Federal Bank Home Loan in Chandigarh

Last Updated : May 5, 2018, 1:17 p.m.

About Federal Bank Home Loan in Chandigarh

Federal bank is one of those private sector banks that is known to serve the customer since a long time. The bank provides a home loan to the applicants who are in need of finance to build a home of their dreams. The loan can be used for any purpose, whether it is buying a new home or constructing, repairing or renovating a home. Federal bank has opened three branches in the capital of Punjab and Haryana, in order to ensure hassle free disbursal of the home loan product. The product is offered to the customer at the best rate possible.

Federal Bank Home loan in Chandigarh at a glance

Take a look at key information about the product offered by Federal Bank in Chandigarh.

Eligibility criteria

Eligibility norms have to be fulfilled by every applicant who wishes to avail a Federal bank home loan Chandigarh. The different norms have been mentioned below. Have a look at them.

• Self-employed individuals, businessmen, and salaried individuals are eligible to apply for a home loan.
• The total employment/business stability should be at least two years.
• The applicant should be working in their current job/profession/business for a period of at least one year
• The applicant must be earning sufficient enough to repay the loan. He/she must earn a minimum net monthly income of ₹15,000 in order to avail a home loan
• The applicant must be over the age of 21 at the time of loan application. The maximum age has been kept at 55 years.

Documents required for a Federal Bank Home loan Chandigarh

The list of all the essential documents needed for a smooth and hassle free disbursal of a home loan is right here. Have a proper look at them-

• Two photographs of passport size of the applicant and the co obliged
• Proof of Age- Birth Certificate/Passport/ SSLC or AISSE Certificate/Driving License
• Completely filled application form
• Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill
• Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card
• Proof of Income-

Salaried individuals

• Salary slip of three months /Latest salary certificate,
• IT returns of the past two years or Form 16
• bank statement of the past six months.

Self-employed –

• Bank account statements of the previous 12 months
• Income Tax returns of the previous two years along with Balance Sheet/ Profit & Loss account
• Proof of the existence of business and its profile
• IT returns of the past two years supported by tax calculation sheet

Property documents-

• Letter of Allotment
• Agreement for Sale & construction
• Certificate of possession
• Tripartite Agreement to be given before disbursal of home loan
• Detailed cost of construction and Land tax receipt

For more details do check Home Loan Chandigarh .

Address of Federal Bank branches in Chandigarh

The list of Federal Bank branches in Chandigarh has been given below with their complete addresses.