The capacitance of MgO based magnetic tunnel junctions (MTJs) has been observed to be magnetic field dependent. We propose an equivalent circuit for the MTJs with a parallel-leaky capacitance (Cl) across the series combination of geometric and interf
acial capacitance. The analysis of junctions with different tunneling magnetoresistance values suggests higher Cl for low TMR junctions. Using Cole-Cole plots the capacitive nature of MTJs is manifested. Fitting with Maxwell-Wagner capacitance model validates the RC parallel network model for MTJs and the extracted field dependent parameters match with the experimental values.
