Federal Bank Home Loan

Federal Bank offers home loans starting at 8.80% per annum onwards for tenures of up to 30 years, catering to loan amounts of up to Rs 15 crore. For further details on the features of Federal Bank Home Loan, continue reading below.

Federal Bank Home Loan Highlights
Interest Rate	8.80% p.a. onwards
Processing Charges	0.50% (Rs 10,000- Rs 45,000)
Loan Amount	Up to Rs 15 crore
Loan Tenure	Up to 30 years

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Table of Contents
Compare Interest Rates offered by other Lenders
Interest Rates
Types of Home Loan by Federal Bank
Processing Fees & Charges
Eligibility Criteria
Documents Required
EMI Calculator
FAQs

Compare Interest Rates offered by other Lenders

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI Bank	8.40% - 10.15% p.a.	8.40% - 10.05% p.a.	8.40% - 10.05% p.a.	Apply Now
HDFC Bank Limited	8.40% p.a. onwards	8.40% p.a. onwards	8.40% p.a. onwards	Apply Now
Kotak Mahindra Bank	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards	Apply Now
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Federal Bank	8.80% p.a. onwards	8.80% p.a. onwards	8.80% p.a. onwards	Apply Now
L&T Finance Limited	8.60% p.a. onwards	8.60% p.a. onwards	8.60% p.a. onwards	Apply Now
Bajaj Housing Finance	8.50% p.a. onwards	8.50% p.a. onwards	8.50% p.a. onwards	Apply Now
LIC Housing Finance	8.35% - 10.35% p.a.	8.35% - 10.55% p.a.	8.35% - 10.75% p.a.	Apply Now
PNB Housing Finance	8.50% - 14.50% p.a.	8.50% - 14.50% p.a.	8.50% - 11.45% p.a.	Apply Now
Punjab National Bank	8.45% - 10.25% p.a.	8.40% - 10.15% p.a.	8.40% - 10.15% p.a.	Apply Now
Bank of Baroda	8.40% - 10.65% p.a.	8.40% - 10.65% p.a.	8.40% - 10.90% p.a.	Apply Now
IDFC First Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Tata Capital Housing Finance	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards	Apply Now
Axis Bank	8.70% - 13.30% p.a	8.70% - 13.30% p.a	8.70% - 9.10% p.a.	Apply Now
Godrej Housing Finance	8.55% p.a. onwards	8.55% p.a. onwards	8.55% p.a. onwards	Apply Now

Also read: Best Home Loan in India

Federal Bank Home Loan Interest Rates

The interest rates for Federal Bank home loans begin at 8.80% per annum. However, the final interest rates offered to applicants depend on their loan amount and occupation profile. Below are the Federal Bank Home Loan Interest Rates based on the loan amount and applicant’s occupation profile.

Types of Federal Bank Home Loan

Federal Bank Housing Loan

Purpose: Federal Bank Housing Loan is a versatile facility catering to various needs such as home construction, land purchase with subsequent construction, home renovation, alterations, repairs, and home extensions. Additionally, the bank extends home loans for reimbursing debts related to house purchase, new construction, home furnishing, plot acquisition, home loan balance transfers, and supplementary housing loans for employees of reputable companies.
Loan Amount: Up to Rs 15 crore
LTV Ratio: Up to 85% of project cost
Loan Tenure: Up to 30 years (Up to 20 years for NRI applicants)

Federal Bank House Warming Loan

Purpose: Federal Bank offers a House Warming Loan, which is a top-up facility provided to both existing and new home loan borrowers. This loan is designed to cover personal expenses associated with housewarming.
Loan Amount: Up to Rs 2 lakh
Loan Tenure: Up to 5 years

Federal Bank Plot Purchase Loan

Purpose: Federal Bank provides Plot Purchase Loans to applicants intending to purchase a plot for building a residential property.
Loan Amount: Up to Rs 25 lakh
LTV Ratio: Up to 60% of cost of land
Tenure: Up to 5 years

Also Read : Best Home Loan EMI Calculator

Federal Bank Home Loan Fees & Charges

Particulars	Charges
Processing Fee/Admin Fee	0.50% (Rs 10,000- Rs 45,000)
Charge for CIBIL report	NIL
CERSAI registration/ modification charges	NIL
Penalty for delayed repayment	2% per month of the overdue portion Additional penal interest applicable for SMA accounts
Charges for switching loans from fixed to floating rates and vice versa	0.25% of the balance outstanding / Drawing power whichever is higher
Prepayment / Pre-closure charges	Floating rate loans to Individuals – Nil Non Individuals, Fixed-rate, Overdraft – 3% on the balance outstanding or DP whichever is higher Floating Rate period - Term loans to Individuals –Nil Non – Individuals, overdraft loans – 3% on the balance outstanding or DP whichever is higher. Hybrid loans - Fixed Rate period- 3% on the balance outstanding or DP whichever is higher

Also read: Best Home Loan Fees and Charges

Eligibility Criteria for Federal Bank Home Loan

Federal Bank offers home loans to Indian residents, Non-Resident Indians (NRI), and Persons of Indian Origin (PIO). While the bank hasn't revealed specific eligibility criteria for Indian residents, prospective applicants can refer to the eligibility criteria set by other top banks and HFCs to gauge their eligibility. However, Federal Bank has outlined the following eligibility criteria for its NRI and PIO applicants:

For NRIs:

The maximum age of the applicant should be 55 years at the time of loan maturity.
The applicant should have a minimum monthly income of Rs 55,000.

For PIOs:

The PIO must possess a valid PIO card along with a valid foreign passport.
A close relative of the applicant residing in India should act as a co-applicant for the home loan.
The home loan must be covered by primary or collateral security of immovable property in India under the name of the PIO.

Also Read : Best Home Loan Eligibility

Documents Required for Federal Bank Home Loan

KYC Documents

ID Proof/Address Proof: PAN, Aadhaar, Driving License, Passport, Voter ID
Proof of Age: Birth Certificate, Passport, Driving License, SSLC/AISSE Certificate
Passport copy, VISA, ID Card, Work Permit (for NRI applicants)
Passport size photographs of the applicant and co-applicant

For Resident Self-Employed

Proof of business existence and business profile.
Bank account statements for the last 12 months.
Income Tax Returns (ITR) for the past 2 years, along with balance sheet and profit & loss account for the same period.
Tax paid challans.
Income Tax Returns for the past 2 years, including tax calculation sheets and tax paid challans.

For Resident Salaried

ITR Copy/Form 16 for past 2 years
Salary Slip/Salary Certificate for last 3 months
Bank Account Statement with salary credits for last 6 months

For Non-Resident Self-Employed

Proof of business existence.
Evidence of business profile.
Bank statements for the last 12 months.
Balance Sheet and Profit & Loss account statements for the past 2 years.
Tax Paid Challans.
2 years NRE account statements or resident account statements of parents/spouse with Federal Bank/other bank where repayments are made.

For Non-Resident Salaried

Last 1-year NRE account statement with any bank.
Embassy or Consulate certified salary certificate or the last 3 months salary slips, along with bank account statements for the last 6 months showing salary credits.
NRE account statements for the last 2 years or the resident account statements of parents/spouse with Federal Bank/other bank where remittances are made.

Also Read : Best Home Loan Documents Required