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Tata Capital Personal Loan is provided without asking any security as collateral and with no guarantor. Furthermore, there are very fewer documents that are needed to be provided while applying for loan.
Tata Capital Loan provides various options that will enable yourself to structure repayments related to your loan. Added to this, Flexi EMI’s help you to choose a plan related to repayment and which can be tailored as per your flows related to cash.
Procedure for closing Tata Capital Personal Loan
You can prepay your loan that is outstanding after the payment of at least 6 instalments or after 180 days from the date of loan disbursement and you should visit Tata Capital Branch.
For Closing Tata Capital Personal Loan the documents you require:
- You must provide bank statement that reflects the Last EMI paid by you
- The letter related to the closure of our loan with the loan applicant’s signature.
- You have to collect the statement related to Prepayment from Tata Capital.
- Through cash, demand draft or cheque you can make the payments.
- For personal loan closure due to some reasons, if you are not able to personally go to Tata Capital branch you can send somebody by providing your identity proof that includes Driving License, Passport, Aadhar card etc. and a letter of authorization from you.
Important points to be taken care of while making your Tata Capital Prepayment of Personal Loan
- The borrower needs to visit Tata Capital Personal Loan department to avail prepayment facility for personal loan.
- If you are doing cash payment and if the amount is more than Rs.50000 you must carry your PAN CARD.
- You can foreclose your loan either by demand draft, cash or cheque as per your accessibility.
Sample Letter 1 for Closing a Tata Capital Personal Loan
The Bank Manager
Tata Capital Branch address
Sub: Request for closure of my Personal Loan
I am (Your Name).bearing personal account with an A/C NO: ……………………I need to close this loan account and I request you to kindly close my personal loan account at the earliest.
After the account is closed, please send me a letter acknowledging that the loan has been closed.
Sample Letter 2 for closing A Tata Capital Personal Loan
Complete address of the Branch (From where you have applied and taken the loan)
Subject – Closure of Tata Capital Loan
I am (Your name) bearing Personal Loan# of Tata Capital Personal Loan and I want to close my Loan at the earliest. After closing my account online or offline I request you to kindly send me the documents and acknowledgement that I had provided to the Tata Capital in getting approval for my Personal Loan. Furthermore, I request you to send me NOC (No Object Certificate) after my successful Personal Loan closure.
Following are my contact details.
Your Full Name
Your email Id
Your Phone Number
Thanking you for your kind help and guidance.
If you are ready to pre-pay the complete amount prior to the loan tenure and gain an advantage of paying less interest all you have to do is just sign up to Creditseva as its Credit advisory services help you to close your personal loan in a simple and easy way.
Tata Capital Personal Loan Closure FAQ’s:
1. Do we need to write a Letter for Closing Personal Loan?
It would be always better if you write a letter regarding closing your Personal Loan and the Sample letter looks like follows.
2. For a personal loan issued by Tata Capital when is the foreclosure statement issued?
After 180 days from the date related to loan disbursement, the foreclosure statement for personal loan is issued by Tata Capital is issued.
3. What includes in the Foreclosure statement of a Loan Closure Account?
A Foreclosure Statement includes the outstanding dues for the account related to loan closure.
4. When will I receive statement related to Foreclosure?
From the date you requested it, the statement related to foreclosure is sent to you via email in a span of 3 days.
5. What are the charges related to prepayment that Tata Capital levies on Personal Loans?
Tata Capital charges 2% for pre-payment of personal loans.
6. When and how will I get my cheque that is unused back from Tata Capital?
When your personal loan account is going to get closed, you will get back your unused cheques from Tata Capital, in a period of one month.
7. While your request for foreclosure statement, what are the details that you need to fill?
Following are the details that you need to provide when you are requesting for a foreclosure.
- Your Contact number
- Foreclosing loan reason
- E-mail id
- Loan Account number
8. Why should you collect NOC after closing your loan?
Collecting NOC reflects that you have cleared all the dues pending and you will get credit score points based on your successful closure of your account.
9. How to prepay your Tata Capital Personal Loan?
One of the interesting benefits of taking personal loan is that when you decide to pay it off, you don’t have to wait until the end of the tenure related to loan. After 180 days from the date of loan disbursement, you can pay off the full amount that is outstanding on your personal loan.
10. When can you avail the option related to Part Pre-payment?
After six months that is from the date of disbursal related to loan part payment is allowed and that too with no charges. Tata Capital offers flexible and convenient repayment options that enable you to choose the best way to repay your loan.
Generally, personal loans are taken at the time of emergency and when you not able arrange cash and when your purpose is served you can use your available or balance funds for prepayment or clearing entire loan completely. Tata capital allows complete or part-payment of your loan that is outstanding after 180 days from the disbursement of the personal loan. Within a year maximum, 25% part payment is permissible at zero charges.
Part repayment option helps in reducing the loan amount that is outstanding and which helps in reducing the amount related to interest. So there is an innovative option that will enable you to increase the possibility of repaying faster without any disturbance or change in your EMI.
Personal Loan Closure By Banks
- How to Close Personal Loan
- Axis Bank Personal Loan Closure
- Andhra Bank Personal Loan Closure
- HDFC Bank Personal Loan Closure
- ICICI Bank Personal Loan Closure
- SBI Personal Loan Closure
- Citibank Personal Loan Closure
- Bank of Baroda Personal Loan Closure
- Capital First Personal Loan Closure
- Allahabad Bank Personal Loan Closure
- Fullerton Personal Loan Closure
- IDBI Bank Personal Loan Closure
- IndusInd Bank Personal Loan Closure
- Standard Chartered Bank Personal Loan Closure
- Tata Capital Personal Loan Closure
- Union Bank Personal Loan Closure
- Bajaj Finserv Personal Loan Closure
- Kotak Bank Personal Loan Closure
- Yes Bank Personal Loan Closure
- SBH Personal Loan Closure
- HSBC Personal Loan Closure
- Oriental Bank Personal Loan Closure
- RBL Bank Personal Loan Closure
- PNB Personal Loan Closure
- J&K Bank Personal Loan Closure
- IOB Personal Loan Closure
- Karur Vysya Bank Personal Loan Closure