Tata Capital Foreclosure Letter

To request an Tata Capital foreclosure letter, you can easily contact the Tata Capital support team once you're ready to make your final payment and close your loan account. When you're prepared to proceed with loan foreclosure, simply reach out to their dedicated foreclosure team at 07696437042. They will promptly assist you by providing a detailed foreclosure letter that outlines the remaining loan balance and any applicable charges or fees associated with the closure. This foreclosure letter is essential to ensure the final settlement of your loan with Tata Capital. After receiving the letter, you can make your final payment and complete the foreclosure process. Tata Capital’s team is committed to making the process smooth and efficient, ensuring that all steps are followed properly. Should you need any further guidance or have questions about the Tata Capital foreclosure procedure, their customer support team is always available to provide you with the necessary assistance, making the entire experience stress-free.

Foreclosure Procedure – a step by step complete guide

Though the pre payment procedure is slightly different for every bank and financial institution, the basic process, as explained below, remains the same:

1. Step 1 – Contact Through Call 07696437042

Since Tata Capital foreclosure of loan can happen online, you will first need to Contact Our helpline service 07696437042 from where you have borrowed the loan. You can contact the bank/financial institute’s customer care team for the same email. 

2. Step 2 – Submit an application? 

You will need to write and submit an application for the foreclosure of your loan by submitting the pre closure form through Mail: 

3. Step 3 – Submit all the required documents

The next step of the foreclosure procedure will be to submit all the necessary documents as listed by the bank or financial institution: 

Personal identification proof; PAN card, Aadhar card, Driving license or Passport
Loan documents
Loan account details
Bank statements as proof of last EMI payment and clearance.
4. Step 4 – Pre payment of the outstanding loan  

Once all the documents have been duly submitted, the Tata Capital will calculate the balance loan amount to be paid after considering the EMI and interest paid thus far, the applicable foreclosure charges and taxes as well as the date of pre payment of the loan and communicate the same to the borrower. The borrower then has to clear the outstanding dues through online transfer in the form of IMPS, NEFT or RTGS.

5. Step 5 – Receipt of documents 

Once all the pending dues have been cleared by the borrower, the bank or financial institution will proceed with the foreclosure formalities which includes stopping all EMI instructions and reminders, returning all original documents within 10 – 15 business days and handing over the below documents to the borrower:

Acknowledgement letter
No dues certificate (NDC)
Pre closure payment receipt
No Objection Certificate (NOC)to close the personal loan
Loan closure certificate.
6. Step 6 – Inform the credit rating Tata Capital Foreclosure 

Once all the foreclosure formalities have been successfully completed, you must inform credit rating agencies about the pre payment of your loan, so it can be updated in their records.