Federal Bank Car Loan in Gurugram

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

About Federal Bank Car loan in Gurugram

Federal Bank has been successful in creating a special place for itself in the Indian banking sector. The bank was formed in the year 1931 in the state which is proudly known as god’s own country, Kerala. The main head office of Federal bank is located in Kochi. The bank has a very old history which can be traced back to the era when India was fighting to get freedom. The bank was previously called by the name of Travancore bank. It has about 1516 ATMs and 1252 branches spread in different parts of the country. The bank is working hard to become the most sought after and admired bank and is, therefore, delivering the highest standard of service to its customers. It was one of the first traditional banks which offered the facility of internet banking to its customers. It brought a new innovation in the industry when it launched FedBook- an one of its kind electronic passbook which is based on mobile application. This earned the bank loads of applause and rewards. The bank has truly left a reverberating impact on the banking industry as a whole. It has been facilitated with various accolades for its exceptional performance.

Gurgaon, which is also known by the name Gurugram, is a major city of Haryana, part of the National Capital Region belt. It is an important centre of finance and industry in the country. It has the third highest per capita income in the entire country. Most of the leading multinational companies have set up their offices in the city. Federal bank is taking all steps so that it can meet the needs of the people of the city. It has opened about ten branches in the city for the same.

A car loan is one of the most demanded products in the market. Most of the people want to buy a car of their own, which they can use as per their convenience. A car loan gives the freedom to the person to buy his/her own car and then pay the loan amount along with interest in the form of monthly installments. Federal bank too offers a car loan to its customers who wish to purchase a vehicle. It offers them the same at feasible interest rates.

Federal Bank Car loan in Gurugram at a glance

Eligibility criteria

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

• 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 Gurugram

Address of Federal Bank branches in Gurugram