Federal Bank Personal Loan Calculator

Customers can use the Federal Bank personal loan calculators to determine their monthly loan payments and the total interest due on their loans. Customers may plan their budgets better and make knowledgeable loan decisions using the calculator. Easy-to-use personal loan calculators from The Federal Bank simplify the loan application procedure and offer transparency on loan terms and payments. The calculator allows users to quickly determine their eligibility for loans and EMI payments.

  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

A great way to compute your loan EMIs is to incorporate a Federal Bank Personal Loan Calculator. It is an excellent tool that can effectively calculate the loan expenses you must pay monthly to the lender. With the results generated from the Federal Bank personal loan EMI calculator, you can save valuable time and devise a well-structured repayment plan, thereby assisting you in being on point with your loan expenses. This piece will aid you in understanding the Federal Bank Loan calculator extensively.

Federal Bank Personal Loan Calculator - Key Features

The key features of a Federal Bank Personal Loan Calculator are:

  • Loan Amount: calculates the loan amount you are eligible for based on your income and repayment capacity.
  • Interest Rate: calculates the personal loan interest rate you will be charged on the loan amount based on your credit score, loan tenure, and other factors.
  • Repayment Tenure: calculates the loan repayment tenure based on the loan amount and the interest rate.
  • EMI (Equated Monthly Installment): calculates the monthly instalment you need to pay towards the loan repayment.
  • Prepayment and Foreclosure: The EMI calculator calculates the charges you must pay for prepaying or foreclosing the loan before the end of the repayment tenure.
  • Total cost of the loan: calculates the total cost of the loan, including the interest and other charges, based on the loan amount, interest rate, and repayment tenure.

Why Should You Use a Federal Bank Personal Loan EMI Calculator?

Here are a few reasons one should use a Federal Bank Personal Loan EMI calculator:
  • Accurate Calculations: A Federal Bank Personal Loan EMI calculator provides accurate and up-to-date calculations, taking into account various factors such as interest rate, loan amount, and loan tenure.
  • EMI Calculation: EMI calculators are designed to calculate the Equated Monthly Installment (EMI), which is the amount you must pay monthly to repay your loan.
  • Budgeting: Using an EMI calculator, you can determine your monthly outflow and plan your finances accordingly.
  • Loan Tenure and Interest Rate: With a Federal Bank Personal Loan EMI calculator, you can choose different loan tenures and interest rates to find the best loan option.
  • Help Make Informed Decisions: Using an EMI calculator allows you to make informed decisions about your loan application and ensures that you know the repayment terms and conditions.

Federal Bank Personal Loan EMI Calculator Formula & Example,

The formula for calculating the EMI (Equated Monthly Installment) for a personal loan from Federal Bank is as follows:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

  • P = Principal loan amount
  • R = Interest rate per month (interest rate divided by 12)
  • N = Loan tenure in months

Example:

If an individual takes a personal loan of Rs. 1,00,000 from Federal Bank at an interest rate of 12% per annum for a tenure of 24 months, the EMI would be calculated as follows:

R = 12/12 = 1%

N = 24 months

EMI = [100000 x 1 x (1+1)^24]/[(1+1)^24-1] = Rs. 4,754

So, the EMI for the personal loan from Federal Bank for 24 months would be Rs. 4,754.

Benefits of Using Federal Bank Personal Loan EMI Calculator

The benefits of using a Federal Bank personal loan EMI calculator as explored below:

  • Accurate EMI Calculation: The Federal Bank Personal Loan EMI calculator accurately calculates the EMI based on the loan amount, interest rate, and repayment tenure. This helps in providing a better understanding of the loan repayment process.
  • Budget Planning: Using the EMI calculator, one can clearly understand their monthly expenses and plan their budget accordingly. This helps in avoiding any default or missed payments.
  • Easy Comparison: Using the EMI calculator, one can compare different loan options offered by Federal Bank and choose the best option that fits their needs and budget.
  • Flexibility: The EMI calculator allows users to change the loan amount, interest rate, and repayment tenure to see how it affects the EMI amount. This provides flexibility in choosing the loan amount and repayment tenure at their convenience.
  • Transparency: The Federal Bank Personal Loan EMI calculator is a transparent tool that provides an accurate and unbiased representation of the loan repayment process. This helps in making informed financial decisions.
  • Time-saving: The EMI calculator is a quick and easy tool that saves time and effort compared to manual calculations. One can get the precise EMI amount and loan repayment schedule with just a few clicks.

Factors Affecting Federal Bank Personal Loan EMI

There are a few factors that affect the Federal Bank Personal Loan EMIs. Understanding them could help you make sound decisions about your loan application. The factors affecting the Federal Bank Personal Loan EMI calculator are explored below:

  • Loan Amount: The loan amount is the primary factor affecting the EMI. A higher loan amount means a higher EMI.
  • Interest Rate: The interest rate charged by the bank also significantly impacts the EMI. A higher interest rate means higher EMI, while a lower interest rate means lower EMI.
  • Loan Tenure: The tenure of the loan also affects the EMI. A longer loan tenure means a lower EMI, while a shorter one means a higher EMI.
  • Processing Fees: Processing fees charged by the bank can also impact the EMI. If the processing fees are high, it will result in a higher EMI.
  • Age: The borrower's age can also impact the EMI, as some banks have age restrictions for personal loans.
  • Credit Score: A good credit score can help get a lower interest rate, resulting in a lower EMI.
  • Loan Purpose: The purpose of the loan can also impact the EMI. Some banks have different interest rates for different loan purposes.
  • Income: The borrower's income can impact the EMI as some banks have minimum income requirements for personal loans.
  • Type of Interest Rate: Different types of interest rates

Comparison of Federal Bank Personal Loan Interest Rate With Other Banks

Before narrowing down any lender, one should prudently consider exploring their options regarding personal loan interest rates offered by various banks. This can be beneficial as borrowers can estimate their expenses with the help of a Federal Bank Personal Loan EMI calculator and assess whether or not the scheme is feasible for their financial needs. Here is a table showing the interest rates offered by some of the top banks.

Bank Interest Rate
HDFC Bank 10.50% 
YES Bank 10.99%
Citibank 9.99% 
Kotak Mahindra Bank 10.25% 
Axis Bank 12% 
IndusInd Bank 10.49%
HSBC Bank 9.50% 
IDFC First Bank 10.49%
Home Credit Cash Loan 19% 
Aditya Birla Capital 14% 
State Bank of India 9.60%
Karnataka Bank 12%
Bank of Baroda 10.50%
IIFL 24% 
Bank of India 10.35% 

Federal Bank Personal Loan Amortization Calculator

A great tool to assess the monthly instalments is the amortisation calculator. An amortisation calculator is a tool that computes the recurring EMI based on the interest rate, loan tenure, and principal amount. The tool prepares a systematic payment structure that customers must adhere to. It structures the instalments in such a way as to adjust the payment pattern and bring down the repayable amount to zero. Borrowers of the Federal Bank personal loan scheme can benefit from the online Federal Bank personal loan EMI calculator to foresee their expense patterns to make important financial decisions based on the data. 

Amortisation Schedule for a Personal Loan of ₹ 35 Lakh over the 15 years

Federal Bank Personal Loan Amortisation calculator for an amount of INR 35 Lakhs for 15 years with an interest rate assumed as 10% is detailed below:

Year Principal Interest Principal + Interest Balance to be Paid
1 INR 106,110 INR 345,224 INR 451,334 INR 3,393,890
2 INR 117,221 INR 334,113 INR 451,334 INR 3,276,669
3 INR 129,496 INR 321,838 INR 451,334 INR 3,147,173
4 INR 143,056 INR 308,278 INR 451,334 INR 3,004,117
5 INR 158,036 INR 293,299 INR 451,334 INR 2,846,082
6 INR 174,584 INR 276,750 INR 451,334 INR 2,671,498
7 INR 192,865 INR 258,469 INR 451,334 INR 2,478,633
8 INR 213,061 INR 238,274 INR 451,334 INR 2,265,572
9 INR 235,371 INR 215,963 INR 451,334 INR 2,030,201
10 INR 260,017 INR 191,317 INR 451,334 INR 1,770,184
11 INR 287,244 INR 164,090 INR 451,334 INR 1,482,940
12 INR 317,323 INR 134,011 INR 451,334 INR 1,165,617
13 INR 350,551 INR 100,784 INR 451,334 INR 815,066
14 INR 387,258 INR 64,076 INR 451,334 INR 427,809
15 INR 427,809 INR 23,525 INR 451,334 0

Federal Bank Personal Loan EMI for ₹ 10 Lakh

Federal Bank Personal Loan Amortisation calculator for an amount of INR 10 Lakhs for 15 years with an interest rate assumed as 10% is detailed below:

Year Principal Interest Principal + Interest Balance to be Paid
1 INR 30,317 INR 98,635 INR 128,953 INR 969,683
2 INR 33,492 INR 95,461 INR 128,953 INR 936,191
3 INR 36,999 INR 91,954 INR 128,953 INR 899,192
4 INR 40,873 INR 88,080 INR 128,953 INR 858,319
5 INR 45,153 INR 83,800 INR 128,953 INR 813,166
6 INR 49,881 INR 79,072 INR 128,953 INR 763,285
7 INR 55,104 INR 73,848 INR 128,953 INR 708,181
8 INR 60,874 INR 68,078 INR 128,953 INR 647,306
9 INR 67,249 INR 61,704 INR 128,953 INR 580,058
10 INR 74,291 INR 54,662 INR 128,953 INR 505,767
11 INR 82,070 INR 46,883 INR 128,953 INR 423,697
12 INR 90,664 INR 38,289 INR 128,953 INR 333,033
13 INR 100,157 INR 28,795 INR 128,953 INR 232,876
14 INR 110,645 INR 18,308 INR 128,953 INR 122,231
15 INR 122,231 INR 6,722 INR 128,953 0

Federal Bank Personal Loan EMI for ₹ 20 Lakh

Federal Bank Personal Loan Amortisation calculator for an amount of INR 20 Lakhs for 15 years with an interest rate assumed as 10% is detailed below:

Year Principal Interest Principal + Interest Balance to be Paid
1 INR 60,634 INR 197,271 INR 257,905 INR 1,939,366
2 INR 66,984 INR 190,922 INR 257,905 INR 1,872,382
3 INR 73,998 INR 183,908 INR 257,905 INR 1,798,385
4 INR 81,746 INR 176,159 INR 257,905 INR 1,716,638
5 INR 90,306 INR 167,599 INR 257,905 INR 1,626,332
6 INR 99,762 INR 158,143 INR 257,905 INR 1,526,570
7 INR 110,209 INR 147,697 INR 257,905 INR 1,416,362
8 INR 121,749 INR 136,156 INR 257,905 INR 1,294,613
9 INR 134,498 INR 123,408 INR 257,905 INR 1,160,115
10 INR 148,581 INR 109,324 INR 257,905 INR 1,011,534
11 INR 164,140 INR 93,766 INR 257,905 INR 847,394
12 INR 181,327 INR 76,578 INR 257,905 INR 666,067
13 INR 200,315 INR 57,591 INR 257,905 INR 465,752
14 INR 221,290 INR 36,615 INR 257,905 INR 244,462
15 INR 244,462 INR 13,443 INR 257,905 0

Federal Bank Personal Loan EMI for ₹ 25 Lakh

Federal Bank Personal Loan Amortisation calculator for an amount of INR 25 Lakhs for 15 years with an interest rate assumed as 10% is detailed below:

Year Principal Interest Principal + Interest Balance to be Paid 
1 INR 75,793 INR 246,589 INR 322,382 INR 2,424,207
2 INR 83,729 INR 238,652 INR 322,382 INR 2,340,478
3 INR 92,497 INR 229,885 INR 322,382 INR 2,247,981
4 INR 102,183 INR 220,199 INR 322,382 INR 2,145,798
5 INR 112,883 INR 209,499 INR 322,382 INR 2,032,915
6 INR 124,703 INR 197,679 INR 322,382 INR 1,908,213
7 INR 137,761 INR 184,621 INR 322,382 INR 1,770,452
8 INR 152,186 INR 170,195 INR 322,382 INR 1,618,266
9 INR 168,122 INR 154,260 INR 322,382 INR 1,450,144
10 INR 185,727 INR 136,655 INR 322,382 INR 1,264,417
11 INR 205,175 INR 117,207 INR 322,382 INR 1,059,243
12 INR 226,659 INR 95,722 INR 322,382 INR 832,584
13 INR 250,393 INR 71,988 INR 322,382 INR 582,190
14 INR 276,613 INR 45,769 INR 322,382 INR 305,578
15 INR 305,578 INR 16,804 INR 322,382 0

Federal Bank Personal Loan EMI for ₹ 30 Lakh

Federal Bank Personal Loan Amortisation calculator for an amount of INR 30 Lakhs for 15 years with an interest rate assumed as 10% is detailed below:

Year Principal Interest Principal + Interest Balance to be Paid
1 INR 90,952 INR 295,906 INR 386,858 INR 2,909,048
2 INR 100,475 INR 286,383 INR 386,858 INR 2,808,573
3 INR 110,996 INR 275,861 INR 386,858 INR 2,697,577
4 INR 122,619 INR 264,239 INR 386,858 INR 2,574,958
5 INR 135,459 INR 251,399 INR 386,858 INR 2,439,499
6 INR 149,643 INR 237,215 INR 386,858 INR 2,289,855
7 INR 165,313 INR 221,545 INR 386,858 INR 2,124,542
8 INR 182,623 INR 204,234 INR 386,858 INR 1,941,919
9 INR 201,746 INR 185,111 INR 386,858 INR 1,740,173
10 INR 222,872 INR 163,986 INR 386,858 INR 1,517,301
11 INR 246,210 INR 140,648 INR 386,858 INR 1,271,091
12 INR 271,991 INR 114,867 INR 386,858 INR 999,100
13 INR 300,472 INR 86,386 INR 386,858 INR 698,628
14 INR 331,935 INR 54,923 INR 386,858 INR 366,693
15 INR 366,693 INR 20,165 INR 386,858 0

Federal Bank Personal Loan EMI for ₹ 50 Lakh

Federal Bank Personal Loan Amortisation calculator for an amount of INR 50 Lakhs for a duration of 15 years with an interest rate assumed as 10% is detailed below:

Year Principal Interest Principal + Interest Balance to be Paid
1 INR 151,586 INR 493,177 INR 644,763 INR 4,848,414
2 INR 167,459 INR 477,304 INR 644,763 INR 4,680,955
3 INR 184,994 INR 459,769 INR 644,763 INR 4,495,961
4 INR 204,365 INR 440,398 INR 644,763 INR 4,291,596
5 INR 225,765 INR 418,998 INR 644,763 INR 4,065,831
6 INR 249,406 INR 395,358 INR 644,763 INR 3,816,425
7 INR 275,522 INR 369,241 INR 644,763 INR 3,540,904
8 INR 304,372 INR 340,391 INR 644,763 INR 3,236,532
9 INR 336,244 INR 308,519 INR 644,763 INR 2,900,288
10 INR 371,453 INR 273,310 INR 644,763 INR 2,528,834
11 INR 410,349 INR 234,414 INR 644,763 INR 2,118,485
12 INR 453,318 INR 191,445 INR 644,763 INR 1,665,167
13 INR 500,786 INR 143,977 INR 644,763 INR 1,164,381
14 INR 553,225 INR 91,538 INR 644,763 INR 611,155
15 INR 611,155 INR 33,608 INR 644,763 0

Frequently Asked Questions (FAQs)

What is the EMI of 1 lakh personal loan in Federal Bank?

EMI for INR 1 Lakhs will be INR 8,792 with a total payable interest rate of INR 5,499. The interest rate assumed is 10% per annum for a tenure of 1 year.

How much personal loan can I get on my salary of 15000 from Federal Bank?

The minimum salary requirement for an individual to avail of a personal loan from a Federal Bank is INR 25,000 per month.

What is the EMI for 1.5 lakhs personal loan in Federal Bank?

EMI for INR 1.5 Lakhs will be INR 13,187 with a total payable interest rate of INR 8,249. The interest rate assumed is 10% per annum for a tenure of 1 year.

Is a CIBIL score required for a personal loan from Federal Bank?

Customers applying for Federal Bank personal loans should consider improving their credit scores as the bank heavily relies on the CIBIL score of their loan applicants.

What is the rate of interest on personal loans in the Federal Bank?

Customers can expect Federal Bank personal loan interest rates to range from 10.49% to 17.99% per annum.

What is the Federal Bank personal loan processing fee?

The processing fee for a Federal Bank personal loan ranges from 1% to 3% of the loan amount.

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

Calculating Federal Bank personal loan EMI before taking a loan can assist you in making informed decisions on the amount of credit you can afford. Moreover, it can also benefit you in creating financial planning in advance.

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