Federal Bank Personal Loan of 10 Lakh

Unexpected expenses can strike at any time, leaving you scrambling for solutions. But what if there was a way to quickly and easily access a significant yet manageable sum of money? Here at Federal Bank, we understand the importance of preparing for life's curveballs. That's why we offer personal loans of up to ₹10 Lakh, designed to help you bridge the gap during challenging times. This page will guide you through everything you need about our personal loan options. Don't let financial stress hold you back. Let Federal Bank help you navigate life's twists and turns with confidence.

Personal Loan Options for 10 Lakh in Federal Bank

Looking for a ₹10 lakh personal loan? Federal Bank offers several options to meet your needs:

1. FedPremia Personal Loans:

• Perfect for salaried individuals seeking a quick ₹10 lakh loan.
• Competitive rates and a smooth application process.
• Ideal solution for urgent financial needs with flexibility and efficiency.

2. Pre-Approved Personal Loans (Existing Customers Only):

• Designed for existing Federal Bank customers with a strong relationship.
• Instant access to ₹10 lakh without delays.
• Seamless and paperless option for immediate funds.

3. Digital Personal Loans:

• Straightforward online application for a ₹10 lakh loan.
• Ideal for speed and convenience.
• Minimal documentation and fast disbursement for urgent situations.
• Hassle-free digital lending experience.

Features of Federal Bank 10 Lakh Personal Loan

Federal Bank’s loan offers features designed to address your immediate financial needs efficiently:

• Online applications often receive approval within 24-48 hours.
• Enjoy interest rates typically ranging from 11.99% to 17.49% for your ₹10 lakh loan.
• The process requires minimal paperwork, mainly focusing on KYC documents, income proof, and bank statements. Apply online for added convenience!
• Choose a loan tenure that fits your budget with various repayment options available.
• No need to worry about collateral! This loan doesn’t require any security deposit.
• Federal Bank offers clear information on processing fees and applicable charges, ensuring no hidden costs.

Can I Get a 10 Lakh Personal Loan Instantly From Federal Bank?

Yes, getting a ₹10 Lakh personal loan quickly from Federal Bank is possible, especially if you use their online services. If you’ve got all your paperwork in order, like your ID and proof of income, and you fill out their online application, you could get an instant “yes” on your loan request. The whole process is pretty fast, but how quickly you get the money might vary depending on your situation.

What is the EMI for a 10 Lakh loan?

Here is a table to get an idea about the EMI of a 10 lakh personal loan at an interest rate of 12%.

Eligibility Criteria 10 Lakh loan in Federal bank

Here are the eligibility criteria to get a Federal Bank 10 Lakh personal loan:

FedPremia Personal Loans

• Working individuals with a minimum monthly income of Rs. 25,000.
• Optimum, age, financial stability, income level, and credit score.

Pre-Approved Personal Loans (BYOM)

• Customers who are pre-selected based on their banking relationship, credit history, and account activities.
• Pre-approval is based on the bank’s internal criteria, which likely include credit score and account performance.

Digital Personal Loans

• Individuals aged 21 to 55 years, with eligibility based on credit score, income, and existing liabilities.
• Proof of income through salary statements, age, and creditworthiness.
• Direct eligibility is only possible with a personal income. Joint applications or leveraging a spouse’s income could be potential pathways.

Documents Required for 10 Lakh Loan from Federal Bank

For individuals applying for a Federal Bank 10 Lakh personal loan, documents may include the following:

• KYC (ID and address proof)
• Income proof (salary slips, bank statements, account statements)

How to Apply for a 10 Lakh Personal Loan From Urban Money?

Get your 10 Lakh Federal Bank personal loan quickly with Urban Money’s easy application process:

• Click the link we provided to visit our website’s personal loan section.
• Look for the “Federal Bank Personal Loan” option and click “Apply Now.”
• Enter your basic details like name, phone number, and city. Then, confirm your phone number with a one-time code (OTP).
• Once you submit the form, you’re all set! An Urban Money representative will contact you to collect any required documents.