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Federal Bank Personal Loan EMI Calculator

Learn key features of the Federal Bank Personal Loan EMI calculator,

...

including its usage process, benefits, and how the calculation is done.

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Your Personal Loan EMI
₹ 2,124
Total Interest Amount
₹ 27,453
Principal Amount
₹ 100,000
Total Payable Amount
₹ 127,453
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
Months drop-down-img
  • Years
- +
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You can also make instant comparisons between loan offers from over 20 personal loan providers on Bajaj Markets.

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You can also evaluate the total interest amount and overall payable amount for better financial planning and budgeting.

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Federal Bank offers personal loans at affordable interest rates and flexible repayment options. To help customers in planning their repayments, the bank provides an online EMI calculator. You can calculate your Equated Monthly Instalments (EMIs) using the bank’s online EMI calculator. This tool helps you plan your repayments effectively.

The Federal Bank EMI calculator for personal loans is a simple and easy to use tool. Here’s how you can use it:

  1. Enter the required details, such as, required loan amount, interest rate, and tenure

  2. As you enter the information, you get the personal loan EMI

 

The personal loan EMI calculator of the Federal Bank works on the formula:

EMI =P×r×(1+r)n(1+r)n−1

Where:

  • P: Principal loan amount

  • r: Monthly interest rate (annual rate divided by 12)

  • n: Loan tenure in months

Here is the detailed calculation of EMI amounts as per tenure up to 5 years for a loan amount of ₹5 Lakhs and interest rate 11.49%:

Loan Amount 

Tenure

Interest Rate

Total Interest Amount

EMI

₹5 Lakhs

1

11.49%

₹31,662

₹44,305

₹5 Lakhs

2

11.49%

₹62,028

₹23,418

₹5 Lakhs

3

11.49%

₹93,483

₹16,486

₹5 Lakhs

4

11.49%

₹126,019

₹13,042

₹5 Lakhs

5

11.49%

₹159,628

₹10,994

Note: The EMI and interest values are generated by the calculator. The actual amount can depend on factors such as your credit history, net income, and existing debts.

Using the Federal Bank Personal Loan EMI Calculator offers several benefits:

Instant Results

Quickly determines monthly EMI payments with immediate calculations, saving time and effort

Accessibility

Available online 24/7, allowing you to use the calculator anytime and anywhere for convenient loan planning

Cost-free

This tool is free to use, enabling you to make informed decisions without incurring additional costs

Transparency

Helps you understand the exact breakdown of your EMI and interest payments, ensuring no surprises in your loan repayments

Easy Financial Planning

You can gain a clear understanding of your monthly financial commitments, aiding in effective budgeting and confident financial planning

Flexibility

You can experiment with various loan amounts, interest rates, and tenures to find terms that best suit your financial situation
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Several factors influence the Equated Monthly Instalments (EMIs) for Federal Bank personal loans:

  • Loan Amount

A higher borrowed principal amount leads to a higher EMI

  • Interest Rate

Federal Bank offers rates starting from 11% per annum for personal loans. A higher rate increases the EMI.

  • Loan Tenure

Longer repayment tenures reduce the EMI but may increase the total interest paid

  • Credit Score

A higher credit score can help secure a lower interest rate, thereby reducing the EMI. Conversely, a lower credit score might result in a higher interest rate and, consequently, a higher EMI.

  • Income

Your income level is assessed to determine the loan amount and repayment capacity. Higher income levels may qualify for larger loan amounts, but the EMIs will be adjusted to fit within your repayment capacity.

  • Type of Interest Rate

The Federal Bank Personal Loan interest rates can be fixed or floating. Fixed rates remain constant, leading to stable EMIs. Floating rates can change based on market conditions, causing EMIs to fluctuate.

You can pay your Federal Bank personal loan EMIs through its Quick EMI Payment Portal. 

You can also repay your loans online via Debit Card, Net Banking, or UPI. 

Here are the steps you can follow:

  1. Visit the portal page https://epay.federalbank.co.in/quick-emi/

  2. Enter your loan account number or savings account number

  3. Verify with the OTP sent to your registered mobile number

  4. Proceed with the payment as prompted

You can also make the payments through options like NEFT, RTGS, demand draft, and cheque.  These days you can even set-up automatic payments so that you don't have to worry about the monthly due dates.

Frequently Asked Questions

What are the details that I will have to enter on the Federal Bank personal loan EMI calculator?

To use the calculator, input the principal loan amount, the interest rate offered by Federal Bank, the desired loan tenure, and optionally, any additional amount you plan to pay beyond the standard EMI.

Yes, you can use the EMI calculator for Federal Bank Personal Loans multiple times to explore different loan scenarios and find the EMI plan that best suits your financial needs.

No, the calculator requires only the loan amount, interest rate, and tenure. Your personal information is not needed to access or use the tool.

Yes, the calculator allows you to input various loan amounts to see how different principal values affect your EMI, helping you make an informed borrowing decision.

The EMI on a personal loan of ₹4 Lakhs for 5 years at an interest rate of 11% would ₹8,795 approx.

Federal Bank Personal Loan interest rate starts from 11%.

The EMI on a personal loan of ₹20 Lakhs for say, 5 years at an interest rate of 11%, would be around ₹43,975.

You can calculate the EMI for your personal loan with the help of an online EMI calculator.

The EMI on a personal loan of ₹1 Lakh for 5 years at an interest rate of 11% would be approximately ₹2,199 as per the calculator.

The formula for calculating an EMI is as follows:

EMI =P×r×(1+r)n(1+r)n−1

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