Federal Bank Personal Loan

Features and Benefits of Federal Bank Personal Loan

Check out the various attractive features and benefits of the Federal Bank Personal Loan below:

• Optimum Loan Amount: Federal Bank offers the optimum loan amount that suits almost everybody’s urgent needs. Neither too much nor too less, Federal Bank makes sure that even the maximum loan amount (INR 25 lakh) sanctioned not only meets ends but also can be repaid without the borrower being overburdened.
• Ideal Repayment Tenure: Nobody likes a prolonged repayment period. Keeping this in mind, the Federal Bank offers a maximum tenure of 48 months (4 years) for the repayment of personal loans at affordable interest rates, ranging from 10.49% to 17.99% p.a.
• Quick Processing and Minimal Documentation: With minimal document requirements and online and offline accessibility, the Federal Bank ensures that its loan processing is as fast as its application.
• Easy Interest Rate Change: Even if you have taken a Federal Bank personal loan at a floating interest rate, you can easily change it into a fixed interest rate and vice versa.
• No Hidden Costs and Admin Charges: Completely transparent and reliable, Federal Bank ensures that there are no hidden costs or unnecessary administration charges levied for a personal loan.

Federal Bank Personal Loan Eligibility Criteria

Federal Bank offers affordable and economical unsecured loans to salaried individuals. Any individual working in public sector undertakings (state or central government) or private limited companies can apply for this loan. 

Documents Required for Federal Bank Personal Loan

Submit the following documents to apply for a Federal Bank Personal Loan.

Federal Bank Personal Loan EMI Calculator

The Federal Bank Personal Loan EMI Calculator assists you in calculating the equated monthly instalments payable on your loan. EMI is a crucial component of your loan that determines the loan amount and the tenure. Hence, it is necessary to have a roughly estimated figure in your mind before applying for the loan. 

To calculate the EMI, you must drag the sliders provided in the calculator to enter the loan amount, interest rate, tenure, and additional monthly payments (if applicable). By clicking on the ‘calculate’ button, a line graph representation and an amortisation table will be displayed on your screen, reflecting your EMIs and interest payable over the loan tenure.

Federal Bank Personal Loan Customer Care

For any queries regarding the Federal Bank personal loan, you can contact the customer care service or drop an email, and they’ll reach out to you.