Tata Capital Business Loan Interest Rates

Tata Capital Business Loan is a customized financial product which helps to upgrade the technology, increase the working capital, expand the business and much more. Tata Capital Business Loan Interest Rates offered is highly attractive with a processing fee up to 2.75% of the loan amount plus the applicable taxes. The higher is your loan eligibility, the lower is Tata Capital Business Loan Interest Rates and lower the loan eligibility, higher is Tata Capital Business Loan Interest Rates. So, you need to pay your loans and other debts within the stipulated time period to build a good repayment record moreover the business must generate a minimum turnover of Rs. 1 crore which will lower Tata Capital Business Loan Rate of Interest.

Which factors affect Tata Capital Business Loan Interest Rates?

Tata Capital Business Loan Rate of Interest can be easily checked using Tata Capital Business Loan Interest Rate Calculator that calculates based on Tata Capital Business Loan Eligibility. If you want to get lower Tata Capital Business Loan Interest Rates, then you can go for the higher loan amount and maintain a credit score of 750 or above.

Here are some of the important factors that affect Tata Capital Business Loan Rate of Interest-

• Age

  One of the important factor that affects Tata Capital Business Loan Interest Rates is the age of the applicant. The minimum and maximum age limit ranges from 25 to 65 years. Tata Capital Business Loan Interest Rates of young applicant is low as they possess a high repaying capacity. Also, many exciting offers and benefits are provided to them. But Tata Capital Business Loan Interest Rates of the older applicants are high as they have a very low repaying ability.

• CIBIL Score

  Your repaying ability is shown by the CIBIL score which affects Tata Capital Business Loan Rate Of Interest. Higher CIBIL score of 750 or above will lesser your Tata Capital Business Loan Interest Rates. But lower CIBIL score below 750 will increase your Tata Capital Business Loan Interest Rates. So, practicing a disciplined repaying habit will increase your CIBIL score and lower your Tata Capital Business Loan Interest Rates.

• ITR

  Tata Capital Business Loan interest rate also gets affected by the ITR details. You must produce ITR copy of past 24 months and updated bank statement of last 6 months which will lesser your Tata Capital Business Loan Interest Rates.

• Business Stability

  To lower Tata Capital Business Loan Interest Rates, you need to have high eligibility. So, you need to have a stable business record of 5 years. Also, the business must have a minimum turnover of at least Rs. 1 crore and must be succesful in generating profit for a minimum period of 2 years which will lesser your Tata Capital Business Loan Interest Rates.

• Housing Situation

  Your housing situation is a very big factor which affects Tata Capital Business Loan Interest Rates. Staying in own house will not affect your repaying capacity and hence will lower your Tata Capital Business Loan Interest Rates. But staying in a rented house/flat will lower your repaying ability as you need to pay a certain amount as rent. This will increase your Tata Capital Business Loan Interest Rates. Having your own workplace also lowers your Tata Capital Business Loan Interest Rates.

• Existing Debt

  Another important factor that affects Tata Capital Business Loan Interest Rates is your existing debts. The burden of paying credit card dues or EMI of loan decreases your repaying ability and will increase your Tata Capital Business Loan Interest Rates. Also, if your present obligation consumes a maximum 40% of your monthly income, then also your Tata Capital Business Loan Interest Rates will be high. So, it is better to pay off the ongoing debts for a lower Tata Capital Business Loan Interest Rates. You can also opt for balance transfer and a top-up loan for a lower Tata Capital Business Loan Interest Rates.

• Geographical Location

  Tata Capital Business Loan Interest Rates gets affected by your geographical location. If your geographical location based on an urban or metropolitan area, then your Tata Capital Business Loan Interest Rates will be low. But if your geographical location is based on a village or rural area, then your Tata Capital Business Loan Interest Rates will be high. In addition to that, staying in the red marked area pointed by the financial institutions will also increase your Tata Capital Business Loan Interest Rates.