Federal Bank Car Loan in Noida

Last Updated : March 23, 2017, 10:18 a.m.

About Federal Bank Car loan in Noida

It has been more than eight decades that Federal bank is serving the banking customers in the country. The bank entered the banking sector of India in the year 1931. It was then known as Travancore bank and its name was officially changed to Federal bank limited in 1947, the year when the nation gained independence from British rule. Therefore, it can be said that the bank has a golden history which can be traced back to the Indian freedom struggle. As a matter of fact, the bank had started its journey in the banking sector with a capital of Rs. 5000. The main head office of Federal bank is situated in Aluva, Kochi, which is an iconic treat to the eyes as it located on the banks of Periyar river. The office was shifted to Aluva in 1945. The second branch of the bank was opened in Angamaly on January 26, 1946. After a span of one year, another branch was opened in Perumbavoor on April 18, 1947. The year 1959 was quite a monumental year for the bank because various new deposit schemes were launched at that time. This was a major factor which played a significant role in the growth of the bank. The bank gained the status quo of a private commercial bank in 1970. This also marked the silver jubilee year of the bank since it shifted base to Aluva. The bank has turned out to be one of the most stable financial institutions in India. Federal bank has constantly innovated itself with modern technology. It gave the customers something new in the form of FedBook or Fed-E-Credit. It has received admiration from all the corners. The bank won a prestigious and coveted award like best corporate brand 2016. The award was presented by Economic Times.

Noida, a planned city is part of National Capital Region (NCR) of India.  The city which lies in western Uttar Pradesh has seen massive development over the past few years. It has turned out to be a major hub of information technology, other IT enabled services and BPOs. Many leading companies have set up their businesses in the city. It has emerged as one of the fastest growing cities in India and has the highest per capita income in the NCR belt. The financial needs of the city are increasing and to meet the same, Federal bank has opened up two branches which offer loans to the customers.

A car loan is a very popular product which is availed by a customer who wishes to purchase a car. A car, after all, adds to one’s style statement. People in the city of Noida can now fulfill their dreams of owning a car with a help of a car loan. Federal bank offers a car to an applicant who is able to meet the eligibility criteria and submit the needed documents. The loan comes with its own features like low EMIs and good tenure period.

Federal Bank Car loan in Noida at a glance

Check out the essential details of Federal Bank Car loan Noida here.

Eligibility criteria

The eligibility norms for a car loan have been mentioned below. Check them out-

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

• 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 list of documents required for a car loan have been given 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

Don’t forget to check out Car Loan Noida to gain more information.

Address of Federal Bank branches in Noida