Tata Capital Personal Loan EMI Calculator

Taking personal loans can be intimidating for several people at times. Personal loans are granted from banks for emergency purposes. It can be anything from making an emergency purchase like wedding expenses, home restructuring, debt consolidation, and other matters.

The tenure for personal loans remains on the lower side. It can be anything between 2 to 6 years, depending on your budget. No matter what your situation is, calculating your monthly instalments before taking a personal loan is always a smart idea.

The Kotak Mahindra Bank loan EMI calculator functions based on three crucial parameters – the loan amount, the loan tenure, and the interest rate. Upon inputting these details, the calculator instantly computes the EMI you need to pay each month for the loan tenure. The breakdown provided by the calculator offers a crystal-clear understanding of the loan repayment structure, thereby allowing for well-informed decisions.

Tata Capital Personal Loan Interest Rates

The Tata Capital personal loan interest rates are competitive and affordable and start from just 10.99% p.a. The lower interest rates you receive, the smaller EMI you have to pay. Personal loan interest rates can vary for each borrower depending on several factors like their CIBIL score, income, the amount being borrowed, repayment capability, repayment tenure, employer’s reputation, nature of employment, financial history, debt-to-income ratio, and so on.

Tata Capital Personal Loan Interest Calculator Formula

The EMI for a personal loan depends on three parameters: the loan amount, the interest rate, and the loan tenure. Here’s the formula used to calculate EMI:

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

Where:

• P represents the loan amount.
• R stands for the monthly interest rate (annual interest rate/12/100).
• N represents the loan tenure in months.

Let’s take an example: if you avail a loan of Rs. 5 lakh for a period of 2 years (24 months) with an annual interest rate of 12%, the EMI would be calculated as follows:

EMI = [5,00,000 x (1+0.01)^24] / [(1+0.01)^24 – 1] = Rs. 23,537.

The EMI calculated will be payable each month for 24 months.

Amortization schedule

Here is the amortization schedule on a personal loan of Rs 5 Lakh. The interest rate is 12% every year and the tenure is 10 years or 120 months.

Month	Principal (in Rs)	Interest (in Rs)	Principal + Interest	Balance to be paid
1	2174	5000	7174	497826
2	2195	4978	7174	495631
3	2217	4956	7174	493414
4	2239	4934	7174	491175
5	2262	4912	7174	488913
6	2284	4889	7174	486628
7	2307	4866	7174	484321
8	2330	4843	7174	481991
9	2354	4820	7174	479637
10	2377	4796	7174	477260
11	2401	4773	7174	474859
12	2425	4749	7174	472434

This table is indicative of the first 12 months of the loan tenure. The interest component will keep on reducing as the tenure progresses, while the principal component increases proportionately. 

Tata Capital Personal Loan Interest Rate

Tata Capital offers competitive interest rates on personal loans. These rates are determined based on several factors, such as the applicant’s credit score, loan amount, tenure, and more. For instance, as of 2021, the bank provided personal loans starting from an interest rate of 10.75% p.a. These rates are subject to change and are regularly updated on the bank’s official website.

Tata Capital Personal Loan Features and Benefits

• Flexible tenure: Tata Capital offers flexible loan tenure options ranging from 12 to 60 months, allowing you to choose a repayment period that best suits your financial situation.
• High loan amount: You can avail a personal loan up to Rs 20 lakh, depending on your eligibility, to cater to a wide range of financial needs.
• Quick and easy process: The loan application process is quick, and the bank requires minimal documentation. This means you can get the funds when you need them without any delay.
• Online access: The bank offers online account access, so you can check your loan status, view your EMI schedule, and manage your loan account conveniently.

Tata Capital Personal Loans Documents Required

• Identity Proof – Voter Id Card/Passport/Driving License/Aadhar Card
• Address Proof – Aadhar Card/ Passport/ Telephone or Electricity bill/ Ration Card/ Rental Agreement
• Bank statement – Bank statement of last 3 months or bank passbook of 6 months
• Salary Slip – Salary slip of the last 3 months with Form 16

Tata Capital Personal Loan Customer Care

For queries & feedback use following modes:

1. Use Tata Capital Customer ID & Password to access portal & mobile app for quick resolution of your loan related queries. All account related details can be access from customer portal.
2. TATA CAPITAL CUSTOMER CARE NUMBER:  Call 1860 267 6060 
   (between 9 am to 8 pm,  Monday to Saturday)
   (Service not available on Sundays and public holidays.)
3. For Personal Loan related queries write email to: customercare@tatacapital.com
4. Mail: You can write your posts to: 

Tata Capital Financial Services Limited
REGISTERED OFFICE

11th Floor, Tower A, Peninsula Business Park, 
Ganpatrao Kadam Marg, Lower Parel, 
Mumbai – 400013

Factors Affecting Tata Capital Personal Loan EMI

Here are some factors that play a vital role in your EMI amount:

1. Income

The borrower’s income plays a crucial role in determining the interest rate on a loan or whether a person is eligible for the personal loan or not. People with high disposable incomes are likely to get approval for a bigger personal loan as compared to someone with a lower income. The logic is simple — people with higher incomes can pay higher interest rates and are more likely to return the loan safely.

2. Credit Score

High credit scores always make you a better candidate for a personal loan as compared to lower credit scores. People with high credit scores get bigger loans and hence have larger EMIs. People with lower credit scores become high-risk borrowers and hence will always get lesser loans and have lower EMIS. 

3. Employer’s Status

Did you know that even your employer’s financial status has a role in the loan amount that gets sanctioned and, finally, the EMI you will pay? While personal loans do not require any security, banks check backgrounds before lending, especially your employer’s financial status. This, because it helps ascertain your creditworthiness. People working for reputable organisations are always more likely to get better loan amounts. 

4. Tenure

The loan tenure is known to affect your EMI inversely. The longer the tenure, the lesser is the EMI you pay, but at the same time, higher is the interest. Therefore it is vital to create a balance between the loan tenure and the EMI using the Tata Capital personal loan EMI calculator. It is also good to remember that Tata Capital offers a personal loan for a maximum tenure of 5 years. 

What is the monthly EMI for Rs 5 lacs Tata Capital Personal Loan?

Let’s have a look at your complete Tata Capital Personal Loan details under various circumstances

When your Tata Capital Personal Loan Interest Rate is 12.5% 

Tenure (in months)	EMI (in Rs)	Interest Payable	Total Outgo
24	23,654	67,688	5,67,688
36	16,727	1,02,165	6,02,165
48	13,290	1,37,920	6,37,920
60	11,249	1,74,938	6,74,938

You see, although your EMI will be less when going for a longer tenure but at the same time you will have to pay a hefty interest on your Tata Capital Personal Loan.

When your Tata Capital Personal Loan Interest Rate is 14%

Tenure (in months)	EMI (in Rs)	Interest Payable	Total Outgo
24	24,006	76,155	5,76,155
36	17,089	1,15,197	6,15,197
48	13,663	1,55,835	6,55,835
60	11,634	1,98,048	6,98,048

Here you can see that despite a flared up interest rate, you can find your Tata Capital Personal Loan EMI balance by choosing the tenure that fits your pocket or future financial planning.

What is the monthly Rs. 10 lakh Personal Loan EMI Tata Capital?

Like above, let’s have a look at your complete Tata Capital Personal Loan details under various circumstances

When your Tata Capital Personal Loan Interest Rate is 12.5% 

Tenure (in months)	EMI (in Rs)	Interest Payable	Total Outgo
24	47,307	1,35,375	11,35,375
36	33,454	2,04,331	12,04,331
48	26,580	2,75,840	12,75,840
60	22,498	3,49,876	13,49,876

You see, although your EMI will be less when going for a longer tenure but at the same time you will have to pay a hefty interest on your Tata Capital Personal Loan.

When your Tata Capital Personal Loan Interest Rate is 14% 

Tenure (in months)	EMI (in Rs)	Interest Payable	Total Outgo
24	48,013	1,52,309	11,52,309
36	34,178	2,30,395	12,30,395
48	27,326	3,11,671	13,11,671
60	23,268	3,96,095	13,96,095

Here you can see that despite a flared up interest rate, you can find your Tata Capital Personal Loan EMI balance by choosing the tenure that fits your pocket or future financial planning.

Comparison of Tata Capital Personal Loan EMI with Other Banks

Name of Bank	Interest Rate	Loan Tenure	Loan Amount
Tata Capital	10.99% to 17.25%	12 months to 60 months	Rs. 50,000 to Rs 15 lakhs
HDFC Bank	10.50% to 22%	12 months to 60 months	Rs. 50,000 to Rs. 75 lakhs
SBI	11% to 14%	Upto 6 years	Rs. 20 lakhs
ICICI Bank	10.25% to 22%	12 months to 60 months	Rs. 50,000 to Rs. 30 lakhs
Punjab National Bank	8.95% to 14.85%	12 months to 60 months	Rs. 50,000 to Rs 15 lakhs
Bank of Baroda	8.65% to 16%	12 months to 60 months	Rs. 50,000 to Rs. 5 lakhs

Benefits of using CashZeni Tata Capital EMI Calculator?

The CashZeni Tata Capital EMI Calculator is a simple, efficient, and effective way to calculate your loan EMIs. Not only is it free and easy to use, but it also allows you to experiment with different variables like loan amount, tenure, and interest rate. This tool provides you with the precise amount of your EMIs, thus helping you make informed decisions about your loan.

Frequently Asked Questions