Federal bank loan for home

Hello, sir I want to apply for get home loan from Federal bank, so I need your guidance, would you tell me that how much maximum home loan can I get from Federal bank?

From Federal Bank you can get maximum 350 lacs as Home Loan.
Maximum Period: 84 Months

Eligibility
As per rule of Federal Bank those are eligible for home loans who are “Residents & Non-residents who own unencumbered residential land with house or residential flat and having regular income and repayment capacity. Resident borrowers shall come under the tax bracket and should have filed IT returns. For NRIs, IT returns not applicable, but minimum salary/ income shall be Rs 20000/- per month. And in all cases, the borrower's net worth should be double the loan amount or more.”

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Answered By StudyChaCha Member

I want to get loan rates for Home Loan of Federal Bank, so will you provide me the loan rates for Home Loan?

As you want to get loan rates for Home Loan of Federal Bank, so here I am providing the following Loan Rates:

Federal Bank Home Loan Rates
Base Rate 10.55% (p.a) w.e.f Nov 11, 2013

Benchmark Prime Lending Rate (For loans existing as on 30.06.2010 till next renewal) 17.75% (p.a) w.e.f Nov 07, 2011

Housing Loan up to Rs.30 lakhs Base Rate + 0.28%

Housing Loan above Rs.30 lakhs to less than 75 lakhs
Base Rate + 0.53%

Housing Loan of Rs.75 lakhs and above Base Rate + 0.78%

Key features of Home Loan
Minimal paperwork
Longer repayment period
Insurance cover
Speedy loan approval
Loan amount up to Rs.1500 Lakhs
Get loan up to 85% of project cost

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.

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Answered By StudyChaCha Member