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.
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 per month |
| Credit Score | 750 & above |
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.
Your Amortization Schedule (Yearly/Monthly)
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 Bank | 10.50% onwards |
| State Bank of India | 11.00%-15.00% |
| ICICI Bank | 10.75% onwards |
| Axis Bank | 10.25% onwards |
| IndusInd Bank | 10.49% onwards |
| IDFC First Bank | 10.49% onwards |
| Bajaj Finserv | 11.00% onwards |
| Tata Capital | 10.99% onwards |
Note: The current rates may vary marginally and are inclusive of other charges.
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Federal Bank Personal Loan Eligibility
Before applying for a Personal Loan, it’s crucial to understand the eligibility criteria. Refer to the table for Federal Bank Personal Loan Eligibility:
| 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 |
Not sure of your credit score? Check now for free!
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 :
ID Proof:
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Address Proof
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| Income Documents |
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Features of Federal Bank Personal Loan
Here the major feature and benefit of Federal personal loan;
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 the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Ready to take the next step? Apply for a Personal loan now!
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Frequently Asked Questions
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