Federal Bank Personal Loan: Benefits, Interest Rate, Eligibility, Documents

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Federal Bank Personal Loan: Friends, you must have taken money from someone at some point or the other. You need to read this when you have to fulfill some personal needs later. But you don’t have that much money for that. Reads you to go to a relative, But most relatives refuse you. Because relatives really do not have money, if they do, they do not have enough money to help you. Because if you need more money. So why do you often need a little more money? You must have also read the entire article on our website, in which we tell you that you should not take a loan from the bank. We tell you this because you cannot get at least a loan from the bank. But if ever you are in need of more money, then you should take a loan from the bank itself. Its benefits are also many. Firstly, you can also take a loan of the maximum amount from here.

You get to see the economic rate of interest if we compare it with any online loan application. You get the loan as soon as you get it. The bank itself wants you to take a loan from their bank. So today we are going to tell you about the bank, the name of that bank is Federal Bank. Federal Bank Bank is the most famous bank in India. Under which you can apply for a loan without any fear. You can also take a personal loan of up to 25 lakhs from here. So today we will know that Federal Bank Personal Loan? You will be charged the Federal Bank Interest Rate. So in today’s post, I will give you more information. Which will prove to be useful for you, if you want a Personal loan from Federal Bank.

Federal Bank Personal Loan info

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 your CIBIL score should be high to take this loan. 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.

Overview of Federal Bank Personal Loan 2021

Loan NameFederal Bank Personal Loan 2021-22
Lender’s NameFederal Bank
Loan amount up to maximumRs.25 lakh
Interest rate starting from10.49% p.a.
Loan Tenure48 Months
Processing ChargeUp to 3%
Official websitehttps://www.federalbank.co.in/

Federal Bank Personal Loan Interest Rate 2021

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. Just as we need to know about Home Loan Interest Rate 2021 before taking a home loan, in the same way, before taking a personal loan, we need to know about Federal Bank Personal Loan Interest Rate 2021. 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

How to apply for Federal Bank Personal Loan?

If you fulfill all the conditions of a 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.

Conclusion

In this article, we have provided you with complete information about Federal Bank Personal Loan 2021. If you want to take advantage of a Federal Bank personal loan, then you can understand the process of applying by reading this article. 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. Hope your friends have found this article informative. If you liked this article then please share it with your friends.

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