I opened an account in the Federal Bank and want to take home loan from this bank searching for details. Will you tell what the Federal Bank Home Loan Interest Rate and documents needed to apply?

Federal Bank Housing Loan

Federal Bank's home loan interest rate starts from 8.55%, which is one of the best home loan rates in India.

Home loans are now linked to the repo rate. Thus, home loan rates will change with respect to change in the repo rate as and when applicable.

Loan Amount Federal Bank Repo Rate Home Loan Rate Home Saver

Upto ₹ 30 Lakh 8.55% 8.80%
₹ 30 Lakh - ₹ 75 Lakh 8.60% 8.80%
₹ 75 Lakh - ₹ 5 Cr 8.65% 8.80%
Above ₹ 5 Cr 8.65% 8.80%

Processing Fee Upto 0.50%

Minimum ₹ 3,000 Maximum ₹ 7,500

Age
Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed

Federal Home Loan Documents

For Salaried employees

Filled up loan application form
2 Passport Size Photo
ITR of last 2 years
Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit
Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

For Self-Employed

Filled up loan application form
2 Passport Size Photo
Identity Proof - Passport/ Driving License/ Voter ID/ PAN
Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile
Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension