Crucial Highlights of Federal Bank Online Personal Loan

The federal bank offers personal loans to salaried applicants for loan amounts up to Rs.25 Lakhs to handle all sudden uncertainties and large expenses. Personal loans are collateral-free loans which is the reason for their high demand. Read more details to know about Federal Bank Online Personal Loan.

• You can avail of a personal loan amount of up to Rs.25 Lakhs from Federal Bank Personal Loan.

• Maximum loan repayment tenure is up to 4 years.

• Interest rates are charged up to 17.99% per annum.

• Processing fees are charged up to 3% of the total loan amount.

Features of Federal Bank Online Personal Loan

The various benefits to avail of Federal Bank online personal loan are as follows:-

• Applicants can easily avail of a maximum loan amount of Rs.25 Lakhs. The loan amount is high and able to fulfill various necessities.

• The loan repayment tenure of the federal bank is up to 4 years (48 months) which is flexible and you can pay your timely EMIs.

• Federal Bank offers personal loans at reasonable interest rates. Their starting interest rate is 10.49% per annum.

• Their loan processing time is less.

• Minimal paperwork and documentation are involved because you can apply with the digital platform directly.

• The personal loan provided by the federal bank is available at all their existing branches.

Federal Bank Personal Loan Eligibility Criteria

Before applying for a loan borrowers need to meet pre-determined Federal Bank personal loan eligibility parameters (FedPremia).

• Indian Resident whose minimum monthly net salary is Rs.25000/- and above.

• To avail of a Federal Bank online personal loan, the borrower’s maximum age limit is 60 years at the end of the loan tenure.

• The minimum number of years in the present Job is 3 years.

• Individuals who have a good credit score.

Documents Required for Federal Bank Online Personal Loan

The following is the suggestive documents list for applicants who are applying for a Federal Bank personal loan.

Essential KYC documents

• Identity Proof- Passport / Voters ID card/ Driving’s License/PAN Card

• Address Proof- Ration card / Electricity Bill/ Rent agreement/ Passport

• PAN card copy

• Two copies latest passport-size photos of the applicant

Mandatory Income documents

• Latest salary certificate or last 3 month’s salary slips are required

• Form 16 or Income Tax returns of the past 2 years

• Last 6 month’s salary account bank statement

• Loan application form which is duly signed

Federal Bank Personal Loan Interest Rate, and Other Fees

Interest Rates 10.49% to 17.99% per annum

Processing Charges Up to 3% of the total loan value

Foreclosure charges Floating rate scheme- NIL

Fixed rate scheme (including Byom loans)- 3%

Penal Interest 2% per month

Swapping charges (fixed to floating or vice-versa) 0.25% of the outstanding amount (balance) or drawing power, whichever is higher

Federal Bank Online Personal Loan Customer Care Number

1. PAN India- 1800 4251199 or 1800 420 1199 (toll-free numbers) to avail of the contact center services. Assisting executive will be available 24 x 7 to help with your concerns.

2. Email id- contact@federalbank.co.in (general queries)

3. Email id- fednetinfo@federalbank.co.in (internet banking)