Tata Capital Education Loan
Tata

Get Free Education Loan Assistance From GyanDhan

Tata Capital Education Loan

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Interest Rate

Starting from NA
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Processing Fees

1% + GST
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Margin Money

Nil
Check Loan Eligibility
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How it Works

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Simple FIVE step digital process to get a education loan

Check Your Loan Eligibility

Use our free tool to verify your eligibility and receive conditional loan offers.

1

Talk To Our Loan Experts

Connect with our dedicated loan counselor for a better understanding of the process.

2

Upload Documents and Fill Out the Form

Submit your documents or complete the necessary forms for bank verification and evaluation.

3

Negotiate For Your Best Loan Offer

GyanDhan expert's negotiate to secure the most competitive interest rates and the highest possible loan amount for you.

4

Get Loan Approval and Disbursement

Recieve your final approval and sanction letter, ensuring prompt fund disbursement from the lender

5
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Tata Capital Bank Education Loan for Abroad Studies

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All you need to know about Tata Capital bank education loan for studying abroad

Rohit Gidwani
Rohit Gidwani

Study Abroad Expert

Fact checked
Updated on:  09 Dec 2024 | 
Reviewed By:  Aman  
| 485 | 9  min read

Tata Capital, a subsidiary of Tata Sons Limited, was founded in 2007 as the financial services branch of the Tata Group. It operates as a holding company for Tata Capital Financial Services Limited (TCFSL), Tata Securities Limited, and Tata Capital Housing Finance Limited. Headquartered in Mumbai, Tata Capital Limited is a provider of financial and investment services in India, with a network of over 100 branches nationwide. The company offers a range of services including consumer loans, wealth management, commercial finance, and infrastructure finance. As a Non-Banking Financial Company (NBFC), Tata Capital is a solid choice for obtaining an unsecured education loan. It's worth noting that Tata Capital currently does not offer secured loan options. They offer loans only for STEM and Management programs. 

Features of Tata Capital Education Loan for Abroad 

Feature Details

Loan Amount

US Universities:

  • list items
    Up to 75 Lakh - Platinum Category*
  • list items
    Up to 55 Lakh - Gold Category
 

Non-US Universities:

  • list items
    Up to 40 Lakh - Platinum Category
  • list items
    Up to 30 Lakh - Gold Category

Interest Rate

11.50% - 12.75%

Loan Tenure

Up to 13 Years

Processing Fee

1% + GST

Repayment During Moratorium

PSI / SI / EMI

Minimum Co-Applicant Income

₹25,000 and above

Insurance

Upto 2% of the Loan amount

 

Important Points:

  • list items Tata Capital can offer non-collateral loans for aviation courses with immediate EMI options up to 50 Lakh.
  • list items Undergraduate courses may also eligible for loans up to 50 lakhs with immediate EMI options.
  • list items For GRE scores above 315 or GMAT scores above 650, loans are provided based on Platinum category criteria, regardless of the university list. 
  • list items For GRE scores between 300-315 or GMAT scores between 600-650, loans are offered based on Gold category criteria, regardless of the university list. 
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Eligibility for Tata Capital Education Loan for Abroad

To qualify for an education loan, the following eligibility criteria must be met:

  • list items Fixed Obligation to Income Ratio (FOIR) for Financial Co-Applicant: Must be at least 65%.
  • list items Age of Financial Co-Applicant: Must be 60 years or below for salaried individuals, and 65 years or below for self-employed individuals.
  • list items Relationship of Financial Co-Applicant: The co-applicant must be a blood relative.
  • list items Age of Applicant: Must be between 18 and 35 years.
  • list items Credit Score: A CIBIL score of 700+ is required, though exceptions may be made based on the application profile.
  • list items Academic Performance: A minimum of 60% in the last degree or course (10th, 12th, or graduation).
  • list items Indian Citizenship: The applicant must be an Indian national.
  • list items Admission Confirmation: Proof of admission to a recognized educational institution is required.

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Documents Required for Tata Capital Education Loan for Abroad

Gathering the necessary documentation is a crucial step in securing a Tata Capital education loan, as it ensures a comprehensive assessment of your loan application. This involves compiling a complete set of documents for both the applicant (student) and the co-applicant (usually a parent or guardian) to verify their identity, academic qualifications, financial stability, and other relevant details. Below is a simplified table outlining the typical documents required for both parties.

 

Applicant's Documents:
  • list items Identity Proof: PAN card, Passport, Driver’s License, Voter ID card, or any government-issued identification document.
  • list items Education Loan Application Form
  • list items Address Proof: Recent copy of telephone bill, electricity bill, water bill, piped gas bill, driving license, or Aadhaar card.
  • list items Past Academic Records:
  • list items
    10th standard mark sheet
  • list items
    12th standard mark sheet
  • list items
    Undergraduate results (semester-wise)
  • list items Entrance Exam Results: e.g., GMAT, GRE, TOEFL, etc.
  • list items Proof of Admission: Admission letter (conditional admission letter is also acceptable).
  • list items Statement of Expenses

 

Co-Applicant's Documents:

  • list items Identity Proof: PAN card, Passport, Driver’s License, Voter ID card, or any government-issued identification document.
  • list items Address Proof: Recent copy of telephone bill, electricity bill, water bill, piped gas bill, driving license, or Aadhaar card.
  • list items Bank Account Statement: Last 6 months' statement (in case of education loan takeover).

 

Income Proof for Salaried Co-Applicant/Guarantor:

  • list items Salary Slips: Last 3 months.
  • list items Form 16: Copies from the last 2 years.
  • list items Bank Account Statement: Last 6 months (salary account).
  • list items Statement of Assets & Liabilities: Brief statement from the parent/guardian/other co-borrower.

 

Income Proof for Self-Employed Co-Applicant/Guarantor:

  • list items Business Address Proof
  • list items IT Returns: Last 2 years (if IT payee).
  • list items TDS Certificate: Form 16A, if applicable.
  • list items Certificate of Qualification: For professionals (e.g., C.A., Doctor).
  • list items Statement of Assets & Liabilities: Brief statement from the parent/guardian/other co-borrower.
  • list items Bank Account Statement: Last 6 months.

 

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Benefits of Getting a Tata Capital Education Loan Via GyanDhan

Securing an education loan for studying abroad can be made easier and more convenient through GyanDhan's partnership with Tata Capital. By collaborating with GyanDhan, you can take advantage of several benefits that enhance your loan application experience.

 

Higher Approval Rates:

GyanDhan improves your chances of loan approval by guiding you through the loan process and eligibility criteria. They submit your application to Tata Capital only after confirming your eligibility, thereby increasing the likelihood of approval.

 

Customized Document Checklist:

GyanDhan provides personalized document checklists based on your profile, ensuring you have all the necessary documents and alternatives. This helps you thoroughly understand the requirements for your loan application.

 

Transparent Process:

GyanDhan takes full responsibility for getting your loan sanctioned after you submit your documents. They follow up with the bank to ensure a swift and smooth application process.

 

Free Assistance:

GyanDhan offers a dedicated Education Loan Counselor (ELC) at no cost to guide you through the loan process once your eligibility is confirmed.

 

Best Loan Guarantee:

GyanDhan is committed to securing the most competitive education loan for you. If you find a better offer elsewhere, they will compensate for the difference in interest rates over the entire duration of your education loan.

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How to Apply for an Education Loan via GyanDhan?

The process of starting a loan application with Tata Capital is straightforward. Follow these steps:

 

Check Eligibility:

Visit the GyanDhan website or use their loan eligibility form to see if you qualify for a Tata Capital education loan for studying abroad. This assessment will consider factors such as your academic qualifications, admission to a recognized institution abroad, and creditworthiness.

 

Loan Application Processing:

An Education Loan Counselor (ELC) from GyanDhan will guide you through the loan process and provide a customized document checklist based on your profile. After you submit your application, Tata Capital will process your loan request using the required documents.

 

Documentation Submission & Verification:

Gather and submit all necessary documents from the checklist, including academic and income records. Ensure that all documents are accurate and meet Tata Capital's requirements. The bank will then verify your application, conducting credit checks, and reviewing admission details, financials, and other pertinent information.

 

Loan Approval & Disbursal:

Once the verification is complete, you will receive a loan approval notification with the approved amount. If you are satisfied with the terms, you can sign the agreement to finalize the process and have the required funds disbursed.

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Frequently Asked Questions

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What are the eligibility criteria for a Tata Capital abroad education loan?

To be eligible for a Tata Capital abroad education loan, the applicant must be an Indian national between the ages of 18 and 35, with a co-applicant who is a blood relative. The co-applicant should have a Fixed Obligation to Income Ratio (FOIR) of at least 65%. A CIBIL score of 700+ is preferred, and the applicant must have a minimum of 60% in their last academic degree.

What documents are required to apply for a Tata Capital education loan?

The required documents include identity proof (such as PAN card, passport, or voter ID), address proof (such as utility bills or Aadhaar card), past academic records, entrance exam results (like GMAT, GRE, TOEFL), proof of admission, and a statement of expenses. Co-applicant documents include identity proof, address proof, and financial documents like bank statements and income proof.

What is the interest rate for a Tata Capital education loan for studying abroad?

The interest rates for Tata Capital education loans vary based on the applicant's profile and the co-applicant's financial status. It is best to check the latest rates directly on the Tata Capital website or consult with a GyanDhan Education Loan Counselor for personalized rates and offers.

How long does it take for Tata Capital to process an education loan application?

The processing time for a Tata Capital education loan can vary. Generally, it takes around 7 - 10 from the submission of all required documents to the disbursal of the loan amount. The exact time frame can depend on the completeness of the documentation and the verification process.

Can I get an unsecured education loan from Tata Capital?

Yes, Tata Capital offers unsecured education loans for studying abroad. These loans do not require collateral, but the eligibility and approval depend on the applicant’s and co-applicant’s financial profiles, credit scores, and other criteria set by Tata Capital.

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