{"id":5928,"date":"2019-03-19T09:43:00","date_gmt":"2019-03-19T09:43:00","guid":{"rendered":"\/blog\/?p=5928"},"modified":"2024-12-31T16:48:21","modified_gmt":"2024-12-31T11:18:21","slug":"easy-loan-planning-with-personal-loan-calculator","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/personal-use-loan\/easy-loan-planning-with-personal-loan-calculator\/","title":{"rendered":"Easy Loan Planning with Personal Loan Calculator"},"content":{"rendered":"\n<p>A loan offers help for any cash\ncrunch, whether it is a medical emergency, funding wedding expenses, taking a\ndream vacation, or pursuing higher education, among many others. Banks and\nNon-Banking Financial Companies (NBFCs) offer numerous loan options to those\nseeking funds.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/personal-loan.html\">Know More About Personal Loan<\/a><\/div>\n\n\n\n<p>Borrowing a personal loan has many benefits. Lenders do not question the intent of taking such a loan and hence you may use the amount as per your needs. Besides, such loans are unsecured loans, thereby indicating that no collateral is needed as security against the loan. <\/p>\n\n\n\n<p><strong>Understanding Loan Calculator<\/strong><\/p>\n\n\n\n<p>While seeking a loan, it is\nimperative to identify the amount to borrow as well as the regular installments\nto be made towards repaying the loan. For this purpose, you may use a <a href=\"https:\/\/tata-blog.osian.dev\/personal-loans\/personal-loan-emi-calculator.htm\" title=\"Personal Loan Calculator\">personal loan calculator<\/a><strong>.<\/strong><\/p>\n\n\n\n<p>For instance, Ms. Simran Das\nneeded finance to fund her daughter\u2019s wedding. She was unsure of the amount she\ncould afford to borrow. Her friend advised her to use a loan calculator\navailable on her lender\u2019s website. By doing so, she was easily able to\ndetermine the amount she needed to borrow. She was also able to identify the\nEMI amount without any hassles. She was even able to view her outstanding\nbalance, payable interest, and other loan-related aspects quite easily.<\/p>\n\n\n\n<p>A loan calculator is a\ndigitized tool that helps you determine the amount you need to pay towards your\nEquated Monthly Installments (EMIs). For the purpose of calculation, you are required\nto enter details of the loan, namely your principal amount, the rate of\ninterest, and the loan tenure. You may adjust these parameters to get the EMI\namount based on your financial position. For example, you may increase the loan\ntenure to decrease the EMI amount and vice versa.<\/p>\n\n\n\n<p><strong>Using a Loan Calculator for Financial Planning<\/strong><\/p>\n\n\n\n<p>Just like Ms. Simran Das, you\ntoo may use a loan calculator to plan your repayment schedule in a smooth\nmanner. There are numerous advantages of using a loan calculator. Following are\nthree major benefits of doing so.<\/p>\n\n\n\n<p><strong>1. Aids in Budgeting your Repayment<\/strong><\/p>\n\n\n\n<p>Upon entering details of your\nprincipal amount, loan tenure, and rate of interest into the calculator, the\ntool displays the EMI amount. If the amount is too high, you may adjust the\ntenure accordingly to decrease your monthly repayment amount. Besides, you may\nalso adjust the principal amount in order to avoid any strain on your finances.\nBorrowing more than you are able to afford will exert financial pressure. Loan\ncalculators thereby help in identifying the right amount to be borrowed.<\/p>\n\n\n\n<p><strong>2. Helps you Select the Most Competitive Interest Rate<\/strong><\/p>\n\n\n\n<p>Loan calculators aid in\nidentifying the total interest payable over the period of the loan. You may\nenter a higher or a lower interest rate and view the impact it has on the\nrepayment amount. By selecting the most competitive interest rate, you may, in\nturn, reduce your EMI amount.<\/p>\n\n\n\n<p><strong>3. Identifies the Total Cost of the Loan<\/strong><\/p>\n\n\n\n<p>Personal loan calculators help identify the total cost of borrowing. This not only includes the rate of interest but also other fees such as processing charges, cancellation charges, legal charges, and part-payment charges, besides others. It provides a clearer picture of the total cost associated with borrowing the loan. <\/p>\n\n\n\n<p>Keep the aforementioned benefits in mind and use a calculator for easy loan planning. By doing so, you may manage your loan repayments quite easily and make sound financial decisions.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background wp-element-button\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/personal-loans\/apply-now-personal-loan#!\">Apply for Personal Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A loan offers help for any cash crunch, whether it is a medical emergency, funding wedding expenses.<\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/personal-loan\/easy-loan-planning-with-personal-loan-calculator\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5932,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-5928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-use-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Easy Loan Planning with Personal Loan Calculator - TATA Capital Blog<\/title>\n<meta name=\"description\" content=\"Explore how Tata Capital&#039;s Personal loan calculator can calculate your personal loan EMI effortlessly. Get accurate monthly EMI and interest details instantly!\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Easy Loan Planning with Personal Loan Calculator - TATA Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Explore how Tata Capital&#039;s Personal loan calculator can calculate your personal loan EMI effortlessly. Get accurate monthly EMI and interest details instantly!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/easy-loan-planning-with-personal-loan-calculator\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-19T09:43:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-31T11:18:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/pl-calculator.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/easy-loan-planning-with-personal-loan-calculator\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/easy-loan-planning-with-personal-loan-calculator\/\",\"name\":\"Easy Loan Planning with Personal Loan Calculator - TATA Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2019-03-19T09:43:00+00:00\",\"dateModified\":\"2024-12-31T11:18:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Explore how Tata Capital's Personal loan calculator can calculate your personal loan EMI effortlessly. 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