# Federal Bank Home Loan EMI Calculator

Loan Amount

Interest rate

%

1%

15%

Loan Duration

Yrs

1 Yr

30 Yrs

EMI

## 0

Principal Amount

Interest

Total Payable

What Is the Federal Bank Home Loan EMI Calculator?

The Federal Bank home loan EMI calculator is useful for calculating and comparing home loan EMI before applying. It uses three simple variables: the loan amount, interest rate, and tenure, to calculate the equated monthly instalment you might pay. After you enter the values, the calculator quickly estimates the value, saving your time.

EMI (Equated Monthly Instalment) is a fixed amount you must pay to the lender towards principal and interest payments on your home loan. Learning about the EMI in advance will assist you in planning your budget for smooth and timely loan repayment.

How Does the Federal Bank Home Loan EMI Calculator Work?

The calculator follows a standard formula for calculating EMI. It uses variables such as the loan amount, rate of interest, and tenure of the loan for the estimation. You can adjust these variables as many times as you want to compare their effects on your EMI.

The Federal Bank home loan EMI calculator eliminates the need for complex manual calculations and, therefore, the chances of committing errors. It estimates the EMI amount accurately every time and gives a break up of the principal and interest you will pay in total. Armed with this knowledge, you can plan your finances better and gain insight into the complete loan repayment process.

What Is the Federal Bank Home Loan EMI Calculator Formula?

The calculator has the EMI calculation formula built-in, which is: –

### EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Here,

P is the amount of money you borrow from the bank

R is the rate of interest per month charged by the bank

N is the tenure by which the loan has to be repaid (in months)

How to Use the Federal Bank Home Loan EMI Calculator Online?

You can use the Federal Bank home loan calculator to check the affordability of a loan or compare different options to select the most suitable one. Here are the steps you need to follows: –

1. Visit the online Federal Bank home loan EMI calculator page on Angel One’s website.
2. Enter principal: It represents the amount you have borrowed and need to pay back to the lender.
3. Enter the interest rate: It is the rate at which interest will be charged on the principal.
4. Enter the tenure: The tenure is the time during which the borrower is allowed to repay the loan in full.

The calculator will estimate the EMI, total payable amount, and interest.

Let us consider an example to understand the online Federal Bank home loan EMI calculator usage.

Suppose you want a loan of Rs. 20,00,000 for a tenure of 10 years at an interest rate of 11%.
So, enter the details on the calculator as follows:

• Loan amount = Rs. 20,00,000
• Rate of interest = 11%
• Tenure of the loan = 10 years

The calculator computes the values and displays the results as follows:

• EMI = Rs. 27,550
• Total interest = Rs. 13,06,000
• Total payable amount = Rs. 33,06,000
Benefits of Using the Federal Bank Home Loan EMI Calculator

The online Federal Bank home loan EMI calculator is a multipurpose tool. It can be used for estimating the EMI on home loans, budgeting, and comparing the effects of different principal amounts, interest rates, and tenures on the EMI. Here are the benefits of a home loan EMI calculator.

• Accurate financial planning: You can use the calculator for a home loan repayment schedule. Once you have it, you can use it to plan your budget and repay the loan effortlessly.
• Time and effort: You can avoid doing complex manual calculations and save valuable time. It produces accurate results every time. You can also change the variables to see how they affect your EMI. Based on the findings, you can choose a home loan EMI that aligns with your budget and financial goals.
• Financial decision-making: A home loan calculator helps you make informed financial decisions. It allows you to assess the impact of different loan parameters on your EMI and provides insights into your loan repayment progress.

## FAQs

What is the Federal Bank home loan EMI calculator? The Federal Bank home loan EMI calculator is a financial tool specially designed to calculate the EMI on Federal Bank home loans. You can use the tool to check your affordability and compare different home loan products in the market.
How to use the Federal Bank home loan EMI calculator on Angel One? These are the steps to use the online Federal Bank home loan EMI calculator on Angel One.
• Visit Angel One website for the Federal Bank home loan EMI calculator
• Enter the principal amount
• Enter the interest rate
• Enter the tenure
The calculator will estimate the EMI, total payable amount, and interest.
What is the formula to calculate the home loan EMI? The calculator uses the standard EMI calculation formula.
EMI formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1] Where, P = Principal amount R = Monthly rate of interest N = Tenure in month
Is the Angel One Federal Bank home loan EMI calculator free to use? Yes, it is a free tool available to anyone who wants to calculate their home loan EMI in advance.
What is the home loan interest rate at Federal Bank? The interest rate depends on the applicant's income level and type of employment. Banks also consider the economic conditions before deciding the interest rate.

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