Federal Bank Personal Loan
With affordable interest rates and adjustable repayment terms, Federal Bank offers personal loans. There is little to no paperwork required in order to obtain a loan. Federal Bank with interest rates starting at 11.49% - 14.49%. A maximum loan of Rs 1lacs to 50 lacs with a maximum 1 to 5 year repayment period is available to you.
The personal loans offered by Federal Bankhave low interest rates and flexible payback schedules. A loan can be obtained with little to no paperwork. Interest rates on personal loans from Federal Bank start at 10.49%, making them a great option for any of your urgent financial requirements. You may be eligible for a loan with a maximum amount of Rs 20,000 to Rs 1 crore and a maximum payback term of 6 months to 5 years.
| Interest Rate | 11.49% - 14.49% | |
|---|---|---|
| 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 ProcessA Four-Step Guide to Efficient Financing
Federal Bank Personal Loan EMI Calculator
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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 :
Indicate whether you are an employee or a self-employed person.
Identifier and email address.
You must choose the residential city from the available alternatives.
Information on the present employer.
Minimum loan amount required.
An email address and phone number
FinCrif Frequently Asked Questions ( FAQ )
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.
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.
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
