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Is Tata Capital Personal Loan Interest Rate Affordable?

Yes, Tata Capital Personal Loan Interest Rate is affordable and will come in your income range. So you don’t need to worry about the loan repayment. Tata Capital provides you an attractive personal loan up to INR 25 lakh at an interest rate starting from 10.99% per annum. The Tata Capital Personal Loan Interest Rate will remain fixed during the tenure, so your EMI will be paid smoothly. Let’s know more about Tata Capital Personal Loan Interest Rate and its repayment in this article below.

Factors That Will Determine Your Tata Capital Personal Loan Interest Rate!

While applying for a Tata Capital Personal, you should take care of the following factors if you want to grab an affordable interest rate -

  • Debts - Ensure you pay all your debts without any due or default. Because a good credit history might help you get the lowest Tata Capital Personal Loan Interest Rate. So when you are applying for a personal loan at Tata Capital, do check your credit report to see whether you have repaid your previous loan and credit card bills on time or not. 

  • CIBIL Score - Your CIBIL score should be a minimum of 750 if you want to apply for Tata Capital Personal Loan, so do check your CIBIL before applying for the loan. A good CIBIL score will increase your creditworthiness and this can also help you reduce the interest rate.

  • Loan Application - Don’t apply for loans simultaneously, because this might impact your CIBIL score negatively. 

  • Co-applicants - If you want to enhance your eligibility for Tata Capital Personal Loan, you can borrow this loan jointly. A co-borrower, which can be your spouse or parent who has a good income and credit score will boost your eligibility and also a low Tata Capital personal loan interest rate will apply to your borrowed loan amount.

  • Repayment Tenure - Select a suitable repayment tenure from 12 to 72 months which helps you get affordable EMI and less interest payout.

Use Tata Capital Personal Loan EMI Calculator to Decide the Repayment Tenure!

You can use the Tata Capital Personal Loan EMI Calculator to find the approximate EMI and interest amount that you’ll be paying for the borrowed loan amount. To use this calculator, you need to follow the instructions below:-

  • Visit Tata Capital official website

  • Select ‘Personal Loans’ 

  • Click the ‘EMI Calculator’ button

  • Enter your loan amount, interest rate and select the tenure

For example:-

Karan is a salaried MNC employee who needs a lumpsum of money for his family vacation. So a friend told him about the Tata Capital Personal Loan, and Karan applied for the same. And because of his good repayment history and high CIBIL score, Karan is successful in getting a Tata Capital Personal Loan Interest Rate of 11.30% per annum. So Karan uses the Tata Capital Personal Loan EMI Calculator to find his approximate EMI and interest payout. He enters the following details inside the calculator.

  • Loan amount - INR 5 lakh

  • Interest rate - 11.30% per annum

  • Tenure - 48 months

Now let’s see the Tata Capital Personal Loan EMI Calculator result -

  • EMI Amount - INR 12,996

  • Total Payable Interest - INR 1,23,795

  • Total Payable Amount (Principal + Interest) - INR 6,23,795
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