| RESULTS | |
|---|---|
| Loan Amount | ₹₹ 2,50,000 |
| Interest Rate | 10.99%% |
| Tenure(Months) | 224 |
| Monthly Instalment (EMI) | ₹₹ 2,631 |
| Total Interest Amount | ₹ ₹ 3,39,334 |
| Total Amount (Principal + Interest) | ₹₹ 5,89,334 |
Highlights
- Use EMI calculator to choose the perfect EMI.
- Check your EMIs before you apply for a personal loan.
A personal loan EMI calculator not only is beneficial to get the exact amount of the payment but also saves your time. In the case of personal loans, Federal Bank has the facility of flexible tenure with which you can choose the tenure that is suitable for you. It is also important to note that you must choose the tenure based on your EMI payment capacity.
Federal Bank Personal Loan EMI Calculator
Below is the EMI calculation if you plan to take a personal loan of ₹5 lakhs from Federal Bank and have go the rate of 11.75% per annum and the tenure you have chosen is 5 years. You can also go through the amortization schedule to see how much balance will remain at the end of each year if you pay the EMI regularly.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| LOAN AMOUNT | INTEREST RATE | TENURE | MONTHLY INSTALMENT | TOTAL INTEREST AMOUNT | TOTAL AMOUNT |
|---|---|---|---|---|---|
| ₹ 5,00,000 | 11.75% | 1 | ₹ 44,366 | ₹ 32,391 | ₹ 5,32,391 |
| ₹ 5,00,000 | 11.75% | 2 | ₹ 23,478 | ₹ 63,482 | ₹ 5,63,482 |
| ₹ 5,00,000 | 11.75% | 3 | ₹ 16,548 | ₹ 95,711 | ₹ 5,95,711 |
| ₹ 5,00,000 | 11.75% | 4 | ₹ 13,106 | ₹ 1,29,070 | ₹ 6,29,070 |
| ₹ 5,00,000 | 11.75% | 5 | ₹ 11,059 | ₹ 1,63,550 | ₹ 6,63,550 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| YEAR | PRINCIPAL | INTEREST | BALANCE AMOUNT |
|---|---|---|---|
| 1 | ₹ 78,075 | ₹ 54,634 | ₹ 4,21,924 |
| 2 | ₹ 87,760 | ₹ 44,950 | ₹ 3,34,163 |
| 3 | ₹ 98,646 | ₹ 34,064 | ₹ 2,35,517 |
| 4 | ₹ 1,10,882 | ₹ 21,828 | ₹ 1,24,635 |
| 5 | ₹ 1,24,742 | ₹ 8074 | ₹ 0 |
What is the formula used for EMI calculation?
Below is the formula that is used for the EMI calculation:
EMI=[P x R x (1+R)^N]/[(1+R)^N-1]where,
EMI=Equated Monthly Installment
P=Principal Loan Amount
R=Monthly Interest Rate
N=Number of Monthly Installments