Federal Bank Personal Loan Interest Rates

Availing Federal Bank Personal Loans can help you fulfill any of your dreams from funding weddings and college education to buying home appliances to renovating your house. Minimal and simple documentation along with hassle-free process will allow you to acquire a personal loan from the bank. The maximum tenure of up to six years is offered by the bank on personal loans to the customers. There is no requirement for presenting collateral or any guarantor for availing the personal loan, and the bank offers the customers with a wide range of banking products with over 1000 branches across the country.

Federal Bank Personal Loan Interest Rates 2017:

Particulars

Salaried

Interest rate

11.75% to 14.65% yearly

Loan Amount

Maximum: up to Rs.10 lakhs

Loan Tenure

Maximum: 2 Years

Lowest EMI

None

Processing Fee

Applicable GST + Up to 2.5% per year for the loan amount sanctioned

Age

At the time of applying for the loan, the applicant should not be above 55 years of age

Prepayment Charges

Rs.500/- or 0.50% of loan amount

Foreclosure Charges

None

Federal Bank Personal Loan Interest Rates Key things:
  • It is advised that the applicant must possess a healthy credit score in order to avail the benefits of the personal loan offered by Federal Bank. It will help the applicant to get his/her loan sanctioned immediately. On the other hand, the applicant must be strong financially as the loan will depend on the bank review on the applicant’s credit score.
  • With RBI making certain changes to the repo rate, the interest rates offered by the bank is not liable to increase immediately. On the other hand, the bank before passing any hiked repo rate will analyze their cost of funds and liquidity.
  • Depending on the bank’s lending rate, the floating rates will change.  

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