Tata Finance Limited

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An emerging market like India desires for fiscal resources to assist its expansion. It has been observed that the conventional economic sector is not extensively available to the purchasers, thus formulating a requirement for financial institutions to cater to the needs of specific sectors. The automobile sector of India has witnessed the issue of locating the perfect funding for its patrons. These aspects along with recurring character of the auto sector, has persuaded automobile firms to consider financing assistance of its parent firms which would entirely subsidize the parent goods and also play a pivotal role of a medium in specific sectors areas for endorsing the products.

About Tata Finance Limited


Tata Finance Limited, the auto financing division of Tata Industries Limited., was initiated in 1984. Later in April 1, 2005 Tata Finance was combined with Tata Motors in an attempt to strengthen its business strategies by combining its unswerving industry model with the seller oriented trade of the Bureau of Hire Purchase and Credits (BHPC), a segment of Tata Motors.

Auto Loans offered by Tata Finance Limited



Loans for Passenger Vehicles

(a) Passenger Car Loans

Eligibility criteria for Salaried Individuals

  • The applicant should be 21 years of age
  • The applicant should attain the maximum age of 60 years at the maturity of loan
  • The applicant should meet the minimum service criteria of 1 year from the joining date.

Eligibility criteria for Self Employed

  • The applicant should attain the maximum age of 70 years at the maturity of loan
  • The applicant should meet the minimum business criteria of 2 year from its commencement.
  • The applicant should be 21 years of age

Eligibility criteria for Partnership Firms

  • Identity proof in the form of Shop & Establishment Act certificate, Sale tax registration documentation, Partnership legal document, etc
  • Income proof in the form of Profit & loss Account, IT returns and reviewed balance sheet
  • Address Proof in the form of certificates accumulated against identity proof indicating the present address of the organization

(b) Top Up Loans

The scheme provides loan against the claim of the present vehicle at an affordable rate of interest. It assists in encashing the capital fixed in the property without having to setting it off to subsidize different requirements associated to acquiring of New Tyres/Vehicle, renovating of Vehicles/Engines and Business Needs etc.

The utmost loan amount can go upto 80% of the market cost of the vehicle and is entitled to the existing loan criteria.

Eligibility for Top Up Loans

  • Any person / Partnership organization/ corporation with 2 years or more experience in business
  • Financial support can be extended to First Time User, service providers and Captive customers.

(c) Used Vehicles Finance

Attributes & Advantages of Used Vehicles Finance:

  • Loan up to 85% of the cost of the automobile
  • Flexible reimbursement alternatives, varying from 12 to 48 months
  • Loan up to 3 times your yearly income (applicable for salaried customer) and 6 times your yearly income (applicable for self employed customer)
  • Reasonable rate of interest
  • Reimbursement with uncomplicated EMIs

(d) Loan Takeover

This scheme incorporates capturing the current towering cost loans at cutthroat conditions leading to in enormous savings.

Conditions under Loan Takeover scheme:

  • All rules and regulations pertinent for TMF utilized car are valid for the Loan take over scheme.
  • Minimum 1 year old loan along with a grant certificate by the merchant banker with clear refund track confirmation

(e)Refinancing

Tata Finance Limited provides a range of refinance scheme to meet individual requirements. It is applicable for automobiles from 0-8 years for a borrowing tenure of 1 to 2 years. Refinancing scheme offers benefits of speedy loan disbursals, attractive rate of interests and non-rigid guidelines.

Refinancing can be availed by Salaried Individuals, Self employed individual and Partnership firms on the reproduction of certain written evidences and age criteria.

(f) Commercial Vehicle Loans

Criteria for Commercial Vehicle Loans

  • Any person / Partnership organization/ corporation with 2 years or more experience in business
  • Financial support can be extended to First Time User, service providers and Captive customers.
  • Certificates of Identity, address and business proof in the form of PAN Card, House Tax Challan, Telephone Bill, etc.

(g) Construction Equipment Finance

This scheme provide loan for new equipment for road manufacturing, Mining and Infrastructure plans; for utilized apparatus and for in use Lease,

Criteria for Construction Equipment Finance:

  • Any person / Partnership organization/ corporation with 2 years or more experience in business
  • Financial support can be extended to First Time User, service providers and Captive customers.

Last Updated on 26 june 2011