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Federal Personal Loan Calculator

Federal Bank Personal Loan EMI Calculator, Nov 2021

Last Updated 23rd Nov 2021

  • Personal loan EMI in Federal Bank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.
  • Federal Bank Personal Loan EMI Calculator is an online tool to estimate monthly EMI and its division into principal and Interest during the entire loan tenure.
  • Lowest monthly EMI is ₹ 2,560 per lakh on Federal Bank personal loan as calculated using the lowest interest rate of 10.49% for the longest tenure of 48 months.
  • For example, the table below gives the EMIs on Federal Personal Loan at different loan amounts and loan tenure, if taken at the lowest rate.
Loan Amount1 Year Loan3 Year loan4 Year loan
₹ 1 Lakh₹ 8,814₹ 3,250₹ 2,560
₹ 5 Lakh₹ 44,072₹ 16,249₹ 12,799
₹ 10 Lakh₹ 88,144₹ 32,498₹ 25,599

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Personal Loan EMI Calculator Federal

Federal Bank Personal Loan EMI is a fixed amount of money paid by you to Federal Bank based on your loan amount, tenure and interest rate. Every month, it is due on a fixed day of the month till the loan is fully paid back. You can calculate your Federal Bank personal loan EMI in advance, to plan your loan payments and further expenses, using the Personal Loan EMI Calculator Federal. The calculator functions on a mathematical algorithm and gives accurate results in no time.

Why should you use Federal Bank Personal Loan EMI Calculator?

  • Calculate the EMI within your budget: Helps you compare the EMIs with a different loan amount and tenure. Always talk to the bank to know the interest rate you will be eligible for Federal Bank personal loan which can range between 10.49% to 17.99%.
  • Compare Federal Bank personal Loan EMI: Helps you compare the estimated EMI on a personal loan from Federal Bank with that of leading banks in India using the same loan amount of upto ₹ 10 Lakh for a maximum tenure of 48 months, but at different interest rates.
  • Calculate interest on Federal Bank personal loan: You can calculate the split of total EMIs into interest and principal repayment on your loan from Federal over the loan tenure.
  • Detailed amortisation schedule: This allows you to see the pace at which your principal amount will be repaid during the loan tenure month on month. This is helpful if you decide to prepay your loan at Federal or balance transfer to another bank.

Federal Bank Personal Loan EMI Calculator to Estimate the EMI that Fits your Budget

Input different loan amounts and tenure at the eligible interest rate on Federal Bank Personal Loan EMI calculator to calculate various EMIs at different rates and tenure. The table captures the calculation of Federal Bank Personal Loan EMI Calculation at the various combinations of loan amount and years when taking at the lowest rate of 10.49%. So if you think that you can afford to pay an EMI of ₹ 10,000 in your budget, taking a ₹ 3 Lakh loan for 3 years or ₹ 5 Lakh loan for 5 years, maybe the right Federal Bank personal loan plan for you.Personal Loan EMI is calculated for Federal for different loan amounts and tenures at the rate of 10.49%.

Loan Amount (Rs.)2 Years3 Years4 Years
1 Lakh ₹ 4,637 ₹ 3,250 ₹ 2,560
3 Lakh ₹ 13,911 ₹ 9,749 ₹ 7,680
5 Lakh ₹ 23,186 ₹ 16,249 ₹ 12,799
10 Lakh ₹ 46,371 ₹ 32,498 ₹ 25,599

Factors Affecting Federal Bank Personal Loan EMI

  • Loan amount – You will pay a higher EMI for the higher loan amount. Federal Bank gives a minimum loan of ₹ 50,000 and a maximum loan amount of ₹ 10 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Federal Bank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Federal Bank is 10.49%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period over which you can repay your loan in Federal Bank. So, your EMI will be lower if you take a 48months loan from Federal Bank as compared to a loan taken for 12months. The logic being that if you get a longer period to repay, you can repay in a smaller instalment.

Comparison of Federal Bank Personal Loan EMI with other Banks

Bank Name Interest Rate Loan Amount of ₹ 1 Lakh Loan Amount of ₹ 5 Lakh Loan Amount of ₹ 10 Lakh
Federal Bank10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
IndusInd Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
IDFC First Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
Axis Bank 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144
Tata Capital 10.49% ₹ 8,814 ₹ 44,072 ₹ 88,144

Federal Bank Personal Loan Amortization Calculator

Federal Bank Personal Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. Federal Bank gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 3.50 Lakh for 4 years from Federal Bank at an interest rate of 10.49%. EMI calculated for this loan amount is ₹ 8,959 and the total annual EMIs to be paid annually is ₹ 1,07,514. The EMI schedule of loan for 4 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 3.50 Lakh over the 4 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 6,068 ₹ 11,851 ₹ 17,919 ₹ 3,38,149
2022 ₹ 31,905 ₹ 75,609 ₹ 1,07,514 ₹ 2,62,540
2023 ₹ 23,581 ₹ 83,933 ₹ 1,07,514 ₹ 1,78,607
2024 ₹ 14,341 ₹ 93,173 ₹ 1,07,514 ₹ 85,434
2025 ₹ 4,161 ₹ 85,434 ₹ 89,595 -₹ 0

In the above illustration, on a Federal Bank Personal Loan of₹ 3.50 Lakh, taken at the lowest interest rate of 10.49, EMI paid is ₹ 8,959 and an annual total of EMIs is ₹ 1,07,514, the interest component is ₹ 33,210 while the principal component is ₹ 74,304 in year 1 of loan disbursement. You repay only 21.23% of the total principal after paying 12 EMIs during the first year.

Federal Bank Personal Loan Interest Calculator Formula

Federal Bank calculates personal loan EMI based on the following formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Federal Bank Personal Loan EMI is calculated:

In the above formula,

P = Loan amount.Federal Bank personal loan amount can range from ₹ 50,000 to ₹ 10 Lakh.

r = Rate of interest per month. The current Federal Bank Personal Loan rate is 10.49%.
n = Tenure in month. This can range up to 48months in case of Federal Bank.

How to use Federal Bank Personal Loan EMI Calculator

  • Federal Bank personal loan calculator are online tool which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Federal Bank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears meaning interest is charged for the month preceding the EMI payment date and not in advance.

Federal Bank Personal Loan EMI for ₹ 1 Lakh

The following table shows Federal Bank Personal Loan EMI for ₹ 1,00,000 for different tenures at an interest rate of 10.49%

Loan AmountInterest RateTenure(Year)EMI
₹ 1,00,00010.49% 1₹ 8,814
₹ 1,00,00010.49% 2₹ 4,637
₹ 1,00,00010.49% 3₹ 3,250
₹ 1,00,00010.49% 4₹ 2,560
₹ 1,00,00010.49% 5₹ 2,149

Federal Bank Personal Loan EMI for ₹ 3 Lakh

The following table shows Federal Bank Personal Loan EMI for ₹ 3,00,000 for different tenures at an interest rate of 10.49%.

Loan AmountInterest RateTenure(Year)EMI
₹ 3,00,00010.49% 1₹ 26,443
₹ 3,00,00010.49% 2₹ 13,911
₹ 3,00,00010.49% 3₹ 9,749
₹ 3,00,00010.49% 4₹ 7,680
₹ 3,00,00010.49% 5₹ 6,447

Federal Bank Personal Loan EMI for ₹ 5 Lakh

The following table shows Federal Bank Personal Loan EMI for ₹ 5,00,000 for different tenures at an interest rate of 10.49%.

Loan AmountInterest RateTenure(Year)EMI
₹ 5,00,00010.49% 1₹ 44,072
₹ 5,00,00010.49% 2₹ 23,186
₹ 5,00,00010.49% 3₹ 16,249
₹ 5,00,00010.49% 4₹ 12,799
₹ 5,00,00010.49% 5₹ 10,744

Federal Bank Personal Loan EMI for ₹ 10 Lakh

The following table shows Federal Bank Personal Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 10.49%.

Loan AmountInterest RateTenure(Year)EMI
₹ 10,00,00010.49% 1₹ 88,144
₹ 10,00,00010.49% 2₹ 46,371
₹ 10,00,00010.49% 3₹ 32,498
₹ 10,00,00010.49% 4₹ 25,599
₹ 10,00,00010.49% 5₹ 21,489

How to Pay Federal Bank Personal Loan EMI?

There are various online & offline methods to pay your Federal Bank Personal Loan EMI. To repay your Federal Bank EMI online, you can log in to your net banking account or else you can also use the mobile banking of Federal Bank. Federal Bank also allows you to pay EMI through ECI or standing instructions or a cheque facility by visiting the nearest Federal Bank branch.

FAQs

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

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Federal Bank personal loan EMI. For instance, if you want to avail Federal Bank personal loan at the lowest rate of 10.49% and your monthly EMI, which comes out at ₹ 2,560 is more than your monthly budget. You have the chance to apply for a lower loan amount that fits your monthly budget and makes EMI easily affordable. In addition, if you already know the EMI you have to pay each month, you can plan your expenses accordingly. Finally, based on the EMI amount, you can opt to make a prepayment of your loan in the future when you have a surplus amount.

What is the lowest EMI per lakh offered by Federal Bank on a personal loan?

Federal Bank offers a personal loan at a 10.49% interest rate for a maximum of 48 months, and hence lowest EMI per lakh loan amount is ₹ 2,560. However, Federal Bank may offer a lower interest rate to you if you hold your salary account with the bank or if you are an existing customer.

How can I pre-close Federal Bank personal loan?

You can pre-close your Federal Bank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of the balance amount that you have paid.

What are the prepayment charges on Federal Bank ?

Federal Bank offers you an option of prepayment after 0 months at Nil prepayment charges.You have to pay these charges if you decide to pay the loan amount before the due date.

Is there any processing charge on a personal loan from Federal Bank?

Yes, Federal Bank charges a certain amount of processing fee to process your loan application. Currently, Federal Bank charges a processing fee of 0.5%, Min Rs. 500 on a Personal Loan.

Will I get a personal loan from Federal Bank if I have a bad credit score?

No, for taking a loan from Federal Bank, you must have a good credit score of 700 and above. Usually, most banks avoid giving loans if you have a low credit score.Also, availing a personal loan at low cibil score might fetch you a high Federal Bank personal loan rate.

What is the EMI for a₹ 20 Lakh personal loan in Federal Bank Bank?

At the current rate of 10.49%, EMI on Federal Bank personal loan for loan amount ₹ 20 Lakh varies based on the loan tenure. For instance, for 2 year, 3 year and 6 years, EMI is ₹ 2,13,250, ₹ 2,25,051 and ₹ 2,62,397 respectively.

Can I have a co-applicant while applying for a Personal loan with Federal Bank ?

Yes, you can opt for a co-applicant to take a personal loan from Federal Bank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Federal Bank personal loan?

If you have funds, then you can pay more than the regular EMI on your Federal Bank Personal Loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Federal Bank loan EMI?

You can pay the Federal Bank personal Loan EMI by using the ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque or can opt for automated deductions from your salary account.

Compare Personal Loan EMI of All Banks

Federal Bank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 1800-425-1199
Ahmedabad 1800-425-1199
Ambala 1800-425-1199
Anand 1800-425-1199
Aurangabad Bihar 1800-425-1199
Bangalore 1800-425-1199
Bhilai 1800-425-1199
Bhilwara 1800-425-1199
Bhiwadi 1800-425-1199
Bhopal 1800-425-1199
Bhubaneswar Cuttack 1800-425-1199
Bikaner 1800-425-1199
Chandigarh 1800-425-1199
Chennai 1800-425-1199
Cochin 1800-425-1199
Coimbatore 1800-425-1199
Dehradun 1800-425-1199
Delhi 1800-425-1199
Durg 1800-425-1199
Faridabad 1800-425-1199
Gandhinagar 1800-425-1199
Ghaziabad 1800-425-1199
Goa 1800-425-1199
Greater Noida 1800-425-1199
Gurgaon 1800-425-1199
Guwahati 1800-425-1199
Gwalior 1800-425-1199
Hyderabad 1800-425-1199
Indore 1800-425-1199
Jabalpur 1800-425-1199
Jaipur 1800-425-1199
Jalandhar 1800-425-1199
Jodhpur 1800-425-1199
Kanpur 1800-425-1199
Karnal 1800-425-1199
Kolhapur 1800-425-1199
Kolkata 1800-425-1199
Kota 1800-425-1199
Kozhikode 1800-425-1199
Lucknow 1800-425-1199
Ludhiana 1800-425-1199
Madurai 1800-425-1199
Meerut 1800-425-1199
Mehsana 1800-425-1199
Mohali Sas Nagar 1800-425-1199
Mumbai 1800-425-1199
Mussoorie 1800-425-1199
Nagpur 1800-425-1199
Nashik 1800-425-1199
Noida 1800-425-1199
Noida Extn 1800-425-1199
Panipat 1800-425-1199
Patna 1800-425-1199
Pondicherry 1800-425-1199
Pune 1800-425-1199
Raipur 1800-425-1199
Rajkot 1800-425-1199
Ranchi 1800-425-1199
Rohtak 1800-425-1199
Roorkee 1800-425-1199
Salem 1800-425-1199
Shimla 1800-425-1199
Sonipat 1800-425-1199
Surat 1800-425-1199
Trichy 1800-425-1199
Udaipur 1800-425-1199
Vadodara 1800-425-1199
Varanasi 1800-425-1199
Vijaywada 1800-425-1199
Vizag 1800-425-1199

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Federal Personal Loan News - Nov 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.
  • 2020-07-16 : Federal Bank Q1 net profit up 4.3%
    Federal Bank net profit backed by retail loans like home, personal, gold, car and two-wheeler along with business and mudra loans rose by 4.3% to Rs 400.77 crore in Q1 June 2020 over Q1 June 2019. Further, The Bank total deposits which include fixed and recurring deposits reached Rs 1,54,937.74 crore in Q1 June 2020, registering a 16.9% growth from Q1 June 2019.
  • 2020-05-29 : Federal Bank reported a Q4 net profit of Rs. 301.23 crores
    Federal Bank reported a 21.04% fall in its profits to Rs. 301.23 crores in the fourth quarter of 2019-20 with a sharp rise in provisions. Its net profit was ₹381.51 crores in the same period a year ago. Further, For the quarter ended March 31, 2020, the bank reported a 19.27% increase in total income to ₹4,107.95 crores from ₹3,444.04 crores a year ago backed by retail loans like home and personal loans along with business, car and mudra loans.
  • 2019-05-24 : Federal Bank launches BYOM service to assist personal loan customers
    Federal Bank has recently launched a new service, ‘Be Your Own Master’ (BYOM) which aims to help its current personal loan customers. Using this service, customers can avail a pre-approved personal loan in a single-click based on their eligibility.
  • 2017-03-03 : Federal Bank adds new features to its mobile banking application
    Kerala based Federal Bank has upgraded its mobile banking application with new features. Customers can now open term deposits, recurring deposits and tax saving deposits via mobile baking application. The update also includes the facility such as hotel and bus booking and digital payments for various utilities including insurance, mutual funds, donations etc. The updated features can be used by both resident and NRI customers of the bank.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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