Urban Money

Federal Bank Loan Against Property (LAP) 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 Loan against property EMI calculator is an AI-powered tool that allows users to compute the EMI amount on their Loan Against Property. One can derive the monthly repayment amount from the comfort of their home. The Federal Bank LAP EMI calculator entails a straightforward dashboard allowing users to conveniently input values. Users can calculate and compares multiple values that complement their budgetary goals.

The Federal bank is one of the most renowned financial institutions operating in the Indian Banking sector. The bank has designed various financial and investment products to cater to the country's customer base. One can avail of lucrative interest rates on this loan product, owing to the secured nature of the loan. Borrowers can utilise the funds raised for weddings, higher education, and medical emergencies. 

Why Should You Use Federal Bank LAP EMI Calculator?

The Federal Bank Loan Against Property EMI Calculator allows the borrower to compute the EMI amount against the loan. The Federal Bank LAP EMI calculator provides the following benefits to the user:

  • Federal Bank LAP EMI Calculator enables the user to facilitate real-time calculations. An individual can obtain values on the calculator after mentioning details such as the loan amount, interest rate, and tenure.  
  • The calculator is easily accessible as it features a straightforward interface where the user can input the required values to derive the repayment and the EMI amount. 
  • The applicant is also provided with a detailed breakdown of the repayment, as one can conveniently review the EMI amount during different tenure periods. It also provides information to the user regarding the composition of the interest and principal in the EMI. 

Estimating EMIs through Federal Bank Loan Against Property Calculator 

The calculator allows the user to input multiple values on the field and calculate the EMI amount on the Loan Against Property at different tenures and loan amounts.

The following table showcases the EMI amount derived at varying tenures and loan amounts. The interest rate for the Federal Bank LAP is 12.35% per annum.

Amount Tenure
10 Years 15 Years 20 Years
Rs 20 Lakhs Rs 29,100  Rs 24,456 Rs 22,512 
Rs 25 Lakhs  Rs 36,375 Rs 30,569 Rs 28,150
Rs 30 Lakhs  Rs 43,650  Rs 36,368  Rs 33,768 
Rs 40 Lakhs Rs 58,201 Rs 48,911 Rs 45,023

Factors Affecting Federal Bank Property Loan EMI 

The Federal Bank Loan against Property is a secured loan which provides an avenue for the borrowers to obtain funds against the collateral pledged. The EMI amount is prone to be impacted by the following factors:

Loan Amount 

The Federal Bank LAP EMI amount would be directly proportional to the Loan amount. If an individual borrows a substantial loan amount, they must make large monthly repayments against the loan.

Interest Rate 

Interest is the fee the bank charges for the loan. A higher interest rate would increase the cost of the loan. It is essential that the borrower compares the varying interest rates available in the market and select the scheme that suits their budgetary goals for the loan. 

Loan Tenure 

The loan repayment tenure is inversely proportional to the EMI amount. A lengthy loan tenure makes the loan repayment manageable. It allows the borrower to spread out the monthly repayments against the loan. 

Comparison of Federal Bank Loan Against Property EMI with other Banks

The following table showcases a comparison of Federal Bank Loan Against Property EMI with other financial institutions.

Banks  Interest Rates (Per Annum)  
Federal Bank  12.35% Onwards
YES Bank  12% onwards 
SBI  9.00% - 11.90%  
India Bulls  9.25% onwards
Karur Vysya Bank  9.25% onwards
Indian Overseas Bank  9.65% onwards 
HSBC Bank  9.80% onwards 
ICICI Bank  9.75% - 10.90% 
Axis Bank  9.00% - 10.35% 
Kotak Mahindra Bank  9.50% - 11.70% 

Federal Bank Loan Against Property Amortisation Calculator

The Federal Bank LAP EMI Calculator provides a comprehensive breakdown of the principal and interest amount. The amortisation schedule provides a thorough account of the repayment throughout the tenure. One can review the outstanding balance during a particular period in the tenure to plan and budget the loan. Let us take an example for a better understating.

Suppose you’ve taken out a loan against property from the Federal Bank for Rs 20 Lakhs. The loan repayment tenure is ten years, and the rate of interest on the loan is determined at 12.35% per annum. The amortisation schedule for the loan against the property would be:

Year  Interest  Principal  EMI  Outstanding Balance 
2023 20,00,000 1,08,191.89 29,100.30 1,891,808.11
2024 18,91,808.11 122,336.46  29,100.30 1,769,471.63
2025 17,69,471.63  138,330.26  29,100.30 1,631,141.36
2026 16,31,141.36 156,415.04  29,100.30 1,474,726.33
2027 14,74,726.33 176,874.10 29,100.30 1,297,862.22
2028 12,97,862.22 199,986.62 29,100.30 1,097,875.58
2029 10,97,875.58  123,071.49 29,100.30 871,743.48
2030 871,743.48 93,507.89  29,100.30 616,047.75
2031 616,047.75  60,079.24  29,100.30 326,923.37
2032 326,923.37  22,280.23 29,100.30 0

Federal Bank Loan Against Property Fees and Charges

The Federal Bank levies the following fee and charges to process the Loan Against Property.

Processing Fee 1% of the loan amount sanctioned 
Foreclosure and Prepayment Charges -
Registration Charges - CERSAI  Nil 
Switching for Fixed to Floating Interest Rates and Vice Versa  0.25% of the outstanding balance 

Frequently Asked Questions (FAQs)

How much loan can I get against my property from Federal Bank?

The loan amount on loan against property from the Federal Bank varies from application to application.

What is a loan's interest rate against property in Federal Bank?

The Federal Bank LAP EMI interest rate varies based on the application. Generally, it commences from 12.35% per annum.

Is a Federal Bank loan against my property available in my city?

The Federal Bank have around 1,336 branches spread across the country to cater to the financial requirements of customers in India.

How is the interest rate on loan against property calculated in Federal Bank?

The Federal Bank evaluates the CIBIL score and property value to compute the interest rate on the Loan against property.

What is the tenure of the LAP in Federal Bank?

The tenure on the Federal Bank LAP for a term loan is up to 120 months.