Federal Bank Home Loan

About Federal Bank Home Loan

Are you on a lookout for a lender that can give you a good deal on a home loan? Do you crave for reliable home loan service? If so, then you can trust upon Federal Bank that provides suitable housing loan schemes for purposes like-

  • Construction of home
  • Purchase of land to construct a house
  • Repair, remodel, renovate, extend a flat or home

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

    Almost done, few more details required.

    Federal Bank Home Loan Interest Rates

    ParticularsDescription
    Interest Rate9.35%-9.60% p.a.
    Loan AmountUpto 85% of the project cost. Maximum- ₹15 Cr
    Loan TenureUpto 30 Years
    Processing Fee0.50% of the loan amount+service tax

    Minimum-Rs. 3,000 + S.T.

    Maximum- Rs. 7,500+ S.T.
    Margin15%-20%
    SecurityMortgage of land & building
    Age21-70 Years

    Federal Bank Home Loan Eligibility Calculator

    It’s always good to be aware of the loan amount that you can expect to receive from the lender. But the question lies as to how and where to get the information. Well, if you are planning to make Federal Bank as your home loan partner, then you can take the bank’s eligibility calculator as a guide to figure out the lending amount. Initially, what you have to do is to calculate per lac EMI based on the tenure and existing interest rate of Federal Bank. Let’s compute per lac EMI below.

    Amount- 1,00,000

    Tenure- 30 years

    Interest Rate- 9.35%-9.60% p.a.

    Per Lac EMI- 830-848

    Federal Bank Home Loan EMI Calculator

    The repayment of a home loan will be in the form of Equated Monthly Installments (EMIs), a portion of interest and principal amount payable on the loan. When you know you are eligible for a particular amount of loan from Federal Bank, you should then look to calculate the EMIs that you will have to pay from your pocket. Being unaware of the EMIs could disrupt your financial life in a big way. So, calculate EMI and get assured of the payout. Have a look at the example given-below:

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 20,00,0009.35%1₹ 1,75,228₹ 1,02,733₹ 21,02,733
    ₹ 20,00,0009.35%2₹ 91,691₹ 2,00,584₹ 22,00,584
    ₹ 20,00,0009.35%3₹ 63,926₹ 3,01,327₹ 23,01,327
    ₹ 20,00,0009.35%4₹ 50,103₹ 4,04,950₹ 24,04,950
    ₹ 20,00,0009.35%5₹ 41,857₹ 5,11,436₹ 25,11,436
    ₹ 20,00,0009.35%6₹ 36,399₹ 6,20,762₹ 26,20,762
    ₹ 20,00,0009.35%7₹ 32,535₹ 7,32,901₹ 27,32,901
    ₹ 20,00,0009.35%8₹ 29,665₹ 8,47,823₹ 28,47,823
    ₹ 20,00,0009.35%9₹ 27,458₹ 9,65,490₹ 29,65,490
    ₹ 20,00,0009.35%10₹ 25,716₹ 10,85,865₹ 30,85,865
    ₹ 20,00,0009.35%11₹ 24,310₹ 12,08,903₹ 32,08,903
    ₹ 20,00,0009.35%12₹ 23,157₹ 13,34,557₹ 33,34,557
    ₹ 20,00,0009.35%13₹ 22,197₹ 14,62,776₹ 34,62,776
    ₹ 20,00,0009.35%14₹ 21,390₹ 15,93,507₹ 35,93,507
    ₹ 20,00,0009.35%15₹ 20,704₹ 17,26,693₹ 37,26,693

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 64,149₹ 1,84,297₹ 19,35,850
    2₹ 70,410₹ 1,78,035₹ 18,65,440
    3₹ 77,283₹ 1,71,162₹ 17,88,156
    4₹ 84,827₹ 1,63,619₹ 17,03,328
    5₹ 93,107₹ 1,55,338₹ 16,10,220
    6₹ 1,02,196₹ 1,46,250₹ 15,08,024
    7₹ 1,12,172₹ 1,36,274₹ 13,95,852
    8₹ 1,23,121₹ 1,25,325₹ 12,72,730
    9₹ 1,35,139₹ 1,13,306₹ 11,37,590
    10₹ 1,48,331₹ 1,00,115₹ 9,89,259
    11₹ 1,62,810₹ 85,636₹ 8,26,449
    12₹ 1,78,702₹ 69,744₹ 6,47,746
    13₹ 1,96,146₹ 52,300₹ 4,51,600
    14₹ 2,15,292₹ 33,154₹ 2,36,307
    15₹ 2,36,467₹ 12,138₹ 0

    What are the documents required for Federal Bank Home Loan?

    ProofsSalariedSelf-employed   
    Two Passport Size PhotographsApplicableApplicable
    Age ProofDriving License/Passport/Birth Certificate/Educational CertificatesDriving License/Passport/Birth Certificate/Educational Certificates
    Identity ProofVoter ID/Passport/Aadhaar Card/PAN Card/Driving LicenseVoter ID/Passport/Aadhaar Card/PAN Card/Driving License
    Address ProofVoter ID/Passport/Aadhaar Card/Driving LicenseVoter ID/Passport/Aadhaar Card/Driving License
    Income ProofLast 3-month Salary Slip/Latest Salary Certificate, ITR or Form 16 for Last 2 Years, Last 6-month Bank Statement Showing Credit of SalaryLast 2-year ITR, Bank Statement for Last 12 Months, Balance Sheet and Profit & Loss Account for the Past 2 Years, Tax Challans
    Property DocumentsAgreement for Sale & Construction, Allotment letter / NOC from Builder for Mortgage of FlatAgreement for Sale & Construction, Allotment letter / NOC from Builder for Mortgage of Flat
    Duly Filled Application FormApplicableApplicable

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