Fedral Bank Home Loan Interest Rate:

Fedral bank home loan rate can be variable or fixed.

 Fedral bank home loan interest rate is calculated on BPLR. Fedral bank home loan rate has been calculated on 15.25% p.a BPLR.

Fedral bank home loan interest rate is also calculated on 8.50% Base rate. Fedral bank home loan rate will be applicable to all loan taken from 1.1.2011 onwards. 

Fedral bank home loan rate based on BPLR is effective from 15.12.2010. Fedral bank home loan rate, are regularly updated to its customers.

Fedral bank home loan interest rate keep changing as per the RBI norms. Fedral bank home loan interest rate can be confirmed from any Fedral Bank Branch.

Fedral Bank Home Loan Eligibility:

Fedral Bank Home Loan Eligibility Criteria For Salaried People:

As per the Fedral bank home loan review the person should have regular monthly income. Fedral bank home loan applicant should have at least Rs. 7500 as take home after loan payments. As per the Fedral bank home loan eligibility an applicant’s maximum age cannot exceed 65 years at the time of loan maturity.

Fedral Bank Home Loan Eligibility Criteria For Self Employed:

Fedral bank home loan review shows the self employed person should not exceed 65 years of age at loan maturity. Fedral bank home loan self employed applicant needs to show the latest IT return filed.  As per the Fedral bank home loan eligibility an applicant can include the income of his spouse.

Fedral Bank Home Loan Documents:

Fedral bank home loan review shows that one has to submit identity proof and income proof along with other documents mentioned above.

Federal Bank home loan review shows that one has to submit

Identity proof

 Income proof

Along  with filled application form

Two Photographs

Federal Bank Home Loan Documents For Self Employed

Income Tax return for last two years

Identity Proof

Residence Proof

Proof of existence of business

Federal Bank Home Loan Documents For Salaried

Form 16 for last two years

Bank Statement

Identity Proof

Residence Proof

Procedure And Options To Apply For The Loan:

The customer needs to submit duly filled form and attach related documents and submit it to the bank authorities for processing. The form is available at the branches or can be downloaded from the official website of the bank.

Maximum And Minimum Tenor Of The Loan:

According to the Fedral Bank Home Loan the loan is provided for a maximum period of 20 years in case of payment in equated monthly installments.

What would be the repayment options/facilities?

The customer can pay back his loan in equated monthly installments.

Pre Closure Process: In case a customer of  Fedral Bank home loan wishes to close his loan before the agreed period or term is termed as pre closure. In this case the bank charges or penalty can be know from the bank.

Tax Benefits: One can get tax benefits on the principal and the interest paid according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.