Description

For various personal expenditures like travelling to destinations, planning a wedding, medical emergencies, home renovation, higher studies etc. arranging for funds becomes difficult with the regular paycheck. To finance the requirements of such needs, Tata Capital personal loans offer personal loans at affordable interest rates.

Personal loan EMI Calculator

Looking for some quick-fix to do the maths and crunch numbers for getting an estimate of loan EMIs?

This easy to use free tool called Personal loan EMI Calculator lets you do the accurate calculations in a fraction of seconds. All you have to do is simply put the loan amount, loan tenure, and interest rate and you will be presented with the exact details. The data will let you decide how much loan amount is exactly required to manage the shortcomings.

It is very simple and convenient to use even for the first-time user.

 

Personal Loan EMI calculations at different tenures

Tata Capital Personal Loan offers personal loans at 11.75% p.a to its borrowers. Let’s figure out what will be the EMI for a loan amount at different tenures.

 

Loan Amount

1st year

2nd year

3rd   year

4th year

5th year

Rs 1,00,000

8,873

4,695

3,309

2,621

2,211

Factors affecting Tata Capital Personal Loan EMI

Interest Rate - The lowest interest rate offered by the Tata Capital is 11.75%. For salary account holders Tata Capital Personal Loan interest rates can be lower than their quote rates. 

Loan Tenure – Tata Capital offers the loan for a maximum tenure of 5 years. Opting for longer tenure helps lowering the EMIs.

Loan Amount – Higher loan amount invites higher EMI. Tata Capital Personal Loan offers a minimum loan of Rs 75,000 which can go up to Rs 20 lakh. 

Tata Capital Personal Loan Personal Loan EMI Calculation formula

Below is the illustration of how Tata Capital Personal Loan EMI is calculated:

n = Tenure in month

r = Per month rate of interest

P= Loan Amount

The formula for calculating personal loan adopted by Tata Capital is 

Tata Capital Personal Loan EMI Calculator—Feature and benefits

The smart tool that does the calculations for you within minutes, giving an estimate of monthly outflow of debts. The dynamics of the tool can better be understood by computing different details every next time.

Let us discuss the benefits of using a personal loan EMI Calculator in detail.

Accuracy – The result displayed by the EMI Calculator on computing details like loan amount, loan tenure, and interest rate, will be accurate. This may not be possible in case of manual calculation.

24/7 availability – An applicant can check the details by computing the loan amount, interest rate, tenure and figure out by analyzing how much loan is required. There is no restriction on using the EMI Calculator as many times one wants. It allows to adjust the details and check which one is working for you.

Graphical representation of data- The graphical representation of the data, make the individual aware of the gradual payment which they are going to make towards the loan amount.  The role of EMI Calculator is not restricted to mere providing data. 

Time Saver- Using EMI Calculator will reduce the task to the friction of seconds. It is more suitable in deriving a correct estimate.

Manual calculation of the EMI would take much time posing chances of incorrect details at times. 

How to use Afinoz Personal Loan EMI Calculator

Using Personal loan EMI Calculator at Afinoz is quite simple and can be easily made use of even by the first- time user. Afinoz is a marketplace for users to compare and shop for the best loans under one umbrella. The interest rates offered are affordable.  

Visit the website www.afinoz.com and go to the section of the Calculators. Click on the dropdown and select EMI Calculator.  Compute the details of loan amount, loan tenure, and interest rate and get results within fraction of seconds. 

The EMI Calculator is simple to use and gives you the details without putting up much effort. The accuracy of the data is noteworthy and can be made use of in figuring out the future requirement of applying for the loan amount. The page also displays the details graphically which gives a visual representation of the figure.

Tata Capital Personal loan interest rate

The process of applying for the loan is easy, convenient and hassle-free. There is complete transparency with no hidden terms and conditions.

Tata Capital Personal Loan offers personal loans at an interest rate of 11.75% p.a. 

The various factors which influence interest rates of personal loan are credit score, employer of the applicant, the income of the applicant, age, etc.

Personal Loan Eligibility Criteria to apply at Tata Capital

To apply for loan at Tata Capital an individual will have to fulfill the below mentioned criteria. 

  • The applicant should be minimum 22 years of age
  • Should be Indian resident
  • Should draw a minimum monthly salary of Rs 15,000
  • Should have minimum 1 year of working experience
  • Should be associated with the organisation for at least 6 months

Documentation required to apply for Personal Loan at Tata Capital

The online application of personal loan requires only few basic minimal documentations. Below is the checklist.

  • Identity Proof- PAN Card/ Aadhaar Card/ Voter Id/ Driving License
  • Address Proof – Passport/Utility Bill/ Aadhaar Card
  • Income Proof- Last 6 months bank statement
  • Applicant should submit a certificate from employer for one year of continuous employment.

How to apply for a Personal loan with Tata Capital Personal loan

A borrower is required to check first the eligibility criteria, before applying for the loan. A good credit score will always be favorable for the borrower in getting the loan application approved. It creates a positive impression in the mind of the lender about the repayment of the debt amount. It also gives the opportunity to the borrower to avail of loan at the lesser interest rate.

With the banking system being digitized, availing loans at few taps of a button is in trend these days. The applicant can visit the website of www.afinoz.com and can apply for the loan. The applicant will have to fill the application form and upload a few minimal documentation.