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Key Features Of Tata Capital Housing Finance Mortgage Loans

  • Loan Amount: Up to ₹15 crores, depending on eligibility and property value.
  • Competitive Interest Rates: Starting from 8.7% per annum (subject to credit profile and market conditions).
  • Flexible Tenure: Up to 20 years for loan against property (LAP).
  • Loan Types: Includes home loans, loan against property, and affordable housing finance.
  • Quick Processing: Fast approval and disbursal, often within days, with minimal documentation.
  • Top-Up Facility: Additional funding on existing loans for other financial needs.
  • Balance Transfer: Option to transfer high-interest loans from other lenders to lower rates.
  • Flexible Repayment Options: Choice of EMI plans to suit financial goals.
  • Tax Benefits: Eligible for tax deductions under Sections 24, 80C, and 80EEA of the Income Tax Act (for home loans).
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      • Tenure: Home Loans: Up to 30 years. Loan Against Property: Up to 15 years. Flexible repayment options to suit borrower’s financial capacity.
      • Online Management: Digital tools like the Tata Capital app for loan tracking and payments.
      • Processing Fees: Home Loans: 0.25% to 1% of loan amount (plus GST). Loan Against Property: Up to 1% of loan amount. Concessions may apply during festive offers or for specific borrower categories.
      • Repayment Options: EMI-based repayment (Equated Monthly Installments). Step-Up EMI: Lower EMIs initially, increasing over time. Prepayment: Nil or low prepayment charges for floating-rate loans; fixed-rate loans may have charges.
      • Special Schemes: Griha Shobha: For women borrowers with relaxed terms. Advantage Plus: For affordable housing with subsidies under PMAY (Pradhan Mantri Awas Yojana). Apna Ghar: For NRIs and self-employed individuals. PMAY Subsidy: Eligible borrowers can avail CLSS (Credit Linked Subsidy Scheme) benefits.
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Benefits of Tata Capital Housing Finance Mortgage Loans

  • Competitive Interest Rates: Tata Capital provides attractive interest rates starting at approximately 8.7% per annum (subject to creditworthiness, loan type, and market conditions). Both fixed and floating rate options are available, allowing borrowers to choose based on their financial planning needs. Floating rates can benefit from market dips, while fixed rates offer stability against rate hikes. Lower rates translate into reduced EMI burdens, making homeownership or property-backed financing more affordable over time.
  • High Loan Amounts: Borrowers can access substantial loan amounts, with home loans and loans against property going up to ₹15 crores, depending on the property’s value and repayment capacity. This makes it suitable for purchasing high-value properties, funding large-scale business needs, or consolidating debts using property as collateral.
  • Flexible Loan Tenure: Loan tenures extend up to 30 years for home loans and 20 years for loans against property, enabling smaller EMIs spread over a longer period.
        • Tax Benefits: Home loan borrowers can claim tax deductions under the Income Tax Act, 1961: Section 80C: Up to ₹1.5 lakh per annum on principal repayment.
        • Affordable Housing Schemes: Tata Capital supports the Pradhan Mantri Awas Yojana (PMAY), offering subsidized interest rates and credit-linked subsidies for economically weaker sections (EWS).
        • Digital Convenience: The Tata Capital mobile app and online portal allow borrowers to manage their loans seamlessly, from tracking EMI schedules to making payments or requesting top-ups.
        • Wide Eligibility and Customized Solutions: Tata Capital caters to a broad audience, including salaried individuals, self-employed professionals, business owners, and non-resident Indians (NRIs).
        • No Prepayment Penalties (Floating-Rate Loans): For individual borrowers with floating-rate home loans, Tata Capital imposes no charges for prepaying or foreclosing the loan.
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How to Apply for Tata Capital Housing Finance Mortgage Loans

  • 1. Check Eligibility:
    • Age: Typically 21–60 years for salaried individuals and up to 65 for self-employed applicants.
    • Income: Stable income with proof (salary slips/ITR); varies based on loan amount.
    • Credit Score: Preferably 700+ for higher chances of approval and better interest rates.
    • Property: Must be legally clear and meet LICHFL’s approval criteria.
    • Use the online eligibility calculator on lichousing.com to estimate loan amount and EMI.
  • 2. Choose Loan Product:
    • Select the suitable loan type as per your need – home loan, loan against property, balance transfer, or PMAY-linked loan.
  • 3. Gather Required Documents:
    • Identity Proof: Aadhaar card, PAN card, Voter ID, or Passport.
    • Address Proof: Utility bill, Aadhaar card, or rental agreement.
    • Income Proof:
      • Salaried: 3–6 months’ salary slips, Form 16, bank statements.
      • Self-Employed: ITRs, balance sheet, and profit/loss statement for the last 2–3 years.
    • Property Documents: Agreement to sale, title deed, NOC from society/authority, tax receipts, etc.
    • Others: Passport-size photographs, filled loan application form, and processing fee cheque.
  • 4. Apply for the Loan:
    • Online Application:
      • Visit lichousing.com or download the LICHFL Homify app (iOS/Android).
      • Fill out the online form with personal, income, and property details.
      • Upload scanned copies of required documents.
      • Pay the non-refundable processing fee (typically 0.25%–1% of the loan amount).
    • Offline Application:
      • Visit the nearest LICHFL branch or Area Office.
      • Collect and submit the physical application form with required documents.
      • Pay the processing fee via cheque or demand draft.
  • 5. Loan Processing:
    • LICHFL verifies your application, assesses creditworthiness, and conducts legal and technical evaluation of the property.
    • You may be contacted for additional documents or clarifications.
  • 6. Loan Approval and Sanction:
    • On successful verification, you’ll receive a sanction letter mentioning loan amount, interest rate, tenure, and repayment terms.
    • Review the offer carefully before proceeding.
  • 7. Sign Agreement and Disbursal:
    • Sign the loan agreement and set up EMI payments via ECS or post-dated cheques.
    • Complete property-related formalities such as registration and stamp duty.
    • Loan amount is disbursed directly to the seller, developer, or as per the agreed purpose.
  • 8. Track Your Application:
    • Use the LICHFL Homify app or website to monitor your loan application status using the application/reference number.

Eligibility Criteria for Tata Capital Housing Finance Mortgage Loans

  • Applicant Type:
    • Salaried Individuals: Must be employed with a reputed organization (private, public sector, or MNC).
    • Self-Employed Professionals (SEP): Doctors, engineers, architects, chartered accountants, etc.
    • Self-Employed Non-Professionals (SENP): Business owners, traders, or proprietors.
    • Non-Resident Indians (NRIs): Eligible for specific home loan schemes (additional criteria like valid work visa apply).
  • Age:
    • Minimum Age: 21 years at the time of application.
    • Maximum Age at Loan Maturity:
      • Salaried: Up to 65 years (or retirement age, whichever is earlier).
      • Self-Employed: Up to 70 years (may vary based on loan tenure and bank discretion).
  • Income Requirements:
    • Salaried:
      • Minimum monthly income: ₹25,000 or higher.
      • Stable employment history, usually at least 1-2 years with the current employer or 3+ years overall.
    • Self-Employed:
      • Minimum annual income/profit: ₹3 lakh per year (post-tax, as per ITR), though higher income may be required for larger loans.
      • Business continuity: At least 3–5 years of stable operations with consistent revenue.
    • NRIs: Minimum monthly income equivalent to ₹30,000–₹50,000 (varies by country and loan scheme).
  • Credit Score:
    • A CIBIL score of 700 or above is preferred for better approval chances and competitive interest rates.
    • Applicants with scores between 650-700 may be considered but could face stricter scrutiny or higher rates.
    • No recent defaults, bankruptcies, or frequent loan rejections, as these negatively impact eligibility.
  • Property Ownership:
    • The applicant (or co-applicant) must own a property to offer as collateral.
    • Eligible Property Types: Residential (house, flat, or plot in approved areas), Commercial (office, shop, or other business premises), Select industrial properties (case-by-case basis).
    • The property must have a clear and marketable title, free from legal disputes or encumbrances.
    • Property should meet the bank’s technical and legal standards (e.g., approved building plan, occupancy certificate if applicable).
  • Loan-to-Value (LTV) Ratio:
    • IDFC First Bank typically finances 50-60% of the property’s market value for mortgage loans .
    • Higher LTV (up to 65-70%) may be possible for prime properties or applicants with excellent credit profiles, subject to bank discretion.
    • The property’s value is determined by a bank-appointed valuer during the loan process.
  • Nationality and Residency:
    • Applicants must be Indian residents. Non-Resident Indians may be eligible for specific mortgage loan products, but this is less common and subject to stricter conditions .
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Documents Required for Tata Capital Housing Finance Mortgage Loans

  • Application Form:
    - Duly filled and signed IBHFL loan application form (downloadable from indiabullshomeloans.com or available at branches).
    - 2-3 passport-size photographs of the applicant(s) and co-applicant(s).
  • Identity Proof (Any one, self-attested copy):
    - PAN Card (mandatory for credit processing).
    - Aadhaar Card.
    - Voter ID.
    - Passport.
    - Driving License.
  • Address Proof (Any one, self-attested copy):
    - Aadhaar Card.
    - Utility bill (electricity, water, gas) not older than 3 months.
    - Passport.
    - Voter ID.
    - Rental agreement or registered lease deed.
  • Income Proof:
    For Salaried Individuals:
    - Latest 3-6 months’ salary slips.
    - Form 16 or ITR for the last 2 years.
    - Bank statement (salary account) for the last 6 months.
    - Appointment letter or employer certificate (if requested).
    For Self-Employed Individuals:
    - Income Tax Returns (ITR) with computation of income for the last 2-3 years.
    - Balance sheet and profit & loss account (certified by a CA) for 2-3 years.
    - Bank statement (business/personal account) for the last 6-12 months.
    - Business proof: GST registration, shop act license, partnership deed, or company incorporation certificate.
  • Property Documents:
    - Sale agreement or agreement to sale.
    - Title deed (chain of ownership documents for 13-30 years, as applicable).
    - Approved building plan and layout from local authorities.
    - No Objection Certificate (NOC) from builder, society, or development authority.
    - Encumbrance certificate (showing no legal dues).
    - Occupancy certificate or completion certificate (for ready properties).
    - Property tax receipts or index-II copy.
    - For LAP: Property valuation report and proof of ownership.
    - For PMAY: Property details meeting carpet area norms (e.g., 90 sq.m for MIG-I).
  • Other Documents:
    - Processing fee payment proof (0.5%-2% of loan amount, non-refundable) via cheque, demand draft, or online transaction.
    - Loan statement or repayment track record (for balance transfer cases).
    - Post-dated cheques or ECS/NACH mandate for EMI payments.
  • NRI-Specific Documents (if applicable):
    - Copy of valid passport and visa/work permit.
    - Employment contract or salary certificate (attested by employer/embassy).
    - NRE/NRO bank statement for 6-12 months.
    - Power of Attorney (if a local representative handles the process).
    - Credit report from the country of residence (if required).
  • Scheme-Specific Documents:
    PMAY (Pradhan Mantri Awas Yojana):
    - Income certificate (e.g., ₹6 lakh/year for EWS/LIG, ₹18 lakh for MIG-II).
    - Aadhaar-linked declaration of no pucca house ownership.

Factors for Tata Capital Housing Finance Mortgage Loans

  • Credit Score:
    - A strong credit score (ideally 700+ on CIBIL or equivalent) increases approval chances and may secure lower interest rates.
    - Poor credit history or defaults can lead to rejection or higher rates.
    - Impact: A higher credit score results in better loan terms, lower rates, and more favorable approval conditions.
  • Income and Repayment Capacity:
    - Salaried Applicants: Regular salary with 2-3 years of employment.
    - Self-Employed Applicants: Consistent business income for 2-3 years, verified via ITRs or financials.
    - Debt-to-Income Ratio: EMI (including other loans) should not exceed 40-50% of monthly income.
    - Impact: Higher income supports larger loan amounts and longer tenures.
  • Loan-to-Value (LTV) Ratio:
    - LICHFL offers up to:
    • 90% of property value for loans up to ₹30 lakh.
    • 80% for ₹30 lakh to ₹75 lakh.
    • 75% for above ₹75 lakh.

    - Impact: Lower LTV (higher down payment) improves approval odds and may reduce interest rates.
  • Property Characteristics:
    - Property must have clear title, approved plans, and no legal disputes.
    - Eligible types: Residential (flats, houses), under-construction properties by approved developers, or commercial (for specific loans).
    - Property valuation by LICHFL’s empaneled valuers impacts loan amount.
    - Location and marketability affect approval (urban properties often preferred).
    - Impact: A property with a clear title and good market value improves eligibility and loan approval.
  • Applicant Profile:
    - Age: 21-60 years (salaried) or up to 65 (self-employed) at loan maturity. Younger applicants may get longer tenures.
    - Employment/Business Stability: Continuous job or business (2-3 years) ensures repayment reliability.
    - Co-Applicant: Adding a spouse or family member with income can boost eligibility.
    - NRI Status: For NRIs, overseas income, work permit, and repatriation terms matter.
    - Impact: A stable applicant profile with a co-applicant can result in better loan terms and larger loan amounts.
  • Loan Amount and Tenure:
    - Loan amount depends on income, property value, and LTV ratio (ranges from ₹1 lakh to several crores).
    - Tenure: Up to 30 years for salaried individuals, 20 years for self-employed applicants, or 15 years for loan against property.
  • Interest Rate Type:
    - Floating Rate: Linked to LICHFL’s Prime Lending Rate (PLR), starting around 8.40% (as per recent data). Fluctuates with market conditions.
    - Fixed Rate: Higher than floating, offers EMI stability but limited tenure.
  • Documentation:
    - Complete and accurate documents (ID, income proof, property papers) expedite processing.
    - Missing or unverifiable documents can delay or derail approval.

Frequently Asked Questions (FAQs)

What types of mortgage loans does Tata Capital Housing Finance offer?
Home Loans: For purchasing, constructing, or renovating residential properties (flats, houses, plots).
Loan Against Property (LAP): To unlock funds by mortgaging residential or commercial properties for business, education, or personal needs.
Affordable Housing Loans: Under PMAY for EWS, LIG, and MIG categories with subsidies.
Balance Transfer: To shift existing loans from other lenders to Tata Capital for lower rates.
Top-Up Loans: Additional funding for existing borrowers for various purposes.
Who is eligible for a Tata Capital mortgage loan?
Salaried Individuals: Aged 21–60 years, minimum ₹20,000 monthly income, 2+ years of work experience.
Self-Employed: Aged 21–65 years, ₹2–3 lakh annual income, 3+ years of business stability.
NRIs: Aged 21–60 years, stable overseas income (e.g., USD 30,000 p.a.), valid work permit.
PMAY Applicants: Annual household income up to ₹18 lakh (MIG-II), no pucca house ownership.
A CIBIL score of 750+ is preferred, and the property must have a clear title with approved plans.
Co-applicants (spouse, family) can enhance eligibility.
What is the maximum loan amount I can get?
Up to ₹15 crores for home loans and LAP, depending on:
Income and repayment capacity.
Property value (LTV ratio: 80–90% for home loans, 60–70% for LAP).
Credit profile.
PMAY loans are capped at ₹35–45 lakh (based on MIG category) with subsidies up to ₹2.67 lakh.
What are the interest rates for Tata Capital mortgage loans?
Starting at ~8.7% p.a. (indicative, as of April 2025), subject to:
Credit score (higher scores get lower rates).
Loan type (home loan vs. LAP).
Floating vs. fixed rate choice.
PMAY loans may have subsidized rates (6–7% effective after subsidy).
Women applicants or balance transfer cases may qualify for concessional rates.
Rates vary with RBI’s repo rate and market conditions; check www.tatacapital.com for updates.
What is the loan tenure offered?
Home Loans: Up to 30 years.
Loan Against Property: Up to 20 years.
PMAY Loans: Typically 20–30 years, based on subsidy terms.
Longer tenures reduce EMIs but increase total interest paid.
What documents are required to apply?
KYC: Aadhaar, PAN, passport, voter ID, or driving license; address proof (utility bill, rental agreement).
Income Proof:
Salaried: 3 months’ salary slips, 6 months’ bank statements, Form 16, ITRs (2 years).
Self-employed: ITRs (3 years), P&L statement, Balance Sheet, business proof (GST, license).
NRIs: Overseas salary slips, work permit, NRE/NRO bank statements.
Property Documents:
Home loan: Sale agreement, title deed, approved plans, NOC, tax receipts.
LAP: Ownership deed, encumbrance certificate, valuation report.
PMAY: Aadhaar-linked papers, income certificate, no-house affidavit.
Others: Application form, photographs, existing loan statements (for balance transfer).
Originals needed for verification; self-attested copies for submission.
How can I apply for a Tata Capital mortgage loan?
Online:
Visit www.tatacapital.com, select “Home Loans” or “Loan Against Property.”
Fill the form with personal, income, and property details.
Upload initial documents and track status using the reference number.
Offline:
Visit a Tata Capital branch, consult a loan officer, submit the form and documents.
Customer Care: Call 1860-267-6060 to initiate the process.
Partners: Apply through builders or DSAs tied to Tata Capital.
Processing takes 7–15 days if documents are complete.
What are the processing fees and other charges?
Processing Fees: 0.5–2% of the loan amount (partly non-refundable).
Other Charges:
Legal and valuation fees (₹5,000–₹15,000, indicative).
Prepayment/foreclosure charges: Nil for floating-rate home loans; 2–4% for fixed-rate or LAP (as per terms).
Late EMI payment penalty: 2–3% of overdue amount.
Loan insurance (optional, varies by coverage).
Exact charges are detailed in the loan agreement; confirm at application.
Can I prepay or foreclose my loan? Are there charges?
Floating-Rate Home Loans: No prepayment or foreclosure charges for individual borrowers.
Fixed-Rate Home Loans: 2–4% of outstanding amount (as per sanction letter).
Loan Against Property: 2–4% on prepaid/foreclosed amount, depending on terms.
Partial prepayments (min. 1 EMI) are allowed with no/low charges for floating-rate loans.
Check the loan offer for specific conditions.
What is the loan-to-value (LTV) ratio?
Home Loans: Up to 80–90% of the property’s market value (e.g., ₹80 lakh loan for a ₹1 crore property).
Loan Against Property: Up to 60–70% of the property’s value.
PMAY Loans: Higher LTV (up to 90%) due to subsidies.
LTV depends on property valuation by Tata Capital’s empaneled experts.

List of Mortgage Loans by Tata Capital Housing Finance

  • Home Loan
  • Loan Against Property (LAP)
  • Affordable Housing Loan (PMAY)
  • Balance Transfer Loan
  • Top-Up Loan
  • Home Loan Overdraft
  • NRI Home Loan