Federal Bank

Federal Bank Home Loan Details

9.00% - 9.25%

0.50% of the limit sanctioned with a minimum of Rs. 3000+ST, maximum of 7500+ST

1 year to 30 years

Nil

Nil

Guarantor Required if no co-applicant


Overview

The Federal Housing Loan scheme assists 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.

Features of Federal Bank Home Loans

  • Speedy loan approval
  • Get loan up to 85% of project cost
  • Minimal paperwork
  • Loan amount up to Rs.1500 Lakhs
  • Longer repayment period

Documents Needed

For Salaried:
  • Completed loan application
  • 2 passport size photos each of the applicant/ and the co obligant
  • Proof of identify (Voters ID card/ Passport/ Driving licence/ PAN card / Aadhaar Card)
  • Proof of residence ( Voters ID card/ Passport/ Driving licence/  Aadhaar Card)
  • Age Proof – Passport / Birth Certificate / Driving License / SSLC or AISSE Certificate
  • Latest Salary Certificate /  Salary Slip (3 months)
  • Latest 6 month's Bank Account statement evidencing the salary credits
  •  Copies of IT returns (2 years) or Form No.16 (2 years) 
For NRI Salaried:
  • Two passport size photos each of the applicant/ and the co obligant
  • Identity Proof – Passport / Voters ID / Driving License/ PAN Card / Aadhaar Card
  • Address Proof – Passport / Voters ID / Driving License / Aadhaar Card
  • Latest Salary Certificate / Salary Slip (3 months)
  • Copies of IT returns (2 years) or Form No.16 (2 years) 
  • Latest 6 month's Bank Account statement evidencing the salary credits
  • NRE account statement with any bank for last one year
  • Embassy / CRO certified Salary Certificate/ latest 3 months salary Slip OR Latest Salary Certificate / Slip (3 months) supported by 6 months Salary Crediting Statement

For Self Employed:
  • Completed loan application
  • 2 passport size photos each of the applicant/ and the co obligant
  • Proof of identify (Voters ID card/ Passport/ Driving licence/ PAN card / Aadhaar Card)
  • Proof of residence ( Voters ID card/ Passport/ Driving licence/  Aadhaar Card)
  • Age Proof – Passport / Birth Certificate / Driving License / SSLC or AISSE Certificate
  • Proof of Business existence & Business Profile
  • Last 12 months bank a/c statements
  • Last 2 years  Balance Sheet and Profit & Loss Account
  • Last 2 years Income Tax Returns with computation of Income
For NRI Self Employed:
  • Completed loan application
  • 2 passport size photos each of the applicant/ and the co obligant
  • Proof of identify (Voters ID card/ Passport/ Driving licence/ PAN card / Aadhaar Card)
  • Proof of residence ( Voters ID card/ Passport/ Driving licence/  Aadhaar Card)
  • Age Proof – Passport / Birth Certificate / Driving License / SSLC or AISSE Certificate
  • Certified copy of Passport, Visa, Work Permit, ID card
  • Proof of Business existence & Business Profile
  • Last 12 months bank a/c statements
  • Balance Sheet, P&L Account for the past two years. Where ever available, Tax paid challans may also be collected

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