Federal Bank Personal Loan Apply, Interest Rate 2024

Federal Bank Personal Loan Apply, Interest Rate, Eligibility, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.

If you want to take advantage of Federal Bank personal loan then this article is for you. Personal loan comes under the category of an unsecured loan. Like other banks Personal Loan Bank , Federal Bank also provides personal loan to the people.

You can apply for this loan both online and offline. Federal Bank Personal Loan It is given by the bank on the basis of the credit history of the customer.

If your credit history is very bad then the bank will not approve your loan. In this article, we will know in detail what is Federal Bank Personal Loan, what is the interest rate, eligibility, documents etc. of this loan and how can we apply for this personal loan etc.,

Federal Bank Personal Loan

You can take a personal loan for any of your personal expenses like marriage expenses, medical emergency, higher education, children’s fees, travel etc. Federal Bank personal loan interest rate starts from 10.49% p.a.

Personal loan is given by the bank keeping in mind the credit history of the applicant, so to take an Instant Personal Loan , your CIBIL Score should be high. If you have a good credit history, then you can take advantage of the attractive interest rates of the bank. You can take this personal loan from any branch of Federal Bank.

Salaried individuals whose monthly income is up to Rs 25,000 can easily apply for Federal Bank Personal Loan . The maximum loan amount you can get under Federal Bank Personal Loan is Rs 25 lakh. The maximum tenure of the loan is 48 months. You can apply for this personal loan online or offline by visiting your nearest bank branch.

Federal Bank Personal Loan Overview

• Loan Name: Federal Bank Personal Loan 2024
• Lender Name: Federal Bank
• Loan Amount : Maximum Rs. 25 lakhs
• Interest Rate : Starting from 10.49% p.a.
• Loan Tenure: 48 Months
• Processing Charge: Up to 3%
• Official Website: https://www.federalbank.co.in/
• Read Federal Bank Wiki

Federal Bank Personal Loan Interest Rate 2024

Federal Bank personal loan interest rate starts from 10.49% p.a. This interest rate can change over time, so you can also get information about the current interest rate at your nearest bank branch or by visiting the bank’s official website.

Before taking a home loan , in the same way, before taking a personal loan, we need to know about Personal Loan Interest Rate 2024. If you apply for that loan without knowing the interest rate of the loan properly, then you may have to face difficulties at the time of repayment of the loan.

Benefits and Features of Federal Bank Personal Loan

• You can take advantage of Federal Bank Personal Loan to meet any of your personal expenses.
• You can get a maximum loan of up to Rs 25 lakh.
• The processing fee for the loan is up to 3% of the loan amount.
• Federal Bank Personal Loan interest rate starts from 10.49% per annum.
• Attractive interest rate.
• The maximum tenure of the loan is 48 months.
• Fast processing.
• You can avail this personal loan with minimal paperwork.

Federal Bank Personal Loan Eligibility

Only those people can apply for this loan who are eligible for it. To apply for Federal Bank personal loan, you must have the following eligibility:

• The minimum monthly income of a salaried person should be Rs 25,000 or more.
• The maximum age of the applicant should be 60 years at the end of the loan tenure.
• Applicant should be doing current job for at least 3 years.

Federal Bank Personal Loan Documents Required

Before applying for a personal loan, you should keep all your documents together so that whenever the bank asks you for documents, you can show them all the documents immediately. To apply for Federal Bank Personal Loan, you must have the following documents:

KYC Documents :

• Proof of Identity (Passport / Voter ID / Driving License / PAN Card)
• Address Proof (Ration Card Tel / Electricity Bill / Lease Agreement / Passport)
• copy of pan card
• Latest passport size photograph of the applicant (2 copies)

Income Documents :

• Latest Salary Certificate / Last 3 Months Salary Slip
• Form 16/Income Tax Return (last 2 years)
• Salary account details for the last 6 months
• Loan application form duly signed

Repayment Option

You can repay back many types of loans. The loan is repaid in Equated Monthly Installments (EMIs). You can use any one of the following methods to repay the loan:

• Standing Instruction Registration at your branch
• Internet banking
• Automatic payment through ECS
• mobile banking

Read Also: HDFC Bank Personal Loan

Federal Bank Personal Loan Apply

If you fulfill all the conditions of Federal Bank personal loan, then you can apply for this loan both online and offline. Information about the process of applying is given below.

Federal Bank Personal Loan Apply Online

• First of all you have to visit the official website of the bank federalbank.co.in .
• On the home page of the website, the option of Personal > Loans > Personal loans will appear, click on it.
• After clicking on this link, all the information related to personal loan will come in front of you on the next page.

• On this page you will see a form.
• Enter the required details in this form and submit the form.
• Your request will go to the bank. After that the bank will contact you and the loan process will be issued further.

How to apply offline?

• To apply offline, you have to first go to your nearest bank branch.
• After going to the bank branch, you have to contact the bank employee.
• Bank employee will provide you complete information about Federal Bank personal loan
• After that your documents will be verified.
• You have to fill a form and attach the documents with the form and submit it to the bank.
• If you fulfill all the conditions of the loan then the loan amount will be transferred to your bank account.

Federal Bank Personal Loan EMI Calculator

Before applying for Federal Bank Personal Loan, you should calculate the EMI (Equated Monthly Installment) of your loan so that you will get an idea of ​​how much you will have to pay at the time of loan repayment. You can calculate the EMI of your loan with the help of Personal Loan EMI Calculator by visiting the official website of the bank. The EMI of the loan mainly depends on the loan amount, interest rate and loan tenure. If you apply for a personal loan without calculating the loan EMI, then you may have to face problems at the time of loan repayment.

Personal Loan Fees and Charges

processing fee	up to 3
Prepayment / Pre-closure charges	For Floating Rate – Nil For Fixed Rate – 3%
Penalty for delayed repayment	2% of the overdue portion per month Additional penal interest applicable for SMA accounts
Fee rates for converting loan from fixed to floating	0.25% of the outstanding amount
Charges for CIBIL Report	Zero
Cersai Registration / Modification Fee	Zero

Federal Bank Personal Loan Customer Care Number

If you face any problem in applying or want to know more about this personal loan, then you can contact on Federal Bank Personal Loan customer care number.

• Toll free number : 1800 425 1199 / 1800 420 1199

Conclusion:

In this article, we have provided you complete information about How to get Federal Bank Personal Loan. If you want to take advantage of Federal Bank personal loan, then you can understand the process of applying by reading this article. 

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FAQs on Federal Bank Personal Loan