best business loans in India to help new entrepreneurs succeed.
If you own a small or medium-sized business, you can get an MSME loan to grow your business.
They also offer business loans for new businesses at low interest rates to support entrepreneurs.
You can use a business loan calculator to see how much you'll pay each month and plan your repayments.
Women entrepreneurs can apply for special business loans with extra benefits.
Their loan requirements are simple and applying for a business loan is easy. You can apply online, call their customer service number, or visit a Tata Capital branch.
Application Submission:
They start processing your application right away, as long as you submit all the required documents correctly.
Preliminary Verification:
They verify your identity, business details, and basic eligibility. This usually takes 1-2 business days.
Detailed Assessment:
They assess your finances and creditworthiness. This can take 3-7 business days, depending on the complexity of your loan and the amount you're requesting.
Approval Decision:
If everything checks out, they will let you know if your loan is approved within 5-10 business days.
Disbursement of Funds:
Once you've approved the terms, they’ll disburse the loan amount within 24-48 hours.
Choose a repayment term between 12 and 60 months.
Pick a repayment plan that fits your business's cash flow.
Key Features of Tata Capital Business Loan Financial Assistance
How Much Can You Borrow?
You can borrow between ₹50,000 and ₹75 lakhs, depending on your eligibility.
Do You Need Collateral?
Many of their loans don't require collateral, so you don't have to pledge your assets.
Flexible Repayment
Choose a repayment term between 12 and 60 months to fit your cash flow.
Competitive Interest Rates
Interest rates start from 19% per annum, but they can vary based on your creditworthiness and business performance.
Tailored Solutions
They offer loans customised to your business size, revenue, and funding needs.
Quick Disbursal
Get your funds quickly, often within 24-48 hours of approval.
Easy Online Application
Apply online with minimal paperwork.
What Kind of Financial Assistance Do They Offer?
Who Can Apply?
Disclaimer: All the features, interest rates, steps, and other information specified above are sourced when this page was written and are subject to change. For exact information, refer to Tata Capital’s website or contact them.
1. Who is eligible to apply for a Tata Capital Business Loan?
Individuals, sole proprietors, partnerships, private companies, and self-employed professionals running profitable businesses for at least two years can apply.
2. What is the interest rate for Tata Capital Business Loans?
The interest rate starts at 13.25% for professionals and 16% for non-professionals, based on eligibility and creditworthiness.
3. What is the maximum loan amount offered by Tata Capital?
Tata Capital offers business loans of up to ₹90 lakh depending on your business needs and eligibility.
4. What documents are required for a Tata Capital Business Loan application?
You need KYC documents, proof of business, income tax returns, financial statements, and bank statements.
5. How long does Tata Capital take to approve a business loan?
Loan approval typically takes 5–10 business days after document verification, with funds disbursed within 24–48 hours post-approval.
6. What repayment tenure options are available?
Repayment terms range from 12 to 60 months, with flexible EMI plans based on your cash flow.
7. Are Tata Capital Business Loans secured or unsecured?
Most Tata Capital business loans are unsecured, meaning no collateral is required.
Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.