TATA Capital Personal Loan EMI Calculator

TATA Capital can give you personal loans of Up to Rs. 35 lakhs and for up to a period of 6 years. They can also get you quick access to loans and easy processing that are customized to each personal loan. 

TATA Capital can also give you easy EMI options to repay the loan. If you want to know what your EMI would be if you applied for a personal loan in TATA Capital, you can use the TATA Capital personal loan EMI calculator for free.

What is the TATA Capital Personal Loan EMI Calculator?

The TATA Capital personal loan EMI calculator is an online tool that anyone can use to know what their prospective EMIs are based on the amount that they want. This calculator is a tool that can only be used online, and therefore it uses a standard formula.

This formula will eliminate the need for manual calculations of the EMI amounts or the errors that come along with it.

The calculator can only be used online, but it can be used as many times as wanted. The calculator will also show you the amount of interest that will be charged on your personal loan from TATA Capital.

How to Use the TATA Capital Personal Loan Interest Rate Calculator?

Using the TATA Capital personal loan calculator is simple and easy, and everything that you would have to do is follow the three simple steps that have been explained below:

Step 1: You will have to enter the principal amount of the personal loan that you want.

Step 2: You will then have to provide the interest that is charged by TATA Capital over your personal loan.

Step 3: Lastly, provide your tenure for the repayment of the personal loan.

Now, instantly you will see the EMI amount of the personal loan that you want to take from TATA Capital.

What are the Benefits of Using the TATA Capital Personal Loan Calculator?

There are several robust benefits of using TATA Capital, and some of the most important points that you need to know are as follows:

1. You will not have to do any manual calculations before you borrow a loan from TATA Capital.
2. You would know if TATA Capital is the right choice for you and if you can afford the interest of this personal loan.
3. You can plan each month according to your EMIs of the personal loan.
4. There will be no need to face the matter or errors that usually come with manual calculations.
5. You can easily compare different values for the personal loan.

How Does the TATA Capital Loan Calculator Work?

The TATA Capital personal loan calculator uses a standard formula that gives you the most accurate results, and the formula is:

EMI = [ P x R x (1+R) ^ N ]/[(1+R)^N-1]

This expanded formula stands for:

P - A Principal Amount

N - The Tenure of the Loan

R - The Interest Rate of the Personal Loan

This formula can also be explained through an example of a personal loan from TATA Capital, which is mentioned below.

Mrs Rachel wants to borrow a loan of Rs. 4.1 lakh from TATA Capital on July 2022. She borrows the loan for a period of 5 years and an interest rate of 14%. Therefore the details of her loan are as follows:

Principal Amount = Rs. 4.1 lakhs

Tenure = 5 Years

Interest Rate = 14%

EMI = Rs. 9,540

Amortization Table of the Personal Loan from TATA Capital

Based on the example that has been explained above, this is how the repayment of the loan will be: