Federal Bank Mumbai
Last Updated : June 1, 2018, 3:27 p.m.
About Federal Bank
Thinking of availing a loan from a financial institution which is credible and gives you a smooth loan journey? I have the answer for you- Federal bank. The bank which was formed on April 28, 1931 has emerged as one of the most stable commercial banks in the private sector. The main head office is situated in Aluva in the enticing city of Kochi. The bank has a history which dates back to India’s pre-independence era. The bank has seen a significant growth under the leadership of K P Hormis, who founded the bank. In the early times, it was engaged in the business of auction chitty and other banking transactions which were related to industry and agriculture. And today, the Federal bank stands as one of the largest traditional banks in the private sector in India. The bank has more than thousand operating branches and ATMs which help the customer on a day to day basis.
Federal bank has always considered innovation as a major tool, which can bring a change in the way things work in the banking sector. It is the first bank in the country which introduced the facility of RTGS in all its branches. The bank has been rewarded with several awards like ‘Most Socially Committed Organization’, ‘Best Corporate Brand’ and ‘Excellence in Banking Technology’. Mumbai is the financial and entertainment capital of India and so many people from all parts of the country come here for better employment facilities. Federal bank has been working hard to ensure that the financial problems of the Mumbaikars are solved. It is offering various loan products keeping in mind the needs of the people.
Address of Federal Bank Branches in Mumbai
| Branch | Address | IFSC | MICR | Contact details |
|---|---|---|---|---|
| Mumbai / Fort | P B No. 251, 32, Bombay Samachar Marg, Fort, Mumbai, 400001 , Maharashtra | FDRL0001099 | 400049005 | 022-22654455 |
| Andheri | P B No. 17387, 8, 9, 10, Laram Centre, S.V.Road, Andheri (West), Mumbai, 400058 Maharashtra | FDRL0001176 | 400049002 | 022-26288115 |
| Dadar | P.B.No. 5529, Rajgir Court, , 6 Kohinoor Road, , Dadar (East), Mumbai, 400014 , Maharashtra | FDRL0001199 | 400049003 | 022-24147384 |
| Crawford Market | 92, Mimson House, L T Marg, Crawford Market, Mumbai, 400003 , Maharashtra | FDRL0001285 | 400049004 | 022-23453202, 3203, 3315 |
| Dombivli | 101 - 105, Kasturi Plaza Complex, Manpada Road, Tilak Nagar, Dombivli (East), Mumbai, 421201 , Maharashtra | FDRL0001358 | 400049006 | 0251-2862177 |
| Vashi | P B No. 172, No.51 Apsara Apartments, Sector 17, Vashi, Navi Mumbai, 400705 , Maharashtra | FDRL0001369 | 400049007 | 022-27899656 |
| Corporate Banking | Corporate Banking Branch, 12/227, Nariman Bhavan, 1St Floor, Nariman Point, Mumbai, 400021 , Maharashtra | FDRL0001385 | 400049009 | 022-22844532 |
| Borivali | Sunder Bungalow, S.V.Road, Opp.Pushpa Park, Fly Over, West Borivali, Mumbai, 400092 , Maharashtra | FDRL0001391 | 400049011 | 022-28066633 |
| Vile Parle | Wembley Ground Floor, Off Nehru Road, Near Adarsh Petrol Pump, Vile Parle East, 400057 , Maharashtra | FDRL0001393 | 400049008 | 022-26154635 |
| Bandra West | B - 989 Casa Adriana, 15, St. John Baptist Road, Bandra (West), Mumbai, 400050 , Maharashtra | FDRL0001398 | 400049012 | 022-2641537 |
| Chembur | Shop No.1, Ed - El, Plot No.208, , Central Avenue Road, Chembur, Mumbai, 400071 , Maharashtra | FDRL0001399 | 400049013 | 022-25298105 |
| Dadar West | Plot 350 Neminath Apt, Bhaindarkar Marg Dr Sk Bole Road Dadar West Mumbai Maharashtra | FDRL0001505 | 400049015 | 022-24326642 022-24326641 |
| Kandivali | 93 94 & 95 Venues Chs Ltd 17 Evershine Millennium Paradise Thakur Village, Kandivali East Mumbai - 400101 Maharashtra | FDRL0001622 | 400049024 | 022 28874433 28463083 |
| Kalina | Ground Floor Aiswarya Towers C S T Road Santacruz East Mumbai – 400098 | FDRL0001682 | 400049027 | 1800-425-1199 |
| Malad West | Ground Floor, Link House, Chincholi Bunder, Malad West, Mumbai, Maharashtra - 400 064 | FDRL0001836 | 400049035 | 1800-425-1199 |
| Andheri East | Ground Floor, Mariam Apartment, Opp Gurudwara, Sher E Punjab Society, Mahakali Caves Road, Maharashtra - 400093 | FDRL0001829 | 400049034 | 9867954680 |
Products offered by Federal bank
Federal bank has designed a financial product for every need of the customer. Want to own your favorite car but don’t have enough money to buy it? Avail a car loan from the bank. Sponsor your child’s education with Federal bank education loan. Start your new business or expand an existing one with Federal bank business loan. Lay foundation stone to your dream with a home loan provided by the bank. Whatever may be the need, the solution will be provided by Federal bank. The below two tables will give you crystal clear idea about the details of the products and the documents needed to get a loan from the bank.
Basic details of Federal bank loans in Mumbai
| 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 | The monthly salary should be Rs. 50,000 and above. Applicant’s maximum age should be 55 years. The applicant should be employed in the present job for at least three years 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% of the loan amount . It can be a minimum of Rs. 500. | New vehicle- 5 years Salaried- 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 |
