Tata Capital Car Loan EMI Calculator

The TATA Capital Car Loan EMI Calculator is an easy-to-use online tool that helps potential car buyers estimate their monthly loan repayments (EMIs) in advance. Whether buying a new or used car, this calculator enables you to make informed financial decisions by providing quick EMI estimates based on your loan amount, interest rate, and repayment tenure.

By entering just a few basic inputs, you can instantly see how much you’ll need to pay each month. This helps you manage your finances better and select a loan that fits your budget and requirements.

How to Use Wishfin TATA Capital Car Loan EMI Calculator?

Using the Wishfin TATA Capital Car Loan EMI Calculator is a straightforward process that helps you estimate your monthly car loan repayments. By utilizing the Wishfin TATA Capital Car Loan EMI Calculator, you can make informed decisions about your car loan, ensuring that your monthly payments align with your financial goals.

Example of TATA Capital Car Loan EMI Calculator

Suppose you’re planning to take a car loan of Rs 25,00,000 from TATA Capital with a loan tenure of 5 years (60 months) and an interest rate of 9.49% per annum. When you enter these values into the TATA Capital Car Loan EMI Calculator, it quickly calculates your monthly installment based on these inputs. This gives you a clear picture of your financial commitment before you proceed with the loan, helping you plan your budget with confidence.

Here is the comprehensive month-by-month breakdown of the amortization schedule.

Formula for Calculating SBI Bank Car Loan EMI

Here is how you can calculate the EMI for a TATA Capital Car Loan using the formula, along with a step-by-step example using these loan details:

EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1]​

Where:

• E = EMI
• P = Loan Amount (Rs 25,00,000)
• R = Monthly Interest Rate = Annual Interest Rate / 12 = 9.49% ÷ 12 = 0.007908
• N = Loan tenure in months = 5 years × 12 months = 60 months.

Step-by-Step:

• Convert the monthly rate: R=0.007908R = 0.007908R=0.007908

• Calculate (1+R)N=(1.007908)60≈1.59307(1 + R)^N = (1.007908)^{60} ≈ 1.59307(1+R)N=(1.007908)60≈1.59307

• Now plug in the values

Your monthly EMI will be approximately Rs 52,521.

The Minimum EMI Offered On TATA Capital Car Loan

The table below displays the EMI calculated on the Wishfin TATA Capital Car Loan EMI Calculator on a loan amount of Rs 25,00,000 with a tenure of up to 5 years at an interest rate starting from 9.46% p.a.

Eligibility Criteria for a TATA Capital New Car Loan

For Salaried Individuals:

• Age: Applicant must be between 21 and 60 years old.
• Minimum Income: Should have an annual salary of at least Rs 3,00,000.
• Work Experience: Must have a minimum of one year of work experience.

For Self-Employed Professionals:

• Age: The applicant should be between 21 and 65 years of age.
• Business Ownership: Should be the proprietor of the business.
• Business Vintage: The business must be operational for at least one year.
• Minimum Income: Annual income should be at least Rs 3,00,000.

For Other Self-Employed Applicants:

• Minimum Income: Must have a minimum annual income of Rs 2,00,000.
• Average Bank Balance (ABB): Should be at least 0.5 times the proposed EMI to ensure repayment capability.

Note: Applicants without formal income proof may also be eligible for a car loan. Eligibility in such cases is determined based on banking history and ownership of a self-owned or parent-owned residence. TATA Capital also offers select car loan products that require minimal or no documentation, ensuring access to financing for a wider range of customers.

TATA Capital Car Loan – Fee Structure & LTV

Note: GST and other applicable government levies will be charged on all fees.

Benefits of Using the TATA Capital Car Loan EMI Calculator

1. Flexible Tenure - TATA Capital offers the flexibility to choose a repayment tenure of up to 84 months. This allows you to spread your EMIs over a longer period, ensuring manageable monthly payments that suit your financial comfort.
2. Quick Processing - You can apply for a TATA Capital car loan online through a simple application form with minimal documentation. Once approved, the loan amount is disbursed to your bank account within a few working days, so you can drive away in your dream car sooner.
3. Flexi EMI Options – TATA Capital allows you to tailor your EMIs according to your preferences. You have the freedom to increase or decrease the loan tenure, helping you keep your EMIs affordable and aligned with your monthly budget.
4. Competitive Interest Rates - TATA Capital offers car loans at some of the most competitive interest rates starting from 9.49% p.a. in the market. By using the EMI calculator, you can estimate your monthly outflows in advance and make an informed decision.
5. Instant Approval m- Apply online and receive instant approval after document verification. The loan amount is directly credited to your bank account, making the entire process fast, simple, and hassle-free.

Advantages of a TATA Capital New Car Loan

• Flexible Tenure - Choose a repayment period of up to 84 months to make EMIs more manageable.

• Quick Processing - Apply online with minimal documents. Get funds in your bank account within a few working days.

• Flexi EMI Options - Customize your EMI by adjusting the loan tenure to suit your budget.

• Competitive Interest Rates - Enjoy low interest rates. Use the EMI calculator to plan your finances better.

• Instant Approval - Get instant approval online with quick document verification and fast disbursal.

Summary!

The TATA Capital Car Loan EMI Calculator is an intuitive and efficient tool that makes it easy to plan your car loan. By simply entering the loan amount, interest rate, and tenure, you can instantly view your monthly EMI, total interest payable, and overall loan cost. It empowers you to make informed financial decisions, compare loan options, and choose a repayment plan that fits your budget. Whether you're buying a new or used car, the calculator ensures transparency and clarity before you commit to a loan.