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Federal Loan Against Property EMI Calculator

Federal Bank Mortgage Loan EMI

Last Updated 18th Feb 2021

Get monthly EMI as low as ₹ 1,429 per lakh on Federal Bank loan against property. Mortgage loan EMI in Federal Bank depends upon type of property (residential, commercial, industrial), occupation (businessmen, self employed, salaried), loan amount, loan tenure and interest rate.

Loan Amount5 Year Loan7 Year loan10 Year loan
₹ 10 Lakh₹ 22,194₹ 17,599₹ 14,289
₹ 25 Lakh₹ 55,485₹ 43,998₹ 35,723
₹ 40 Lakh₹ 88,776₹ 70,397₹ 57,157
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    Loan Against Property EMI Calculator Federal Bank

    Use the above quick and easy tool to easily calculate and compare monthly EMI on Federal Bank Loan Against Property.

    Federal Loan Against Property Amortization Calculator

    The amortization schedule breaks the month-wise calculation of principal and interest amount you will be paying in the form of your EMIs. In simple words, with each month’s EMI, the share of interest and the principal amount keeps changing, while the former keeps on reducing the later keep on increasing. That’s why if you decide to prepay your loan in the first few years you will find out that you have paid a very small proportion of the principal sum. Let us understand this better with the help of an illustration.

    Illustration: How to read an amortization schedule

    Suppose you borrow a Loan Against Property of ₹ 15 Lakh from Federal for 20 years at an interest rate of 11.90%, the EMI calculated for this loan amount would be ₹ 16,412 and the total annual EMIs to be paid annually is ₹ 1,96,942. The Federal Loan Against Property EMI schedule for 20 years is explained below in the table –

    Amortization Schedule for a Loan Against Property of ₹ 15 Lakh over the 20 years

    Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
    2021 ₹ 1,18,565 ₹ 12,730 ₹ 1,31,295 ₹ 14,87,270
    2022 ₹ 1,75,860 ₹ 21,082 ₹ 1,96,942 ₹ 14,66,188
    2023 ₹ 1,73,210 ₹ 23,732 ₹ 1,96,942 ₹ 14,42,455
    2024 ₹ 1,70,226 ₹ 26,716 ₹ 1,96,942 ₹ 14,15,740
    2025 ₹ 1,66,868 ₹ 30,074 ₹ 1,96,942 ₹ 13,85,665
    2026 ₹ 1,63,087 ₹ 33,855 ₹ 1,96,942 ₹ 13,51,810
    2027 ₹ 1,58,831 ₹ 38,111 ₹ 1,96,942 ₹ 13,13,700
    2028 ₹ 1,54,040 ₹ 42,902 ₹ 1,96,942 ₹ 12,70,798
    2029 ₹ 1,48,647 ₹ 48,295 ₹ 1,96,942 ₹ 12,22,503
    2030 ₹ 1,42,576 ₹ 54,366 ₹ 1,96,942 ₹ 11,68,137
    2031 ₹ 1,35,742 ₹ 61,200 ₹ 1,96,942 ₹ 11,06,937
    2032 ₹ 1,28,048 ₹ 68,894 ₹ 1,96,942 ₹ 10,38,043
    2033 ₹ 1,19,388 ₹ 77,554 ₹ 1,96,942 ₹ 9,60,488
    2034 ₹ 1,09,638 ₹ 87,304 ₹ 1,96,942 ₹ 8,73,184
    2035 ₹ 98,663 ₹ 98,279 ₹ 1,96,942 ₹ 7,74,906
    2036 ₹ 86,309 ₹ 1,10,633 ₹ 1,96,942 ₹ 6,64,272
    2037 ₹ 72,401 ₹ 1,24,541 ₹ 1,96,942 ₹ 5,39,731
    2038 ₹ 56,745 ₹ 1,40,197 ₹ 1,96,942 ₹ 3,99,534
    2039 ₹ 39,121 ₹ 1,57,821 ₹ 1,96,942 ₹ 2,41,713
    2040 ₹ 19,281 ₹ 1,77,661 ₹ 1,96,942 ₹ 64,052
    2041 ₹ 1,596 ₹ 64,052 ₹ 65,647 -₹ 0

    Each Federal Loan Against Property EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

    As you assess the amortization table, you will find that by the end of 1st year 9.89% of your EMI has been used to repay the principal amount. This means that the remaining 90.11% of the EMI went into interest payment. Thus, you end up paying only 1.3% of the loan amount of ₹ 15 Lakh after paying 12 EMIs in the first year to Federal.

    In year 20, the interest component of Federal EMI is around 6.16%, while the principal component is around 93.84%. Upto 20 years, you have cumulatively repaid 100% of your total Federal Loan Against Property.

    How to process for Loan Against Property EMI moratorium in Federal Bank?

    After the announcement of RBI on 22nd May 2020, Federal Bank has extended the loan moratorium for the term loans and interest of working capital loans to next three months till August 2020. As a borrower, you have the option to opt-in or opt-out of the moratorium by informing Federal Bank. The interest will continue to accrue on the principal outstanding during this moratorium and the accumulated interest would be added to the principal amount resulting in the extension of loan tenure except in cases where the tenure extension is not possible will increase EMI amount. The moratorium on payment of Loan Against Property EMI’s will not be treated as default and will not have any negative impact on the borrower’s credit score. To know more about the moratorium option, you may contact Federal Bank customer care or its nearest branch.

    FAQs

    Will the Federal Loan Against Property EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

    Federal Loan against property may change as per the borrower’s financial ability or in case of floating rate of interests offered by the lender. The consequences of the change in SBI LAP EMI are listed as follows:

    • Typically, the Loan Against Property 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 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 the extent that the revised loan tenure is more than the maximum permissible by Federal Bank, the bank may increase your EMI amount.

    Will Loan Against Property EMI change in case of prepayment?

    Similar to all loans, Loan against property also offers the prepayment facility to the loan borrowers. Prepayment of loan leads to certain changes as listed below:

    • When you make a prepayment, the outstanding principal amount on your property loan reduces. You may choose to either keep the EMI the same and reduce the loan tenure (enabling you to pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying a 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.
    • Note that Federal Bank may levy prepayment charges except on floating rate property loans sanctioned to individuals.

    How does Loan Against Property EMI calculator, calculate Loan Against Property EMI?

    Loan against property is a reliable and time-saving tool to calculate the LAP EMI. It functions as follows:

    • EMI is calculated using a combination of the loan amount, loan tenure and interest rate.
    • Federal Bank mortgage loan calculator calculates EMI on a reducing balance basis and assuming payment of EMI in arrears (that is interest is charged for the month preceding the date of EMI payment on EMI date) and not in advance.

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

    You can avail of a maximum loan of ₹ 5 Cr, depending on the value of the property. However, the loan amount cannot be more than 50% of the property value. Federal Bank assesses the property before approving your mortgage loan application.


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    Federal Loan Against Property News - May 2021
    • 2021-01-06 : Federal Bank’s gross advances rise 6% YoY in Q3
      Federal Bank reported a 12% increase in total deposits which includes fixed and recurring deposits for the third quarter of the fiscal. Further the bank reported an increase of 6% rise in gross advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans. CASA ratio stood at 34.48% at the end of December 31, 2020, from 33.38% as on September 30, 2020.
    • 2019-07-17 : Federal Bank net profit rises by 46% to Rs. 384 crores during FY19-20
      Private sector lender, Federal Bank’s net profit has witnessed a 46% growth to Rs. 384 crores in the first quarter of FY 19-20. Previous year the profit stood at Rs. 262 crores. The growth is driven by stable asset quality and robust non-core income. Also, the lender has plans to achieve significant growth across its retail loan segment, including home loans and mortgage loans this year.
    • 2019-06-27 : Federal Bank plans to double its business to Rs. 5 lakh crore in the next 4 years
      Federal Bank is planning to double its business growth to Rs. 5 lakh crore in the next four years by focusing on lending to micro, small and medium enterprises, home loans and mortgage loans, and agriculture sectors. Also, it has plans to focus on maintaining high governance and financial performance during this fiscal to achieve growth.
    • 2019-05-21 : Federal Bank revises MCLR rates across loan tenure
      Federal Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenure for the month of May. The move is supposed to make retail loans like housing loans and mortgage loans cheaper. Now for overnight and one month, the rate stands at 8.70% and 8.80% respectively. For 3 months, the rate has been revised to 8.95%. While for 1 year the rate now stands at 9.15%. The revised rates are effective from May 16, 2019.
    • 2019-05-07 : Federal Bank Q4 net jumps 163% at Rs. 382 crores
      Private sector lender, Federal Bank has reported a 163% growth in net profit for the quarter ended March 31, boosted by strong growth across its retail loans segment including home loans and SME loans and fixed deposits. In addition, the lender’s Net interest income (NII) for the quarter increased by 16.57% to Rs. 4,176 crore. The housing loans registered a growth of 32.16%. While the SME loans grew by 12%.
    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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