Federal Bank Car Loan in Bhubaneswar

About Federal Bank Car loan in Bhubaneswar

Federal Bank is a bank that has a history which dates back to a time when India was actually struggling for its independence from the British regime. The bank was founded in 1931 and has it main head office in the city of Kochi which lies in the state of Kerala. The bank moved the main head office to Aluva, Kochi in 1945. The bank has a strong presence in the country with more than thousand active branches. The bank has always stressed on the fact that it must meet the expectations of the customer and outshine them. It has achieved several feats in it 86 year old journey by delivering the highest standard of service. Federal bank has been able to get several breakthroughs in the industry because it dared to be innovative and different. It was the first traditional bank in our country which introduced the concept of internet banking to its customers. It was one of the early banks to get all its branches completely automated. The vision of the bank is to become one of the most admired banks in India and that is reflecting very well on its work as well. The bank has taken every aspect of Corporate social responsibility very seriously and has been part of many such activities.

Bhubaneswar is the capital city of Odisha and is one of the planned cities of India. It is a major hub of religious and economical importance in the eastern belt of India. It slowly turning out to be a centre of education, information technology and tourism in India. Investments are taking place on a large scale in the city in the fields of education, information technology and telecommunications.

A car is not only a medium of transportation but also a medium of making memories. Having a car lies on the top of the list of many people in India. We all want to drive in our own car and go to long drives. Federal bank has specially designed a car loan product for the customers of Bhubaneswar so that finance never comes in the way of their dreams. The bank has four branches in the city that working each week to ensure the services reaches to the customer on time.

Federal Bank Car loan in Bhubaneswar 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 Bhubaneswar

  • 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 more information check out Car Loan Bhubaneswar.

Address of Federal Bank branches in Bhubaneswar

BranchAddressIFSCMICRCustomer Care
Bhubaneswar14 B, 1St Floor, Janapath, Bapuji Nagar, Bhubaneswar, 751009 , OrissaFDRL00012327510490020674-2532057
Kalpana SquareBhjem School M15 Bjb Nagar Bhubaneswar 751014, OrissaFDRL00015137510490030674-2134445
NadigaonNadigaon, Kudei Post, Soro , Balasore, Orissa, 756045FDRL0002267Non-MICR3043338
Nidhipanda ChakaNidhipanda Chaka, At/Po Nidhipanda Chaka Balasore, Bhubaneswar Orissa 756027FDRL0002239Non-MICR222100

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