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Rural Individual Loan

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What are Rural Individual Loans?

Customers of Rural Individual Loans (RIL) are involved in an economic activity and generating surplus income to sustain their business and their family requirements. Such individuals typically comprise manufacturers, traders, wholesalers, retailers, service providers, contractors etc.

RIL aims to meet funding requirements of eligible customers to meet the needs of trade, commercial activities, other general business profession & working capital requirement of the existing business, for purchase of machines & equipment and to undertake repairs, renovation, extension of the existing business unit

Disclaimer: Rural Individual Loans are at the sole discretion of Tata Capital Limited (TCL). Terms and conditions apply.

Loan Amount offered

₹60,000 to ₹2,00,000

Loan Tenure

24 to 36 months

Interest rate starting @

25% to 27%

Processing Fees

2% + GST

Advantages of Rural Individual Loans

Access to quick funds

We serve small business owners and entrepreneurs in the underdeveloped parts of India for a sustainable livelihood and help low-income people in the underdeveloped parts of India

Collateral free loans

We offer unsecured loans wherein you can borrow money without any collateral

Quick processing

The turnaround time is quick in case of urgent requirement of loan

Promotes self-sufficiency and entrepreneurship

We help existing business owners and budding entrepreneurs to be self-reliant

Improved income

These loans help borrowers involved in an economic activity to get access to funding requirements for generating surplus income to sustain their business and their family needs.

Types of Rural Individual Loan

RIL aims to meet funding requirements of eligible customers who are typically manufacturers, traders, wholesalers, retailers, service providers, contractors etc. to meet the needs of trade, commercial activities, other general business profession & working capital requirement of the existing business, for purchase of machines & equipment and to undertake repairs, renovation, extension of the existing business unit

Key Features

Loan Amount: Rs. 60,000 to Rs. Rs. 2,00,000
Type of Loan: Unsecured Loan
Tenure: 24 to 36 months
Repayment Frequency: Monthly
Applicant: Any individual who is involved in an economic activity and generating surplus income to sustain his/her business and his/her family requirements
Co-Applicant: Co-Applicant can be Spouse, Son, Father or Father-in-law
Eligibility: You are eligible for RIL if you are an Indian National who is a self-employed professional or business owner, between the age of 18-60 years living in rural, semi-urban area of India.
Your eligibility also depends on your and your co-applicant’s credit history and business stability or continuity of minimum 3 years.

Rural Individual Loan Eligibility Criteria

Indian National

Self-employed professional or business owner

Age between 18-60 years

Business stability or continuity of minimum 3 years

Cash flow assessment

How do I apply for a Rural Individual Loan?

Visiting Our Branch

One of the ways to apply for a Rural Individual Loan is to visit one of our country-wide MFB branches and our representatives will walk you through the entire process.

Locate a Branch

Contact our Representative

Our representatives visit villages to familiarise themselves with the environment in which they will be working. They identify prospective clientele and explain the purpose and functions to them.

Request a call back

Call us

Applying for a Rural Individual Loan at Tata Capital is just a phone call away! Simply contact us at 1800 209 9809 and we will guide you through the process.

Request a call back

What are the Rural Individual Loan EMI options available?

Bi-Monthly

EMI is a fixed payment made by the borrower to a lender on a specified date, starting 14 days from the disbursement date. EMIs are applied to both the interest and principal components over the tenure of the loan.

Monthly

EMI is a fixed payment made by borrower to a lender on a specified date of each month.

Weekly

EMI is a fixed payment made by the borrower to a lender on a specified day of each week every month

6 reasons why you should choose us

With the customer’s individual desires and needs in mind, our team at Tata Capital guides you at every step and offers specific financial solutions

Tata Capital - A name you can trust

We keep your unique needs at the heart of what we do. Our team guides you at every step to offer customized financial solutions.

Attractive interest rates

Enjoy our competitive interest rates. We give you a tailored borrowing experience so you can repay at your own pace.

Fix anything that’s broken

Over the years, even the best amongst us end up suffering through a little wear and tear. Give wings to your dreams with RIL.

Minimal documentation requirements

We ask for minimal documentation for processing your loan application. Say goodbye to document hassles and long processing times.

Because you deserve the best opportunity

Why would you want to compromise on any opportunity that is coming on your way? Turn it on and make it happen, we are with you!

We’ve been around for a long time

This means we understand your needs and give you tailored solutions to help you meet them.

Rural Individual Loans

What are Rural Individual Loans?