TATA Capital Education Loan

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Tata Capital offers several education loans to provide students with their tuition fees and living costs for higher studies in India and abroad. The highest quality of education should be available for all those regardless of someone’s financial background, is a promise to candidates by Tata Capital Education Loan. With quick approval rates, minimal documentation, competitive interest rates, accessibility of student loans to many students, they are leveling up the game to fulfill their potential. In this article, we have enlisted all the information about the Tata Capital Education Loan for funding your dream of overseas education. 

Loan Name  TATA Capital Education Loan
Provider  TATA Capital 
Nationality  Indian 
Age group eligible  Between 16 – 26 
Loan amount ₹75,000 – ₹30,00,000
Loan Tenure 12 – 72 months
Interest rate starting at 10.99%
Branches across India  200+
Official Website  https://www.tatacapital.com/personal-loan/education-loan.html 
Contact No. 1860 267 6060 
Credits: Tata Capital

Tata Capital Education Loan Eligibility

You are eligible for a Tata Capital Education Loaneducation loan if you are an Indian citizen, between the age of 16 – 26 years and have an excellent academic record. Parents must have a stable income source. A candidate must have security or have a guarantor, and your eligibility also depends on the credit history of your co-applicants. 

Tata Capital Education Loan Documents Required 

Take a look at the following to find out the documentation requirements for the Tata Capital 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) 

NOTE: The maximum amount will depend on your needs and eligibility. Typically, the maximum loan amount approved to study domestically is INR 15 lakhs, and internationally is INR 30 lakhs. 

Tata Capital Education Loan Rates & Charges 

The following general charges are involved in the personal loans: 

  •  Processing Fee – Processing fee is a one-time charged fee by lenders when you   process the personal loan application. It is a non-refundable fee even if the loan does not get sanctioned. Up To 2.75% of the loan amount + GST.
  • Penal Interest/Additional Interest – Penal Interest is the rate of interest that will be charged on delayed month installments. The borrower can now pay the delayed installment inclusive of the additional interest. 3% on an overdue amount per month + GST.

Take a look below for the miscellaneous charges under Tata Capital Education Loan: 

Bounce Charges INR 600 for every cheque + GST
Mandate Rejection Service Charge 450 + GST
CCOD Annual Maintenance Charges 0.25% on 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 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
Duplicate NOC  INR 550 + GST
Post-Dated Cheque Charges INR 850 + GST

Application Process

Here’s a sneak peek of the application procedure for a candidate: 

  • Online application: Apply for the Tata Capital Education Loan by putting up your basic information. 
  • Submit the documents: After receiving the loan eligibility, fill the required documents for the desired application. 
  • Verify the application: The application loan will be properly verified and then documents would be submitted. 
  • Approval: The loan is sanctioned post approval
  • Finally, receive the required education loan in your bank account. 

Calculate your Tata Capital Education Loan EMI 

Here is the information to calculate your EMI: 

  • Education Loan Amount (the loan amount you wish to get)
  • Interest Rate (Tata Capital Education Loan interest rate begins at 10.99%)
  • Loan Tenure (Tata Capital offers 12 – 72 months of time) 
  • Click the calculate button. The system allows you for EMI monthly break-up of both the interest and principal payment. 
  • If the Education Loan EMI is higher or lower than you want to pay, edit the principal amount and follow the same steps from 2 – 4. 

EMI Options for Tata Capital Education Loan

Have a look at the EMI options that are available for the Tata Capital Education Loan: 

Standard EMI Plan

Standard EMI Plan is created to allow you to pay the principal amount and interest consistently for your defined period. 

  • Tata Capital Education Loan EMI amount remains the same for the entire loan period
  • It is Standard Plan
  • Ideal if you have a consistent income

Step Up Flexi EMI Plan

Step Up Flexi EMI Plan offers great flexibility. This repayment option allows you to pay lower EMIs in the beginning and as your salary increases, you pay higher EMIs. 

  • Provides higher Education Loan eligibility
  • Pay more when you can afford
  • Helps to manage income flow efficiently 
  • Ideal if you expect your income to increase at regular intervals

Step Down Flexi EMI Plan

Step Down Flexi EMI Plan offers flexibility to pay higher EMIs at the beginning and lower ones at the end.

  • Reduces interest substantially
  • Provides higher Education Loan eligibility
  • Ideal if you have high disposable income

FAQs

What is a Personal Loan for education?

An Education Loan is offered to finance the higher studies of a prospective student. In addition, if you are a parent or student with a TATA Capital Education loan, you can pay for professional or technical education in India or overseas. 

What are the benefits of going for a Personal Loan for education?

Some of the benefits are: 
Flexible Repayment Options
Lower Interest Rate
Tax Benefits
Quick and Fast Approvals

What is the maximum time to repay the education loan?

The maximum repay time of the TATA Capital education loan is up to 6 years.

What is the maximum amount available for an education loan? 

Loan of up to INR 25 lakhs if you are planning to study in India. If you plan to study
overseas, you can take up to INR 30 lakhs.

What is the interest rate for an education loan?

Personal Loan for Education is competitive and affordable. Rates begin from 10.99%.

So, the blog on Tata Capital Education Loan comes to an end. We hope you find this helpful providing you with all the details. There are plenty of other education loans to choose from. If you’re looking to pursue higher education abroad with the help of loans and other scholarship programs, get in touch with us at Leverage Edu and take an informed step towards a rewarding career.

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2 comments
    1. Hello Justin,
      Thank you so much for liking our blogs and content! We highly appreciate that coming from our readers. We would Request You to stay tuned with us for more amazing content. You can even subscribe to our newsletter at https://leverageedu.com.

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