Federal Bank Personal Loan

Preliminary Information

Loan Details

Personal Details


Federal Bank Personal Loan Details

Federal Bank star star star star star 3.75 / 5.04 users

Federal Bank personal loan is an unsecured loan meant to fulfil any financial needs you may have. The funds can be utilized for any expenses, such as home renovation, big-ticket purchases, travel, medical treatment, events, wedding, etc. A personal loan does not require you to provide security for the funds; it is collateral-free loan.

The Federal Bank is one of the popular banking institutions in the South India. With an existence from the pre-independence era, the bank was founded by Mr K.P Hormis. The bank was formerly known as the Travancore Federal Bank, now known as the Federal bank since 1947. The bank offers personal loans for different purposes providing people monetary help at times.

Our website, Loanbaba.com will provide you all details about personal loan Federal Bank.

Federal Bank Personal Loan Details Updated on 20th September 2020

Loan Amount

Maximum amount is Rs. 10 lakhs

Loan Tenure

Up to 48 months

Interest Rate

11.75% to 14.65% p.a.

Why Choose Federal Bank Personal Loan?

  • The advantage of this loan is its same interest throughout the duration.
  • Simple documentation is needed and the personal loan in Federal Bank then gets processed faster.
  • The customers can pay off the loan in easy instalments every month and can repay it via auto debit or PDC or ECS.
  • You can check out Federal Bank personal loan eligibility and Federal Bank Personal Loan EMI calculator at Loanbaba.com.

Features of Personal Loans at Federal Bank

The following key points will help you understand the features and benefits of the personal loans:

  • Eligibility criteria

The personal loans are offered only to the salaried individuals who can avail loan amounts more than the amount of salary they get every month. The minimum monthly salary necessary is Rs 50,000 per months. So, in case you earn more than the given amount, you can easily avail the loan.

  • Repayments of loan

The loan can be repaid in monthly instalments or EMIs through post-dated cheques or the ECS facility.

  • Maximum loan value

A person can avail a maximum of Rs 10 lakhs in the loan if he successfully has a good repayment history and a sound financial record.

  • Processing fee

The processing fee for all type of applicant is charged as 1% to 2.5% of the total loan value.

  • Personal Loan schemes

In case of salaried people, they can avail loans up to Rs 10 lakhs and make the repayment of the same in 48 months. This system also applies to individuals who do not have a Federal bank account.

Types of Federal Bank Personal Loans

Federal Bank has personal loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.

Why Apply for Federal Bank Personal Loan?

Loanbaba provides comprehensive information about personal loan schemes by Federal Bank. Keep a note of this page to stay updated with recent information on this bank loan scheme. You can also quickly apply for this loan online on the financial institution's official website without having to visit the bank branch. It is simple and easy, and you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.

Federal Bank Personal Loan Interest Rates

Personal Loan Federal Bank interest rate is between 11.75% and 14.65% per annum, but varies as per individual profile. Keep a check on this page to note the updated Federal Bank personal loan interest rate for the current year.

Federal Bank Personal Loan Eligibility Calculator

Personal loan eligibility may differ from one candidate to another. You can also use free-of-cost Federal Bank personal loan eligibility calculator at Loanbaba.com. The eligibility criteria for Federal Bank personal loan are discussed below:

  • The applicant for personal loan Federal Bank needs to meet the age requirement and possess all necessary identity and income proof required to apply for the loan.
  • He/she meet the requirement for credit score and should not be under too many debts.

Federal Bank Personal Loan FAQs

Below provided are important questions about personal loan Federal Bank.

  • addFAQs
    1. What is the tenure of the loan?
    2. The loan can be availed for a minimum of 12 months and a maximum period of 60 months making it convenient to repay for the borrowers.

    3. Who are the eligible applicants?
    4. Only the salaried and the self-employed professionals are eligible for the loan. Be it the residents or the NRIs; both can apply.

    5. What is the Loan amount offered?

    In case of salaried and the self-employed people, they can avail a loan of maximum six times their monthly salary not exceeding 50% of their annual income in the preceding year.

Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Federal Bank.

Federal Bank Personal Loan Review

Personal Loan
star star star star star 12.0/5
Personal loan by Federal bank was perfect, but the turnaround time is something they can work upon.
Mumbai September 18, 2020
Personal Loan
star star star star star 15.0/5
I had applied my personal loan in Mumbai at Federal bank. I was in dire need of funds and fortunately got the loan amount soon.
Mumbai September 18, 2020
Personal Loan
star star star star star 15.0/5
Taking personal loan in Gujrat by Federal bank through online portal of loanbaba was after all not a bad idea. This way I could communicate with the Federal without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.
Mumbai September 16, 2020
Personal Loan
star star star star star 13.0/5
The Federal bank has disbursed the loan amount required and I am satisfied with it. The interest rate and the charges are average.
Mumbai September 15, 2020

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