Federal Bank Car Loan in Hyderabad

Last Updated : March 22, 2017, 6:55 p.m.

About Federal Bank Car loan in Hyderabad

There is a bank which has managed to instill a sense of belongingness and trust in the hearts of the customers. That bank is Federal bank. The bank was formed in 1931 when India was battling with the British to gain liberty. The bank was earlier called as Travancore bank and it was officially renamed as federal bank in 1947. The bank is conducting operations from its main headquarters in Aluva in Cochin. The bank has made sure that it reaches every part of the country and thus has set up more than thousand branches and ATMs. It was first of the few traditional banks which began mobile banking services and introduced mobile alerts in the country. It was also one of the first banks which implemented the facility of Express remittance from abroad. It can also be credited for being one of the older banks to have an e-shopping payment gateway. In its journey of more than eight decades, the bank has solidified its presence in the Indian banking industry. The bank has always been the first one to bring in a change in the banking sector. Federal bank conducted the first ever electronic telephone bill payment in the nation. All these factors have led to the bank becoming a favorite amongst the customers. All its products and services have been well received from the customers and industry people. The bank has been progressing year after year because it dared to innovate and believed in being different from the other banks.

Hyderabad is a leading city of India, which is the capital of the newly formed state of Telangana. Headquarters of Andhra Bank and State Bank of Hyderabad have been established in the city. It is one of India’s major economic hub which has seen a continuous growth in auto parts industry, automobile , textiles, poultry farming,  bulk drugs, apparel industry and pharmaceuticals. In addition to these, the city is also emerging as a crucial information technology centre in India. Federal bank has opened up eight branches in the city so that the financial needs of the people are met on time without failure.

A car loan has the potential to fulfill all your vehicle dreams. You can now pay the amount of the car off through easy EMIs rather than paying all the price at one go. Federal bank offers a car to the applicants living in Hyderabad at a feasible rate of interest and good repayment tenure. All important information has been given under. Don’t forget to check it out.

Federal Bank Car loan in Hyderabad at a glance

Eligibility criteria

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

• 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 Hyderabad .

Address of Federal Bank branches in Hyderabad