Federal Home Loan EMI Calculator

Federal Home Loan - Lowest EMI is Rs. 841 per lakh

Last Updated 04th Dec 2016
  • Get monthly EMI as low as Rs. 841 per lakh with Federal Bank now offering home loans with loan tenure upto 30 years.
  • Lowest home loan interest rate currently offered by Federal Bank is 9.50%, for which the EMI per Rs. 1 lakh loan amount comes to Rs. 1,044 for a 15 year loan and Rs. 932 for a 20 year loan. Check the EMI for other tenures using the Federal Bank home loan EMI calculator on this page.

Home Loan EMI Calculator Federal Bank

Federal Bank Home Loan EMI Calculator

Federal Home Loan EMI

  • Home Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Federal Bank against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With Federal Bank offering Home Loans with loan tenure upto 30 years, the loan EMI can be as low as Rs. 841 per lakh, to make it more affordable and convenient to meet your needs. Lowest Rate of interest offered by Federal Bank on Home Loan is 9.50%.
  • Loan Tenure
    Loan Amount (Rs.) 15 years20 years30 years
    2,500,000 26,10623,30321,021
    5,000,000 52,21146,60742,043
    7,500,000 78,31769,91063,064
    10,000,000 104,42293,21384,085
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

Federal Home Loan EMI calculator formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how Federal Bank Home Loan EMI is calculated:
In above formula,
P = Loan amount. This can range from Rs. 1,500,000 to Rs. 150,000,000
r = Rate of interest per month. Current rate is 9.50%, which is linked to Federal 1 Year MCLR, which is currently 9.45%. Last revised on 01st Nov 16
n = tenure in month. For Federal Bank, this can be 360 months

Will the Federal home loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

  • Typically, the home loan EMI remains unchanged unless the customer requests for a change and the same is approved by Federal Bank subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI)
  • In case the floating rate of interest on your home loan increases, Federal Bank will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by Federal Bank, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranched EMI scheme, your loan EMI will increase with each disbursement.

Will home loan EMI change in case of prepayment?

  • Federal Bank allows prepayment at nil charges or penalty in case of floating rate home loans.
  • When you make a prepayment, the outstanding principal amount on your home loan reduces. In this case, you may choose to either keep the EMI the same and reduce the loan tenure (that is pay off the loan faster) or reduce the EMI and keep the loan tenure the same (that is pay lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.
Federal Home Loan EMI Calculator News - Dec 2016
19th Aug 16 Federal Bank starts new referral option in its mobile banking app
Federal Bank has come with a reward program to its customers who refer FedMobile to friends or relatives. FedMobile is a transaction app of Federal Bank. Now customers can share the app link with the friends by clicking Refer A Friend option given in the FedMobile app home page. This message can be shared using Whatsapp, mail, Facebook etc without any cost. Customer who referred will get Rs. 50 when the referred friend does his first transaction from the app. This app can be used for availing banking facilities, bill payments, Funds Transfer and also for making future payments in advance.
19th Aug 16 Federal Bank ties up with Chillr
Federal Bank has partnered with Chillr which is a mobile banking application that connects a person directly to its bank account and enables to make bill payments, transfer money and phone recharge. This facility will help customers to do cashless transactions at any time and manage their banking requirements at a single stage. Customer can initiate their transactions on Chillr with total security authenticated by a secure PIN provided by the bank. The app is available to all the customers of Federal Bank.
18th Aug 16 Federal Bank has tied up with MMTC for disbursement of Indian gold Coins
Federal Bank entered into partnership with MMTC to allow its customers to buy Indian Gold coins, that are a part of National Gold scheme launched by government in November 2015
22nd Jul 16 Federal Bank Q1 net grows 18% to Rs 167 crore
As per the results of Q1FY17 , Federal Bank reported a 18.3 percent increase in its Net Profit at Rs. 167.3 crore. Asset quality was stable in the current quarter, with Gross NPAs ratio of 2.92 percent in first quarter of FY17 compared to 2.59 percent as on FY16. Net NPAs increased by 0.98 percent to 1.68 percent in the June quarter when compared on yearly basis. Asset quality showed mild signs of weakening with Provisions for Bad Loans increasing by 10 percent yoy to Rs 168.48 crore
21st Jul 16 Federal Bank ties up with Reliance Jio Money
Federal bank has tied up with Reliance Jio Money to launch an one click payment service. Reliance Jio money is a mobile wallet application which will allow Federal bank customers to get an option to pay directly from their account without funding the wallet. The user does not need to maintain cash in the wallet and can complete transaction from their account in just one click.
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