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Federal Bank Property Loan: INterest Rates | Documents | Eligibility

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
  • Trusts
  • Educational institutions/Societies
  • Partnership Firms
  • Private Limited Companies

Documents Required

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

  • Repayment period for Property Power is maximum 15 years.

Terms & Conditions

Security:

  • 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:

  • 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.

Other Conditions

  • 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
The terms and conditions mentioned above and elsewhere under the scheme are subject to modification from time to time solely at Bank’s discretion.