Federal Bank Personal Loan

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.

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Federal Bank Online Personal Loan Details

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

Federal Bank Personal Loan Interest Rates & Charges

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
Note: The current rates may vary marginally and are inclusive of other charges.

FedPremia Personal Loan

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%

Federal Bank Personal Loan EMI Calculation

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.

Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Comparison of Federal Bank Personal Loan Vs Other Banks

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

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Note: The current rates may vary marginally and are inclusive of other charges.

Federal Bank Personal Loan Eligibility

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

FedPremia Personal Loan Eligibility

Let’s go through the eligibility criteria of FedPremia Personal Loan Scheme offered by Federal Bank from below:

  • Net monthly income: At least Rs 15,000
  • Eligible for employed or salaried employees
  • Maximum Age should be 60 years
  • Work experience should be of 3 years in the current job

Documents Required for Federal Personal Loan

Here is the table for Federal Bank Personal loan documents required to experience a smooth Federal Personal loan application :

Identity Proof:

  • PAN Card, Voter ID, Driving License, Passport
  • Copy of PAN card & 2 Passport Size photo

Address Proof

  • Electricity Bill/Lease agreement/Passport

Income Documents

  • Latest or Last 3 months salary slips
  • Form 16/Income Tax Returns (last 2 years)
  • Last 6 months salary account statement
  • Loan application form duly signed

Features of Federal Bank Personal Loan

Here the major feature and benefit of Federal personal loan;

Maximum Loan

Avail Loan amount upto Rs.25 Lakh

Interest Rate

Get loan on interest rate starting @11.49%p.a.

Tenure

Avail maximum loan tenure of 60 months

Minimal Paperwork

Get hassle free loan with minimal documentation

Processing

Faster the processing quicker loan

Avalibility

Available at all branchs

Steps to Apply for Federal Personal Loan with Buddy Loan

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:

  • Email Address
  • employment type: Salaried/ self-employed
  • Company Type
  • Industry Type
  • Current Company Name
  • Company Address
  • Year of Employment
  • Net Income
  • Mode of Salary
  • PAN Card Details
  • Full Name (As Per Pan Card)
  • Current Address with PIN Code
  • Mobile Number

Step 4 - Cross verify the given information and submit the application.

Ready to take next step ?

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Frequently Asked Questions On federal bank personal loan

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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