Federal Bank Car loan in Ahmedabad

About Federal Bank Car loan in Ahmedabad

Formerly known by the name Travancore bank, Federal bank is one of the prime private sector commercial banks in the country which was established in the year 1931. The bank was formed during the country’s independence struggle. The bank has about 1250 branches and 1516 ATMs in different states of the country. The bank is working on the ultimate goal of becoming the most praised and applauded bank in the entire country. It has delivered a variety of products to the customers that have given wings to their dreams. It has devoted proper attention and time towards taking care of the needs of the people in the country.  It was the first bank which provided the facility of RTGS in all the branches. It received awards under two categories at the MasterCard Innovation Awards 2016. The awards were won under the categories of ‘Debit Cards Initiatives’ and ‘Acquiring Business Initiatives’.

Ahmedabad is the former capital of the state of Gujarat and is one of the important cities of India. It has emerged as a crucial economic and industrial hub in the country. It has seen the development of housing sector on a large scale due to the city’s growing population. The Ahmedabad Stock Exchange is the second oldest stock exchange in the country. Federal bank has opened up more than five branches in the city that are working to meet the financial needs of the customers.

The simple feeling of driving your own car gives you so much happiness. That joy can’t be described in words. After all, a car is an investment of a lifetime. Federal bank offers a car loan to suitable applicants who are able to meet the eligibility norms. The bank believes in the fact that finance should never act as a red signal for the dreams of a customer. The bank wishes to open up the door where a customer can become the proud owner of a car. Therefore, it offers feasible interest rates to the customer.

Federal Bank Car loan in Ahmedabad at a glance

ParticularDetails
Interest rate9.15% - 9.45%
Loan amountWill depend on the bank’s norm
TenureNew cars: 7 years (for salaried)

Pre-owned cars: 5 years
Processing feeAs per the bank’s norm
Pre-payment chargeAs per the bank’s norm

Eligibility criteria

  • Residents individuals and big corporates are eligible to apply for a Federal Bank car loan in Ahmedabad.

  • The applicant needs to take home at least ₹ 7,500 after meeting all the EMI commitments. You should note that this also includes the proposed EMI for the car loan he/she will take

Documents required

  • Two photographs of passport size of both the applicant and the co obligant
  • Proof Of Identity- PAN Card/Passport/Aadhar card/Driving License/Voter ID Card
  • Proof of Age- Passport/ SSLC or AISSE Certificate/Birth Certificate/Driving License
  • Proof of Residence- Aadhar Card/Passport/Voter ID Card/Lease agreement//Telephone bill/Ration card/Electricity bill
  • Proof of Income-

For Salaried individuals:  

  • Income Tax returns of the previous two financial years or Form 16
  • Salary slip of the last three months /Latest salary certificate,
  • Bank statement of the last six months.

For Self-employed:

  • Proof of existence of the business and its profile
  • Bank account statements of the last 12 months
  • Audited Balance Sheet/ Profit & Loss account
  • Income Tax returns of the past two financial years
  • IT returns of the previous two years which has to be supported by tax calculation sheet

Other documents-

  • Invoice
  • In case of a used car, Valuation & sale letter from an authorized used car dealer is needed
  • Own house proof or latest land tax receipt

    Some property documents that are needed if loan amount is above 10 Lakhs-

  • possession certificate
  • document of title
  • location sketch
  • EC for 13 years

For additional information check out Car Loan Ahmedabad.

Address of Federal Bank branches in Ahmedabad

Branch NameAddressIFSCMICRCustomer Care
Ashram Road BranchP B No. 4073, Ashram Road, Navarangpura P.O., Ahmedabad, 380009 , GujaratFDRL0001158380049002079-26585720
Shaper VeravalNear Shapar Bus Stop, Nh - 8B, Shaper Veravel, Gujarat - 360025FDRL0001801Non-MICR9673193239
Ahmedabad SatelliteSigma Icons, 132 Feet Ring Road, Shyamal Cross Road, Ahmedabad Gujarat - 380025FDRL00018003800490059400230917
Ahmedabad Iit ChandkhedaNear Dev Hub, Motera, Chandkheda, Gujarat - 382424FDRL00017993800490049892584090
Ahmedabad / ManinagarGround Floor, Elegance Arcade near Bank Of India, Station Road , Maninagar, Ahmedabad , Gujarat 380008FDRL00018793800490061800-425-1199
Ahmedabad Rch401 Rbs Opp Hk College, Ashram Road , Ahmedabad, GujaratFDRL0000315Non-MICR26582585
Bhuj Merchantile BankVyapar Bhavan , Mithakhali Six Road, Ahmedabad, GujaratFDRL01BMCOBNon-MICR2226300

 

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