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Personal Loan EMI

Personal Loan EMI or Equal Monthly Instalment is the amount that you need to pay every month for repaying your principal loan amount at the applicable rate of interest over the chosen loan tenure. It is the sum of the principal component and interest component.

The 3 How’s of deciding the right EMI

  • How soon do you want to pay off the Personal Loan?

  • How much can you afford to pay in a month?

  • How much of an interest rate are you comfortable with?

How to choose the right EMI option?

To be able to make the right choice among personal loan EMI options – standard
EMI and flexi personal loan, you need to consider the following questions -

How Soon Do You Want to Pay Off Personal Loan?

If you are financially able or are expecting a future salary hike, you should aim at paying off your personal loan EMI early – choose shorter loan tenure. This is because the longer the tenure, the more the personal loan interest that will be charged. By reducing the tenure, you can not only enjoy reduced interest amount but also be able to pay off your loan early. Flexi personal loan interest rates are usually lower than the standard option.

How Much EMI Can You Afford to Pay in a Month?

One of the most critical factors to consider while choosing an EMI option is your budget. Jot down all your monthly commitments and deduct them from your monthly income to deduce the residual income. Based on what is left over, you can decide whether the standard or flexi personal loan EMI option works best for you.

How much of an Interest Rate are you Comfortable with?

Flexi personal loans usually come with lower interest rates as compared to standard EMI options. But, under standard EMI, you can withdraw and use up the entire loan amount borrowed whereas under flexi personal loan EMI, this cash outflow is capped. Depending on whether or not you are comfortable paying a higher rate of interest and your unique needs, you should choose between the standard and flexi personal loan EMI option that serves you best. You should choose flexi personal loan interest rates if you're looking for low EMIs.

Which EMI Option is suitable for you?

Choosing the right EMI option is a critical decision that you’ll have to make while taking a Personal Loan. But, we’ve made it easy for you. Just choose from one of our available EMI options that cater to your needs, your timeline and your budget.

Standard EMI Plan

Standard EMI Plan allows you to pay the principal amount along with the interest consistently for your defined tenure.

Standard personal loan meaning-

  • EMI amount remains the same for the entire personal loan period

  • Standard plan

Ideal if you have a regular income

Step Up Flexi Personal Loan EMI Plan

To choose the best option for you, it's important to first understand the flexi loan meaning. A Step-up Flexi Personal Loan EMI Plan offers great flexibility. This repayment option allows you to pay lower EMIs at the beginning and as your salary increases, you pay higher EMIs.

Flexi personal loan meaning-

  • Pay more when you can afford

  • Helps to manage income flow efficiently

Ideal if you expect your income to increase at regular intervals

How much EMI do you need to pay?

Your Equated Monthly Instalment depends on the principal loan amount, the interest rate charged and the period for which the loan is taken.

You can choose your personal loan EMI amount that is comfortable for you by using the Personal Loan EMI calculator.

Your EMI amount will depend upon your chosen Principal Amount, the Loan Tenure, the Rate of Interest, and the repayment option you choose- standard or flexi personal loan EMI option. Using a personal loan EMI calculator, you can choose the EMI amount you are comfortable with. 

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EMI Calculator

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What our customers say about us

Wonderful experience indeed connecting with TATA Capital.

AMAR SINGH

Personal Loan | 25 December, 2023

Tata capital's services is really good.

VIJAY DAS

Personal Loan | 22 December, 2023

Wonderful service.Whenever there is a need of money TATA capital is there !!!

HIMANSHU BORDOLOI

Personal Loan | 22 December, 2023

All support services very good. Thanks team Tata Capital.

MANISH KUMAR SHUKLA

Personal Loan | 19 December, 2023

Your service is best and easy to other bank comparison. Thank you Tata capital for fullfilling urgent need of loan.

RANJEETA KUMARI KUMARI

Personal Loan | 08 December, 2023

A good experience with Tata Capital. Less time taken for documentation also quick disbursement after approval. So thanks to Tata Capital.

Madhuri Pradip Khot

Personal Loan | 06 December, 2023

Customer service is too good. They are very helpful and courteous. Is was a good experience with Tata Capital.

ALEXANDER KUJUR

Personal Loan | 02 December, 2023

The procedure was neat and speedy. The loan was disbursed within two days. Happy to choose Tata capital services.

SAVIOROZAR A

Personal Loan | 16 November, 2023

Excellent service. Communication skills was good and trustworthy service for customer.

YUVARAJ RAI

Personal Loan | 15 November, 2023

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