Need cash! Be it for Holiday, Education, marriage etc. Fulfill your need with 'Encash - Money on call' on your Tata Card

 Features:

- Pre-approved

- No documentation

- No post-dated cheques

- Cheque delivery within 7 working days

- Flexible repayment tenure of 12, 24 & 36 months

 Benefits

- Low rate of interest.

- Cheque / draft in your name.

- Encash amount provided over & above the credit limit or within the existing credit limit.

 How to Book Encash

- Call 6000 8000 or 1800 180 8282 (if calling from BSNL/ MTNL lines)

- SMS Encash to 56767

- To check eligibility & book Encash online click here

 Fees & Charges:

- A Flat interest rate per annum as communicated in offer is applicable.

- A one time processing fee will be charged at the rate of 2% subject to a minimum of Rs.499 & maximum of Rs.1950.

- In case you wish to foreclose your Encash Plan, a 3% foreclosure fee will be levied on the outstanding principal amount

1.       This Encash Offer ('Offer') is open to only those TATA Cardholders who have received this Offer from SBI Cards & Payment Services Pvt. Ltd ('SBICPSL').  

2.       This Offer carries a rate of interest applicable on the offered principal amount. Processing fee will be charged at the rate of 2% of the principal amount subject to a minimum of Rs.499 and a maximum of Rs.1,950.

3.       This Offer is subject to a limit on the maximum amount as contained and communicated by way of the mailer.  

4.       TATA Cardholders are being offered the option of availing the benefits under this Offer by requesting for a Demand Draft or a Cheque. SBICPSL shall issue either of these two monetary instruments as per its sole discretion. This Offer is subject to a minimum request for an amount of Rs. 10,000/-.  

5.       Cardholder will be offered Encash as communicated through mailer, SMS or on telephonic call, either over & above the credit limit or from the existing credit limit on the TATA card. The same is at the sole discretion of SBI Cards & Payment Services Pvt Ltd. 

 6.       In all events when an Encash is offered over and above the credit limit, the maximum amount which may be offered shall be as communicated by way of Mailer, SMS or Telephonic call.  

7.       In all events when an Encash is offered from the credit limit, the amount offered will be part of the existing credit limit and the credit limit shall be blocked upto Principal availed + Interest component. On payment of the monthly repayment amount the Credit limit to the extent of monthly repayment amount will be credited back to the existing credit limit. It is clarified that the maximum amount offered will be subject to the available credit limit on the Card at the time of availing the Offer.  

8.       The TATA Credit Cardholder can take multiple Offers subject to available credit limit on the TATA Card account. Multiple offers will be extended at the sole discretion of TATA card. 

9.       The monthly repayment amount is calculated as (Principal Amount + Interest charge) / Tenure in months.  Example: Principal amount is Rs.50,000, Interest rate is 10% p.a. and Tenure is 24 months. The total interest charge will be (Rs.50,000 * 10% * 24/12) = Rs.10,000. The Monthly repayment amount is calculated as (Rs.50,000 + Rs.10,000)/24. 

10.    At any given month the portion of the monthly repayment amount applied towards interest is determined by multiplying the reducing interest rate with the principal outstanding after the deduction of the previous month repayment amount. In other words, the reducing rate of interest is the rate which when charged brings the outstanding principal to zero at the end of the tenor, where the interest charged is calculated on a reducing principal balance. Illustrative example of amortisation scheduled given in point No. 26. 

11.    The monthly repayment schedule will begin from the TATA Cardholder next billing statement and continue over the tenure period chosen for the Offer. 

12.    The Minimum Amount Due (MAD) will be 5% of the TATA Cardholders existing revolving balances (Retail/Cash/Balance Transfer) and the monthly repayment amount due under offer (or all monthly repayment amounts due in case of multiple Offers). 

13.    Non Payment of MAD will attract normal late payment fees and a maximum credit charge of 3.35%p.m. on the unpaid monthly repayment amounts.

14.    Under Payment of MAD will attract normal late payment fees and a maximum credit charge of 3.35%p.m. on the unpaid monthly repayment amounts. 

15.    The Offer will be cancelled/terminated when the TATA Card becomes delinquent or blocked before all the repayment amounts have been charged. The Card Holder will be charged a maximum credit charge of 3.35% p.m. on the unpaid repayment amount + outstanding principal. 

16.    The TATA Cardholder is supposed to pay the MAD in full to avoid getting delinquent. 

17.    The TATA cardholder shall be levied a foreclosure fee amounting to 3% of the Principal amount outstanding in case of the Encash offer being voluntarily pre-closed by the customer prior to the maturity of the tenure period opted for. The principle outstanding is calculated basis reducing interest rate as shown in the amortisation scheduled sent along with Encash Cheque/ Draft.

18.    In the event, a cardholder puts a cancellation request, within 45 days of Encash facility getting booked then all fees charged will be reversed. Notwithstanding above it is clarified that the applicable charges will not be reversed once a Cheque or a draft issued to the cardholder has been cleared and resulted in a clear credit to the cardholder account. Also in all cases of cancellations post 45 days, the fees charged will not be reversible and the same shall be charged to the cardholder. 

19.    No request for change in billing cycle will be entertained before all the Offers / repayment amounts have been cleared by the TATA Cardholder. 

20.    Transfer from this Offer to any other offer will not be entertained. SBICPSL reserves its absolute right at any time to add, alter, modify or change or vary terms and conditions herein. 

21.    TATA Cardholders are not bound in any way to participate in this Offer. Any such participation is voluntary. 

22.    Government Service Tax shall be levied on all fees, interest component of the repayment amount etc. as applicable. 

23.    All and any disputes or differences arising from the Offer shall be subject to arbitration within the meaning of the Indian Arbitration and Conciliation Act, 1996. A sole arbitrator appointed by SBICPSL for this purpose shall carry out arbitration of all such disputes and/or differences. The award of the arbitrator shall be final and binding on the disputing parties. The place of arbitration shall be New Delhi and the language of arbitration shall be English. 

24.    Booking the Offer on phone will be deemed as acceptance of the terms and conditions of this Offer. 

25.    No request from Add-on being additional TATA Cardholder other than primary Cardholder will be entertained for booking of Offer or availing benefits under this offer. 

26.    Illustrative example of amortisation schedule: