Introduction
Financial needs can arise unexpectedly, whether it’s for funding a dream vacation, renovating your home, or managing medical expenses. At such times, a personal loan can be a lifesaver, providing quick access to the funds you need. And what better way to apply for a personal loan than through the convenience of your smartphone? Tata Capital’s flexible and tailored Personal Loan. With attractive interest rates and easy eligibility criteria, Tata Capital makes it convenient for you to finance all your requirements with different types of loans. The best part is that the entire application process can be done online through the Tata Capital app.
In this article, we will walk you through the step-by-step process of applying for a personal loan on the Tata Capital app.
Step 1. Download and install the Tata Capital App
The first step to applying for a personal loan online on the Tata Capital app is to download and install the app on your smartphone. The personal loan app is available for both Android and iOS devices. Simply visit the Google Play Store or Apple App Store, search for “Tata Capital”, and click on the “Install” button. Once the installation is complete, open the app and proceed to the next step.
Step 2. Register/login to Your Account
If you are a new user, click on the “Register” button to create an account. Fill in your personal details, such as name, email address, and mobile number, and create a password. After successfully registering, log in using your credentials.
For existing users, simply log in to your account by entering your registered mobile number/email address and password.
Step 3. Select “Personal Loan” from the menu
Once you are logged in, navigate to the menu section of the Tata Capital app. From the menu options, select “Personal Loan” to proceed with your loan application.
Step 4. Provide Your Personal and Financial Details
To apply for an instant personal loan on the online loan app, you will need to provide your personal and financial details. This includes your name, date of birth, address, employment details, income details, and any existing liabilities.
Make sure to double-check the information you provide to ensure accuracy. Any incorrect or misleading information may lead to delays in the approval process.
Step 5. Choose Loan Amount and Tenure
After providing your personal and financial details, you will be prompted to choose the loan amount and tenure. The loan amount refers to the total amount of money you wish to borrow, while the tenure is the duration over which you plan to repay the loan.
Consider your repayment capacity and select an amount and tenure that best suits your financial situation.
You can use the Tata Capital EMI Calculator available on their website or app to get an estimate of your monthly EMIs based on different loan amounts and tenures.
Step 6. Upload Required Documents
Next, you will be required to upload certain documents as proof of identity, address, income, and employment. The specific documents may vary depending on your profile and Tata Capital’s internal policies. However, some common documents include:
- Proof of Identity: Aadhaar card, PAN card, passport
- Proof of Address: Aadhaar card, utility bill (electricity bill/telephone bill), rent agreement
- Proof of Income: Salary slips for salaried individuals or income tax returns for self-employed individuals
- Employment Proof: Offer letter or appointment letter from current employer
Ensure that you have scanned copies or clear photographs of these documents readily available before starting the application process.
Step 7. Review and Submit Your Application
Once you have provided all the necessary details and uploaded the required documents, take a moment to review your application thoroughly. Check for any errors or missing information. It’s essential to ensure that all the information provided is accurate and up to date.
After reviewing your application, click on the “Submit” button to finalise and submit your loan application.
Step 8. Track Your Application Status
After submitting your loan application, you can track its status in real-time through the personal loan app. You will receive regular updates on the progress of your application, ensuring transparency throughout the approval process.
If required, Tata Capital’s representatives may get in touch with you for any additional information or documents.
Once your loan application is approved, you will receive a confirmation from Tata Capital. The loan amount will be disbursed directly to your bank account within a few working days.
It’s important to note that loan approval and disbursal are subject to meeting Tata Capital’s eligibility criteria and credit assessment processes.
Summing up
Applying for a personal loan online has never been easier with the Tata Capital app. By following these simple steps, you can complete the entire application process conveniently from the comfort of your home.
With quick approval, attractive interest rates, and transparent communication throughout the process, Tata Capital ensures a hassle-free experience.
07 August 2024
5 mins read
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