Federal Bank Car Loan EMI Calculator

Federal Bank Car Loan EMI Calculator

The Federal Bank Car Loan EMI Calculator helps you accurately estimate your monthly EMIs for a car loan based on the loan amount, interest rate, and tenure. This tool simplifies financial planning by providing instant results, enabling you to budget your car purchase confidently.

How the Federal Bank Car Loan EMI Calculator Works

This calculator uses three key inputs:

• Loan Amount: The total amount you wish to borrow from Federal Bank for your car purchase.
• Loan Tenure: The duration of your loan repayment, typically ranging from 1 to 7 years.
• Interest Rate: The annual interest rate charged by the Federal Bank on car loans. For Q1 FY 2024–25, Federal Bank’s car loan interest rate starts from 8.75% p.a.

Once these inputs are entered, the EMI is calculated instantly using the standard formula:

EMI Formula

EMI = [P × R × (1 + R)^N] / [(1 + R)^N – 1]

• P: Loan Amount (Principal)
• R: Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
• N: Total Number of Monthly Installments

Benefits of Using the EMI Calculator

• Instant results without manual calculations
• Accurate EMI breakdown based on current Federal Bank rates
• Helps in comparing different loan tenures
• Assists in budgeting your monthly expenses efficiently

Example

If you borrow ₹6 lakh for 5 years at an interest rate of 8.75% per annum:

• Loan Amount: ₹6,00,000
• Tenure: 60 months
• Interest Rate: 8.75%

You will get:

• EMI: ₹12,378 approx.
• Total Interest Payable: ₹1,42,703
• Total Amount Payable: ₹7,42,703

Disclaimer : The results given by the above calculator are for illustration purpose only. They are often based on a number of assumptions. The results given are in no way any guarantee of the returns that will be given. Investments in stock markets and securities markets are subject to market risks and other risks. There is no guarantee of the return that will be actually given. Investment in other financial products may also be subject to market risks and other risks. There is no guarantee of the returns that will be given by them. The calculator also does not make any recommendation directly or indirectly. Please consult a registered Financial Advisor before taking any investment decision.