How Tata Capital Personal Loan EMI Calculator Helps in Repayment?

When you borrow a loan the first thing that will come to your head is how you are going to pay this off. But, your problem solution is provided by the Tata Capital personal loan EMI calculator. This tool generates the EMI amount of your borrowed loan based on a few details such as interest rate and tenure. Read the article and know about the tool functioning and benefits in detail.

Tata Capital Personal Loan EMI Calculator Formulae

The EM calculator functions using the mathematical formulae of EMI = P × r × (1 + r)n/((1 + r)n – 1), where P denotes your loan amount, r interest rate and n tenure. You can use this formulae manually as well if you have doubt on the Tata Capital Personal Loan EMI Calculator result.

How to use Tata Capital Personal Loan EMI Calculator?

• Visit the Tata Capital official website
• Select personal loan
• Click on the ‘Tata Capital Personal Loan EMI Calculator’
• Then the tool will appear on your screen
• Enter the loan amount, interest rate and tenure
• The EMI will be generated in few seconds after that

List of advantages of using Tata Capital Personal Loan EMI Calculator!

Low interest outgo: If you use Tata Capital Personal Loan EMI Calculator, you can pay less interest compared to your non-estimated decision. As then your interest outgo will be high. When you use an EMI tool it gives you detail about the total loan payment by which you can adjust the tenure to reduce the interest liabilities.

Affordable EMI: Your ill calculated decision can result in high EMI payment. So, to avoid this you can take assistance from Tata Capital Personal Loan EMI Calculator which generates quick EMI without any hassle.

Prepayment benefit: When you use a Tata Capital Personal Loan EMI Calculator, it can be beneficial for you even after the loan approval as it can help you plan the prepayment. If you are deciding to close your loan account, make all the calculations first to know what amount you’ll save from it. Only then the prepayment will be a good decision for you.

Tenure as per suitability: Instead of choosing any random repayment period, you should take help of Tata Capital Personal Loan EMI Calculator to decide in which period the EMI is less and interest is low. Because that can help you pay the personal loan quickly.

Management of Interest Rat: Unfortunately if you get a high Tata Capital Personal Loan Interest Rate, you can use the EMI tool to manage it in your budget. The reason for your high interest can be many such as low credit score, high liabilities, due credit card bills, etc. But, now you are in an urgent need of funds, so try to cope with the situation using Tata Capital Personal Loan EMI Calculator. With the tool, estimate a tenure where the EMI is affordable to you and interest outgo is not that high. Understand it better with the example below.

Suppose you have borrowed Tata Capital Personal Loan of INR 7 lakh and the interest rate is 15.00% per annum. You need a tenure where the EMI is stable and interest payment is less. The tenure ranges from 12 to 72 months and Tata Capital Personal Loan EMI Calculator generates the following result for it.

 Loan Amount Interest Rate Tenure EMI Interest Outgo Total Payment 7,00,000 15.00% 1 63,181 58,170 7,58,170 7,00,000 15.00% 2 33,941 1,14,576 8,14,576 7,00,000 15.00% 3 24,266 1,73,566 8,73,566 7,00,000 15.00% 4 19,482 2,35,113 9,35,113 7,00,000 15.00% 5 16,653 2,99,177 9,99,177 7,00,000 15.00% 6 14,802 3,65,709 10,65,709