Federal Bank Personal Loan

Federal bank personal loan helps customers meet their various monetary requirements like medical emergency, debt consolidation, etc. Furthermore, The Bank is committed to easy documentation as well as fast allotment helping customers to avail a lot of services making their life easier by being better at finance management. Also, anyone looking for quick and straightforward disposal of Personal Loan may apply with Federal bank by checking in all the documentation and suitable requirements.

Why opt for Federal Bank Personal Loan

Uniquely, Federal bank grants you Personal Loan starting at Rs.50000 – 500000 depending on the client’s financial power, credit score, and professional background.

Furthermore, customers can benefit Personal Loan without much tension, and they can have their request permitted inside four working hours.

Federal bank requires very less documentation for the approval of the Loan, and the loan process is very speedy.

Also, no Guarantor or Cosigner is required to avail the Loan.

Eligibility

Salaried

Profession: The person should be working in a government, private or MNC Company.

Eligible Age: The Minimum age to apply for a Personal Loan is 18-55 years.

Self-Employed

Eligible Age: The Minimum age to apply for a Personal Loan is 18-55 years.

Profession: The Person should be professionals like Doctors, CA, CS, Architects, Lawyer, or, doing his own business.

Federal Bank Personal loan Interest rate

Interest rates start from 10.99% and vary according to the following reasons;

Profile of Customers

Tenure of the Loan

Documents Required

Salaried

Identity Proof: Adhar Card, Passport, Voter ID card or Driving License

Address proof: Ration card, Passport, rent agreement, electricity/water bill.

PAN card

Self-Employed

Identity Proof: Adhar Card, Passport, Voter ID card or Driving License

Address proof: Ration card, Passport, rent agreement, electricity/water bill.

Equally, important is the last six months of Bank statements.

Likewise, Latest ITR along with computation of income along with P/L audited by certified CA for the previous two years.

Tenure

As a matter of fact, Tenure is the period for which you get the Loan; here, it is for one to three years.

About Federal Bank

With a customer base of 8 million including 1.2 million NRI customers and a large network of remittance partners across the world, Federal Bank handle more than 15% of India’s inward remittances. The Bank has arrangements with more than 110 Banks across the world. Federal Bank is a Private Sector, scheduled commercial bank in India, headquartered in Aluva. The Bank also has its Representative Offices abroad at Abu Dhabi and Dubai. The Bank is also listed in the BSE, NSE and London Stock Exchange and has a branch in India’s first International Financial Services Centre at GIFT City in Gujarat.

FAQs (Frequently Asked Questions)

Q1. Why should I take a personal loan from federal Bank?

Ans. Federal bank personal loan per gram allows you to know a Federal bankoffers consumer loans under its bouquet of personal loans.

Q 2. What is interest charged?

Ans. 10.99% is the minimum interest rate charged by the Bank.

Q 4. What is Tenure?

Ans: The Tenure of Personal Loan is 12-60 months.

Q 5. What amount Personal loan amount I can borrow from Federal bank personal loan?

Ans: Comparatively, The applicant can get a loan amount of Rs. 50000 to 500000 at maximum for three years.

Q 6. How much does the Federal bank personal loan charge a processing fee?

Ans: The processing fee charged is 1% for GST.

Q 7. Is age an eligibility criterion in getting a Personal loan?

Ans: Yes, age is a factor to apply for a Personal loan. The minimum age of the applicant should be 18-55 years.

Q 8. Do prepayment charges apply?

Ans: The pre-closure charges are 0.