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Personal Loan Calculator

Personal Loan EMI

EMI stands for Equated Monthly Installments. It is the payment that you make for any loan undertaken for a fixed tenure. We provide flexible tenure ranging from 12 to 72 months to repay your personal loan. The EMI will include principal and interest payments made every month towards the repayment of the Personal loan. 

What does a Personal Loan EMI Stand for?

EMI stands for Equated Monthly Instalments. It is the payment that you give for any loan undertaken for a fixed tenure to pay off the loan. You can take any time between 12 to 72 months to repay your loan with Tata Capital. Your EMI will include principal and interest payments made every month towards the repayment of the Personal loan. Though the amount of EMI does not change, the percentage of principal & interest will change month on month. Initially, the interest is higher but gradually the principal payment is more. The exact percentage of principal and interest will depend on the interest rate charged and the tenure for which the loan is taken.

EMI Calculator

Pre-Payment Calculator

Types of Personal Loan Calculators

Personal loan calculator are tools that help you choose the right tenure for your personal loan. We provide two types of personal loan calculators -

  • Personal Loan EMI Calculator

Using this simple online personal loan calculator, you can easily know the EMI amount that you need to pay for your personal loan repayment. Just enter details such as the Loan Amount, Rate of Interest, and the Tenure of the Loan.

  • Personal Loan Pre-payment Calculator

If you have sufficient funds available, you can even apply for a loan pre-payment, partial or complete. To calculate the amount you are eligible to pre-pay, use a simple online tool such as the personal loan pre-payment calculator. All you need to do is enter in details such as the Loan Amount, the Tenure, the Rate of Interest, the Part Payment Amount, and the Payment Months. The calculator will then show the Revised EMI and the Revised Tenure on the remaining Principal Loan Amount. 

 

Benefits of a Personal Loan Calculator

A personal loan calculator helps you with accurate answers without involving manual calculations which can be prone to errors. The EMI calculator finds the correct EMI for your Personal loan in seconds. If you wish to make prepayment of your loan, the pre-closure calculator gives you the revised EMI and tenure in a few clicks.

FAQ

Two different types of calculators are available for personal loan, given as under –

  • Personal Loan EMI Calculator – used to calculate personal loan EMI

Personal Lon Pre-Payment Calculator – used to calculate the pre-payment eligibility of a personal loan

 A personal loan EMI calculator is a simple online tool using which you can easily get the accurate EMI amount that you need to pay toward the repayment of your personal loan.

A personal loan pre-payment calculator is a simple online tool using which you can get the exact amount of personal loan principal amount that you are eligible to pre-pay or pay in advance and the revised EMI and revised loan tenure.

In case of a personal loan EMI calculator, all you need to do is enter in details such as Loan Amount, Rate of Interest, and the Loan Tenure and the calculator would instantaneously show you the EMI amount that you need to pay monthly.

In case of a personal loan pre-payment calculator, all you need to do is simply enter details such as Loan Amount, Loan Tenure, Rate of Interest, Part-Payment Amount, and the Payment Months and the calculator will instantaneously show you the Revised EMI and the Revised Loan Tenure.

he following are the advantages of a personal loan calculator –

  • Faster Calculations – In contrast with painstaking, complex manual calculations, personal loan calculators give answers in a matter of milliseconds. 

  • Accuracy – Calculations made with pen and paper is often prone to errors, sometimes even glaring ones. Personal loan calculators give an accurate answer every single time! 

Easier Decision-Making – Since personal loan calculators are faster and more accurate, making a decision regarding principal loan amount or pre-payment amount becomes quicker and hassle-free

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