Check your EMI amount & estimate your expenses on your Federal Bank Personal Loan using the EMI calculator. Provide your loan amount, interest rate and tenure and you will get your EMI amount.
|Year||Month||Principal (A)||Interest (B)||EMI (A+B)||Balance||Loan Paid to Date (%)|
Experience Federal Bank's seamless personal loan process with interest rates starting at 11.49% per annum for loans up to Rs 25 lakh and 5-year tenures. Fast disbursals and pre-approved loans are also available. Strategise your finances efficiently by using the Federal Personal EMI calculator. Make an easy EMI calculation and comparison based on current interest rates in seconds. Take control of your financial journey with the Federal Bank.
The EMI calculator uses a specific formula to calculate the EMI for your loan. Now you can use the same formula to calculate your EMI manually by following the provided steps.
Here’s the formula that is used to calculate your EMI:
E = [P × R × (1+R)^N] / [((1+R)^N) - 1]
Here in the equation,
E stands for EMI
P stands for principal loan amount
R stands for the monthly rate of interest
N stands for tenure period.
If you are planning to avail of a Federal Bank personal loan of ₹10 lakhs, with an interest rate of 11.49% p.a, for a loan the tenure of 6 years, then here's the payable EMI:
* P = ₹10,00,000
* Annual interest rate = 11.49% p.a
* R = 11.49% / 12 / 100 = 0.009575 (approximately)
* Loan tenure in years = 5
* Number of monthly installments (n) = 5 * 12 = 60
Now, let's substitute these values using the personal loan EMI calculator formula:
EMI = [1000000 × 0.009575 × (1 + 0.009575)^60] / [(1 + 0.009575^60) - 1]
EMI = ₹21,988
So, the EMI for a personal loan of ₹10Lakhs at an interest rate of 11.49% per annum for a tenure of 6 years would be approximately ₹21,988.
Consult the table, that illustrates Federal Bank EMI calculations for different loan amounts at an interest rate of 11.49% p.a. and, considering tenures of 12 and 24 months:
|Loan Amounts||Interest Rate||EMI for 12 Months||EMI for 24 Months|
|1 Lakh Personal Loan EMI||11.49%||₹1,283||₹4,684|
|1.5 Lakh Personal Loan EMI||11.49%||₹1,924||₹7,025|
|2 Lakh Personal Loan EMI||11.49%||₹2,565||₹9,367|
|3 Lakh Personal Loan EMI||11.49%||₹3,848||₹14,051|
|4 Lakh Personal Loan EMI||11.49%||₹5,131||₹18,734|
|5 Lakh Personal Loan EMI||11.49%||₹6,414||₹23,418|
|10 Lakh Personal Loan EMI||11.49%||₹88,610||₹46,836|
|11 Lakh Personal Loan EMI||11.49%||₹97,471||₹51,519|
Federal Bank Personal Loan offers a convenient approach for managing your loan repayments. If you're seeking quick results, you can swiftly utilize the Buddy Loan EMI Calculator by following these steps:
The Personal Loan EMI calculator offers various advantages to individuals considering loans or aiming to manage their financial obligations effectively:
Effectively management of your Federal Bank personal loan involves careful planning and financial discipline. Here are some valuable tips to help you manage your EMI payments efficiently:
Understand the Loan Terms and conditions: Read the loan agreement thoroughly to understand the interest rate, tenure, EMI amount, and any additional charges or fees.
Create a budget: Develop a detailed budget that includes all your monthly expenses, including the EMI payment. Ensure that your income can comfortably cover these expenses.
Prioritize EMI Payments: Make timely EMI payments a priority to avoid late fees, penalties, and a negative impact on your credit score. Set up automatic payments if possible to ensure you never miss a payment.
Avoid Additional Borrowing:Refrain from taking on more debt while repaying your personal loan. Taking on additional loans can strain your finances further and make it difficult to manage your EMI payments.
Make Partial Prepayments: Whenever you have surplus funds, consider making partial prepayments on your loan. This can help reduce the outstanding principal and, the overall interest burden.
Negotiate Loan Terms: If your financial situation changes or your face difficulties in repaying the EMI, consider discussing your situation with the bank. They may offer a temporary solution, like extending the tenure or adjusting the EMI amount.
Not sure of your credit score? You can check it for free!
Check other Banks EMI Calculator from below:
|HDFC Personal Loan EMI Calculator||ICICI Bank Personal Loan EMI Calculator|
|Kotak Personal Loan EMI Calculator||Axis Bank Personal Loan EMI Calculator|
|BOB Personal Loan EMI Calculator||PNB Personal Loan EMI Calculator|
|Canara Bank Personal Loan EMI Calculator||SBI Personal Loan EMI Calculator|
|Yes Bank Personal Loan EMI Calculator||Bank of India Personal Loan EMI Calculator|
|IndusInd Bank Personal Loan EMI Calculator||IDFC Bank Personal Loan EMI Calculator|
|Standard Chartered Loan EMI Calculator||IOB Personal Loan EMI Calculator|
|CitiBank Personal Loan EMI Calculator||Indian Bank Personal Loan EMI Calculator|
|Central Bank Personal Loan EMI Calculator||Federal Bank Personal Loan EMI Calculator|
|Bandhan Bank Personal Loan EMI Calculator||RBL Bank Personal Loan EMI Calculator|
|Union Bank of India EMI Calculator||-|
Ready to take next step ?
You can use a Federal Bank Personal Loan EMI Calculator by following the steps provided in the webpage above.
Federal Bank Personal loans provide interest rate up to 11.49% p.a.
You can borrow up to 25 Lakhs maximum loan amount from Federal Bank as a personal loan.
Federal Bank Personal loan provides a loan repayment tenure of up to 5 years.
The EMI calculated using a standard EMI calculator, including the Federal Bank Personal Loan EMI Calculator, rarely incorporates processing fees or other charges associated with the loan.
In order to arrive at a proper breakdown of how much of the EMI goes towards principal repayment, you can also use Buddy Loan Calculator.
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