Federal Bank Personal Loan Calculator

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