Federal Bank Car Loan in Kochi

Last Updated : March 22, 2017, 7:38 p.m.

About Federal Bank Car loan in Kochi

Federal bank is one of the nation’s noted private sector commercial banks. It was constituted on the date April 28, 1931 at Nedumpuram in Kerala. It was initially known by the name Travancore bank. It started its journey in the Indian banking sector with a capital of Rs. 5,000 that time. Kochi and Federal bank share a very special bond with one another. The main head office of the bank was shifted to Kochi on May 18, 1945. The office is located on the banks of Periyar river, which is a thing of beauty in itself. The bank officially got the name ‘Federal Bank Limited’ in 1947. The most memorable moment for the bank was in 1970 when it became a commercial bank. This also meant the bank completed 25 years of its journey since it moved its headquarters to Aluva. The bank has pursued the mission of surpassing the expectations of the customer and offering an experience like never before. Federal bank has created a firm presence in different parts of the country with various operating branches as well ATMs. Federal bank has given the banking industry various innovations, which were later followed by other banks. The innovations were met with critical acclaim and rewards. The bank won the award for being the ‘Best Corporate Brand 2016’. The award was given by a leading name like Economic Times and this has been like a cherry on the cake for the bank. The bank has always been a supporter of innovation. It launched FedBook which is an innovative mobile-based application. The app eliminates the need to go the home branch to update the passbook. The bank won the 2013 IBA Innovation award for the same.

Kochi is the commercial capital of the Indian state of Kerala. It houses the Cochin Stock Exchange which happens to be the sole stock exchange in the state. Kochi is the place where Federal bank started its phenomenal journey. Federal bank has an unique bond with the city. There are more than 30 branches of the bank that are operating in the city and taking care of the requirements of the people.

A car loan is one of the main products that is offered by Federal bank to the customers of Kochi. The bank offers the same at attractive interest rates and lower monthly installments. It also provides sufficient repayment tenure to the customer so that he/she can easily repay the loan with interest without any hassles.

Federal Bank Car loan in Kochi at a glance

Eligibility criteria

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

• 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

To gain more information, don’t forget to check out Car Loan Kochi.

Address of Federal Bank branches in Kochi