Federal Bank Home Loan in Jammu

Last Updated : March 28, 2017, 6:05 p.m.

About Federal Bank Home Loan in Jammu

Federal bank is one of the prominent private sector banks that was incorporated in the year 1931. The bank provides a home loan to the people in Jammu so that their housing dreams are not put on the back burner. In today’s time, the property rates are at an all-time high and this has bothered the common person of Jammu. Federal bank has eliminated the worries of the people of Jammu by offering a home loan. It has therefore opened a branch in the city, where a loan seeker can apply for a home loan.

Federal Bank Home loan in Jammu at a glance

Important details about Federal Bank Home loan Jammu have been given in the form of a table.

Eligibility criteria

Eligibility norms have to be fulfilled by every applicant who wishes to avail a Federal bank home loan Jammu. 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 Jammu

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, please check out Home Loan Jammu .

Address of Federal Bank branches in Jammu

The list of Federal Bank Jammu branches has been given below with their complete addresses, IFSC and MICR details.