Federal Bank Car Loan in Chennai

About Federal Bank Car loan in Chennai

Federal bank, which is one of the oldest private sector banks in the nation, offers a car loan to the customers in Chennai. The car loan product is very popular amongst loan borrowers. the product can be used to buy both new and old cars. Federal Bank offers the product to both salaried employees and self-employed individuals. Chennai is a major hub of education, medical, trade and tourism in southern India. The city is also witnessing growth in information technology. Federal bank has opened more than ten branches in the city that are working at their best to deliver the product of car loan to customers. An applicant has to ensure that he/she meets the eligibility criteria set by the bank, if he/she desires to avail a car loan.

Federal Bank Car loan in Chennai at a glance

Have a look at the important details of Federal Bank Car loan Chennai here.

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

The eligibility criteria for a Federal bank car loan have been given below. Check whether you are eligible or not by referring to it.

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

  • 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

The documents required at the time of loan application have been listed below.

  • 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

In case you need extra information, feel free to refer to Car Loan Chennai.

Address of Federal Bank branches in Chennai

The complete address of every branch of Federal bank Chennai has been given below along with the IFSC and MICR codes.

Branch NameAddressIFSCMICRCustomer Care
Anna NagarC 48, Tnhb Complex, Iind Avenue, Anna Nagar, Chennai, 600040 , Tamil NaduFDRL0001324600049006044-26216008
Mount RoadS V S Club Building, 61, Anna Salai, Mount Road, Chennai, 600002 , Tamil NaduFDRL0001100600049003044-28512561
George TownVoltas International Centre, 52 (New No 107), Armenian Street, George Town, Chennai, 600001 , Tamil NaduFDRL0001181600049002044-25342327
Rajaram Mehta Nagar1St Floor, # 25, Nelson Manickam Road, Rajaram Mehta Nagar, Chennai, 600029 , Tamil NaduFDRL0001233600049004044-23740563
RoyapettahP B No. 5569, No.1, Beemasena Garden, Royapettah High Road, , Mylapore, Chennai, 600004 , Tamil NaduFDRL0001282600049005044-24993441
T NagarSecond Floor, Gold Crest, 54 - 55, North Usman Road, T Nagar, Chennai, 600017 , Tamil NaduFDRL0001386600049007044-28158717
AdyarDoor No.46 (Opp. To Impcops), Lattice Bridge Road, , Chennai, 600041 , Tamil NaduFDRL0001441600049008044-24404058
VadapalaniSri Valli Towers, 86.Jawaharlal Nehru Road, (100 Feet Road), Chennai / Vadapalani, 600026 , Tamil NaduFDRL0001444600049009044-24812969
Cms61, Anna Salai, Chennai 600002 , TamilnaduFDRL0001444600049009044-28510645
PurasawalkamDoor No.47, Gangadeeswarar Koil Street, Purasawalkam, Chennai, 600084 , Tamil NaduFDRL0001457600049011044-26651129
PeramburNo.39, Srp Koil Street , North Street, Tvk Nagar , Perambur West , Chennai 600082 Tamil NaduFDRL00019336000490271800-425-1199
Chennai Mount Road ExtensionAsan Memorial Senior Secondary School No 1 Anderson Road Chennai 60006 Tamil NaduFDRL00015216000490280442 28272213
Tambaram58 Ground Floor Kakkan St West Tambaram Chennai 6000045 Tamil NaduFDRL0001536600049012044-22261114 22261115
Porur4/70 Arcot Road Porur Chennai 600116 Tamil NaduFDRL0001564600049015044-24763791
Chennai Zonal OfficeBhattad Tower First Floor 30 West Cott Road Royapettah Chennai 600014, Tamil NaduFDRL0000171Non-MICR91-44-28587516
Funds & Investment62 (Upstairs), Mount Road, Chennai, 600002 , Tamil NaduFDRL0000502600049001044-28583306

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