TATA Capital Education Loan

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, and accessibility of student loans to many students, they are levelling up the game to fulfil 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 rates start at	10.99%
Branches across India	200+
Official Website	https://www.tatacapital.com/personal-loan/education-loan.html
Contact No.	1860 267 6060

[powerkit_toc title=”This Blog Includes:”]

Benefits of TATA Capital Loan

There are many benefits of getting a TATA Capital Loan for studying abroad. Check the advantages of this loan below:

• Customized Services – Your educational requirements are unique. That is why they allow you to customise the loan to meet your specific requirements. Your education loan can pay tuition, hostel expenses, book costs, and so forth.
• Simple Repayment Option- You have the option and control over how you repay your college debt. Apply online for the best option for you.
• Little paperwork- They pave the road for your bright future by making the process simple and straightforward.
• Rapid Acceptance– You only need to provide a few documents with your application to get your loan approved.

Eligibility Criteria

You are eligible for a Tata Capital Education Loan if:

• You are an Indian citizen,
• You are between the age of 16 – 26 years,
• You have an excellent academic record,
• Your parents have a stable income source,
• You either have a guarantor or show security.

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. 

Rates & Charges 

The following general charges are involved in personal loans: 

• Processing Fee – The 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 monthly instalments. The borrower can now pay the delayed instalment 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 the 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 the 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 in 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. 

Expenses Covered

Tata Capital Finance Limited Student Loan Scheme Expenses

• Examination Fee
• Tuition Fee
• Hostel Fee
• Library/Laboratory Fee
• Book, equipment, instrument, or uniform costs
• Miscellaneous expenses include study tours, project work, thesis, and so on.
• A computer or laptop at a reasonable price (if required)

Courses Covered

Tata Capital provides Student Loans for courses both in India and overseas. The list of courses eligible for the Tata Capital Education Loan is provided below.

Courses Available in India

• Degree/post-graduate/diploma programmes from accredited universities
• Professional courses/technical courses/management courses
• PhD programmes.

Courses Provided Outside of India

• Graduate/postgraduate degrees from reputable universities
• London, CPA, CIMA, USA, and other similar institutes provided certified degree programmes.
• PhD programmes.

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 an 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 a high disposable income

Loan Repayment Process

If you apply for a Student Loan with Tata Capital, you will be able to enjoy a repayment plan that is tailored to your specific circumstances. Their repayment terms range from 12 months to 72 months. You can pay your EMIs online at any time by visiting their website. Alternatively, you can mail a check to the nearest Tata Capital branch. No questions asked, you have ultimate control over your student loan repayment!

FAQs

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 study 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.