Home Loan Interest Rates 20201117 views
- Have a look at home loan interest rates at Federal Bank.
- Know the maximum loan amount and rates on home loans.
A home loan from Federal Bank can be taken for the maximum tenure of 30 years. As a matter of fact, the borrower wishes to get the lowest possible rate so that he/she can pay the EMI without any interruption. At Federal Bank, you get to choose the tenure as per your choice so that you can manage the EMI for the whole tenure period. In the case of interest rates, if you match the criteria and have all the factors matching as per the bank in addition to proper documentation, you can expect a satisfactory rate. Below is the graphical representation of the rate, tenure and a random home loan amount to give you an idea.
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Table of Contents
Federal Bank Home Loan Interest Rates July 2020
|Interest Rate||8.35% - 8.50%|
|Loan Amount||Upto 85% of the project cost. Maximum - INR 15 Cr|
|Loan Tenure||Upto 30 Years|
|Processing Fee||0.50% of the loan amount + GST|
Minimum - INR 3,000 + GST
Maximum - INR 7,500+ GST
|Security||Mortgage of land & building|
How can you get the lowest interest rate?
In a home loan, the most important thing is to have proper documentation which often people miss and this becomes a drawback to get a lower rate. If you want to get the desired rate of interest on a home loan, you must make sure that you have all the property documents maintained. Other than this, you must buy the property in an authorized location and have a good credit history on the basis of which Federal Bank will consider your application for a good rate.