Federal Bank Property Loans: Get Detailed Information Regarding Documents Requirement, Eligibility, EMI, Process, Fees & Charges and Other Parameters which are required for getting property loan from Federal Bank in India.
Key features & Benefits of Federal Bank Property Loan:
- Quick loan processing
- Longer repayment period- up to 15 years
- Lower Interest Rates & EMIs
- Loan Amount: Up to 50% of the security value, maximum Rs.5 Cr
- Loan can be availed as overdraft as well as Term Loan
- Minimal Paperwork
- Surrogate Scheme for Self Employed Category available
- Balance Transfer Programs with additional finance
- Insurance options available at attractive premiums.
Property Power is offered against residential premises, a plot of land or commercial properties as per your convenience.
Who can apply? Eligibility
- Individuals (Residents, Non-residents, PIOs)
- Religious institutions
- Educational institutions/Societies
- Partnership Firms
- Private Limited Companies
The following documents are required for the purpose of credit appraisal:
- Loan application form duly filled and signed
- Your income documents and bank statements.
- You address, Identity and age proofs
- Repayment period for Property Power is maximum 15 years.
Terms & Conditions
- Mortgage of immovable property
- Property in the name of close relatives also will be accepted
- For granting Property Power to PIOs, the property shall be in their own names.
- Insurance options for Property Power Loan at attractive Premiums
- Amount for insurance can be included as a part of our loan component subject to satisfactory repayment capacity & availability of required security margin as per norms.
Service Charges applicable
- Processing Charges /Administrative Fee – 1% of the sanctioned limit (Any charge which may have to be incurred by the Bank over and above the Administrative Fee collected, with respect to processing/ sanction of the loan, will have to be met by the borrower).
- Penalty for early closure- 2% of the balance outstanding or DP whichever is higher.
- Bank reserves the right to reject any application without assigning reasons thereof
- The applicant will undertake to inform the Bank as and when there is a change in address or employment