Federal Bank Loan Repayment

Repaying a loan feels simple when you have clear options and steady control over your money. Federal Bank gives you that comfort by offering easy ways to manage every instalment without stress. Whether you use a Federal Bank personal loan or any other loan, you get tools that help you plan better, stay organised, and avoid last-minute issues. You choose how you want to pay, and you track each step with confidence. This keeps your budget stable and protects your credit score while you manage your goals with ease.

You have several simple ways to repay your Federal Bank loan, and each method helps you stay on track without stress. These options give you full control over when and how you pay, so you never worry about missing an EMI. Here are the steps you can follow to make your Federal Bank loan repayment easily:

Online Methods

For those who prefer the convenience and security of digital payments, Federal Bank offers multiple online methods to repay your loan:

Pay through Federal Bank Net Banking

Follow these steps when you want a quick and secure online payment:

1. Log in to your Federal Bank net banking account

2. Select the ‘Loans’ section from the main menu

3. Choose your loan account from the list

4. Enter the EMI amount you want to pay

5. Confirm the details and proceed with the payment

6. Save the receipt for your records

Pay using the FedMobile App

These steps help you make repayments on the go with your smartphone:

1. Log in to the FedMobile app using your secure credentials

2. Tap on ‘Bill Payment’ under the Services menu on the home screen

3. Select ‘Loan Repayment’ from the available options

4. Choose your service provider from the list

5. Enter the loan account details requested by your lender

6. Check the instalment amount displayed or enter it manually if needed

7. Complete the payment using your linked bank account

Set up Auto Debit or Standing Instructions

This method ensures your EMI is paid on time every month:

1. Visit your Federal Bank branch or use the net banking portal

2. Request the auto debit or standing instruction setup form

3. Enter your loan account number and monthly EMI amount

4. Link your Federal Bank or other bank account for auto debit

5. Submit the form and confirm the start date for the deduction

6. Track your EMIs regularly to stay updated

Pay via NEFT or IMPS

Use any bank account to transfer your EMI amount easily:

1. Open your bank’s net banking or mobile banking app

2. Add your Federal Bank loan account as a beneficiary

3. Enter the loan account number and IFSC code

4. Choose NEFT or IMPS for the transfer

5. Enter the EMI amount and complete the payment

6. Check your loan account to confirm the credit

Offline Method

If you prefer handling your loan repayment in person, Federal Bank offers a simple offline option at their branches:

Pay at the Nearest Federal Bank Branch

If you prefer in-person repayment, use these steps:

1. Visit any Federal Bank branch with your loan account details

2. Request a loan repayment slip at the counter

3. Enter your loan account number and EMI amount

4. Pay using cash, cheque, or demand draft (as allowed)

5. Collect the stamped receipt for your records

Calculating your Federal Bank personal loan EMI helps you understand your monthly repayment and plan your budget with confidence. Federal Bank follows a standard EMI formula used across most retail loans. This formula gives you a clear idea of your monthly obligation before you apply. Apply the formula below to find your EMI:

EMI = P x R x (1 + R)N / (1 + R)N-1

Where:

• P refers to the total sum you borrow from the bank

• R is the monthly interest value, calculated by dividing the yearly rate by 12 and then converting it to decimal form

• N represents the full duration of your loan expressed in months

Suppose you take a Federal Bank personal loan of ₹5,00,000 at an annual interest rate of 12.75% for a tenure of 48 months.

• Loan amount (P) = ₹5,00,000

• Annual interest rate = 12.75%

• Monthly interest rate (R) = 12.75 / 12 / 100 = 0.010625

• Tenure (N) = 48 months

Now, applying the values to the formula:

• EMI = 5,00,000 × 0.010625 × (1 + 0.010625)⁴⁸ / [(1 + 0.010625)⁴⁸ – 1]

• EMI = 5,00,000 × 0.010625 × 1.664 / 0.664

• EMI = 5,00,000 × 0.01769 / 0.664

• EMI = ₹13,324

Your monthly EMI will be about ₹13,324. Over 48 months, the total repayment comes to ₹6,39,552, which includes ₹1,39,552 as total interest.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.