The Federal Bank Business Loan Calculator is a simple tool present online that helps you with your borrowing journey. When using the calculator, you must enter information such as loan amount, applicable interest rate, and tenure. After you've entered all the information, the calculator generates the EMI amount you'll need to pay. You can also experiment with different parameters to find the best EMI option for your budget.
This guide will guide you through the Federal Bank Business Loan EMI Calculator in more detail, including its benefits, features, and how you can employ it to plan your business loan.
Federal Bank Business EMI Loans Calculator: Features
The Federal Bank business loan EMI calculator has numerous attractive features. When a user operates the calculator, they may encounter its following features:
- The calculator has a user-friendly interface that even a novice can use.
- It displays results in a timely and trouble-free manner.
- The calculations for the business loan components are performed in real-time, making it less time constraining.
- The calculator gives immediate and precise results.
- This instrument assists borrowers in effectively anticipating expenses and repayments.
- User-friendly interface enables the borrowers to conduct an in-depth analysis of various interest rates, loan amounts and loan terms.
- You can get an amortisation schedule to help you understand your repayment amount and help you gain deeper insight into your financial standing.
Calculating Federal Bank Business Loan Online: Benefits
The benefits of using the business loan EMI calculator Federal Bank are given below:
- The calculator is available online, making it accessible and usable from any location, at any time, and on any device.
- The calculator is more convenient and accurate than manually calculating the result.
- As previously stated, you must be aware of your borrowing capacity prior to requesting a loan. It allows you to draw comparisons of the various amounts based on various interest rates.
- The interest rate, loan amount, and loan term must all be entered. The EMIs are calculated with merely a click.
- It is time-efficient as there is no manual calculation involved.
- Federal Bank Business Loan Calculator includes an in-depth amortisation schedule that includes the principal amount, date, EMI, and applicable interest for the duration of the loan. It is available monthly. For example, if you select a term of ten years, the schedule will include information worth 120 months.
Federal Bank Business Loan EMI Calculator Formula and How It Works
The Federal Bank Business Loan EMI Calculator works by taking into account the three factors listed below:
- Loan Amount: The basic amount borrowed by the applicant under the loan terms. Your Equated Monthly Instalment (EMI) will increase with the loan amount.
- Loan Tenure: The time period over which the borrower must repay the loan amount with the rate of interest. Because the loan is repaid in EMI, the term is generally expressed in months rather than years.
- Rate of Interest: The rate of interest charged on the loan amount. The rate of interest is determined by the applicant's loan amount, credit history, and loan tenure.
The calculator uses the following formula to calculate your business loan’s EMI:
EMI = P * R * (1 + R)n/ (1 + R)n-1
- ‘P’ is the principal loan amount
- ‘n’ is the repayment tenure
- ‘R’ is the interest rate applicable
Things to Know While Calculating Federal Bank Business Loan
The following points must be considered while calculating the Federal bank business loan EMI. These factors play an essential role in determining the EMI.
This is the time frame in which the borrower must repay the loan amount plus interest. The longer the loan term, the more you will have to pay back because the loan is repaid over a longer period of time, and the interest and EMI component rises. As a result, the borrower should select an appropriate loan tenure during which they will repay the loan amount.
The borrowed loan amount has a significant impact on the business loan EMI. Banks and other financial institutions typically approve applications for small loans at low-interest rates. The banks hesitate to grant large loan amounts if the risk involved is high.
Rate of Interest
The interest rate is the Federal Bank's fee on the borrowed loan amount. It specifies the amount to be repaid at the term’s end. A good CIBIL score enables you to avail of a lower rate of interest and vice-versa. If you succeed in securing a lower-interest-rate business loan, your EMI will also be reduced. Conveniently, an increase in interest rates will increase the EMI amount.
Federal Bank Business Loan Amortisation Calculator
The Federal Bank Business Loan EMI calculator provides an in-depth amortisation schedule with respect to loan repayment. The following amortisation schedule is made with the principal amount being INR 15 lakhs, the rate of interest being 11.10% pa and the repayment tenure being 36 months.
|Month||Principal (INR)||Interest (INR)||Principal + Interest (INR)||Balance to be Paid (INR)|
Quick Way To Get a Business Loan From Federal Bank
Urban Money is an online platform that simplifies the process of getting a loan. It offers a quick loan opting process at the best interest rate and security. The following steps must be followed as a quick way to get a business loan from Federal Bank using the Urban Money website.
- Surf the official website of Urban Money
- On the top panel of the homepage, locate ‘Loans’ and select the ‘Business loan’ option from the drop-down menu.
- Enter your details like full name, mobile number, city, and the type of enquiry and choose the ‘Enquire Now’ option.
- A representative of Urban Money will contact you and guide you through the further process of taking a business loan.
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Federal Bank's Ifsc Codes
- Federal Bank Andhra Pradesh
- Federal Bank Assam
- Federal Bank Bihar
- Federal Bank Chandigarh
- Federal Bank Chhattisgarh
- Federal Bank Gujarat
- Federal Bank Haryana
- Federal Bank Jammu and Kashmir
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- Federal Bank Karnataka
- Federal Bank Kerala
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- Federal Bank Maharashtra
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- Federal Bank Punjab
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- Federal Bank Tamil Nadu
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- Federal Bank Uttarakhand
- Federal Bank Uttar Pradesh
- Federal Bank West Bengal
- Axis Bank Business Loan Calculator
- ICICI Bank Business Loan Calculator
- HDFC Bank Business Loan Calculator
- Bank of Baroda Business Loan Calculator
- Canara Bank Business Loan Calculator
- Union Bank of India Business Loan Calculator
- State Bank of India Business Loan Calculator
- IndusInd Bank Business Loan Calculator
- Punjab National Bank Business Loan Calculator
- YES Bank Business Loan Calculator
- IDBI Bank Business Loan Calculator
- CITI Bank Business Loan Calculator
- IDFC FIRST Bank Business Loan Calculator
- Deutsche Bank Business Loan Calculator
- RBL Bank Business Loan Calculator
- DCB Bank Business Loan Calculator
- Kotak Bank Business Loan Calculator
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Frequently Asked Questions (FAQs)
What is the rate of interest on business loans in Federal Bank?
The rate of interest on business loans in Federal Bank starts from 11.10% pa.
Can I get a business loan of 10 lakhs from the Federal Bank?
Yes, you can get a business loan of 10 lakhs from the Federal Bank.
What is the EMI calculation formula for a business loan from a Federal Bank?
The EMI calculation formula for a business loan from Federal Bank is – EMI = P x R x (1 + R) ^ n / ((1 + R) ^ n-1).
Will business loan EMI change in case of pre-payment in Federal Bank?
No, business loan EMI will not change in case of pre-payment in Federal Bank.
Why should I calculate Federal Bank business loan EMI before taking a loan?
You should calculate Federal Bank business loan EMI before taking a loan to get an estimate of the required payment you will have to make each month.
What is the Federal Bank business loan processing fee?
The processing fee of the Federal Bank business loan is up to 3% of the loan amount.
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