EMI Calculator 2018248 views
After availing the personal loan, if you are curious to know what would be your EMIs, all you need to know about a personal loan EMI Calculator. That’s Right! This smart and time-saving tool online is there to help you in the best way. It lets you know the exact calculations of your EMI and Interest Outgo in a hassle-free manner.
Loan Amount Interest Rate Tenure(Months) Monthly Instalment (EMI) Total Interest Amount Total Amount (Principal + Interest) Year Principal Interest Balance Amount
This device after taking into consideration:
- Loan Amount
- Interest Rate
- Tenure
Gives you the exact and precise results related to your Tata Capital Personal Loan EMI, Interest Outgo and Total Amount Payable. With its 24×7 availability, this device is absolutely easy to use and allows you to enjoy your personal loan journey.
Table of Contents
Tata Capital Personal Loan EMI Calculator
To have more clarity on the same, take the help from an example mentioned below
Suppose, Surbhi Jain, a 26-year-old Interior Designer by profession is looking for a personal loan of ₹5 Lakh to invest in her business. And, the best thing is that Tata Capital after reviewing her profile has agreed to offer her the loan at an interest rate of 11.49% per annum for a tenure of 5 years. So, let’s just know what would be the exact amount of monthly installment Surbhi needs to pay via looking at the calculations in the table below.
Table Showing EMI, Interest Outgo, and Total Repayment Amount EMI, Total Interest Outgo, Total Repayment (Interest + Principal)Loan Amount Interest Rate Tenure Monthly Instalment Total Interest Amount Total Amount ₹ 5,00,000 11.49% 1 ₹ 44,305 ₹ 31,662 ₹ 5,31,662 ₹ 5,00,000 11.49% 2 ₹ 23,418 ₹ 62,028 ₹ 5,62,028 ₹ 5,00,000 11.49% 3 ₹ 16,486 ₹ 93,483 ₹ 5,93,483 ₹ 5,00,000 11.49% 4 ₹ 13,042 ₹ 1,26,019 ₹ 6,26,019 ₹ 5,00,000 11.49% 5 ₹ 10,994 ₹ 1,59,628 ₹ 6,59,628 Year Principal Interest Balance Amount 1 ₹ 78,525 ₹ 53,400 ₹ 4,21,474 2 ₹ 88,038 ₹ 43,887 ₹ 3,33,435 3 ₹ 98,704 ₹ 33,221 ₹ 2,34,731 4 ₹ 1,10,662 ₹ 21,263 ₹ 1,24,068 5 ₹ 1,24,173 ₹ 7857 ₹ 0
Tata Capital Personal 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
