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  • Federal Bank Car Loan EMI Calculator is Rated as "Great!" by 47 Users

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    Federal Bank Car Loan EMI Calculator

    Customers of Federal Bank are offered a car loans at pocket-friendly prices and affordable interest rates. The car loan offered by Federal Bank can help customers purchase their dream vehicles without having to go through financial hassles. With effect from September 2018, Federal Bank offers car loans for new cars at an interest rate ranging between 8.65% and 9.20%. Car loans for used cars are offered by the bank at an interest rate of 13.75%.

    It is very important for prospective borrowers to do their research before applying for a car loan. To this end, individuals who are looking to apply for loans can use a car loan EMI calculator tool to get a complete breakup of the loan. The EMI calculator is designed to ensure that prospective borrowers understand the breakup of their loan repayment.

    How to use BankBazaar Federal Bank Car Loan EMI Calculator to understand your car loan repayment

    To calculate your car loan EMI for various tenures, you can use the EMI calculator tool that is available on the BankBazaar website, an individual can calculate the EMIs for various tenures. This tool is easy-to-use and works on an attractive interface. It even provides you an amortization graph that enables you to visually analyse your debt repayment schedule over a period of time.

    Federal Bank Car Loan EMI Calculator – How does it work?

    If a person wants to calculate the details of their car loan, they would simply have to input the details pertaining to their loan into the EMI Calculator tool. The steps mentioned below will have to be followed to ensure that the customer gets the most accurate results on their car loan:

    • Once you navigate to the car loan EMI calculator webpage on the BankBazaar website, you will need to key-in the loan amount that you wish to apply for. The customer can also choose to drag the pointer to indicate the loan amount that they wish to apply for.
    • Next, you will have to either key in the loan tenure or drag the pointer to indicate the loan tenure.
    • You will then have to enter the interest rate that is charged by Federal Bank when providing you the loan.
    • After entering the interest rate, you will have to enter the processing fee that is levied on the loan by the bank.
    • Next, you will need to indicate if you wish to make prepayments during the loan tenure or not. If you do wish to make prepayments, you will have to provide additional information such as the prepayment amount, prepayment fee, prepayment frequency, and so on.
    • If you do not intend to make prepayments towards the car loan, you will need to select the appropriate option and then click on the “Calculate” button. The customer will then be provided with a breakup of the total amount that they will have to pay.
    • The EMI calculator tool provides an insight into the loan amount and tenure with the option of prepayment and without it.

    Additionally, the tool provides an insight on the loan amount and tenure with the option of prepayment and without it.

    Example: Let us imagine a scenario in which the interest rate offered by the bank is 9.75% and the processing fee is 2% of the loan. The example assumes that no prepayments are made towards the loan. Let us analyse the EMIs (for various tenures) on car loans using the BankBazaar Federal Bank Car Loan EMI Calculator.

    Calculate your Car Loan EMI
    Loan amount (Rs.) Interest rate Processing fee EMI for 2 years (Rs.) EMI for 3 years (Rs.) EMI for 4 years (Rs.) EMI for 5 years (Rs.) EMI for 6 years (Rs.) EMI for 7 years (Rs.)
    10 lakh 9.75% 2% 46,030 32,150 25,243 21,124 18,400 16,472
    15 lakh 9.75% 2% 69,044 48,225 37,864 31,686 27,600 24,708
    20 lakh 9.75% 2% 92,059 64,300 50,485 42,248 36,800 32,945
    25 lakh 9.75% 2% 1,15,074 80,375 63,107 52,811 46,000 41,181
    30 lakh 9.75% 2% 1,38,089 96,450 75,728 63,373 55,200 49,417
    35 lakh 9.75% 2% 1,61,104 1,12,525 88,349 73,935 64,400 57,653
    40 lakh 9.75% 2% 1,84,118 1,28,600 1,00,971 84,497 73,600 65,889
    Apply for Car Loan Online

    BankBazaar Federal Bank Car Loan EMI Calculator – Features and Benefits

    The car loan EMI calculator is a handy tool to use when an individual wants to apply for a car loan. Some of the key features and benefits of the BankBazaar EMI calculator are as follows:

    • The EMI calculator tool that is available on the BankBazaar website is free-of-cost.
    • In case a customer faces any issues when using the EMI calculator tool, they can get their queries solved by a team of highly trained individuals at BankBazaar.
    • This is a user-friendly tool that displays the amortization table along with the loan breakup.
    • The tool can be used multiple times till you arrive at the right combination of tenure, principal, and an affordable EMI rate.
    • The tool provides the option of inputting any prepayment that a customer wishes to make during the loan tenure.

    Federal Bank Car Loan EMI Calculator FAQs

    1. What are the significant features of the Federal Bank car loan?

      Some of the key features and benefits of car loans offered by Federal Bank are as follows:

    2. What is a car loan amortization table?

      A car loan amortization table shows the payment schedule of your debt in a tabular format. It displays the breakup of the principal amount, interest rate, the total paid amount, and the outstanding loan balance.

      • The bank provides loans up to 100% of the car’s ex-showroom price.
      • The lender offers a repayment period up to 84 months.
    3. The bank offers competitive and affordable interest rates.
    4. The bank offers a personal accident insurance cover with a sum insured of Rs.10 lakh to borrowers free-of-cost.
    5. The car loan can be availed for both used cars and brand new cars.
    6. The bank processes the loan application in a quick and timely manner.
    7. What is the formula for calculating car loan EMI?

      Car loan EMIs are calculated using the following formula:

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

      Where, P is the principal amount, R is the interest rate on a monthly basis, and N is the number of installments.

      This formula does not take into account the prepayments that you make towards the loan.

    8. Is it easier to calculate the EMI using the formula or an excel sheet, in comparison to the EMI Calculator tool?

      No, calculating the EMI using the formula or an excel sheet would be time-consuming and error-prone. Moreover, it would be complicated to calculate the EMI when prepayments are made towards the debt. Hence, it is recommended to use the Bankbazaar Federal Bank Car Loan EMI Calculator for the same.

    9. Will I have to pay a prepayment penalty if I wish to prepay my loan amount?

      It is advisable to read through the loan documentation to understand if the bank will levy a penalty for the same. Alternatively, you can visit the nearest branch of the lender or call the bank’s customer service desk for information about prepayment charges.

    Car Loan Reviews

    • Federal Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My experience was good with Federal Bank for car loan, the process was smooth and i received my loan amount on time. Customer service was good with this bank and they collected documents on time. The tenure period for this loan is 7 years
      Was this review helpful? 2
      , kochi
      Reviewed on Oct 15, 2018
    • Federal Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the car loan within a week time from the FEDERAL BANK. The customer support service is good with the FEDERAL BANK and they were prompt in their response part. The rate of interest and the charges are average with the FEDERAL BANK car loan services.
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 08, 2018
    • Federal Bank Car Loan
      "Swift "
      0.5 5.0/5 "Blown Away!"
      Federal bank car loan is very swift in processing the request. I had some issues they executed the request after analyzing my needs. Though i am not a customer of Federal bank they have considered my profile and details they have processed the loan with ease. Because of the above mentioned reasons i prefer using Federal bank services
      Was this review helpful? 0
      , coimbatore
      Reviewed on Sep 30, 2017
    • Federal Bank Car Loan
      "Federal bank car loan"
      0.5 5.0/5 "Blown Away!"
      My experience with Federal bank is far beyond words, as they have accepted my proposal with one hour and the funds were disbursed in 2 days, they took 2 days because there was some delay with the deliver of car because of waiting period it took 2 day s otherwise they were ready to do it instantly. No prepayment nor processing fee. I can even repay the amount the very next day of receiving the loan amount. I hardly pay only 1000 as the documentation charge which is too meager. I had changed the car model initially it was MARUTI SUZUKI BALENO later I changed it.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 27, 2017
    • Federal Bank Car Loan
      "Timely Service"
      0.5 5.0/5 "Blown Away!"
      The interest rate with Federal bank for the car loan is around 8.9%. They had already approved my car loan application. And they are providing timely service. It is in process. They are calling me and updating the status of the loan properly.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 23, 2017
    • Federal Bank Car Loan
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      Interest rate is around 8.5% for the car loan from Federal Bank. Actually the car showroom suggested the federal bank for my loan process and the entire process was taken care by the showroom people. The loan process went smooth and I got the loan on time without any hassles.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 01, 2017
    • Federal Bank Car Loan
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      Federal bank have provided the car loan with the rate of interest as 7% , also they have provided funds up to 95% of the cost of car. Response was really good one like the loan amount got disbursed within three days of time. Documentation procedures were really nominal one with them.
      Was this review helpful? 1
      , ahmednagar
      Reviewed on May 23, 2017
    • Federal Bank Car Loan
      "Good Service"
      0.5 4.5/5 "Excellent!"
      From Federal Bank, I got the better interest rate for my car loan. The interest rate is 8.64%. Also, it was easy to avail a loan from them, the process went without any hassles. They were very responsive on my loan application and they provided all the information on my loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 27, 2017
    • Federal Bank Car Loan
      "Excellent and prompt service"
      0.5 5.0/5 "Blown Away!"
      Federal bank had coordinate well they gave very prompt and genuine service. They processed the application very shortly disbursed the amount on time.I am happy about the Rate of interest was normal of 9.75% it was normal. I totally had very good service from Federal.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 15, 2016
    • Federal Bank Car Loan
      "Best "
      0.5 3.5/5 "Pretty good"
      Bank Bazaar is Best For Loan, Details, Contact, Everything is up to date I wish You To help Me With The Car Loan For the New suzuki Swift Desire Car first time I am applying For the loan Fir The Procees Am Hoping For A Positive Response ThankYou Bank Bazaar.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jul 15, 2016
    • Federal Bank Car Loan
      "Quick processing "
      0.5 5.0/5 "Blown Away!"
      I bought a Mahindra Xylo and the finance was for Rs.4.75 Lakhs for a tenure of 4 years, around 3 years back. I had availed a car loan from Federal bank on the basis of a current account with them. The rate of interest offered at the time was 12-12.5% and the processing fee was approximately 2-3k and they took about 10 days to process the application. This includes documentation, verification and disbursal. The rest I chose to pay as down payment.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 21, 2016
    • Federal Bank Car Loan
      "Recommendable "
      0.5 4.0/5 "Great!"
      When i took the car loan with federal bank before two years the service was not up to the mark but now they are very good . They took one month to disburse the amount but the interest rate is very less compared do the other bank and payment option are flexible. The paper required are little complicated.
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 11, 2016
    • Federal Bank Car Loan
      "Best service "
      0.5 5.0/5 "Blown Away!"
      I was not requiring for a loan since I have bought a used car.The service provided federal bank was really good.They have responded very quick for the application being submitted.The interest rate applied in the loan was a best rate.I would like to recommend about this service to others.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 04, 2015
    • Federal Bank Car Loan
      "Good service "
      0.5 5.0/5 "Blown Away!"
      I am satisfied with the service provided by Federal Bank based on the car loan application.I have postponed the plan of getting this loan.They have applied 7% as the precessing fee for this loan.I would definitely recommend about Federal Bank to others.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 04, 2015
    • Federal Bank Car Loan
      "Good response "
      0.5 5.0/5 "Blown Away!"
      It was a very good experience with Federal Bank based on the car loan application submitted.They have responded very immediately regarding the application being submitted.The response provided was good and they are providing clear information about the service.
      Was this review helpful? 0
      , kochi
      Reviewed on Nov 04, 2015
    • Federal Bank Car Loan
      "Very good.."
      0.5 5.0/5 "Blown Away!"
      Federal bank is my bank as I am an employee. Once I file the car loan application within a day the loan got sanctioned. They are giving 10.30% in floating and that is for public. Though I am an employee I got it as in public rate. Soon I get reduce in the rate.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 31, 2015
    • Federal Bank Car Loan
      "Response can be provided on time!"
      0.5 2.5/5 "Just OK"
      Processing time was pretty late with Federal Bank car loan application. It took around a week for them to respond to my application. I would suggest them to improve their customer service and the response can be provided on time, so that they will not miss the applicants.
      Was this review helpful? 1
      , kochi
      Reviewed on Sep 22, 2015
    • Federal Bank Car Loan
      "Proper reason can be disclosed !"
      0.5 2.0/5 "Expected more"
      Follow up is properly done by the Federal people, when I applied for a car loan with them. Even though my application got closed with them, there is no reason disclosed for that. It would be better if they disclose the proper reason of closure to the applicants.
      Was this review helpful? 1
      , calicut
      Reviewed on Sep 22, 2015
    • Federal Bank Car Loan
      "Good response!"
      0.5 2.0/5 "Expected more"
      The car loan application process is very good with Federal bank. There is no basic requirement to take the loan with them. Since I got my personal loan amount sanctioned, there is no need for me to take the loan with them. The customer service is well offered by them.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Sep 19, 2015
    • Federal Bank Car Loan
      "Interest rate can be lowered!"
      0.5 4.0/5 "Great!"
      Banking services are good with Federal Bank, but the interest rate is high with them for car loan application. Since I got a better interest rate with ICICI Bank, I dropped the plan of taking the loan with Federal bank in the initial stage itself. I would suggest them to lower the interest rate.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 19, 2015
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