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Consumer Durable Loan Interest Rates And Charges

The charges and rates applicable on Tata Capital’s consumer durable loans are extremely nominal, so borrowers suffer no financial burden when they opt for these product loans. In fact, Tata Capital’s consumer durable loan interest rates and charges are so negligible that they pale when compared to the utility of the products borrowers can purchase. A high-priced smartphone or a premium home appliance can conveniently be bought on easy EMIs with 0% EMI interest rates.

We offer 0% EMI on the majority of the Consumer Durable Loan. However, there is an advance EMI that we ask you to pay on the basis of your loan tenure along with a nominal processing fee. Processing fee is charged as part of processing your consumer durable loan request.

Fees and Charges

Availing of product loans involves several consumer durable loan charges. Explained below are some of the fees associated with Tata Capital’s loans.

Processing Fee

Between ₹0 - ₹10,000

Bounce Charges

These are charges that are levied in case the borrower’s cheque bounces due to technical reasons or because of insufficient funds, thereby halting the process of payment.

1st Presentation EMI Bounce Charges - ₹450, in addition to GST thereon.

2nd Presentation EMI Bounce Charges - NA

Mandate Registration Charge

NIL

Mandate Rejection Service Charge

₹450 in addition to GST for every Cheque dishonour/rejection of ECS

EMI Pickup/ Collection Charges

NIL

Arbitration Filing

₹2000

Notice

₹40 + GST

Legal Notice

₹75 + GST

Miscellaneous Charges

Statement of Accounts Charges

In case the borrower decides to walk into the nearest branch to obtain hard copies of their loan statements, a charge of ₹250 + GST shall be levied. Soft copies from the portal can be obtained free of charge.

Foreclosure/Prepayment Charges

NIL

Foreclosure Charges for Top-Ups

NIL

Loan Cancellation & Rebooking Charges

NIL

Duplicate Repayment Schedule

NIL

Duplicate NOC Issuance Charges

NIL

Late Payment Charges

3% on overdue amount per month

Instrument Swap Charges

₹550 + GST

Document Retrieval Charges (per retrieval)

NIL

EBC & Push Card Replacement Fee

NA

EBC & Push Card Annual Fee

NA

Legal Charges (Sec 138 and Sec 25)

₹1200

Receiver Order District Court

NA

Receiver Order High Court

NA

Demand Notice/Loan Recall Notice

₹40

Execution of Award

₹2000

Disclaimer

  • The fees/charges indicated above are subject to revision at Tata Capital’s discretion from time to time.
  • For the definitions of the above charges, please refer to the Master Terms & Conditions sheet.
  • Soft copies of documents mentioned in the table above will be provided free of cost. For hard copies, please refer to the above table for the applicable fees & charges.
FAQ

Tata Capital does not charge any fees as cancelation charges on a consumer durable loan. So, you can cancel the loan at any point without any additional financial burden.

If you fail to pay your EMIs within the due date, charges for late payment shall be levied at the rate of 3% on the amount outstanding each month.

If you wish to exchange or swap your consumer durable loan liability or the cash flow with a different financial instrument, you can do so, but you will be charged an additional fee known as instrument swap charges.

 

Tata Capital’s consumer durable loan includes instrument swap charges fixed at ₹550, in addition to GST thereon.

Yes, you can close your consumer durable loan without any additional fees or penalty charges before completing the entire loan tenure.

To subscribe to our EMI Card, applicants are required to pay a one-time fixed fee of ₹299, in addition to GST thereon.

In order to process your application, we charge a processing fee which depends on the product you’ve purchased. Typically, the processing fees range from a minimum amount of ₹0 to a maximum amount of ₹10,000. 

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WHY CHOOSE US

CUSTOMIZED PRODUCTS
MINIMUM DOCUMENTATION
EASY APPLICATION PROCESS
STRONG AFTER SALES SERVICE