Federal Bank Car loan in Bengaluru

Last Updated : March 17, 2017, 12:56 p.m.

About Federal Bank Car loan in Bengaluru

Federal bank is a major name in the Indian banking industry which was incorporated in the year 1931. The bank has been able to create a mark for itself as a commercial private sector bank in the nation. The bank has its main head office in Aluva, Kochi in the state of Kerala. The bank headquarters was shifted to Aluva in the year 1945. The bank is conducting operations in the country since the time India was fighting for its freedom from the British rule. The bank has covered the all the states of India with its 1 252 branches and 1516 ATMs. It is working on measures to reach every corner of the country and thus become the most praised bank the country has ever seen. The bank is known to offer a wide range of financial products and services to its customers that have surpassed the expectations. The bank has been awarded for being different and innovative. It won the Best Corporate Brand Award in 2016. The award was given by Economics Times to the bank for its exceptional performance. The bank did something unique and launched FedBook Selfie for the customers. It received the Skoch Smart Technology Award 2015 for the innovative service.

Bengaluru is the capital of Karnataka and is one of the leading cities in the country.  The city is proudly known as Silicon Valley of India as most of the information technology companies are located here. It is the largest contributor to India’s information technology export. The city is ranked number fourth when it comes to the fast-moving consumer goods market. To sum up, Bengaluru is a leading hub of education, IT and trade in southern India and attracts many people from the country. Federal bank has ensured its presence in the city with more than 15 branches located at important locations.

You feel on the top of this world when people congratulate you for buying your own car. A car adds a spark to your style statement. However, finance acts as a big hurdle and can put a brake on your car dreams. Federal bank wants to eliminate the hurdle of finance and offer the interested car buyer a much-needed loan at the best interest rate possible.

Federal Bank Car loan in Bengaluru at a glance

Eligibility criteria

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

• 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 Bengaluru.

Address of Federal Bank branches in Bengaluru