Federal Bank Personal Loan

Federal Bank

Check Eligibility

Max. Loan Amt.

Up to ₹25.00 Lakh

Rate of Interest

11.49% - 17.99%

Tenure up to

1 - 5 Years

Processing Fee

₹3%

Lowest Income requirement100% Digital Process*

Check Eligibility

Federal Bank Personal Loan Interest Rates

Federal Bank Personal Loan Fees and Charges

Also read: Best Personal Loan in India

Federal Bank Personal Loan EMI Calculator

Types of Federal Bank Personal Loan

Federal Bank Pre-approved BYOM Personal Loan

• Purpose: Federal Bank extends a pre-approved BYOM Personal Loan to its current customers, facilitating a seamless and paperless application process through the digital platform BYOM (Be Your Own Master). This platform is exclusively designed for existing Federal Bank customers, offering them the convenience of obtaining personal loans digitally.
• Loan Amount: Up to Rs 7.5 lakh
• Tenure: Up to 4 years
• Processing Fees: Up to 2% of loan amount

Federal Bank Digital Personal Loan

• Purpose: Federal Bank offers Digital Personal Loans to salaried individuals with only e-sign of loan documents through Aadhaar OTP.
• Loan Amount: Rs 50,000 to Rs 5 lakh
• Tenure: Up to 5 years

FedPremia Personal Loan

• Purpose:  Federal Bank provides a personal loan scheme designed for employed individuals earning a minimum monthly salary of Rs 25,000. This loan is meant to help meet various personal needs.
• Loan Amount: Up to Rs 25 lakh
• Tenure: Up to 5 years
• Processing Fee: Up to 3% of loan amount

Also read: Best Personal Loan Status

Eligibility Criteria for Federal Bank Personal Loan

For Fed Premia Personal Loan

To be eligible for Federal Bank's Digital Personal Loans, applicants should meet the following criteria:

• Maximum age of 60 years at the time of loan maturity.
• Minimum monthly salary of Rs 25,000.
• Minimum total work experience of 3 years in the current job.

For Federal Bank Digital Personal Loan

• Age- 21 years to 55 years
• Job profile- Salaried

Federal Bank may also take into account the credit scores of its personal loan applicants, similar to the approach adopted by other lenders when assessing their eligibility for personal loans.

Also read: Best Personal Loan Eligibility

Documents Required for Federal Bank Personal Loan

The following documents are common for all individuals applying for a personal loan from Federal Bank:

For FedPremia Personal Loan

Income Documents

1. Duly filled application form with signatures.
2. Salary account statements for the last 6 months.
3. Salary slips or salary certificate for the past 3 months.
4. Form 16 or Income Tax Returns (ITR) for the last 2 years.

KYC Documents

1. ID Proof (Passport/Voter ID/PAN Card/Driving License)
2. Copy of PAN Card
3. Address Proof (Passport/Ration Card/Lease Agreement/Electricity Bill)
4. Two passport-size photographs of the applicant

For Federal Bank Digital Personal Loan

1. Aadhaar Card and PAN Card.
2. Mobile number linked to Aadhaar to receive OTP.
3. Salary account statements for the last 3 months in PDF format or accessible through net banking.

Also Read: Best Personal Loan Documents Required