Federal Bank Indore
Last Updated : Jan. 30, 2017, 1:22 p.m.
About Federal Bank
Federal bank is one of the noted commercial banks in India part of the private sector which was constituted in 1931. The bank has its head office in the picturesque city of Kochi in Kerala. The bank moved to the city in 1945 and it got the name Federal bank Limited in 1947, the year of Indian independence. Since then, it has emerged as one of the most stable financial institutions in the entire country. With over thousand ATMs and branches spread at all corners, the bank is taking care of the requirements of the customers. It has always believed in keeping the customer under focus by offering well suited financial products. It has extended its reach by making all the products and services available to the customer 24X7.
In 86 years of its existence, Federal bank has touched many milestones. It has been successful in winning major accolades like ‘Best Corporate Brand’ and Skoch Smart Technology Award 2015 for its outstanding service. When it comes to innovation, the bank deserves a special mention. It has introduced FedBook and VConnect for the customers. FedBook is a passbook which is based on mobile application. This has eliminated altogether the need to go to a home branch so as to update a passbook. VConnect has given the facility to customers to video chat with the relationship managers of the bank. A customer located in any part of the world can chat with a manager face to face. Federal bank is striving hard to bring a smile on the faces of the people in Indore, by providing them financial assistance from time to time.
Address of Federal Bank branches in Indore
| Branch Name | Address | IFSC | MICR | Customer Care |
|---|---|---|---|---|
| Indore | P B No.108, 1/2 Jaora Compound, M Y H Road, Indore, 452001 , Madhya Pradesh | FDRL0001234 | 452049002 | 0731-2704217 |
| Vijayanagar | Shagun G1 & G2, Plot No.7, Pu 4, Scheme 54, Ab Road, Indore 452010 Madhya Pradesh | FDRL0002140 | Non-MICR | 1800-425-1199 |
| Indore Pipliyahana | C-3, Brajeshwari Extension, Main Road, Ida Scheme No.140, Near Pipliyahana Chouraha, Indore 452001 Madhya Pradesh | FDRL0002142 | Non-MICR | 1800-425-1199 |
Products offered by Federal bank
Federal bank has a box full of financial products which are suitable enough to meet the needs of the customers. Whether it is personal banking or corporate banking or NRI banking, the bank has something to offer to everyone. You can even open a fixed deposit account with the bank and get attractive good returns on the same. Want to know more about the products provided by Federal bank? Have a glance at the tables below-
Basic details of Federal bank loans in Indore
| Product | Eligibility | Loan amount | Interest rate | Processing fee | Tenure |
|---|---|---|---|---|---|
| Home Loan | You must be a salaried employee or a self-employed or a business in order to avail a home loan from the bank. The total employment stability needs to be at least 2 years. Current employment stability of minimum 1 year is required. | Up to Rs. 1500 Lakhs | 10.15% - 10.30% | Up to 30 years | |
| Personal loan | Not applicable here Only applicants in the cities selected by bank can apply. They are Bengaluru, New Delhi & NCR, Chennai, Mumbai, Kochi, Pune and Thiruvananthapuram | Rs. 10 Lakhs | 10.49% - 17.99% | 48 months i.e. 4 years | |
| Car Loan | The applicant should take home a minimum of Rs 7500 after meeting all monthly EMI commitments. This also includes the proposed one. Resident individuals and big corporates can apply for a car loan from the bank | 7.65% Onwards | 0.50% pf the loan amount . It can be a minimum of Rs. 500. | New vehicle- 5 years For Salaried individual- 7 years Old car- 5 years | |
| Fixed deposits | People who can open a fixed deposit with the bank- An individual Hindu United Family Associations/Clubs Joint Stock companies Firms Sole Proprietary concerns Guardians for minor children Any entity which has not been prohibited by Reserve Bank of India Individuals can jointly open an account with another person | The minimum amount required for a fixed deposit at Federal Bank is Rs. 1,000. No maximum limit has been set as such. You can get a loan against your fixed deposits upto 90% of the deposit | 2.50% - 6.00% | NIL | Minimum- 7 days Maximum- 10 years |
| Gold Loan | Any individual who owns gold coins or ornaments is eligible to apply for a gold loan | Up to Rs. 75 lakhs | 12.50-13.50% | 12 months | |
| Education Loan | The applicant should be an Indian national He/she needs to secure admission into one of the institutes selected by the bank | Up to Rs 20 Lakhs | 10.15-14.75% | No processing fee | 10 years |
| Property Loan | Individuals (Residents, Non-residents, PIOs) can apply | Up to Rs 5 crore | 11.65-14.9% | 1% of the sanctioned amount | Up to 15 years |
| Business Loan | Firms, individuals or any company can apply | For professionals- up to Rs 2 crore | 11.50% | Up to 120 months i.e 10 years |
Documents required
| Product | Documents |
|---|---|
| Home loan | Two photographs of passport size of the applicant and the co obligant Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill Proof of Age- Birth Certificate/Passport/ SSLC or AISSE Certificate/Driving License 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 past 12 months proof of existence of business and its profile Income Tax returns of the previous two years along with Balance Sheet/ Profit & Loss account IT returns of the past two years supported by tax calculation sheet Property documents- Agreement for Sale & construction, Letter of Allotment, Tripartite Agreement which has to be given before disbursal of loan, Certificate of possession, Detailed cost of construction and Land tax receipt. |
| Personal Loan | Completely filled application form which is duly signed Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill A copy of PAN card is mandatory Applicant’s latest photo of passport size ( two copies) Income Documents- Salary slip of three months /Latest salary certificate, IT returns of the past two years or Form 16 and bank statement of the past six months |
| Car loan | Two photographs of passport size of the applicant and the co obligant Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill Proof of Age- Birth Certificate/Passport/ SSLC or AISSE Certificate/Driving License 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 past 12 months proof of existence of business and its profile Income Tax returns of the previous two years along with Balance Sheet/ Profit & Loss account IT returns of the past two years supported by tax calculation sheet Other documents- Invoice Own house proof or latest land tax receipt In case of used car, Valuation and sale letter from an authorised used car dealer Some property documents if loan amount is above 10 Lakhs- document of title, possession certificate, EC for 13 years location sketch |
| Gold loan | In case you are new customer, you require the following documents- Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Recent photograph of passport size Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill/Trade license/Sales tax certificate |
| Loan against property | Two photographs of passport size of the applicant and the co obligant Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill Proof of Age- Birth Certificate/Passport/ SSLC or AISSE Certificate/Driving License 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 past 12 months proof of existence of business and its profile Income Tax returns of the previous two years along with Balance Sheet/ Profit & Loss account IT returns of the past two years supported by tax calculation sheet Property documents- Agreement for Sale & construction, Letter of Allotment, Tripartite Agreement which has to be given before disbursal of loan, Certificate of possession, Detailed cost of construction and Land tax receipt. |
| Education loan | Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill Admission letter/Offer letter Fee structure proof Basic Qualification and mark-list |
| Fixed deposits | A coloured photograph Passport/ Driving License Last six months bank account details Documents required from the trust, association/ clubs Photographs of the member operating the account. A Copy of the Trust Deed/ Bye- laws of the association. A Copy of registration certificate. A Copy of the resolution of trustee authorizing the member to operate and open the accounts |
| Business Loan | Proof Of Identity- Aadhar card/PAN Card/Passport/Driving License/Voter ID Card Proof of Residence- Voter ID Card/Aadhar Card/Passport/Lease agreement/Ration card/Telephone bill/Electricity bill Bank statement of the last six months Proof of continuation -ITR /Establishment / Trade license/Sales Tax certificate Income Tax returns of the previous two years along with audited Balance Sheet and Profit & Loss account if applicable |