• Federal Bank Career Solutions

    Federal Bank offers financial assistance to those who wish to pursue higher education, take up vocational training courses, pilot training courses, etc., in the form of Federal Career Solutions Loan. The maximum amount of loan that you can avail under the scheme is Rs.75 lakh for studying in India and Rs.100 lakh for studying abroad. The interest rate for Federal Career Solutions Loan starts from 10.45% p.a.

    Features of Federal Career Solutions Loan

    • The loan availed should be repaid in a maximum of 120 months.
    • You can avail the loan to pursue higher education in India and abroad.
    • To avail the loan, you will have to apply for the loan with your parent/guardian as co-borrower.
    • Married applicants can apply with parents/spouse/parents-in-law as co-borrowers.
    • The moratorium period on the loan will be the course period plus 6 months or 3 months after employment, whichever is earlier.
    • If you discontinue the educational program, the loan will be closed immediately.
    • The repayment of the loan can be done through standing instruction (SI), cheques, internet banking, mobile banking, and electronic clearing service (ECS).

    Eligibility Criteria for Federal Bank Career Solutions

    • You must be an Indian citizen.
    • You must be aged between 18 years and 45 years.
    • You will have to provide proof of admission to the proposed program/course.
    • Your combined minimum net worth (with co-obligants) should be at least twice the loan amount.

    Documents Required for Federal Bank Career Solutions

    • Identity proof such as voter id card, passport, driving license, PAN Card, etc.
    • Proof of address such as electricity bill, passport, lease agreement, etc.
    • A photograph of the guardian and the applicant.
    • Detail of the admissible expenditures related to the course.
    • The guardian’s proof of income.
    • The mark sheet of the qualifying examination.

    Applying for Federal Bank Career Solutions

    Through Federal Bank’s website the forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail Federal Bank requesting an executive assistance for application process. A person interested in availing this loan can also visit Federal Bank’s nearest branch.

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