Federal Bank Loan Against Property

• Residents, Non-resident, and PIO individuals can apply.
• The loan can be availed against residential/ commercial properties or a plot of land.
• Security
• Immovable property's mortgage
• Property in close relative?s name will also be accepted
• For PIOs, the property should be in their own names
• The applicant has to inform the bank whenever there is a change in address/ employment.

• Loan is available as Overdraft as well as Term Loan.
• Surrogate Scheme available for self-employed
• Balance Transfer facility available with additional finance.
• Insurance options available at attractive premiums for Property Power Loan. The insurance amount can be included as a part of the bank?s loan component.

• Up to 30 months for Running Overdraft/ Demand Loan.
• Up to 120 months for Term Loan
• Up to 30 Months for Non Funded Limits

• Self-employed professionals, Firms, Companies, any other legal entity which is engaged in manufacturing/service/trading can apply (excluding NBFCs/ Real estate/ Chit Companies/ Export Credit).
• The bank will require immovable property's equitable mortgage with 25% margin as security.

• Low processing fee of 0.50%
• Term Loan, Working Capital/ Non-funded limits, and Demand Loan available

• Individuals/ Company/ Firm/ any legal entity with assured rental/ maintenance/ service income from reputed Companies/ PSUs/ Institutions/ Established Organisations can apply.
• Lower margin is required at 10% on the discounted value of the net rent receivables.

• Competitive interest rate
• Demand Loan, Term Loan, OD with diminishing Drawing Power (DP) available.

• Loan amount is decided according to the value of the security which is being provided.
• Value of the property-to-be-mortgaged should be minimum 60% of qualifying loan amount.
• Monthly payout from 2,000 to 25,000

• 10 to 15 years
• The remaining life of the property should be minimum 20 years.

• Applicant should be at least 60 years of age and their spouse should not be below 58 years of age when applying for the loan.
• If spouses jointly own a property (with age restrictions mentioned above), they can be co-applicants.
• Number of surviving spouses on the loan sanction date should not be more than one.
• Borrower must have property in their own name.

• Bullet payment option available
• Prepayment the loan is allowed by giving 6 month's notice.
• Settlement by legal heirs option is also available.
• Interest is reset every 5 years

• Up to 50% of the security's value
• Maximum 5 Crores

• NRIs and PIOs can apply
• The loan can be availed against residential/ commercial properties or a plot of land.
• Security
• Immovable property's mortgage
• Property in close relative's name will also be accepted
• For PIOs, the property should be in their own names
• The applicant has to inform the bank whenever there is a change in address/ employment.

• Loan is available as Overdraft as well as Term Loan.
• Surrogate Scheme available for self-employed
• Balance Transfer facility available with additional finance.
• Insurance options available at attractive premiums for Property Power Loan. Insurance amount can be included as a part of bank's loan component.

KYC Documents

• 2 passport size photos the applicant and the co-obligant
• Identity proof: Passport/ Aadhaar Card/ Voter's ID/ Driving License/ PAN Card.
• Address proof: Passport/ Aadhaar Card/ Voter's ID/ Driving License
• Age proof: Passport/ Driving License/ Birth Certificate/ SSLC or AISSE Certificate.
• Additional documents for NRI applicants: Certified copy of Passport, Visa, Work Permit, and ID card.

Income Documents

• Salaried - Resident
• Latest Salary Slip/ Salary Certificate for 3 months
• Copies of ITR or Form 16 for 2 years
• Latest Bank Account Statement for 6 months showing the salary credits
• Salaried - Non-Resident (either of the following 2 options)

Option 1

• NRE Account Statement of any bank for last 1 year
• Salary Certificate/ last 3 months' Salary Slip/ latest Salary Certificate (Embassy/ CRO certified) along with 6 months' Salary Crediting Statement.

Option 2

• NRE Account Statement for 2 years of the customer and/or Resident Accounts of parents/spouse (with Federal Bank or other bank) in which remittance is made.
• Self-employed - Resident
• Business Existence proof and Business Profile
• Bank Account statements for last 12 months
• ITR for 2 years along with Balance Sheet, P&L Account for the last 2 years.
• Tax Paid Challans (wherever available) or ITR for last 2 years supported by tax calculation sheet and Tax paid challans.
• Self-employed - Non-Resident (either of the following 2 options)

Option 1

• Business Existence proof and Business Profile
• Bank Account Statements for last 12 months
• Balance Sheet and P&L Account for the last 2 years
• Tax Paid Challans (wherever available)

Option 2

• NRE Account Statement for last 2 years of the customer and/or resident accounts of parents/ spouse (with Federal Bank or other bank) in which remittance is made.

• Property Documents
• Title documents
• Encumbrance Certificate for 13 years
• Possession Certificate
• Location Sketch
• Building Tax receipt (if applicable)
• Receipt of Land Tax
• Approved Plan

• Identity proof: Passport/ Driving License/ Voter's ID / PAN Card
• Address proof: Ration Card/ Passport/ Telephone Bill/ Electricity Bill/ Lease Agreement/ Trade License/ Sales Tax Certificate.
• Last 6 months' Bank Statement
• Proof of continuation: ITR/ Establishment/Sales Tax Certificate/ Trade License
• ITR/Sales Tax Returns of proprietor/ firms/ partners/ companies (wherever applicable).
• Audited or unaudited financial statements (as applicable) for the last 2 years, for existing units.
• Projected financial statements
• Copy of NOC/ license from local body or license by competent authority for running the business.
• Other documents requested by the bank as per individual requirements

Loan Against Rent Receivables

• Identity proof: Passport/ Driving License/ Voter's ID/ PAN Card
• Address proof: Ration Card/ Passport/ Telephone Bill/ Electricity Bill/ Lease Agreement/ Trade License/ Sales Tax Certificate.
• Bank Statement for last 6 months
• Last 2 years ITR with computation of income, Balance Sheet and P&L account (audited).
• Continuation proof: ITR/ Trade License/ Sales Tax Certificate/ Establishment
• Copy of registered lease agreement/ service agreements/ maintenance, duly executed & acknowledged by lessor and lessee. Also, original agreement should be obtained & verified.
• Copy of the tax paid to local bodies or Tax Assessment order (wherever applicable).
• Other documents requested by the bank as per individual requirements

Car Loans

Gold Loans

Housing Loans

NRI Gold Loan

NRI Car Loan

Agri Loans

Term Loans

Bank

Bill Discounting

Project Finance

Letter of Credit

PCFC

EEFC Accounts

Gilt Accounts

Deposits

Fixed Deposits

Debit Cards

Credit Cards

Gift Cards

Life Insurance

• Property Power Loan: 1% of the sanctioned limit, minimum 3,000.
• SME Loan Against Property: Up to 1% of the sanctioned limit.
• Federal Aashray Loan: 0.50% of the sanctioned limit, minimum 1,000 and 5,000.

Property Power Loan

• Floating interest rate loan to Individuals: Nil
• Fixed interest, Overdraft, Non Individuals: 3% of the balance outstanding or DP, whichever is higher.
• Hybrid loans:
• Fixed rate period: 3% of the balance outstanding or DP, whichever is higher.
• Floating rate period: Nil for Term Loan to Individuals and 3% of the balance outstanding or DP, whichever is higher, for Overdraft Loans to Non-individuals.

SME Loan Against Property

• OD/CC: 3% of the limit sanctioned (includes adhoc limit, if sanctioned).
• Demand/ Term Loan/ OD with diminishing DP: 3% of the outstanding balance or DP, whichever is higher.
• BG/LC: Nil

Property Power Loan: 2% p.m. of the overdue portion. Additional penal interest is applicable for SMA accounts.

SME Loan Against Property

• OD/CC: 2% of the overdue portion. Additional penal interest is applicable for SMA accounts.
• BG/LC: Maximum lending rate as applicable on non-priority loans from time to time.
• Term Loan/ OD/ Demand with diminishing DP: 2% of the overdue portion. Additional penal interest is applicable for SMA accounts.

SME Loan Against Property:

• OD/CC: 0.15% per quarter of unutilised portion, 50% of processing fee (for un availed loans).
• Demand/ Term Loan/ OD with diminishing DP: 50% of processing fee (for un availed loans).
• BG/LC: NA