Check & Download Federal Bank Home Loan Statement

Managing your home loan effectively requires understanding your Federal Bank Home Loan Statement. This statement is a detailed record of all your loan-related transactions. It includes information on your payments, interest rates, and remaining balance. Regularly reviewing this statement can ensure your payments are on track, plan your finances better, and claim tax benefits. Whether you prefer online or offline methods, accessing your home loan statement is simple and informs you about your loan status.

Why is a Federal Bank Home Loan Statement necessary?

A Federal Bank Home Loan Statement is crucial for several reasons:

• Tracking Payments: The statement helps you keep track of your EMI payments, ensuring they are made on time. This helps avoid late fees and maintain a good credit score.
• Financial Planning: The statement provides details of your outstanding balance and interest rates, aiding in better financial planning. You can forecast future payments and budget accordingly.
• Tax Benefits: The statement serves as proof of interest and principal repayments, essential for claiming tax deductions under sections 80C and 24(b) of the Income Tax Act.
• Error Detection: Regularly reviewing your statement allows you to identify and rectify errors or discrepancies, such as incorrect charges or missed payments, ensuring accurate loan management.
• Loan Management: Understanding your loan statement helps you manage prepayments or part-payments, which can reduce your loan tenure and interest burden.
• Transparency: It provides complete transparency regarding your loan account, allowing you to stay informed and make informed decisions about your home loan.

Download the Federal Bank Home Loan Statement Online

Accessing your Federal Bank Home Loan Statement online is straightforward. Here’s a step-by-step guide:

Using FedNet (Internet Banking)

Login to FedNet:

• Visit the Federal Bank website.
• Enter your User ID and Password to log in.

Navigate to ‘Accounts’:

• Once logged in, go to the ‘Accounts’ section.
• Select your home loan account from the list.

Download the Statement:

• Choose the statement period you need.
• Click the ‘Download’ button to save the statement to your device.

Using the FedMobile App

Download and Open the App:

• Install the FedMobile app from the app store.
• Log in using your mobile banking credentials.

Access Your Home Loan Account:

• Navigate to the ‘Accounts’ section within the app.
• Select your home loan account.

Download or Email the Statement:

• Choose the desired statement period.
• Opt to download the statement or have it emailed to you.

How to Get Federal Bank Home Loan Statement Offline

If you prefer to obtain your Federal Bank Home Loan Statement offline, there are a couple of convenient methods:

Branch Visit:

• Visit your nearest Federal Bank branch.
• Approach the customer service desk or the loan officer.
• Provide your home loan account details and request a printed copy of your statement.
• The bank representative will generate and hand you the statement.

Phone Banking:

• Call the Federal Bank customer service number.
• Follow the voice instructions to connect with a customer service representative.
• Verify your identity by providing details like your account number and personal information.
• Request your home loan statement. The representative will arrange to mail the statement to your registered address.