Know everything about Federal Bank Car loan Patna-Wishfin

Federal bank Car Loan in Patna

About Federal Bank Car loan in Patna

Federal bank since its incorporation in 1931, has been weaving success stories. It is a leading private sector commercial bank in India and has performed well on all the parameters. It was previously named as Travancore bank. One can trace the history of the bank to pre-independence era. The current name Federal bank limited was given in the year 1947. The bank main head office is situated in the city of Kochi. The entire country has been covered by the bank through more than 1000 branches and ATMs. The bank has been a customer centric institution since inception and has set up a standard for itself. It has provided customers with an experience like never before. Federal bank has expanded its wings to UAE as well. It has an office in Abu Dhabi, which is taking proper care of the diverse needs of the NRI customers. When it comes to raising the bar for others, no one has been able to beat the bank. Federal Experience Center, the first international standard 24X7 banking facility in Kochi, was opened up by the bank. The bank has dominated many award functions and has scooped up many awards. Federal won was successful in winning the IDRBT Banking Technology Excellence Award 2013-14 in four categories. This truly speaks for the bank. It has exceeded the expectations by bringing on the table, products that are world class and effective. It introduced a first of its kind digital loan-Fed-E-Credit, which could be availed by a customer against his/her fixed deposit.

Patna, the capital of Bihar is a major agricultural and trade hub. The city is one of the fastest growing non-metro cities in India and has recently seen the development of several small scale industries. Federal bank has established two branches in the city that are operating very well. People living in Patna can now think of driving their own car on the roads of the city as Federal bank car loan is going to nurture their dreams. They can now drive home their dream with the help of a car loan. Low-interest rates, quicker processing and longer repayment period are some of the features which make the product offered by the bank different from others.

Federal Bank Car loan in Patna at a glance

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

Interest rate7.65% Onwards
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 norms for a car loan have been listed below. Check them out-

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

  • 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

Please refer to Car Loan Patna for additional information.

Address of Federal Bank branches in Patna

BranchesAddressIFSCMICRContact details
PatnaP B No. 164, New Dak Bunglow Road, , Patna, 800001 , BiharFDRL00012208000490020612-2236045
Raja BazarLegend Plaza , Ashiyana, Digha Main Road, Patna, Bihar 800014FDRL00019238000490031800-425-1199

Personal Loan Interest Rates February 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates February 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%