Federal Bank Personal Loan

With affordable interest rates, Federal Bank offers personal loans. Additionally, Federal Bank provides paperless digital loan processing along with online, quick personal loan. Federal Bank with interest rates starting at 11.49% - 14.49% onwards. A maximum loan from Rs 1lacs to 50 lacs with a maximum 1 to 5 year repayment period is available to you.

Interest Rate 11.49% - 14.49% onwards
Maximum Loan Rs 1lacs to 50 lacs
Processing Fees 2.50%
Maximum Loan Tenure 1 to 5 year

Loan Disbursal in 3 hrs*
100% Online Process

A Four-Step Guide to Efficient Financing

1
Complete Your Basic Details
2
Check Your Soft Eligibilty
3
Complete Your Details
4
Get Disbursal in account



Federal Bank Personal Loan EMI Calculator

Amount

Tenure

% Interest

Principal

Interest

Total Payable

Documents Required  for Federal Bank Personal Loan 

The second item you should focus on is the paperwork which is need for Federal Bank Loan apply: 

  • A passport, voter ID card, driver's licence, or PAN card is acceptable as identification.

  • Address verification (passport, lease agreement, ration card, and phone bill)

  • PAN card copy

  • The applicant's most recent passport-size photo in two copies.

  • Most recent pay stubs or a wage certificate, respectively

  • Two years' worth of Form 16 income tax returns

  • Statement of salary for the most recent six months

  • Completed and signed loan application


Personal loans from the Federal Bank Loan can be used for a number of things, such as paying for college, financing a wedding, renovating a home, etc. Due to the Federal Bank's accommodating repayment terms, low interest rates, and quick loan processing, customers can meet their financial needs without any issues. Customers who satisfy the bank's eligibility requirements may also easily submit an application for a Federal Bank loan either online or offline. Additionally, for a limited number of customers with very good credit scores, the bank offers tailored solutions. One of the biggest private sector banks in India, Federal Bank, provides the FedPremia personal loan to salaried people earning at least Rs. 25,000 per month. You are eligible for a loan up to Rs. 25 lakh with a four-year term and interest rates beginning

Feature and Benefit of Federal Bank Personal Loan 

Following are some of the many advantages to borrowing from Federal Bank Online personal Loan :-


Loan amount: A maximum loan of Rs. 25 lakhs may be easily obtained by borrowers. For a number of needs, it is adequate.


Payback period: You can pay your EMIs on schedule if you stick to the maximum payback period of 4 years set by the federal bank.


Reasonable interest rate : They offer loans at affordable interest rates that are both appealing and competitive. 10.49% to 17.99% p.a. is a possible range for their interest rates.


Quick application process : Processing of loan applications will happen more quickly.


Less paperwork : Less paperwork is required because you can apply via a digital platform, so there is less paperwork to do.


Process of applying Federal Bank Personal Loan 

Only by giving the information requested below may one for Federal Bank Personal Loan apply online :

  • Visit the official website Fincrif.com .

  • Firstly , login with your name and number .

  • Then fulfill your employment type.

  • Verify OTP.

  • Upload all the documents and submit .

  • Last , you will get a call from the Fincrif team and help you to proceed next.


Frequently Asked Questions ( FAQ ) 

  1. How do I use a different bank to make an online payment for my Federal Bank personal loan EMI?

ANS. Even if your net banking account is not owned by Federal Bank, you can link it to your personal loan from that institution and make payments.


  1. How do I receive updates regarding my Federal Bank personal loan on my mobile phone?

ANS. Check to see if Federal Bank has your mobile number on file if you want to receive updates on your personal loan.

  1. How long does it take the Federal Bank to disburse personal loans?

ANS. Following application acceptance, Federal Bank assures prompt disbursement of personal loans.


Access to personal loans: The Federal Bank's personal loans are accessible at all of its branches.

Eligibility Criteria for Federal Bank Personal Loan 

Unsecured loans are available from the Federal Bank to salaried people at reasonable rates. To be eligible for Federal Bank instant  loan, a person must be employed by a public sector enterprise (state or federal government) or a private limited company and these are the Federal Bank personal loan eligibility : 


  •  Throughout the loan application, 21 years old

  •  When the loan matures, there will be no more than 60 years.

  • Experience having worked for the current workplace for at least three years

  • 25,000 Indian rupees minimum monthly income

  • More than 750 on the CIBIL

  • Indian nationality, domicile

Fees and Charges of Federal Bank Personal Loan 

Joining feeJoining Fee (Primary cardholder) - Nil

Joining fee (Add-on card holder) - Nil
Annual membership feeAnnual Fee (Primary cardholder) - Nil

Annual Fee (Add-on cardholder) - Nil
Re-issuance of card feePlastic card - Nil

2nd card onwards - Rs.145

Metal card - Rs.3,000
Fee for cancellation of your cardIf the card is canceled within 6 months of the activation of the virtual credit card – Rs.3,000
Cash advance feeATM withdrawal fee – 2.5% of the amount withdrawn subject to a minimum of Rs.500
Service charges for transactionsRewards redemption fee - Nil

Forex markup fee - 1%

Over limit fee - 2.5% of the overlimit amount
InterestInterest free period - 48 days

Interest rate charged - 2.5% p.m. - 3.5% p.m. or 30% p.a. - 42% p.a.

Minimum amount due – 5% of the total amount due subject to a minimum of Rs.100
Charges in case of defaultLate payment fee - 2.5% of the total amount due subject to a minimum of Rs.1,000


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