Federal Bank Personal Loan of 9 Lakh

The Federal Bank offers a convenient personal loan option of 9 lakh. Eligible applicants expect to receive the funds within 2 to 7 business days. This loan requires no collateral, so you do not have to risk any of your assets. Whether you need to renovate your home, consolidate debts, or cover other financial expenses, Federal Bank is committed to providing the necessary funds on time. This loan offers lower interest rates, simple eligibility criteria, and a paperless application process. Below, we have provided all the details you need about a 9 lakh personal loan with instant credit from the Federal Bank.

Personal Loan Options for 9 Lakh in Federal Bank

Let’s explore the common choices or factors that lead individuals to choose a personal loan of 9 lakh from a Federal Bank:

• Unforeseen Medical Situations: This provides a solution to handle unexpected medical emergencies or other sudden occurrences.
  
• Combining Debts: This allows you to merge multiple debts into a single payment, often at a reduced interest rate.
  
• Renovating Your Home: This option enables you to renovate, fix, or expand your residence.
  
• Funding Your Dream Vacation: You can visit your desired destination without worrying about expenses.
  
• Covering Wedding Costs: This can help you manage the expenses of your or a loved one’s wedding ceremony.

Features of Federal Bank 9 Lakh Personal Loan

Let’s examine the expected features of an instant 9 lakh loan from Federal Bank:

• Fast Approval and Timely Availability: When your Federal Bank 9 lakh personal loan gets approved, you can expect a quick disbursal of funds. Within a few working days, you will have the money you need, ensuring a timely and efficient process.
• Loan Tenure: Depending on what suits you best, the loan tenure can be between 12 and 60 months.
• Interest Rates: The interest rates for this loan are fixed and will remain between 11.49% and 14.49% for the entire loan duration.
• Processing Fee: A processing fee of 2% of the loan amount plus GST is charged to make it an affordable credit choice.
• Documentation: The application process is completely digital, eliminating the need for any manual paperwork.

Can I get a 9 Lakh Personal Loan Instantly from Federal Bank?

Urban Money, a popular and reputed fintech platform in India, offers the chance to secure a personal loan of 9 Lakh with instant fund disbursement. With a vast range of loan and credit choices from over 50 lenders, including Federal Bank, Urban Money allows you to effortlessly compare various credit solutions, assess your eligibility, estimate your monthly EMI, and opt for the best-suited option. Once this is done, a personal loan expert from our team will contact you and assist you throughout the application process until the loan amount is credited to your account. Typically, the funds are transferred within 24 business hours.

What is the EMI for a 9 Lakh Personal Loan?

The EMI for a ₹9 lakh personal loan from Federal Bank, with an interest rate of 11.49% per annum for a 12-month term, would be approximately ₹79,749.

Eligibility Criteria 9 Lakh Personal Loan in Federal Bank

9 Lakh personal loan eligibility in Federal Bank are as follows: 

• The eligible individual should be within the age range of 21 to 55 years.
  
• The eligible individual should possess a steady source of income that can cover the loan EMI.
  
• The eligible individual should have a favourable credit score and a history of timely repayments.
  
• The eligible individual should hold Indian citizenship.

Documents Required for a 9 Lakh Personal Loan

A list of documents required for loan processing is provided below:

• Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card) 
• Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport)
• Copy of PAN Card
• Latest Passport size photo of the applicant (2 copies)
• Latest salary certificate/Last 3 months’ salary slips
• Form 16/Income Tax Returns( last 2 years)
• Last 6 months’ salary account statement

How to Apply for a 9 Lakh Personal Loan From Urban Money

To apply for a 9 Lakh personal loan from Federal Bank online, follow these steps:

1.  Visit the official website of Urban Money.
2.  Select the “Loan” tab and choose “Personal Loan.”
3.  You will be taken to a page dedicated to personal loans.
4.  Scroll down to view a list of top banks in India.
5.  Find “Federal  Bank” and click the “Apply Now” option.
6.  A simple online form will appear on your screen.
7.  Fill in your name, mobile number, and city.
8. You will receive a 6-digit OTP on your mobile.
9.  Enter the OTP and click on the “Submit” button.
10. Within a day, a loan specialist from Urban Money will contact you.