Tata Capital Education Loan: Interest Rates & Charges
Lets check out the most important details about this education loan, i.e., the interest rates and also a few other important features.
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Tata Capital Education Loan: Eligibility Criteria
The key eligibility criteria for applying for Tata Capital Education Loan are:
- Indian national between 18 to 35 years of age.
- Must have completed 10+2 and have a good academic record.
- Confirmed admission in listed, recognised, and accredited institutions in India or abroad.
- Eligible Co Applicant Required.
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Tata Capital Education Loan: Documents Required
Below is a detailed list of the documents needed to apply for the Tata education loan:
Also Read: How to Apply for Education Loan in India- Complete Process
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Calculate Your Education Loan EMI
How to Apply for Tata Capital Education Loan?
You can apply either online or offline for Tata Capital Education Loan. Below, we have detailed out the procedure for both types of applications.
How to Apply for Tata Capital Education Loan for Abroad Studies?
The process to apply for a Tata Capital Education Loan for abroad studies remains the same as that for applying for India, although the documents might differ.
You can apply easily on the website by filling out the application form and uploading your documents, or by visiting the nearest Tata Capital Branch.
In both the process, your documents would be assessed and if loan approved, the funds paid directly to the college.
How to Check your Tata Capital Education Loan Status?
If you've applied for a Tata Capital education loan, you can easily track your application status through multiple channels.
- Online tracking on the website or App on their loan section.
- Offline tracking through customer support via call, email or branch visit in person.
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Tata Capital Education Loan Eligible Courses
Here is a list of courses eligible to be covered under Tata Capital Education Loan:
Tata Capital Education Loan Repayment Process
Here’s how you can manage your loan repayment efficiently, as Tata Capital offers flexible repayment options to ease financial planning.
- Moratorium Period: Covers the course duration plus 1 year, giving you time to start repayments after securing a job.
- Repayment Tenure: Up to 13 years with EMI payments via auto debit or online transfer.
- Prepayment: No penalty for early repayment if you choose to clear the loan before the tenure ends.
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Expenses Covered by Tata Capital Education Loan
Here are the major types of expenses that Tata Capital’s education loan typically covers:
- Tuition Fees
- Hostel Fees
- Library Fees
- Examination Fees
- Course Materials include books, stationery, and other study aids.
- Miscellaneous expenses
What is the Maximum Tata Capital Education Loan Without Collateral that You Can Get?
Tata Capital education loan without collateral is available for up to ₹7.5 lakh. For higher loan amounts, collateral may be required depending on the applicant’s profile and institution.
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Benefits of Tata Capital Education Loan
Tata Capital offers education loans with a range of benefits designed to help you achieve your academic goals without financial stress.
1. Competitive Interest Rates
Tata Capital offers education loans with competitive interest rates, which are often lower compared to other financial institutions.
2. Flexible Repayment Options
Tata Capital provides flexible repayment options, including moratorium periods where you can start repaying the loan after completing your course, and extended repayment tenures.
3. No Collateral Required
For loans up to a specified limit, Tata Capital does not require collateral, making it easier for students and their families to access funds without pledging assets.
4. Quick and Easy Application Process
Tata Capital’s online application process is designed to be user-friendly and efficient, allowing you to apply for a loan from the comfort of your home.
5. High-quality Education at an Affordable Price
The cost of tuition and other educational expenses shouldn't stop you from pursuing your goals; we are dedicated to making sure that everyone, regardless of financial situation, has access to high-quality education at an affordable price.
6. Customer Support and Guidance
Tata Capital provides dedicated customer support to assist you throughout the loan application process and beyond, offering guidance and addressing any concerns you may have.
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How to Transfer your Loan to Tata Capital?
Transferring your loan to Tata Capital can help you reduce interest costs and get better repayment terms. Follow these steps to complete the process smoothly:
- Use the Tata Capital app or website to check interest rates and potential savings.
- Review the loan transfer fees and other applicable charges.
- Ensure you meet Tata Capital’s eligibility criteria for loan balance transfer.
- Obtain a No-Objection Certificate (NOC) and apply for foreclosure with your current lender.
- Submit your loan transfer application along with the required documents to Tata Capital.
- Upon approval, sign the loan agreement with Tata Capital.
- Tata Capital will settle your outstanding loan amount with the previous lender, and your old loan account will be closed.
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Why Choose Us?
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By understanding the features, eligibility criteria, and benefits of the Tata Capital education loan, you can confidently plan your academic journey and invest in your future with peace of mind. Whether you’re aiming for a top university in India or abroad, Tata Capital is committed to supporting your educational aspirations.
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