Federal Bank Patna
Last Updated : June 1, 2018, 3:28 p.m.
About Federal Bank
Federal bank has been able to carve out a successful story of its own since its incorporation in the year 1931. The bank has turned out to be a major private sector commercial bank in the nation with a great performance on all the parameters. The bank which was earlier named as Travancore bank is located in the city of Kochi. The bank has always believed in being a customer centric institution which can set up a higher standard for a better customer experience. In addition to many branches spread in all the parts of the country, the bank has one office in Abu Dhabi, so that it can meet the needs of the NRI customers.
The bank has always raised the bar for others. Federal bank opened Federal Experience Center which was the first international standard banking facility in Kochi, which was available 24X7. It has dominated several award functions of the banking sector. It won the IDRBT Banking Technology Excellence Award 2013-14 in not one but four different categories, which is an achievement in itself. The bank has always believed in innovating in order to give customers a better experience. It launched Fed-E-Credit, its first ever digital loan where a customer can secure a loan against their fixed deposit. Patna, the capital of Bihar is on the path of development with many small scale industries setting up their base here. Federal bank has opened two branches in order to give the people of Patna better financial options through the form of its loan products.
Address of Federal Bank Branches in Patna
| Branches | Address | IFSC | MICR | Contact details |
|---|---|---|---|---|
| Patna | P B No. 164, New Dak Bunglow Road, , Patna, 800001 , Bihar | FDRL0001220 | 800049002 | 0612-2236045 |
| Raja Bazar | Legend Plaza , Ashiyana, Digha Main Road, Patna, Bihar 800014 | FDRL0001923 | 800049003 | 1800-425-1199 |
Products offered by Federal bank
People of Patna can now sigh a breath of relief as Federal bank is there to take care of their financial needs. The bank offers a home loan, car loan and education loan to the interested loan applicants who can match the eligibility criteria and submit the needed loan documents without failure. Want to have more information about the same? We have given all the important information in the form of tables. Check them out now.
Basic details of Federal bank loans in Patna
| 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 |