The Federal Bank offers personal loans starting from 11.49% per annum for loan amounts up to Rs 25 lakh and tenures up to 5 years. Not just that, Federal Bank offers pre-approved personal loans as well to eligible customers, ensuring fast disbursal of funds.
With attractive interest rates, flexible repayment options, and quick approvals experience, a seamless loan availing process with Federal Bank personal loan.
Get quick approval with the most competitive interest rates at the comfort of your home. Here are the major highlights of Federal Bank Personal loan interest rates in detail:
Loan Amount | Up to Rs 25 Lakhs |
Interest Rate | 11.49% - 14.49% p.a |
Tenure | Up to 5 years |
Age | Up to 60 years |
Processing Fee | Up to 3% |
Income | Rs 25,000 |
Credit Score | 750 & above |
Table of Contents: federal bank personal loan
Recognized as one of India's prominent private sector banks, Federal Bank brings its FedPremia personal loan exclusively to the employed and salaried individuals with an income of Rs. 25,000 or above. Now, with the Federal personal loan interest rate begins with 11.49% - 14.49% p.a. To facilitate the loan process, a processing fee of 3% of the loan amount, plus applicable taxes, is levied.
Let’s go through the details from the table below:
Particulars | Fees & Charges |
---|---|
Interest Rate | 11.49% - 14.49% p.a |
Processing fees | Up to 3% |
CIBIL Charges | NIL |
CERSAI /Modification CHARGES | NIL |
Federal Personal Loan brings to you FedPremia Personal Loan offered specially for employees or salaried individuals with a monthly income of Rs 25,000. Also you can refer the table below for further details:
Particulars | Fees & Charges |
---|---|
Loan Amount | Up to 25 Lakhs |
Tenure | Up to 5 years |
Processing Fee (FedPremia) | Up to 3% |
Now plan your finances more efficiently with the Federal Personal EMI calculator. Streamline your financial planning by obtaining an accurate estimate of your Equated Monthly Installment (EMI). Now, experience the convenience of the newly launched FedMobile app by Federal Bank that allows you to effortlessly calculate and compare your loan EMI based on prevailing interest rates.
Know the best loan offers from leading banks to help you find the most suitable option for your needs. The table provides you to make more informed financial decisions that will suit your needs & requirements.
Loan Lender | Interest Rates (p.a) |
---|---|
Federal Bank | 11.49% - 14.49% p.a |
HDFC | 10.50% onwards |
State Bank of India | 11.00%-15.00% |
ICICI | 10.75% onwards |
Axis | 10.25% onwards |
Kotak Mahindra Bank | 10.99% onwards |
IndusInd Bank | 10.49% onwards |
IDFC First Bank | 10.49% onwards |
Bajaj Finserv | 11.00% onwards |
Tata Capital | 10.99% onwards |
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Note: The current rates may vary marginally and are inclusive of other charges.Before applying for a Personal Loan, it's crucial to understand the eligibility criteria. Federal Bank personal loan eligibility criteria estimates your eligibility under the criteria based on income, monthly expenses, age, work experience etc. For more information refer the table below:
Factors | Eligibility Criteria |
---|---|
Age | Up to 60 years |
Net monthly income | Minimum Rs. 25000 |
Work Experience | 3 years |
Type of Employment | Salaried individuals |
Credit Score | 750 above |
Let’s go through the eligibility criteria of FedPremia Personal Loan Scheme offered by Federal Bank from below:
Here is the table for Federal Bank Personal loan documents required to experience a smooth Federal Personal loan application :
Identity Proof:
Address Proof
Income Documents
Here the major feature and benefit of Federal personal loan;
Avail Loan amount upto Rs.25 Lakh
Get loan on interest rate starting @11.49%p.a.
Avail maximum loan tenure of 60 months
Get hassle free loan with minimal documentation
Faster the processing quicker loan
Available at all branchs
Here’s the step-by-step process that you can follow to apply for Federal personal loan on Buddy Loan:
Step 1 - Visit - buddyloan.com or Download & install Buddy Loan app
Step 2 - Fill out the application form, including the loan amount, the tenure months, and contact details.
Step 3 - Fill out the following personal details where required:
Step 4 - Cross verify the given information and submit the application.
Ready to take next step ?
Yes, with federal personal loans you can avail instant personal loans. However you can also directly contact the institution to inquire about their loan approval process, approval time, and loan disbursement process.
Eligibility criteria for a personal loan at Federal Personal loan can depend on factors such as age, income, credit history, employment status, and other requirements specified by the institution.
You can avail upto Rs25 Lakh personal loan amount from Federal Bank depending on factors like income, creditworthiness, and repayment capacity. Contact the bank for accurate information on loan limits.
Federal Bank personal loan provides FedPremia Personal Loan for employees and salaried individuals.
Salaried Individuals who have fulfilled the eligibility criteria for federal personal loan.
Federal Bank personal loan provides personal loan to employees with monthly income of Rs 25000.
No, you don't have to secure any additional security or collateral to avail a Federal Personal loan.
Federal Bank has not specified its turnaround time for personal loan disbursal. However, banks takes 2-7 working days for personal loan disbursal
Documents required for Federal personal loan include identification proof, address proof, income proof, bank statements, and other relevant documents.
You can avail a personal loan as a couple co-applicant on a Personal Loan turn into co-borrowers in a loan application is usually approved.
The applicants to have a minimum CIBIL score of 750 or more to be eligible for its personal loans
Customers of Federal Bank have the choice to settle their personal loans prior to the completion of the loan duration by incurring a small penalty of up to 3% of the remaining loan amount.
Customers of Federal Bank have the choice to settle their personal loans prior to the completion of the loan duration by incurring a small penalty of up to 3% of the remaining loan amount.
Federal Bank provides personal loans starting from 11.49% per annum for loan amounts up to Rs 25 lakh.
The best loan for personal use depends on individual needs and circumstances. However, a personal loan as a loan facility is crafted to suit your varied financial needs.
Federal offers 1 lakh for with interest rate of 6.6% for a tenure period upto 3 - 5 years.
Inorder to avail personal loan at low interest rate, it is advisable to compare interest rates from different banks and financial institutions to find the loan with the lowest interest rate that suits your requirements.
You can apply through the Federal bank loan lenders at Buddy Loan. Simply visit the Buddy Loan website or download the Buddy Loan app, and follow the application process to apply for a Federal Bank Personal Loan conveniently.
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