How to Foreclose Tata Capital Personal Loan?

Foreclosing a Tata Capital personal loan in India involves repaying the outstanding loan amount in one go before the completion of the loan tenure. If you wish to know how to foreclose Tata Capital personal loan online, follow the below steps:

• Log in to your

  Tata Capital loan account

  .

• Choose the Pre-Closure from the menu.

• Mention your loan account number and tap on Proceed.

• Get the exact outstanding amount, including any applicable interest, fees, and foreclosure charges.

• Select the preferred payment option and complete the outstanding payment.

• Finally, you will receive a confirmation mail and message regarding the successful foreclosure of your loan.

Alternatively, you can also visit the nearest Tata Capital branch and submit a written foreclosure request along with required documents. You can make the payment via cheque, demand draft, or online transfer.

You can also follow the method mentioned by Manav. After foreclosure, ensure that your credit report reflects the closure of the loan. It usually takes 30-45 days for credit bureaus to update this information.

Following these steps ensures a smooth and hassle-free Tata Capital personal loan foreclosure process in India. This is how to foreclose tata capital personal loan.

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Having made pre payment of my tata capital personal loan, I can guide you with the steps I followed on how to foreclose tata capital personal loan. You should know though, there is a penalty that you need to pay for the same. The penalty levied by Tata Capital is 4.5% of the principal outstanding amount. Here is all you need to know about the foreclosure of personal loan with Tata capital.

How To Foreclose Tata Capital Personal Loan Online

I personally didn’t find the online process to foreclose personal loan at Tata capital. However, this is how I proceeded.

1. Contact Customer Service:

I contacted Tata Capital's customer service. I contacted them on a phone call and dropped an  email to gain clarity on the required procedures, necessary documentation, and any specific details pertinent to my loan account.

2. Understanding Foreclosure Charges:

I learned that foreclosing a loan typically involves certain charges, and so I reached out to customer service to understand the foreclosure fees.

3. Documentation Required

Next, I inquire about the documentation necessary for the foreclosure process. I learned that I needed to have my loan account number, and statement. Having the right paperwork in order expedites the entire procedure.

4. Making Foreclosure Payment

Once I had a clear understanding of foreclosure charges and the required documentation, I proceeded to make the foreclosure payment. I simply paid the amount via cheque and that’s it.

You can follow the similar process now and understand how to foreclose tata capital personal loan. 

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