TATA Capital Home Loan Interest rates in Agra
TATA Capital Home Loan Floating interest Rates
| Up To 30,000,00 | 30,000,00 To 75,00,000 | 75,00,000 Above | |
|---|---|---|---|
| Salaried | 9.25% | 9.25% | 9.25% |
| Self Employed | 9.30% | 9.30% | 9.30% |
Loan To Value (LTV) For TATA Capital Home Loan in Agra
Features of TATA Capital Home Loan Agra
| Type | Features |
|---|---|
| Processing Fee | Upto 1.0% |
| Pre Closure Charges | Nil |
| Part Payment Charges | Nil |
| Min Tenure | 1 Years |
| Max Tenure | 30 Years |
| Min Age | 21 Years |
| Max Age | 60 Years |
TATA Capital Home Loan Agra Charges
| Type | Charges |
|---|---|
| E M I Bounce Charges | 3% Per Month |
| Duplicate Statement Charges | NA |
| Insurance Cover | NA |
| Inspection Charges | NA |
| Legal Opinion Valuation Charges | NA |
| Validity Of Sanction | NA |
| Cheque Swapping Charges | Allowed |
| Bounce Cheque Charges | Allowed |
| Issue Duplicate Provisional Interest Certificate | NA |
| Issue Duplicate Interest Certificate | NA |
| Duplicate Balance Certificate | NA |
| Issue Amortization Schedule Duplicate | NA |
| Switch Variable To Fixed | NA |
| Switch Fixed To Variable | NA |
| Photocopy Documents | NA |
Documentation For Home Loan
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Home Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Home Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Income Proof For Home Loan
- Passport
- Telephone bill (BSNL/MTNL)
- Electricity bill
- Title deed of property
- Rental agreement
- Driving license
- Election ID card
- Photo-credit card (with last two month statements)
Address Proof For Home Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof For Home Loan
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Banking History For Home Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Property Related Documents For Home Loan
- Min of 15 years of Link documents of Property
- Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
- Property Sanction plan
- BRS/LRS copies (if required, any)
TATA Capital Home Loan FAQ's
What are the documents that I need to submit when I apply for a home loan?
"You need to submit any one document from each of the following categories: • Age Proof: Passport, Driving License, Life Insurance Policy, Birth Certificate, PAN Card, School Leaving Certificate. • Identity Proof: Passport, Driving License, PAN Card, Voter's ID. • Residence Address Proof: Utility Bill, Bank Statements, Property Registration Documents, Property Tax Receipt, Voter's ID. • Office Address Proof: Employee ID Card/Appointment Letter/Letter from employer on office letterhead. • Income Proof for Salaried Individuals: Last three months's salary slip and appointment letter/yearly increment letter and certified true copy of Form 16. • Income Proof for Self-employed Individuals: Last 2 years of IT returns with supportive documents, Business profile on letter head, Registration certificate for business commencement. • Income Proof for NRIs: Pay slips of last 6 months along with employment stability documents such as appointment letter/previous employment history. • Bank Statements for Salaried Individuals: Bank statement for the last 6 months from the salary A/C. • Bank Statements for Self-employed Individuals: Operative current account statement for 6 months, also, if any, CC/OD facilities taken corresponding bank statements for 6 months to be submitted. • Bank Statements for NRI Applicants: Overseas salary account for 6 months and Indian NRE/ NRO account statements for 6 months to be provided. • Credit Report for NRI: NRI applicants have to submit Credit Report of their current country of residence where ever it is applicable as per Tata Capital norms. • Details of Existing Loan: Existing loan details should be provided through bank statements. • Processing Fee Cheque: To be issued from the salary account for Salaried customer or the business Account in case of Self Employed customer. • Only Aadhaar card is an added one for KYC document. "
What is the maximum loan amount I can avail?
Rs.10 Cr is the maximum loan amount you can apply for. However, there is an overall cap that the loan amount cannot exceed 80% of the market value of the property in consideration.
Who can be my co-applicants for the Home Loan?
You can include your spouse/parents/children/ siblings as a co-applicant for the Home Loan and we shall consider his / her income to enhance your loan eligibility.
Why should I take a loan from Tata Capital?
"The advantages of taking a home loan from Tata Capital are: As per the directive, the revised LTV norms would be : Loans <= 20-lacs : LTV to be <= 90% of the Market Value Loans > 20-lacs <= 75-lacs : LTV to be <= 80% of the Market Value Loan > 75-lacs : LTV to be <=75% of the Market Value Loan To Value: • Maximum Tenure: 20 years subject to your retirement age. • Applicant and Co-Applicant to your Loan: Proposed owners of the property will have to be co-applicants. However, all co-applicants need not be co-owners. • Other Features: Excellent property advisory team, Wide range of options designed to meet your specific needs, transparent terms and conditions, competitive interest rates, doorstep service. "
Will Tata Capital refund my application fee?
The initial fee of Rs. 5,700 ( or Rs.11,400 if the loan amount is more than Rs.1 Cr) that we collect from you is non-refundable as the same goes towards recovering the expenditure relating to processing the loan application.
How long does it take to get my home loan sanctioned?
Our Turnaround Time (TAT) will vary with the complexity of your case, your cooperation in disclosing all your financial obligations and income sources as well as your financial profile. We have a dedicated team of Credit Managers who strive to deliver a decent TAT. Normally, after your file is handed over to us, we give you a confirmation by the issue of a SANCTION LETTER within 4-5 days, if you are a Salaried Employee, or 7-8 days, if you are Self-employed.
What are my options for repayment?
Tata Capital accept PDCs (Post Dated Cheques) as well as ECS (Electronic Clearance Service) facility, where the Equated Monthly Installments (EMIs) are periodically debited from your account with your consent.
Can I avail a Fixed Rate Home Loan instead of a Floating Rate?
You may avail a Fixed Rate Home Loan or Home Equity Loan for the initial term of 3 years, which may get converted into Floating Rates at the end of 3 years.
If my property is under construction, and I have not taken full disbursal, what options do I have regarding my EMI payments?
As per your under-construction contract, you will be required to take the disbursal in tranches (i.e. as and when the builder demands funds on completion of specified slabs of the building). Simple Interest on your tranche payments, for up to two years, is chargeable on a monthly basis till the property reaches a specified stage as agreed upon between the parties. On completion of this stage, the regular EMI option is activated.
Can I make part prepayments on my home loan account?
"• You can make a prepayment of up to 25% of your loan amount, without incurring any prepayment charges. • If the prepayment amount exceeds 25% of your total loan amount, then you'll be charged 2% of the outstanding loan amount. "
What is the maximum period allowed for repayment of the home loan?
Maximum of 20 years, subject to retirement age of the borrower or 65 years in the case of self-employed applicant.
After how many days of sanction is the loan disbursed and, what is the procedure of disbursement for outright purchase of house and for construction of house?
Loan is disbursed in full for outright purchase of ready-to-occupy property, as soon as all the formalities are completed and the sanction conditions are met. For under-construction project, the disbursements will be in installments, based on the construction stage/level.
What extra benefits are available to a home loan borrower?
Income tax benefits and insurance benefits (if opted for).
Why is the rate of interest higher in loan against property as compared to home loans?
Home loans are meant for the special purpose of providing housing facility to individuals at affordable costs. Whereas in case of loan against property, funds are raised for business/personal purpose, generally targeted at business expansion/infusion of working capital in the current business or to meet personal requirements.
What is the process of reducing my loan tenure in case of any rate hike?
"You could reduce your loan tenure by: 1. Increasing your EMI 2. Making a part pre-payment of your loan, or 3. a combination of these two To reduce your loan tenure, please visit the nearest loan serving branch After the change in EMI, you must submit New ECS (Electronic clearance service) mandate/Post Dated Cheques (PDCs) with the updated amount. "
What is the amount of application/processing fee that I have to pay?
"To cover up for certain fixed legal and technical verification costs through qualified and impaneled agencies; we charge you a processing fee. While the processing fee for a home loan may vary, it will not exceed 0.50% of the total loan amount. "
What is the arrangement of Life Insurance facility to secure my home loan?
"Tata Capital offers a Credit Cover for life, for your benefit. In the event of an eventuality, the insurer will clear the loan outstanding or the amount insured in favor of Tata Capital and upon clearance of the principal outstanding, the original property document will be handed over to your nominee. However, this credit cover is dependent on an authentic Declaration of Good Health from you. Please read the Terms and Conditions before signing the insurance documents. "
What could be/are the reasons for change in Rate of Interest (RoI) on my home loan?
Your home loan rate could change in multiple scenarios like revision in the Prime Lending Rate of the company, your rate being shifted from a fixed rate to a floating rate upon maturity of the fixed term of the loan as agreed at the time of loan disbursal, switch of RoI on request and upon submission of switch fees, to avail of a discount over the Prime Lending Rate.
About TATA Capital
Tata Capital Bank is India's largest international bank with 99 branches in 42 cities, and this bank is been operating in India since 1858 In 1858, it opened its first branches in Calcutta, Bombay and Shanghai. Tata Capital Bank is offering Credit Cards, Accounts & Deposits, Personal Loans, Against Securities, Against Term Deposits, Home Loan, Balance Transfer, Loan against Property.
Tata Capital bank is Home Saver is a unique home loan that enables you to pay your home loan in half the time, at half the cost. A linked Transaction Account will be associated with your Home Loan. The surplus money in your Linked Transaction Account will be used to offset the principal of your home loan, which will result in faster closure of your loan. Effectively, interest will be paid only on the difference between the outstanding loan amount and your surplus funds."
TATA Capital Highlights
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Home Loan Can Be Used For Many Purposes Like Below
Why Home Loans?
Most of the families prefer to have their own house whether big or small. There is a significant difference staying in a self owned house than in a rented shelter. House is the most costly asset owned by middle and upper middle class families and it has emotional value. Affording own house with actual money is not always possible. Even though a person has stable income, years of savings are required to own a house in this current market. A Home loan answers the problems of those people who are willing to have their own home but do not have sufficient money to do that. You can now own your dream home by availing Home loan.
Home loan is normally for purchase of a new House/ Flat/Plot or renovation/ renewing of existing residential or commercial properties. Home loans are provided by Banks and registered finance companies. In Indian market there are several Banks/ HFCs providing Home loans at competitive interest rates. Home loan is always secured against the property that you buy. In case you are unable to repay the loan amount the lending bank will have right to take possession of the home.
In case of a Home loan entire lump sum amount will be sanctioned and disbursed initially based on the credit worthiness. You can plan your housing loan repayment tenure varying from 10-30 years and is repayable in form of EMIs. The rate of interest applicable is linked with Bank's base rate. You have a option to chose floating interest rate or fixed interest rate for the loan amount. For those who want the EMI amount to be fixed and are intending to plan their payments accordingly can opt for fixed interest rate. Those who are ready to take minimal risk and intend to avail the advantage in the long run can avail floating rate of interest. Floating rate of interest is more beneficial in the long run.
Expert Advice
Best Practices for Home Loan
Things not to do for Home Loan
Interest Rates
Other Benefits
Facts about Home Loans
The Banks/Financial Institutes takes care about the following, when you apply for a Home Loan.
Home Loan Vs Mortgage Loans
| Home Loans | Mortgage Loan |
|---|---|
| Home loan can be availed for own/purchase of new property (Home or Flat). | Mortgage loans will be provided based on already owned property. |
| Under Home Loan, loan can be availed only for purchase of new property. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Housing Loan will be provided for max of 25 years, some banks can extend it to 30 years also. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Home Loans interest will be as low as 9.95% to max of 11.5%, these interest rates will be subject to change as per market condition. | Interest rate will be very from 12% to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| Home Loan customers can be eligible for Income tax deduction of Rs 1.00 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5 lakh under section 24, only if the value of the property purchased should not exceed Rs 40 lakh. Also, it could result in maximum savings of Rs 30,000-31,000. | If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. However, if an individual is using it for personal end use, like marriage or medical expenses, the interest is not tax deductible as per income tax guidelines. |
| Loan can be availed up to max of Rs. 1.0 Cr under home loan, for real estate project funding it can be up to Rs. 20.0 based on the bank risk appetite. | Mortgage Loans can be avail up to Rs. 15.0 cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There is no prepayment penalty for the housing loan customers, when the loan will be cleared by the own funds. | There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines. |
| Part pre Payments will be allowed in Housing Loans. | There were no part prepayment will be allowed for Mortgage loans. |
| Housing Loan can be availed with joint eligibility by Husband and wife or blood relatives. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| You can avail max of 80% of the property value as a home loan as per your eligibility criteria. | In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property. |
| You can avail a top loan facility on your home loan. | Top up facility will be vary from bank to bank internal guidelines. |
About Agra
Agra is a city on the banks of the river Yamuna in the northern state of Uttar Pradesh, India.The Hindu epic Mahabharata refers to it as ‘Agraban’, part of Brij Bhoomi, the homeland of Lord Krishna. , Agra is best known for the Taj Mahal, one of the Seven Wonders of the modern World.
Emperor Shah Jahan built this exquisite white marble mausoleum for his favourite queen Mumtaz Mahal.The monument was commissioned in 1631 and took 22 years, and 20,000 artisans to complete. An entire township now known as Taj Ganj came up around the site. Here, craftsmen live and sell their wares of marble and stone inlay and replicas of the Taj. After the reign of the last great Mughal, Aurangzeb, Agra fell into the hands of the Jats and then the Marathas. In 1803, the British under General Lake captured the city. Once again, it secured its position of eminence as the capital of the north-western provinces.
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Places To Be Visited In Agra
Chini Ka Roza
The tomb of Afzal Khan, the persian poet and minister at Shah Jehan's court gets its name from the brightly coloured glazed tiles that decorate it . Lies just 1km beyond itmad -ud -daula.
Sikandara
A suburb of Agra, only 13 km. From the Agra Fort. The last resting place of the Mughal Emperor Akbar. Akbar was the greatest of the Mughal emperors and one of the most secular minded royalties of his time. He was the heir to a long tradition of oriental refinement, a great patron of the arts, literature, philosophy and science. A visit to Akbar's monument opens before one, the completeness of Akbar's personality as completely as the Taj Mahal does of Mumtaz Mahal's.
Taj Mahal
Agra is famous as being home to one of the seven wonders of the world-the Taj Mahal. The architectural splendour of the mausoleums, the fort and the palaces is a vivid remainder of the mausoleums, the fort and the palaces is a vivid reminder of the capital in the 16th and early 17th centuries.
Agra Fort
Built by the great Emperor Akbar in 1565 A.D. the fort is a masterpiece of design and construction. Within the fort are a number of exquisite building, including the Moti Masjid, Diwane-I-Aam, Diwani-I-Khas and musanman Burj, where the Emperor Shah Jahan died in imprisonment beside Jahangirs place, Khaas Mahal and the Sheesh Mahal.
Itmad - Ud Daula
To the north of the fort and across the river Yamuna are several fine examples of Mughal architecture. The Itmad -Ud -Daula as a by the Empress Noor Jehan as a memorial to her father Mirza Ghiyas Beg , is beautifully ornamented with pietra dura inlay and lattice work marble screens.
Fatehpur Sikri
Imposing gateways and light- hearted palaces were built in red sandstone within this fortified city only to be abandoned a few years later. Among its many architectural game are the places for his queens - Jodha Bai, Mariyam and his Turkish sultana, built in varying styles, each perfect in itself.The Diwan-e-Khas entirely unique in its concept is a tall vaulted room with an intricately carved central pillar and capital supporting a platform that once held the emperor's throne. Narrow galleries link this to the corners of the room where it is believed his ministers sat the airy panch mahal a 5 storied structure rising in pyramidal fashion was probably used by the ladies of the court. Set like a jewel in a courtyard of pink sandstone is the finest building here, the marble tomb of Salim Chisti enclosed by finely carved, lacy marble screens. The Buland Darwaza, an imposing gateway 54 m high was built to commemorate Akbar's Aligarh the famous university town is a center of Islamic studies. The city is also noted for its handicrafts and metal ware.