Federal Bank Home Loan
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 Federal Bank Home Loan
Before applying for a Federal Bank home loan, it’s important to understand the eligibility criteria. This guide provides an overview of the key factors that determine your eligibility.
| 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
Federal Bank offers competitive home loan interest rates to help you finance your dream home. Here’s an overview of the interest rate options available for Federal Bank home loans.
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
Federal Bank Home Loan Application Process
Applying for a Federal Bank home loan is simple and straightforward:
- Check Eligibility: Ensure you meet the eligibility criteria for your chosen loan product.
- Gather Documents: Collect all the necessary documents for the application.
- Visit a Branch: Visit your nearest Federal Bank branch and complete the application form.
- Submit Documents: Submit the completed form along with the required documents.
- Application Review: The bank will assess your application and documents.
- Loan Approval: Once approved, your loan will be sanctioned, and you can begin your homeownership journey.
Do not want to get into this hassle? Get Federal Bank’s best rates in a single call.
Federal Bank Home Loan Customer Care
For any queries or assistance regarding your Federal Bank home loan, the bank offers dedicated customer care services. Here’s how you can easily get in touch with their support team for help.
- Request a callback at your convenience.
- Call the toll-free numbers: 1800 420 1199 or 1800 425 1199.
Comparison
| Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
| SBI Bank | 8.50% p.a. onwards | 8.5% p.a. onwards | 8.50% p.a. onwards |
| HDFC Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% 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 | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Punjab National Bank | 8.50% – 11.05% p.a. | 8.50% – 11.05% p.a. | 8.50% – 11.05% 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%-10.30% p.a. | 8.75%-10.30% p.a. | 8.75%-10.30% p.a. |
| Bank of India | 8.40% p.a onwards | 8.40% p.a onwards | 8.40% 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.