Federal Housing Loan By Federal Bank

Your dream home is never far away! Get hassle free home loans from Federal Bank to turn your dream home into reality

We assist you to realize your dream home. Avail your Housing Loan from us at competitive interest rates.

The Federal Housing Loan scheme assists borrowers for construction of house, acquisition of land & construction of house, repairs / renovation / remodeling / extension of house, reimbursement of debt incurred for construction / purchase / furnishing / beautification / purchase of flat / villa / house plots / takeover of housing loans / supplementary housing loan to employees of well-run companies / purchase of house plot for subsequent construction of house etc.

Key features

  • Speedy loan approval
  • Get loan up to 85% of project cost
  • Minimal paperwork
  • Loan amount up to Rs.1500 Lakhs
  • Longer repayment period

Loan amount up to Rs. 1500 Lakhs with a margin of 15 – 20%

Longer repayment period – up to 30 Years

Repayment can be done as easy EMIs

Security for the loan will be Mortgage of land and building.

Repayment of the loan is made as Equated Monthly Installments (EMI).
 
You can use any one of the ways to repay the loan:
  •   Cheques
  •   Standing instructions at your branch
  •   FedNet - Internet Banking
  •   Automated Payment through ECS
  •   Mobile Banking

Indicative List of Documents Required for Loan processing

KYC documents

  • Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card) 
  • Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate) 
  • Copy of PAN Card
  • Passport size photos of the applicant and / co-obligant - Two copies each.

Proof of Income

Salaried Customer

Self Employed Professionals

Self Employed non- Professionals / Business

Latest Salary certificate/ Last 3 months Salary-slips

Education Qualification Certificate and proof of business existence

Proof of business existence & Business profile

Form 16/Income tax returns  (2 years)

Last 2 years Income tax returns supported by Audited Balance Sheet and P&L

Last 2 years IT returns supported by tax paid challans

Last 6 months bank statements

Last 12 months bank statements (Self & Business)

Last 12 months bank statements (Self & Business)

Loan application form duly filled and signed, Cheque for Processing Fee

 

Other documents

  • Documents of Title  - ie, Tittle Deed & Prior Deeds
  • Encumbrance Certificate (13  Yrs)  From Sub. Registrar Office
  • Land Tax Receipt ( Latest)
  • Possession Certificate
  • Approved Building Plan
  • Property Sketch

For Purchase of Ready Built House / Flat

  • Agreement of Sale
  • Building Tax Receipt (latest)

In the case of flat/villas, following documents are also needed:

  • Sale & Construction Agreements (original)
  • Letter of Allotment from the Builder
  • Tripartite Agreement – Where the flats are under construction & the possession is not immediate

For House Construction / Extension / Repairs & Renovation

  • Estimate report from Civil Engineer / Architect
  • Permission for Construction from local authorities

Any other documents as required by the bank.

 

About

Federal Bank Limited is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India.

The history of Federal Bank dates back to the pre-independence era. Though initially it was known as the Travancore Federal Bank, it gradually transformed into a full-fledged bank under the able leadership of its Founder, Mr. K P Hormis. The name Federal Bank Limited was officially announced in the year 1947 with its headquarters nestled on the banks of the river Periyar. Since then there has been no looking back and the bank has become one of the strongest and most stable banks in the country.

 

About

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