Lower principal will lower your EMI and vice versa. Principal - The principal is the loan amount that you avail from Bank.What are the factors affecting personal loan EMI? EMI's are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid to the bank along with interest. Your housing loan EMIs are fixed at the time of availing the loan. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your Federal Bank personal loan. Repayment of personal loans are to be made in Equated Monthly Installments (EMI).ĮMI stands for Equated Monthly Installment. How can I make repayment of Personal Loan? Personal loan interest rate will change subject to the changes made by Bank/RBI from time to time. Interest rates for Federal Bank Personal loans ranges from 10.49% p.a to 17.99% p.a. What is the rate of interest in Federal Bank for Personal Loan? ![]() Personal loans have a maximum tenure of 60 months ![]() To apply for a personal loan, please contact any of our branches or submit your contact details in the enquiry form provided below. Personal loans are granted to salaried individuals with minimum monthly salary of Rs.25,000/. How to apply Personal Loan in Federal Bank?
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