Overview
Federal Bank
Discover home loan options with Federal Bank, featuring competitive interest rates starting at 8.80% p.a. and repayment tenures up to 30 years. Borrow up to ₹15 crore for various property needs, including plot purchases, home construction, renovations, and extensions. Tailored solutions are available for NRIs, and those seeking top-up loans or balance transfer services for enhanced financial management.
Rate of Interest
8.80%-11.00%
Loan to Value
80% - 90%
Loan Tenure
Max 30 years
Max Loan Amount
Upto 15cr
| Rate of Interest | 8.80%-11.00% |
| Loan Tenure | Max 30 years |
| Age | Should not exceed 55 years at the end of loan tenure |
| Profession | Salaried/Self Employed |
| Income | Should be not less than Rs. 50000/- |
| Nationality | Resident Indian/ NRI |
| Max Loan Amount | Upto 15cr |
| Plot Purchase | |
| Independent Building | |
| Apartment | |
| Resale Property | |
| New Construction | |
| LTV | 80% - 90% |
| Home Loan | |
| Plot Cum Construction Loan | |
| Balance Transfer | |
| Overdraft Facility | |
| Top Up Facility | |
| Other Offerings | Property Loan, House Warming Loan, Loan Against Property |
| Processing Fees | Low processing fees |
| Other Charges | No pre closure charges |
| Overdraft Facilities | - |
| Highlights | • Repayment holiday up to 36 months. • Optional funding for life insurance • No pre closure charges • Maximum funding for your dream house -85% of the project cost. • Easy top up loans in future. |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
| Loan Amount | ₹ 50,00,000 |
| Loan Tenure | 20 years |
| Rate of Interest | 8.80%-11.00% |
| Monthly EMI | ₹ 44,345 - ₹ NaN |
Eligibility Criteria for HSBC Home Loan
| Criteria | Salaried | Self-employed |
|---|---|---|
| Age Range | Should not exceed 55 years at the end of loan tenure | Should not exceed 55 years at the end of loan tenure |
| Nationality | Resident Indian/NRIs | Resident Indian/NRIs |
| Minimum Income | Should be not less than Rs. 50000/- | Should be not less than Rs. 50000/- |
Calculate your Federal Bank home loan eligibility and unlock exclusive offers for you!
Federal Bank Home Loan Interest Rates
Standard Home Loan Rates
| Salaried ROI | Self Employed ROI |
|---|---|
| 8.80% p.a onwards | 8.80% p.a onwards |
Get the best Home Loan interest rates tailored for you
If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
Federal Bank Home Loan Processing Fee and Charges
Processing Charges
| Charge Type | Amount |
|---|---|
| Processing Fees | A total of 1% of the loan amount sanctioned or INR10,000, whichever is higher |
| Prepayment Penalty | NIL |
Federal Bank Home Loan Documents
Identity Documents
| Document Name | Salaried | Self Employed |
|---|---|---|
| PAN | ✔ | ✔ |
| Voter ID | ✔ | ✔ |
| Passport | ✔ | ✔ |
| Driving Licence | ✔ | ✔ |
| Aadhar Card | ✔ | ✔ |
Proof Of Income
| Document Name | Salaried | Self Employed |
|---|---|---|
| Latest 3 months salary slip showing all deductions & Form 16 | ✔ | ✖ |
| IT Returns or financial documents for last 2 years and computation of income certified by a CA for last 2 years | ✖ | ✔ |
| Rental receipts or documents showing receipt of income | ✔ | ✔ |
Federal Bank Home Loan Schemes and Top Plans
Comparison
| Feature | Home Loan | House Warming Loan | Purchase of House Plots |
|---|---|---|---|
| Maximum Loan Amount | ₹ 15 crores | ₹2 lakhs | ₹25 lakhs |
| Interest Rate | 8.80% per annum onwards | 10.80% per annum onwards | 10.00% onwards |
| Tenure | up to 30 years | up to 5 years | up to 5years |
| Eligible Applicants | Salaried or self-employed | Salaried or self-employed | Salaried or self-employed |
Details
Home Loan
- Maximum Loan Amount: ₹15 Crore
- Interest Rate: 8.80% p.a onwards
- Tenure: Up to 30 years
- Eligible Applicants: Salaried or Self-employed
House Warming Loan
- Maximum Loan Amount: ₹2 lakhs
- Interest Rate: 10.80% per annum onwards
- Tenure: Up to 5 years
- Eligible Applicants: Salaried or Self-employed
Purchase of House Plots
- Maximum Loan Amount: ₹25 lakhs
- Interest Rate: 10.00% onwards
- Tenure: Up to 5 years
- Eligible Applicants: Salaried or Self-employed
How to Apply
Applying for an Federal Bank is a straightforward process:
- Check Eligibility: Verify that you meet the eligibility criteria for your selected loan product.
- Collect Documents: Gather all the required documents.
- Visit a Local Branch: Visit your nearest Union Bank Of India branch and fill out the application form.
- Submit Documents: Submit your application along with the required documents.
- Application Review: The bank will review your application and documents.
- Loan Approval: Upon approval, your loan will be sanctioned, and you can start your homeownership journey.
Do not want to get into this hassle? Get Federal Bank’s best rates in a single call.
Comparison
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.5% p.a. onwards | 8.5% p.a. onwards | 8.5% p.a. onwards |
| HDFC Bank | 8.7% p.a. onwards | 8.7% p.a. onwards | 8.7% p.a. onwards |
| LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
| ICICI Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Punjab National Bank | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. |
| Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. |
| Bank of India | 8.4% p.a onwards | 8.4% p.a onwards | 8.4% p.a onwards |
| TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
Frequently Asked Questions
Federal Bank offers home loans starting at 8.80% per annum, with the exact rate depending on factors like loan amount and applicant profile.
While Federal Bank doesn’t specify a minimum CIBIL score, a score of 750 or above is generally considered favorable for home loan approvals.