Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala. It is the fourth largest bank in India in terms of capital base.Your dream home is never far away! Get hassle free home loans from Federal Bank to turn your dream home into reality.Continue reading to view more details about this loan.
At least 21 years old
Less than 70 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Earn more than the minimum
Loan capped @ 80% of property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 30 years
Alternatively add your parents
|Interest Rate||8.60% to 9.20%|
|Processing Fees||0.50% of the Loan amount with a inimum of Rs. 3000 plus applicable tax, maximum of 7500 plus applicable tax|
|Loan Tenure||1 year to 30 years|
In today’s competitive world, owning a home has emerged as a major life milestone that signifies financial independence and coming of age. Whilst the Indian market offers lots of very attractive home loan packages for the first time or repeat home buyer, none compare to the simplicity, all round features and quality as offered by Federal Bank Home Loans. Indeed, what less can be expected from a bank that has been a prominent fixture in the Indian banking scene for half a century, and knows its local audience at the grassroots level?
As mentioned above, Federal Bank, erstwhile known as the Travancore Federal Bank, was founded in the pre-independence era, and today is known as one of the most stable and strongest banks in India. Its home loan product, known as ‘Federal Housing Loans’ is feature rich, flexible and highly in tune with the express requirements of the average Indian home loan seeker. Being a veteran definitely helps!!
A home loan can be defined as funds that a borrower seeks from a lender/bank in order to- a) Buy a new house/flat/apartment, b) Purchase land for the construction of a new house or, c) Renovate an existing building. Essentially, when speaking of the Federal Bank Home Loan, the following are on offer-
The key features of the housing loan from Federal Bank are as follows-
Federal Housing Loan
Loan to Purchase House Plots
Loan against your Existing Property
House Warming Loan
Loan repayment tenure stretches up to 60 months.
The eligibility criteria set for the acquisition of a home loan from Federal Bank is as simple and customer centric as possible. Any Indian resident, with a verified and regular source of income, self-employed and businessmen can apply, provided the following documents be submitted at the inception of the loan-
Federal Bank aims to provide the lowest rate of interest on its housing loans. The bank currently offers a floating rate of interest that varies between 9.57% to 9.82% on Federal Bank housing loans. This rate of interest is applicable for all kinds of housing loans offered by the bank. The above mentioned rate is a floating interest rate type and can fluctuate with time based on the market.
As the name so aptly suggests, a Home Loan Calculator (also called, Home Loan EMI Calculator) helps with the electronic computation of the Equated Monthly Installments (EMI) that applies to your home loan from Federal Bank. On BankBazaar.com, the friendly, time saving and highly interactive Home Loan EMI Calculator simplifies this often tedious task. Also, this calculating tool offers the following advantages-
A bank that has an intimate relationship with the average Indian customer for over half a century, a track record for quality and quick turn-around, deep adherence to emerging technologies while staying true to its traditional heritage, Federal Bank is all this and much more. Thus, their home loan product carries all the hints of a complete and customer centric approach. Definitely worth your time.
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