If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    Federal Bank Car Loan Eligibility Calculator

    We found 1 Federal Bank Car Loan Eligibility Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.75% Fixed
    1,500 to ₹2,500 One time fee
    -
    1-5 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Federal Bank Car Loan Eligibility Calculator is Rated as "Pretty good" by 40 Users

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    Car Loan BYTES FROM OUR KITCHEN

    Federal Bank Car Loan Overview

    Your search for finding the best financing scheme for your new four-wheeler just ended. Avail a Federal Bank car loan and enjoy complete transparency with regards to charges and faster processing of loans. The personal car loan scheme from Federal Bank comes with lower EMI amounts and affordable interest rates to suit every type of borrower. Salaried individuals can take longer loan tenures up to 84 months and Federal Bank does not require any security to be provided for loan amounts of up to Rs 10 lakhs. A Federal Bank car loan can be availed by customers to finance either new four-wheelers or two-wheelers.


    Federal Bank Car Loan Eligibility

    Federal Bank car loans can be procured by salaried individuals, self-employed businessmen, corporate firms and Non-resident Indians (NRIs).

    Income Eligibility

    • For an applicant, the minimum net take home after deducting the intended monthly EMI amount and other liabilities should be Rs 7500.
    • If the applicant is clubbing any other sources of income like house rent or agricultural income, the required minimum monthly income should be atleast Rs 40,000.

    Factors affecting Federal Bank Car Loan Eligibility

    Net Take Home - Most banks have a specific net home amount that applicants have to meet in order to cross the eligibility mark. If after deductions, the applicant’s income does not meet the required net take home amount, banks might not sanction car loans. This is generally done to ensure that borrowers have the financial capacity to comfortably repay a car loan.

    CIBIL Score - Every bank that sanctions any type of car loan ensures that applicants have a good credit history and are regular in their bill payments and repayments. For getting easy sanctions and quick approvals, holding a good credit score always plays a key role for borrowers. This is a major criteria that banks will consider to ensure that the applicant will pay back the car loan without any hassles.

    Profession - The type of profession an applicant is involved in also affects the eligibility for a car loan. Federal Bank approves car loans with longer loan tenures for salaried employees, which helps them repay the debt in a comfortable manner. Some banks sanction different loan amounts, also depending on the profession of the applicant.

    How do you increase your eligibility for a Federal Bank Car Loan?

    • While availing a Federal Bank car loan, always take your spouse as the co-applicant. This will ensure that the income eligibility to be considered for the application will improve, with the bank taking into account the combined income of the applicant and co-applicant.
    • Federal Bank car loan borrowers can also include any other form of income like house rent or additional agricultural income to increase their eligibility criteria. The minimum monthly income of the applicant has to be atleast Rs 40,000/-.
    • An easy solution to improve your eligibility for a Federal Bank car loan, is to pay off all pending debts and loans. This will positively increase your eligibility, allowing the bank to sanction higher loans amounts.
    • In cases, where pre-closure or full repayments of debts are not feasible, then the applicant should consider increasing the loan tenure for an existing loan. This will lower the current EMI amounts and will also provide some funds to procure the new car loan.

    Federal Bank Car Loan Eligibility Calculators

    Federal Bank car loan borrowers should also ensure that they meet the required eligibility criteria with regards to age and income before reaching out to the banks for approvals. Doing a check on their eligibility before a loan is approved, helps them assess their financial situation and adjust their funds to suit the criteria given by the bank. Helping them here are specially designed tools named car loan eligibility calculators, which instantly inform borrowers whether they meet the eligibility criteria. These tools are easily available on the internet and require very minimum inputs. A car loan eligibility calculator requires details like name, age, profession, income, make of the car, model of the car, ex-showroom price or on-road price. The result is displayed in matter of seconds to users, helping them understand whether they qualify or not.

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  • Car Loan Reviews

    • 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? 0
      , 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? 0
      , 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
    • Federal Bank Car Loan
      "Response can be improved!"
      0.5 2.5/5 "Just OK"
      There is no proper response from Federal Bank executives once I applied for a car loan with them. The agent interaction was very good over the phone and it would be better if they provide a proper response to the applicants. I would suggest them for a proper follow up till the end of the procedure.
      Was this review helpful? 0
      , kochi
      Reviewed on Sep 19, 2015
    • Federal Bank Car Loan
      "Norms can be flexible!"
      0.5 4.0/5 "Great!"
      Since I got a better interest rate for car loan with SBI bank, I dropped the plan of taking the car loan with Federal bank in the initial stage itself. Federal was ready to provide me the expected loan amount when I applied for a new car loan with them. It would be better if they make the norms flexible in all aspects.
      Was this review helpful? 0
      , kochi
      Reviewed on Sep 19, 2015
    • Federal Bank Car Loan
      "Can be lowered!"
      0.5 3.0/5 "Satisfactory"
      There is no proper communication from federal bank and interest rate is high with them. Since I got a better offer with ICICI bank, I opted the car loan with them. Processing fees is high with federal bank and I applied for a new car loan with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 18, 2015
    • Federal Bank Car Loan
      "Good response!"
      0.5 5.0/5 "Blown Away!"
      Response was good from the Federal bank executives once I applied for a car loan with them. Interest rats is normal with them for the car loan when compared to other banks. Since I postponed the plan of taking the loan, I am not able to take the loan with them. Adding to that they are ready to provide me the expected loan amount.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 18, 2015
    • Federal Bank Car Loan
      "Rate of interest is very low...."
      0.5 3.0/5 "Satisfactory"
      I have a housing loan experience with Federal bank and I know the person from the bank very well so I have taken this car loan. Due to that person it was easy for me to move forward. Other than that the rate of interest is comparatively low but they lacks in response. Processing charge was 2% and sanctioned amount was 80% where I paid the rest of the amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 16, 2015
    • Federal Bank Car Loan
      "Wonderful.."
      0.5 5.0/5 "Blown Away!"
      Initially I planned to take a car loan but later I postponed the plan. No doubt that the Federal bank is very good in rate of interest for the car loan as 10.3% is the best price in the market. Not satisfied with the service as no one returned back for my application so I left the plan.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 15, 2015
    • Federal Bank Car Loan
      "Not good..."
      0.5 1.0/5 "Really Bad"
      Not satisfied with the Federal Bank services as they told me that they would give fixed rate of interest and they would offer 90% of the loan. Later they changed everything and mentioned that they can sanction only of 80%. They told me to open an account with them and I did, now that the account is active but the car loan was not processed.
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 15, 2015
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