Got your heart set on a spacious two-bedroom house but having trouble choosing the right loan lender? Well, Tata Capital may be able to solve your predicament. Being one of the most reputed lending institutions in the business, Tata Capital provides a range of home loan products that cater to every need possible: home renovation, home reconstruction, or home extension.
Moreover, you can also enjoy competitive interest rates, long tenures, and quick disbursals if you opt for said housing loans.
But that’s not it! Tata Capital’s loan products come with a host of many other characteristics which will make your loan application and loan repayment process seem like a walk in the park. Here are some of those features.
Tata Capital’s housing finance options offer you the freedom to customise your loan to suit your financial capabilities and preferences. They let you choose your tenure and loan amount, allowing you to plan the home loan EMI repayment schedule in advance. Also, you have the option to select between a standard EMI plan and a Step Up Flexi EMI plan.
A Standard EMI plan involves paying the same EMI amount for the entirety of your tenure. On the other hand, the Step Up Flexi EMI plan allows you to increase the EMI amount gradually as your salary increases. This flexibility will enable you to pay more interest when you can afford it and efficiently manage your cash flow.
If you are no longer satisfied with your current lender’s services – be it high home loan interest rates or below-average customer service – you can transfer your outstanding loan amount to Tata Capital. A loan transfer incurs payment of processing fee, which is a mere 0.5% at Tata Capital.
After successfully transferring your loan, you will pay the subsequent EMIs at the interest rates and repayment schemes offered by Tata Capital.
Tata Capital’s housing loans also come with a top-up service, wherein you can add a certain sum of money to your original principal amount. These top-ups can come in handy if a new need arises, say home renovation or extension.
They are also quite useful in times of emergencies. Lastly, there have been many cases where a builder increased the property’s cost due to budget overshoots. Tata Capital’s loan top-ups can compensate for these increments.
Tata Capital offers an entirely online application process, which you can finish in a matter of minutes. With their online process, you will not only get instant approval, along with an e-sanction letter but also won’t need to visit a branch and wait your turn standing in long queues. The process requires you to provide personal, occupational, and property details, using which your home loan eligibility will be assessed.
When approved, you can generate your in-principle offer by submitting all the documents online, and you will get your e-sanction letter straight in your inbox. Also, when it comes to online functionalities, Tata Capital’s houses many tools like home loan EMI calculator, eligibility calculator, GST calculator, and many other, to make your planning a little easier.