Important Details about Federal Bank Home loans:
|Interest Rates||9.57% - 9.82%|
|Max. Loan Amount||Upto 15 crore|
|Processing Fees||Max. Upto 7500/|
|Min. Income||Rs.12000/- p.m|
|Loan Repayment||upto 30 years|
Who can apply
Resident individuals including salaried people, self-employed and business persons apply for federal bank home loans.
The Federal Housing Loan scheme supports borrowers for construction of house, acquisition of land & construction of house, repairs / renovation / remodeling / extension of house, reimbursement of debt incurred for construction / purchase / furnishing / beautification / purchase of flat / villa / house plots / takeover of housing loans / supplementary housing loan to employees of well-run companies / purchase of house plot for subsequent construction of house etc.
Interest Rates on Housing Loans: 2016
Upto 30 Lakhs – 9.57%-9.82%
Processing Fees: 0.50% of the limit sanctioned with a minimum of INR 3000+ST, maximum of 7500+ST
Key features of Federal housing loan
- Speedy loan approval makes process easy
- upto 85% funding of the property value
- Minimal documents & paperwork
- Upto 15 crore of home loan
- Longer repayment schedule – up to 30 Years for makes payment easy
Other documents required to get home loan of federal bank:
Documents of Title – ie, Tittle Deed & Prior Deeds
Encumbrance Certificate (13 Yrs) From Sub. Registrar Office
Land Tax Receipt ( Latest), Possession Certificate, Approved Building Plan, Sketch of Diagram of property
About Federal Bank:
The Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala. As on 19 October 2015, Federal Bank has 1251 branches spread across 24 states and 1526 ATMs across the country.