# Tata Capital Home Loan EMI Calculator

₹ 50k ₹ 5Cr
6.0% 30.0%
1 years 30 years
Principal Amount
Interest Amount

Monthly EMI

Principal Amount

Interest Amount

Tenure (Years)

Total Amount

## 2044

A home loan EMI calculator is an invaluable tool that simplifies the process of obtaining a home loan or considering a balance transfer. If you're contemplating taking out a home loan and are curious about your potential monthly payments, an EMI calculator is essential. It provides a clear picture of your financial commitments by calculating the monthly installments you'll need to make, allowing for better financial planning and decision-making.

## How to Use Wishfin Tata Capital Home Loan EMI Calculator?

Wishfin offers an online home loan EMI calculator that gives you monthly installments in just a few seconds. You need to enter the following details:

• Loan Amount
• Tenure
• Interest Rate

These are the three variables that are taken into consideration by the device in order to give away precise and accurate results related to your EMI, interest outgo, and the total amount payable towards a loan.

### Tata Capital Home Loan EMI Calculation Formula

The calculator uses the below formula to calculate an EMI.

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

where,

EMI = Equated Monthly Installment

P = Principal Loan Amount

R = Monthly Interest Rate

N = Number of Monthly Installments

The calculator uses the below formula to calculate an EMI.

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

where,

EMI = Equated Monthly Installment

P = Principal Loan Amount

R = Monthly Interest Rate

N = Number of Monthly Installments

For example, consider a borrower who takes out a loan of ₹60,00,000 at an annual interest rate of 9.5% for a term of 30 years. Here's how the calculation is done:

Principal Amount (P): ₹60,00,000

Annual Interest Rate (R): 9.5%, which translates to 0.00791 per month

Loan Tenure (n): 30 years, or 360 months

[60,00,000 x 0.00791 x (1 + 0.00791) ^ 360]/[(1+0.00791 ^360 -1] = 50,451

So, the monthly EMI required to be paid is ₹50,451.

## TATA Capital Home Loan Amortisation Schedule

Let’s just understand the proper functioning of the calculator, with the help of an example below.

Suppose, Ankit Bhatia, a 30-year-old, PHP Developer by profession is looking for a home loan of INR 25 Lakh. The one thing is that after studying his profile, Tata Capital has agreed to offer the loan at an interest rate of 8.75% for a tenure of 20 years. Before availing the Tata Capital home loan , Ankit wants to know what would be the exact amount of his monthly installments that he needs to pay each month to a lender. Thus, he used this online device and finally decided whether his EMIs were pocket-friendly or not. So, without any further delay, let’s just take a look at the calculations below.

Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount
₹ 25,00,000 8.75% 1 ₹ 2,18,339 ₹ 1,20,068 ₹ 26,20,068
₹ 25,00,000 8.75% 2 ₹ 1,13,925 ₹ 2,34,207 ₹ 27,34,207
₹ 25,00,000 8.75% 3 ₹ 79,209 ₹ 3,51,516 ₹ 28,51,516
₹ 25,00,000 8.75% 4 ₹ 61,916 ₹ 4,71,980 ₹ 29,71,980
₹ 25,00,000 8.75% 5 ₹ 51,593 ₹ 5,95,585 ₹ 30,95,585
₹ 25,00,000 8.75% 6 ₹ 44,754 ₹ 7,22,308 ₹ 32,22,308
₹ 25,00,000 8.75% 7 ₹ 39,906 ₹ 8,52,123 ₹ 33,52,123
₹ 25,00,000 8.75% 8 ₹ 36,302 ₹ 9,85,001 ₹ 34,85,001
₹ 25,00,000 8.75% 9 ₹ 33,527 ₹ 11,20,907 ₹ 36,20,907
₹ 25,00,000 8.75% 10 ₹ 31,332 ₹ 12,59,803 ₹ 37,59,803
₹ 25,00,000 8.75% 11 ₹ 29,558 ₹ 14,01,645 ₹ 39,01,645
₹ 25,00,000 8.75% 12 ₹ 28,100 ₹ 15,46,389 ₹ 40,46,389
₹ 25,00,000 8.75% 13 ₹ 26,885 ₹ 16,93,985 ₹ 41,93,985
₹ 25,00,000 8.75% 14 ₹ 25,859 ₹ 18,44,380 ₹ 43,44,380
₹ 25,00,000 8.75% 15 ₹ 24,986 ₹ 19,97,519 ₹ 44,97,519
₹ 25,00,000 8.75% 16 ₹ 24,236 ₹ 21,53,344 ₹ 46,53,344
₹ 25,00,000 8.75% 17 ₹ 23,587 ₹ 23,11,795 ₹ 48,11,795
₹ 25,00,000 8.75% 18 ₹ 23,022 ₹ 24,72,808 ₹ 49,72,808
₹ 25,00,000 8.75% 19 ₹ 22,528 ₹ 26,36,320 ₹ 51,36,320
₹ 25,00,000 8.75% 20 ₹ 22,093 ₹ 28,02,264 ₹ 53,02,264

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

Year Principal Interest Balance Amount
1 ₹ 48,268 ₹ 2,16,845 ₹ 24,51,731
2 ₹ 52,665 ₹ 2,12,448 ₹ 23,99,065
3 ₹ 57,463 ₹ 2,07,650 ₹ 23,41,602
4 ₹ 62,697 ₹ 2,02,415 ₹ 22,78,904
5 ₹ 68,409 ₹ 1,96,704 ₹ 22,10,495
6 ₹ 74,641 ₹ 1,90,472 ₹ 21,35,854
7 ₹ 81,440 ₹ 1,83,673 ₹ 20,54,413
8 ₹ 88,859 ₹ 1,76,254 ₹ 19,65,554
9 ₹ 96,954 ₹ 1,68,159 ₹ 18,68,599
10 ₹ 1,05,786 ₹ 1,59,327 ₹ 17,62,813
11 ₹ 1,15,423 ₹ 1,49,690 ₹ 16,47,390
12 ₹ 1,25,937 ₹ 1,39,176 ₹ 15,21,452
13 ₹ 1,37,410 ₹ 1,27,703 ₹ 13,84,042
14 ₹ 1,49,927 ₹ 1,15,186 ₹ 12,34,114
15 ₹ 1,63,585 ₹ 1,01,528 ₹ 10,70,529
16 ₹ 1,78,487 ₹ 86,626 ₹ 8,92,042
17 ₹ 1,94,746 ₹ 70,366 ₹ 6,97,295
18 ₹ 2,12,487 ₹ 52,626 ₹ 4,84,808
19 ₹ 2,31,844 ₹ 33,269 ₹ 2,52,964
20 ₹ 2,53,124 ₹ 12,149 ₹ 0

## The Minimum EMI Offered by Tata Capital on Home Loans

Here are the monthly EMI payments for different home loan amounts from Tata Capital. These calculations use interest rates of 8.75% and 10.5% over 15 years:

Interest Rate of 8.75%

Interest Rate of 10.5%

10 lakh loan amount - ₹9,994 p.m.

10 lakh loan amount -  ₹11,054 p.m.

12 lakh loan amount - ₹11,993 p.m.

12 lakh loan amount -  ₹13,265 p.m.

15 lakh loan amount - ₹14,992 p.m.

15 lakh loan amount -  ₹16,581 p.m.

17 lakh loan amount - ₹16,991 p.m.

17 lakh loan amount - ₹18,792 p.m.

20 lakh loan amount - ₹19,989 p.m.

20 lakh loan amount -  ₹22,108 p.m.

## The Main Benefits of Using Tata Capital Home Loan EMI Calculator

Here are the main advantages of using home loan EMI calculator by Tata Capital:

• Financial Planning and Budgeting: The calculator helps estimate the monthly EMIs payable based on loan amount, tenure, and interest rate. This enables borrowers to assess loan affordability and choose the right loan parameters that fit their budget.
• Quick, Easy, and Accurate Calculations: The EMI calculator provides precise EMI estimates within seconds. This removes the need for manual calculations that can be time-consuming and error-prone. You also get reliable financial projections quickly to make informed decisions.
• Determine Loan Affordability: By calculating the EMI, you can assess whether the monthly payments are within your budget before applying for the home loan. This prevents taking on a loan commitment that may strain your finances.
• Anytime, Anywhere Access: Being an online tool, you can access the EMI calculator 24x7 from anywhere using just an internet connection. This offers flexibility and convenience.
• Completely Free to Use: Tata Capital's home loan EMI calculator is absolutely free, so you can use it as many times as needed without any cost.

## Tata Capital Home Loan Eligibility

To qualify for a home loan, applicants must fulfill the following criteria:

For Salaried Individuals:

• Age Requirement: Applicants should be between 24 and 65 years old by the time the loan is fully repaid.
• Income Requirement: A minimum monthly income of ₹30,000 is required.
• Work Experience: Applicants must have at least 2 years of work experience.

For Self-employed Individuals:

• Age Requirement: Applicants must be between 24 and 65 years old at the completion of the loan.
• Business Experience: Applicants should have a minimum of 3 years of experience in their current business.

## Factors that Determine Tata Capital Home Loan EMIs

When setting the EMIs for a Tata Capital home loan, several key elements influence the calculations:

• Borrower’s Income: The borrower’s monthly income helps determine the loan amount they can afford, impacting the EMI. Higher-income can support larger EMIs, allowing for a shorter loan tenure or a bigger loan amount.
• Existing Financial Obligations: The current debt obligations of the applicant, such as other loans or credit card debts, are considered to assess their repayment capacity. Higher existing debts may result in smaller loan eligibility and potentially higher EMIs to accommodate a shorter repayment term.
• Employment Stability: The stability and nature of the borrower’s employment can influence lender confidence and loan terms. Stable employment in a reputable organization might help secure more favorable loan conditions, including potentially lower interest rates.
• Age of Borrowers: The age at the time of applying for the loan and at the end of the loan tenure also plays an important role in determining the home loan EMIs. Younger borrowers might get longer repayments, influencing the EMI size.
• Down Payment: The upfront amount can significantly reduce the principal amount that needs financing, lowering the EMI. A larger down payment can also influence the interest rate offered.

## Tata Capital Home Loan Fees and Charges

Here are the fees and charges related to home loans offered by Tata Capital:

 Processing Fees 0.5% of the loan amount onwards + GST Penal Interest Rate Extra 2% on the applicable rate for the duration of the delay Prepayment/Foreclosure Charges NIL for own-source payments, 2% for non-individuals, and balance transfer on fixed-rate

## Limitations of Using Tata Capital Home Loan EMI Calculator

Here are the main challenges that you may encounter while using the Tata Capital home loan EMI calculator:

• Credit Score Impact: The EMI calculator does not consider the applicant’s credit score, which can influence the actual interest rate offered by the lender and, consequently, the EMI.
• Excludes External Costs: It often does not account for additional expenses associated with buying a home such as registration fees, stamp duty, and legal fees, which can significantly affect the overall budget.
• Insurance and Other Charges: It may not include other costs like property insurance or loan protection insurance premiums that lenders might require. This can impact the total loan cost.
• No Advice on Loan Terms: The calculator does not provide recommendations or advice on choosing loan terms based on financial stability or long-term financial goals.
• Dependence on Accurate Input: The accuracy of the EMI calculated depends entirely on the accuracy of the input values for loan amount, tenure, and interest rate. Any error in these inputs can lead to misleading EMI calculations.