Federal Bank offers you personal loan for all your personal needs, you name it and bank has it. Whether you are individual residents or NRI, can apply for the loan. Bank has set the tenure for the repayment of the loan amount up to 60 months.
Highlights
Salaried
Self Employed
Loan Scheme
Personal Loan
Personal Loan
Loan Type
Term Loan
Term Loan
Loan Amount
The maximum loan amount is 6 times monthly salary or 50 % of annual income of previous year.
The maximum loan amount is 6 times monthly salary or 50 % of annual income of previous year.
Tenure
Min. - 12 months.
Max. - 60 months.
Min. - 12 months.
Max. - 60 months.
Interest Rate
Min. - 17.55 %
Max. - 20.05 %
Min. - 17.55 %
Max. - 20.05 %
Time to Process Loan
5 days
5 days
Fees & charges
Fees & charges
Salaried
Self Employed
Processing Fee
1 %
1 %
Security
Security
Minimum 100% collateral security is required.
For residents, spouse should join as co-obligant. Collateral security is required to cover the loan amount.
For non-residents, spouse should join as co-obligant and Collateral security in the name of NRI borrowers is required to cover the loan amount.
Loans to NRIs are to be covered by collateral securities in the name of borrowers it self.