Federal Bank Car Loan in Lucknow

About Federal Bank Car loan in Lucknow

Federal bank is one of the oldest private sector commercial bank in India which has been taking care of the financial requirements of the people for a very long time. The journey of the bank commenced on on April 28, 1931. That time India was struggling to gain independence from the. The bank began operating with a mere capital of Rs. 5,000. Federal bank shifted to the main headquarter in Aluva, Kochi in 1945. Another branch was opened up in 1946 in Angamally. The bank became a full-fledged commercial financial institution in 1970. This also meant the bank completed 25 years in its current head office in Aluva. Federal bank has always worked upon becoming the most praised bank in the country. The bank has designed products that can meet the needs of the people, when needed the most. The bank provides a car loan to the people of city of Nawabs at affordable interest rates and flexible term period. To make sure that the car loan product is delivered on time to the customers, the bank has opened up three branches in the city of Lucknow.

Federal Bank Car loan in Lucknow at a glance

Have a look at the important details of Federal Bank Car loan Lucknow 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 Lucknow

  • 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

For additional information, please refer to Car Loan Lucknow.

Address of Federal Bank branches in Lucknow

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

BranchAddressIFSCMICRContact details
Lucknow Vidhan Sabha MargP B No. 178, 29 Vidhan Sabha Marg, Lucknow, 226001, Uttar PradeshFDRL00011492260490020522-2618949
Gomti Nagar2/8, Vivek Khand Gomti Nagar Lucknow – 226010 Uttar PradeshFDRL00016792260490031800-425-1199
Vikas NagarC2/78, Vikas Nagarmama Chourahavikas Nagar, Lucknow , Uttar Pradesh 226022FDRL0001981Non-MICR1800-425-1199

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