Federal Bank Business Loan Calculator

The Federal Bank Business Loan Calculator is a simple tool present online that helps you with your borrowing journey. When using the calculator, you must enter information such as loan amount, applicable interest rate, and tenure. After you’ve entered all the information, the calculator generates the EMI amount you’ll need to pay. You can also experiment with different parameters to find the best EMI option for your budget.

This guide will guide you through the Federal Bank Business Loan EMI Calculator in more detail, including its benefits, features, and how you can employ it to plan your business loan.

Federal Bank Business EMI Loans Calculator: Features

The Federal Bank business loan EMI calculator has numerous attractive features. When a user operates the calculator, they may encounter its following features:

• The calculator has a user-friendly interface that even a novice can use.
• It displays results in a timely and trouble-free manner.
• The calculations for the business loan components are performed in real-time, making it less time constraining.
• The calculator gives immediate and precise results.
• This instrument assists borrowers in effectively anticipating expenses and repayments.
• User-friendly interface enables the borrowers to conduct an in-depth analysis of various interest rates, loan amounts and loan terms.
• You can get an amortisation schedule to help you understand your repayment amount and help you gain deeper insight into your financial standing.

Calculating Federal Bank Business Loan Online: Benefits

The benefits of using the business loan EMI calculator Federal Bank are given below:

• The calculator is available online, making it accessible and usable from any location, at any time, and on any device.
• The calculator is more convenient and accurate than manually calculating the result.
• As previously stated, you must be aware of your borrowing capacity prior to requesting a loan. It allows you to draw comparisons of the various amounts based on various interest rates.
• The interest rate, loan amount, and loan term must all be entered. The EMIs are calculated with merely a click.
• It is time-efficient as there is no manual calculation involved.
• Federal Bank Business Loan Calculator includes an in-depth amortisation schedule that includes the principal amount, date, EMI, and applicable interest for the duration of the loan. It is available monthly. For example, if you select a term of ten years, the schedule will include information worth 120 months.

Federal Bank Business Loan EMI Calculator Formula and How It Works

The Federal Bank Business Loan EMI Calculator works by taking into account the three factors listed below:

• Loan Amount: The basic amount borrowed by the applicant under the loan terms. Your Equated Monthly Instalment (EMI) will increase with the loan amount.
• Loan Tenure: The time period over which the borrower must repay the loan amount with the rate of interest. Because the loan is repaid in EMI, the term is generally expressed in months rather than years.
• Rate of Interest: The rate of interest charged on the loan amount. The rate of interest is determined by the applicant’s loan amount, credit history, and loan tenure.

The calculator uses the following formula to calculate your business loan’s EMI:

EMI = P * R * (1 + R)n/ (1 + R)n-1

Here,

• ‘P’ is the principal loan amount
• ‘n’ is the repayment tenure
• ‘R’ is the interest rate applicable

Things to Know While Calculating Federal Bank Business Loan

The following points must be considered while calculating the Federal bank business loan EMI. These factors play an essential role in determining the EMI.

Loan Tenure

This is the time frame in which the borrower must repay the loan amount plus interest. The longer the loan term, the more you will have to pay back because the loan is repaid over a longer period of time, and the interest and EMI component rises. As a result, the borrower should select an appropriate loan tenure during which they will repay the loan amount.

Loan Amount

The borrowed loan amount has a significant impact on the business loan EMI. Banks and other financial institutions typically approve applications for small loans at low-interest rates. The banks hesitate to grant large loan amounts if the risk involved is high.

Rate of Interest

The interest rate is the Federal Bank’s fee on the borrowed loan amount. It specifies the amount to be repaid at the term’s end. A good CIBIL score enables you to avail of a lower rate of interest and vice-versa. If you succeed in securing a lower-interest-rate business loan, your EMI will also be reduced. Conveniently, an increase in interest rates will increase the EMI amount.

Federal Bank Business Loan Amortisation Calculator

The Federal Bank Business Loan EMI calculator provides an in-depth amortisation schedule with respect to loan repayment. The following amortisation schedule is made with the principal amount being INR 15 lakhs, the rate of interest being 11.10% pa and the repayment tenure being 36 months.

Month	Principal (INR)	Interest (INR)	Principal + Interest (INR)	Balance to be Paid (INR)
1	35304	13875	49179	1464696
2	35631	13548	49179	1429065
3	35960	13219	49179	1393105
4	36293	12886	49179	1356812
5	36629	12551	49179	1320183
6	36967	12212	49179	1283216
7	37309	11870	49179	1245906
8	37655	11525	49179	1208252
9	38003	11176	49179	1170249
10	38354	10825	49179	1131895
11	38709	10470	49179	1093186
12	39067	10112	49179	1054119
13	39429	9751	49179	1014690
14	39793	9386	49179	974897
15	40161	9018	49179	934735
16	40533	8646	49179	894203
17	40908	8271	49179	853295
18	41286	7893	49179	812009
19	41668	7511	49179	770341
20	42053	7126	49179	728287
21	42442	6737	49179	685845
22	42835	6344	49179	643010
23	43231	5948	49179	599778
24	43631	5548	49179	556147
25	44035	5144	49179	512112
26	44442	4737	49179	467670
27	44853	4326	49179	422817
28	45268	3911	49179	377549
29	45687	3492	49179	331862
30	46109	3070	49179	285753
31	46536	2643	49179	239217
32	46966	2213	49179	192250
33	47401	1778	49179	144850
34	47839	1340	49179	97010
35	48282	897	49179	48728
36	48728	451	49179	0

Quick Way To Get a Business Loan From Federal Bank

Urban Money is an online platform that simplifies the process of getting a loan. It offers a quick loan opting process at the best interest rate and security. The following steps must be followed as a quick way to get a business loan from Federal Bank using the Urban Money website.

• Surf the official website of Urban Money
• On the top panel of the homepage, locate ‘Loans’ and select the ‘Business loan’ option from the drop-down menu.
• Enter your details like full name, mobile number, city, and the type of enquiry and choose the ‘Enquire Now’ option. 
• A representative of Urban Money will contact you and guide you through the further process of taking a business loan.