Urban Money

Federal Bank Home Loan Calculator

  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

The Federal Bank Home Loan Calculator is a tool that allows you to calculate your monthly mortgage payments based on the loan amount, interest rate, and loan term. To use the calculator, you will need to enter information that includes the loan amount, which is the amount of money you are borrowing to purchase your home, interest rate, which is the annual interest rate on your loan, and loan term, which is the length of time in years that you will be paying off your loan. Once you have entered this information, the calculator will calculate your monthly mortgage payments, including the principal and interest portion of the payment. It will also show you the total interest you will pay over the loan tenure.

What are the Features and Benefits of Using the Federal Bank Home Loans EMI Calculator? 

Some of the key features and benefits of using a Federal Bank Home Loan EMI Calculator are as follows:

  • Easy to Use: The Federal Bank Home Loans EMI Calculator is user-friendly and easy to use, allowing customers to calculate their EMI in just a few clicks.
  • Accurate Results: The calculator uses advanced algorithms to provide accurate and reliable EMI calculations based on the entered loan amount, interest rate, and loan tenure.
  • Customizable: The calculator allows customers to adjust the loan amount, interest rate, and loan tenure to suit their needs and financial situation.
  • Amortization Schedule: The calculator provides customers with an amortisation schedule, which shows the breakdown of the EMI payments over the loan tenure.
  • Comparison Tool: The calculator also includes a comparison tool, which allows customers to compare different loan options and select the best one for their needs.
  • No Obligation: The use of the EMI calculator is free of cost, and customers are under no obligation to take a loan from Federal Bank after using the calculator.
  • Convenience: The calculator can be accessed anytime, anywhere, with the help of an internet connection, providing customers with the convenience of calculating their EMI from the comfort of their home.

How Federal Bank Home Loan Calculator Works & Formula?

A Federal Bank home loan calculator is a tool that helps borrowers calculate the estimated monthly instalments and overall interest payable on their home loan. The calculator considers the loan amount, interest rate, and tenure to estimate the EMI and total interest payable.

The formula for calculating the EMI is:

EMI = P x r x (1+r)^n/((1+r)^n-1)

Where,

  • P = Loan amount
  • r = Interest rate (in decimal form)
  • n = Loan tenure (in months)

The formula for calculating the total interest payable is:

Total Interest Payable = (EMI x (n - 1)) - P

To use the Federal Bank home loan calculator, the borrower would need to input the loan amount, interest rate, and loan tenure, and the calculator will automatically calculate the EMI and total interest payable. This allows borrowers to easily compare different loan options and choose the best fit their financial needs and budget.

How Does EMI Calculation Help in Planning the Home Purchase?

EMI (Equated Monthly Installment) calculation helps plan the home purchase by providing an estimate of the monthly payments required to repay the loan. This information is essential for budgeting and determining how much of a home purchase one can afford. The EMI calculation considers the loan amount, interest rate, and loan tenure, allowing buyers to compare different loan options and choose the best suits their needs and budget. The EMI calculation can help buyers plan for future expenses and ensure they have enough money to make their monthly loan payments.

Factors Affecting Federal Bank Home Loan EMI

Several factors can affect the EMI (equated monthly instalment) for a home loan from a federal bank. These include:

  • Loan amount: The higher the loan amount, the higher the EMI.
  • Interest rate: A higher home loan interest rate will result in a higher EMI, while a lower interest rate will result in a lower EMI.
  • Loan tenure: A longer loan tenure will result in lower EMIs, while a shorter loan tenure will result in higher EMIs.
  • Processing fees: Some banks may charge processing fees, which can add to the overall cost of the loan and affect the EMI.
  • Other charges: Some banks may also charge other fees, such as legal charges, documentation charges, etc., which can also affect the EMI.
  • Credit Score: An individual with a higher credit score may be able to negotiate a lower interest rate, which in turn will lower the EMI.

Federal Bank Home Loan Amortisation Schedule?

An amortisation schedule for a home loan from Federal Bank would show the breakdown of payments made over the life of the loan. It would include the following information:

  • The loan amount
  • The interest rate
  • The term of the loan (in months or years)
  • The monthly payment amount
  • The amount of the payment that goes towards interest and the amount that goes towards the principal
  • The remaining balance of the loan after each payment

The amortisation schedule would continue to show the breakdown of payments and the remaining balance for each month until the loan is fully paid off.

Federal Bank Home Loan EMI for INR 10 Lakh

The table shows the calculation of EMI using a Federal Bank Home Loan EMI calculator for an amount of INR 10 Lakhs for a tenure of 10 years. The applied interest rate is 10% per annum.

Year Principal Interest Principal + Interest Balance to be Paid
1 INR 61,342 INR 97,239 INR 158,581 INR 938,658
2 INR 67,765 INR 90,816 INR 158,581 INR 870,893
3 INR 74,861 INR 83,720 INR 158,581 INR 796,032
4 INR 82,700 INR 75,881 INR 158,581 INR 713,332
5 INR 91,360 INR 67,221 INR 158,581 INR 621,972
6 INR 100,926 INR 57,655 INR 158,581 INR 521,046
7 INR 111,495 INR 47,086 INR 158,581 INR 409,551
8 INR 123,170 INR 35,411 INR 158,581 INR 286,382
9 INR 136,067 INR 22,514 INR 158,581 INR 150,315
10 INR 150,315 INR 8,266 INR 158,581 0

Federal Bank Home Loan EMI for INR 20 Lakh

The table shows the calculation of EMI using a Federal Bank Home Loan EMI calculator for an amount of INR 20 Lakhs for a tenure of 10 years. The applied interest rate is 10% per annum.

Year Principal  Interest Principal + Interest Balance to be Paid
1 INR 122,684 INR 194,478 INR 317,162 INR 1,877,316
2 INR 135,530 INR 181,632 INR 317,162 INR 1,741,786
3 INR 149,722 INR 167,440 INR 317,162 INR 1,592,064
4 INR 165,400 INR 151,762 INR 317,162 INR 1,426,664
5 INR 182,719 INR 134,442 INR 317,162 INR 1,243,945
6 INR 201,853 INR 115,309 INR 317,162 INR 1,042,092
7 INR 222,989 INR 94,173 INR 317,162 INR 819,103
8 INR 246,339 INR 70,823 INR 317,162 INR 572,764
9 INR 272,134 INR 45,028 INR 317,162 INR 300,630
10 INR 300,630 INR 16,532 INR 317,162 0

Federal Bank Home Loan EMI for INR 25 Lakh

The table shows the calculation of EMI using a Federal Bank Home Loan EMI calculator for an amount of INR 25 Lakhs for a tenure of 10 years. The applied interest rate is 10% per annum.

Year Principal Interest  Principal + Interest Balance to be Paid
1 INR 153,355 INR 243,098 INR 396,452 INR 2,346,645
2 INR 169,413 INR 227,039 INR 396,452 INR 2,177,233
3 INR 187,153 INR 209,300 INR 396,452 INR 1,990,080
4 INR 206,750 INR 189,702 INR 396,452 INR 1,783,330
5 INR 228,399 INR 168,053 INR 396,452 INR 1,554,931
6 INR 252,316 INR 144,137 INR 396,452 INR 1,302,615
7 INR 278,736 INR 117,716 INR 396,452 INR 1,023,879
8 INR 307,924 INR 88,528 INR 396,452 INR 715,955
9 INR 340,167 INR 56,285 INR 396,452 INR 375,787
10 INR 375,787 INR 20,665 INR 396,452 0

Federal Bank Home Loan EMI for INR 30 Lakh

The table shows the calculation of EMI using a Federal Bank Home Loan EMI calculator for an amount of INR 30 Lakhs for a tenure of 10 years. The applied interest rate is 10% per annum.

Year Principal Interest Principal + Interest Balance to be Paid
1 INR 184,026 INR 291,717 INR 475,743 INR 2,815,974
2 INR 203,295 INR 272,447 INR 475,743 INR 2,612,679
3 INR 224,583 INR 251,160 INR 475,743 INR 2,388,096
4 INR 248,100 INR 227,643 INR 475,743 INR 2,139,996
5 INR 274,079 INR 201,663 INR 475,743 INR 1,865,917
6 INR 302,779 INR 172,964 INR 475,743 INR 1,563,138
7 INR 334,484 INR 141,259 INR 475,743 INR 1,228,654
8 INR 369,509 INR 106,234 INR 475,743 INR 859,146
9 INR 408,201 INR 67,542 INR 475,743 INR 450,945
10 INR 450,945 INR 24,798 INR 475,743 0

Federal Bank Home Loan EMI for INR 50 Lakh

The table shows the calculation of EMI using a Federal Bank Home Loan EMI calculator for an amount of INR 50 Lakhs for a tenure of 10 years. The applied interest rate is 10% per annum.

Year Principal Interest Principal + Interest Balance to be Paid
1 INR 306,709 INR 486,195 INR 792,904 INR 4,693,291
2 INR 338,826 INR 454,079 INR 792,904 INR 4,354,465
3 INR 374,305 INR 418,599 INR 792,904 INR 3,980,160
4 INR 413,500 INR 379,405 INR 792,904 INR 3,566,660
5 INR 456,799 INR 336,106 INR 792,904 INR 3,109,862
6 INR 504,631 INR 288,273 INR 792,904 INR 2,605,230
7 INR 557,473 INR 235,432 INR 792,904 INR 2,047,757
8 INR 615,848 INR 177,057 INR 792,904 INR 1,431,910
9 INR 680,335 INR 112,570 INR 792,904 INR 751,575
10 INR 751,575 INR 41,330 INR 792,904 0

Comparison of Federal Bank Home Loan EMI For INR 50 Lakhs

The table provided below showcases the comparison of Federal Bank Home Loan EMI for an amount of INR 50 Lakhs for different tenures.

Loan Amount  Interest Rate  Tenure  EMI 
50,00,000 9.95% - 10%  INR 1,06,235
50,00,000 9.95% - 10% 10  INR 66,075
50,00,000 9.95% - 10% 15 INR 53,730
50,00,000 9.95% - 10% 20  INR 48,251
50,00,000 9.95% - 10% 30 INR 43,879 

Comparison of Federal Bank Home Loan Interest Rates with other Lending Institutions. 

The following table compares Federal Bank Home Loan Interest Rate with other banks and lenders.

Bank  Interest Rate 
Federal Bank 9.90% Onwards
Union Bank of India  8.25% Onwards
HDFC Bank 8.60% Onwards 
SBI Bank 8.70% Onwards 
ICICI Bank  8.65% Onwards
Axis Bank  8.65% Onwards 

Frequently Asked Questions (FAQs)

What happens if Federal Bank home loan EMI is missed?

If there is a delay in the EMI payment, you will be required to pay a penalty of delayed repayment. The charges applicable are 2% per month of the overdue amount.

Can I change my housing loan EMI date for Federal Bank?

Yes, you can change your housing loan EMI date for Federal Bank. You can contact the bank’s customer service department and request to change the EMI date. They may require you to submit a written request and any necessary documents. It is important to note that a fee may be associated with changing the EMI date.

How does your home loan repayment work in Federal Bank?

In Federal Bank, the borrower must make regular monthly payments towards the loan principal and interest. The repayment period can range from 12 to 240 months, depending on the loan amount and the borrower’s eligibility. Moreover, the borrower can make payments through various modes such as ECS, NACH, or Standing Instruction.

What is the interest rate on housing loans in Federal Bank?

The Federal Bank’s interest rate on a housing loan is 9.90% onwards.

What is the Federal Bank home loan processing fee?

The processing fee for a Federal Bank home loan is 0.50% of the limit sanctioned with a min of INR 10000 and a maximum of INR 45,000.

Why should I calculate Federal Bank housing loan EMI before taking a loan?

Calculating the Federal Bank housing loan EMI before taking a loan is essential for several reasons, including budgeting, interest rate calculation, determining repayment period, considering prepayment options, etc.