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Tata Capital Personal Loan EMI Calculator - Mar 2021

Tata Capital Personal Loan Calculator

Last Updated 23rd Feb 2021

Get monthly EMI as low as ₹ 1,916 per lakh on Tata Capital personal loan. Personal loan EMI in Tata Capital depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.

Loan Amount1 Year Loan3 Year loan6 Year loan
₹ 3 Lakh₹ 26,549₹ 9,857₹ 5,749
₹ 6 Lakh₹ 53,099₹ 19,714₹ 11,497
₹ 12 Lakh₹ 1,06,198₹ 39,429₹ 22,995
Personal Loan EMI Calculator Or Free Corona Health Insurance Cover of up to ₹5 lakh
Lowest Interest Rate
Best Offers on Personal Loan offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action
HDFC Bank10.50%₹ 2,149Check Eligibility
Bajaj Finserv12.99%₹ 2,275Check Eligibility
ICICI Bank10.75%₹ 2,162Check Eligibility

* Starting From

Personal Loan EMI Calculator Tata Capital

  • Personal Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Tata Capital against the loan taken for repayment of your loan and payment of interest to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • Tata Capital offers affordable and convenient personal loans with loan EMIs as low as ₹ 1,916 per lakh for a tenure of 72 months and lowest rate of interest at 11.25%.
  • Tata Capital Personal loan EMI calculator is a convenient and reliable tool that helps the loan borrower determine the loan repayment schedule. In addition to that, the Tata Capital personal loan EMI calculator helps first-time loan borrowers to ensure whether they should opt for a loan or not.

Personal loan EMI calculator at different tenures

Personal Loan EMI for different loan amounts and tenures @ 11.25% interest rate

Loan Amount (Rs.)2 Years3 Years6 Years
1 Lakh ₹ 4,672 ₹ 3,286 ₹ 1,916
3 Lakh ₹ 14,017 ₹ 9,857 ₹ 5,749
5 Lakh ₹ 23,362 ₹ 16,429 ₹ 9,581
10 Lakh ₹ 46,724 ₹ 32,857 ₹ 19,162
  • From the above table, it can be interpreted that for various loan amounts taken at the lowest interest rate, EMI differs for loans taken at different tenures. Your EMI is higher when you take a loan for a shorter tenure of 2 years and is higher for a longer tenure loan of years.
  • Each EMI includes a component of interest payment and principal repayment. Even as EMIs remain constant, every month, there is a change in the proportion of interest component and principal repaid. With every EMI payment, the proportion of principal repayment in EMI keeps increasing and the interest component keeps reducing.
Tata Capital Personal Loan Interest Calculator
Personal Loan EMI for ₹ 1 Lakh loan amount at lowest 11.25% interest rate offered by Tata Capital for different tenures
Calculated Results for Tata Capital Home Loan EMI 2 years 3 years 6 years
Tata Capital EMI for a loan amount Rs. 1 lakh at 11.25% ₹ 4,672 ₹ 3,286 ₹ 1,916
Total amount you pay back to the bank including principal and interest ₹ 1.12 Lakh ₹ 1.18 Lakh ₹ 1.38 Lakh
Interest you have to pay during the loan tenure ₹ 12,128 ₹ 18,296 ₹ 37,952

The above table shows that EMI paid on loan will be lower for a loan taken for a longer tenure. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take a ₹ 1 Lakh loan from Tata Capital for 72 years, you pay the lowest EMI of ₹ 1,916. However, you pay an interest of ₹ 37,952 on a ₹ 1 Lakh loan.
In contrast, if you take a ₹ 1 Lakh loan from Tata Capital at the lowest loan rate for 2 years, you pay a higher EMI of ₹ 4,672 and pay an interest of only ₹ 12,128 which is less than half of what you pay for a 72 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting Tata Capital Personal Loan EMI

  • Loan amount – This is the amount that you have borrowed from Tata Capital. If you apply for a higher loan amount, your monthly EMI will be high. Tata Capital gives a minimum loan of ₹ 75,000 , which can go upto an amount of ₹ 25 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Tata Capital personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Tata Capital is 11.25%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period in which you can repay your loan in Tata Capital. Longer loan tenure means lower personal loan EMI. Generally, Tata Capital offers a loan for a maximum tenure of 6 years.

Personal Loan Amortization Calculator

An amortization schedule is a table of periodic loan payments that shows the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.

In the Amortization schedule, your Personal Loan monthly EMI will be equal, but the component of EMI, which consists of interest payment and principal payment will not remain the same every month, it keeps on changing.

Illustration: How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 2.50 Lakh for 4 years at an interest rate of 10.40%. EMI calculated for this loan amount is ₹ 6,389 and the total annual EMIs to be paid annually is ₹ 76,665. The EMI schedule of loan for 4 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 2.50 Lakh over the 4 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 19,981 ₹ 43,906 ₹ 63,888 ₹ 2,06,094
2022 ₹ 18,723 ₹ 57,942 ₹ 76,665 ₹ 1,48,152
2023 ₹ 12,402 ₹ 64,264 ₹ 76,665 ₹ 83,888
2024 ₹ 5,390 ₹ 71,275 ₹ 76,665 ₹ 12,613
2025 ₹ 164 ₹ 12,613 ₹ 12,778 -₹ 0

Each Personal Loan EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

In the above illustration, on a Personal Loan of ₹ 2.50 Lakh, taken at the lowest interest rate of 10.40%, EMI paid is ₹ 6,389 and an annual total of EMIs is ₹ 76,665, the interest component is ₹ 23,514 while the principal component is ₹ 53,152 in year 1 of loan disbursement. You repay only 21.26% of the total principal after paying 12 EMIs during the first year.

In year 4, the interest component of EMI is around 5.41%, while the principal component is around 94.59%. Upto 4 years, you have cumulatively repaid 100% of your total Personal Loan.

Tata Capital Personal Loan Interest Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Tata Capital Personal Loan EMI is calculated:

In the above formula,

P = Loan amount. This can range from ₹ 75,000 to ₹ 25 Lakh

r = Rate of interest per month. Current rate is 11.25%

n = tenure in month. For Tata Capital, this can be 72 months

How to decide the right amount of EMI?

As a borrower, calculating right amount of EMI is a function of your loan requirement, your monthly income, repayment capacity as well as the amount of monthly instalment you can afford to pay out from your monthly income. As a guide, follow the below steps to estimate the EMI amount that is advisable for you.

  • Decide the amount you need to borrow: It is important that before approaching a bank for loan, you need to estimate the amount of loan you need to borrow. Remember, a personal loan is an unsecured loan that can come at high interest rates and hence, it is advisable to limit your loan amount to the minimum required. Also, based on the EMI you can service, try to opt for the lowest tenure of loans as long tenure loans result in huge interest outgo.
  • Review your current obligations: Before taking a loan, it is advisable to evaluate your current monthly expenses including any EMI obligations that you have on your current loan accounts. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.
  • Calculate your Tata Capital personal loan eligibility: Your loan eligibility is a function of an assessment of your repayment capacity based on your monthly income and other fixed obligations.
    • Multiplier based loan amount eligibility - Tata Capital calculates your loan amount eligibility by applying a multiplier to your net-take home salary. This is the simplest method for calculating loan eligibility used by banks. The formula used in the loan amount eligibility calculation is: Loan Eligibility = (Your Net Salary) x (multiplier of 9 to 18). The multiplier depends on the bank’s internal categorization of your employer company based on its reputation, stability, size, and growth in turnover.
    • FOIR based loan amount eligibility - Tata Capital will also estimate your Fixed Income to Obligations Ratio (FOIR) to ascertain the maximum EMI you can service based on your current income and other monthly expenses. The bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations to calculate your fixed obligations. The proportion of fixed income to your calculated fixed obligations gives your FOIR. Tata Capital lends up to a maximum FOIR of 0.65. Based on the FOIR, the bank will also estimate the maximum amount of EMI you can service as a borrower. Tata Capital's assessment may be different from your assessment. Any differences in assessment may require you to readjust your loan amount requirement. You may also consider paying back other running short term loans to improve your eligibility.
    • Tata Capital will calculate your loan amount eligibility based on the above two methods and will sanction you a lower loan amount arrived at by the above two methods.
Quick guide on Tata Capital personal loan
  • Purpose of Loan: Tata Capital personal loan is taken to funding medical treatment in case of emergencies, paying additional debts, marriage expenses and other personal finance requirements.
  • Key Features
    • Loan available for both salaried individuals and self-employed professionals.
    • Borrowers within the age group of 21 and 58 years.
    • Loan amount of minimum ₹ 75,000 to ₹ 25 Lakh.
    • Loan Tenure 1 to 6 years.
    • Interest rates in the range of 11.25% to 17.99%.
    • Lowest EMI of ₹ 1,916 per lakh.
  • Processing Fees: Upto 2.50% of Loan Amount of loan amount. This is to be paid at the time of loan application
  • Special schemes: Tata Capital offers customised personal loan interest rates and schemes for a special category of borrowers, including borrowers working in reputed companies, banks or government employees etc.

Personal loan EMI calculator Tata Capital – How it works?

  • Tata Capital personal loan calculator are online tools which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Tata Capital EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

In case you prepay your personal loan, the outstanding balance on your loan reduces. In this scenario, Tata Capital will allow you to reduce your loan tenure or reduce your EMI. The right decision is dependent on you monthly budget and personal preference. You should opt to reduce your EMI if you want to have a higher monthly spend budget or you should opt to lower your tenure if you want to save on your total interest outgo and want to close your loan quickly. You can calculate the change in your EMI by inputting the outstanding personal loan amount from Tata Capital, the interest rate and the remaining tenure in the EMI calculator.

Other Loan Calculators

FAQs

Why should I calculate Tata Capital loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Tata Capital personal loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future when you have surplus amount

What is the lowest EMI per lakh offered by Tata Capital on personal loan?

Tata Capital offers personal loan at 11.25% interest rate for a maximum of 72 months, and hence lowest EMI on per lakh loan amount is ₹ 1,916. However, Tata Capital may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre close Tata Capital personal loan?

You can preclose your Tata Capital personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of balance amount that you have paid.

What are the prepayment charges on Tata Capital ?

Tata Capital offers you an option of prepayment after 6 months at Rs. 1,000 to Rs. 5,000.

Is there any processing charge on personal loan from Tata Capital?

Yes, Tata Capital charges a certain amount of processing fee to process your loan application. Currently, Tata Capital charges a processing fee of Upto 2.50% of Loan Amount on Personal Loan.

Will I get the personal loan from Tata Capital if i have a bad credit score?

No, for taking a loan from Tata Capital, an applicant must have a good credit score of 700 and above. Usually, most of the banks avoid giving loans if you have a low credit score.

How does a personal loan repayment happen?

The repayment of a personal loan happens in the form of an EMI (Equated Monthly Installment) through the customer's bank account. The customer is required to present a few post dated cheques and sign an ECS mandate in favour of the bank at the time of loan disbursal.

Can I have a co-applicant while applying for a Personal loan with Tata Capital ?

Yes, you can opt for a co-applicant to take a personal loan from Tata Capital that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Tata Capital personal loan?

If you have funds, then you can pay more than the regular EMI on your loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Tata Capital loan EMI?

You can pay the EMI on personal loan by using ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque.

Compare Personal Loan EMI of All Banks

Tata Capital Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-209-6060
Ahmedabad 1800-209-6060
Ambala 1800-209-6060
Anand 1800-209-6060
Aurangabad Bihar 1800-209-6060
Bangalore 1800-209-6060
Bhilai 1800-209-6060
Bhilwara 1800-209-6060
Bhiwadi 1800-209-6060
Bhopal 1800-209-6060
Bhubaneswar Cuttack 1800-209-6060
Bikaner 1800-209-6060
Chandigarh 1800-209-6060
Chennai 1800-209-6060
Cochin 1800-209-6060
Coimbatore 1800-209-6060
Dehradun 1800-209-6060
Delhi 1800-209-6060
Durg 1800-209-6060
Faridabad 1800-209-6060
Gandhinagar 1800-209-6060
Ghaziabad 1800-209-6060
Goa 1800-209-6060
Greater Noida 1800-209-6060
Gurgaon 1800-209-6060
Guwahati 1800-209-6060
Gwalior 1800-209-6060
Hyderabad 1800-209-6060
Indore 1800-209-6060
Jabalpur 1800-209-6060
Jaipur 1800-209-6060
Jalandhar 1800-209-6060
Jodhpur 1800-209-6060
Kanpur 1800-209-6060
Karnal 1800-209-6060
Kolhapur 1800-209-6060
Kolkata 1800-209-6060
Kota 1800-209-6060
Kozhikode 1800-209-6060
Lucknow 1800-209-6060
Ludhiana 1800-209-6060
Madurai 1800-209-6060
Meerut 1800-209-6060
Mehsana 1800-209-6060
Mohali Sas Nagar 1800-209-6060
Mumbai 1800-209-6060
Mussoorie 1800-209-6060
Nagpur 1800-209-6060
Nashik 1800-209-6060
Noida 1800-209-6060
Noida Extn 1800-209-6060
Panipat 1800-209-6060
Patna 1800-209-6060
Pondicherry 1800-209-6060
Pune 1800-209-6060
Raipur 1800-209-6060
Rajkot 1800-209-6060
Ranchi 1800-209-6060
Rohtak 1800-209-6060
Roorkee 1800-209-6060
Salem 1800-209-6060
Shimla 1800-209-6060
Sonipat 1800-209-6060
Surat 1800-209-6060
Trichy 1800-209-6060
Udaipur 1800-209-6060
Vadodara 1800-209-6060
Varanasi 1800-209-6060
Vijaywada 1800-209-6060
Vizag 1800-209-6060

Tata Capital Personal Loan Reviews 4.6/5  by 43 customers
MyLoanCare Service
4.7/5.0
Banks Service
4.5/5.0
Kartick Mondal, Bangalore
Reviewed on 27th Aug 2019
5 / 5 stars
Tata Capital Personal Loan Availed in Aug 2019

Service is too good..Keep it up guys.Read more...

Harish Nagaraj, Bangalore
Reviewed on 21st Aug 2019
4 / 5 stars
Tata Capital Personal Loan Availed in Aug 2019

Good Service by Chinmoy, responded and connected with bank to clear all my doubts.Read more...

Keshav Kumar, Bangalore
Reviewed on 16th Aug 2019
5 / 5 stars
Tata Capital Personal Loan Availed in Aug 2019

Awesome. You people are amazing. Helped me in tough situation.Read more...

Harish Vs, Bangalore
Reviewed on 06th Aug 2019
5 / 5 stars
Tata Capital Personal Loan Availed in Aug 2019

I had contacted bank bazaar before contacting MyLoanCare. But the response was worst from them. RubiRead more...

Mithun Madhusoodhana, Bangalore
Reviewed on 22nd Jul 2019
5 / 5 stars
Tata Capital Personal Loan Availed in Jul 2019

Excellent offers for loans with minimum interest rate as compared to other banks.Read more...

Sunil Kumar, Bangalore
Reviewed on 24th Jun 2019
5 / 5 stars
Tata Capital Personal Loan Availed in Jun 2019

Very supportive customer service provided. There was a good resolution.Read more...

Haritha Bommavarapu, Hyderabad
Reviewed on 20th Jun 2019
5 / 5 stars
Tata Capital Personal Loan Availed in Jun 2019

Good and speedy service by MyLoanCare team I appreciate the service.Read more...

Bhushan Nitin Gaikar, Mumbai
Reviewed on 16th Jun 2019
5 / 5 stars
Tata Capital Personal Loan Availed in Jun 2019

Overall experience was awesome. Mr Raj Kumar helped me a lot for sanctioning loan.Read more...

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Tata Capital Personal Loan News - Mar 2021
  • 2021-02-23 : Tata Capital launched a campaign to introduce Shubharambh loan
    Tata Capital joined hands with Zee Cinema to launch a campaign to introduce the Shubharambh loan. Shubharambh Loans are available across Business, Personal Two-wheeler, Used Car, Loan Against Property and Home Loans. Each product has special features that aims to benefit customers across categories.
  • 2019-08-14 : Tata Capital Fin Services eyes 20% growth in loan book this fiscal
    A subsidiary of Tata Capital, Tata Capital Financial Services is eyeing for more than 20% growth in its overall loan book this fiscal. The company is also aiming to raise debts through NCD to fund its growth.
  • 2019-05-24 : Thomas Cook launches Holiday Basket package in association with Bajaj Finance and Tata Capital
    One of the leading travel services company, Thomas Cook has partnered with Bajaj Finance and Tata Capital to offer travel loans to Indian travellers and millennials with a facility of no cost EMI. With this plan, the company aims to help travellers to travel without worrying about their current finance.
  • 2019-02-25 : Thomas cook ties up with Bajaj Finserv and Tata Capital for Travel loans EMI Scheme
    In a bid to provide offer convenience and benefits to their customers while travelling, Thomas cook has announced its association with Bajaj Finserv and Tata Capital for Travel loans EMI scheme for avid travellers. As per the sources, it has been witnessed that how travel enthusiasts are smartly making use of travel loans along with an EMI option to explore new destinations. In addition to this, the company also has plans to offer a travel savings product which allows the customer to fix the price ahead of the travel and save some specific amount.
  • 2019-02-14 : Tata Capital to disburse Personal Loans using Voice-bot TIA
    Tata Capital has announced the launch of its voice bot, TIA that will assist loan borrowers to avail personal loans without human intervention. The voice-enabled bot assists a person seeking a loan right from the initial stage of the loan process until the final disbursement of the loan. Additionally, it also checks your loan eligibility to assess whether the person can get loans from Tata Capital or not.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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