Let us understand what is a Tata Capital Business Loan Foreclosure Calculator?
A Tata Capital Business Loan Foreclosure Calculator is used in the calculation of your balance loan foreclosure amount as well the interest saved as a result of loan foreclosure. So a Pre-payment Calculator basically helps you in evaluating the effects of early repayment of the pending loan amount on your finances like your tenor, resultant EMI etc.
How to use the Tata Capital foreclosure calculator?
Calculating the Tata Capital foreclosure loan amount with the help of a foreclosure calculator is a simple process that aids in the calculation of the pending balance of the loan amount along with the interest payment by calculating pending installments. A Tata Capital foreclosure calculator does the pre payment calculations based on the below details:
The tata capital foreclosure calculator will consider all of the above factors and calculate the final amount that is to be paid by the borrower in the pre payment process.
How does the tata capital Loan Foreclosure Calculator work?
The tata capital business loan foreclosure calculator offers a simple and efficient way to calculate the foreclosure amount and outstanding principal at the time of foreclosure based on the charges by the tata capital. It also calculates the interest amount you can save by foreclosing on a business loan.
Here are the various inputs you need to enter in the calculator-
- 1. Loan amount: Enter the principal loan amount borrowed from
the lender
- 2. Interest: This is the annual interest rate applicable to
your loan.
- 3. Tenure: The tenure of the loan is the total period
accepted by the borrower to repay the loan.
- 4. Months of foreclosure: Months of foreclosure will determine
the number of months after which you have decided to close the loan. This helps
to
determine the EMIs paid to date and calculate the principal repaid and interest
amount accrued.