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CreditMantri Finserve Private Limited
CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002
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Get Federal Bank home loans at affordable interest rates. Federal Bank Home Loan interest rates vary based on the home loan tenure, home loan amount, credit score, and many other factors. Also, women can obtain home loans at slightly lower rates.
Get loans starting from 11.25% interest rate
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Owning a house rather than living in a rented one will have its differences. You wouldn’t have to bank a cheque every month to the name of your house owner. You can make your own renovations and paint your house as you like. You can hang pictures wherever you want without calling your landlord to ask if it is ok to put a nail into the wall. And of course, you will always have a safe haven to come back to, regardless of wherever you are. Houses will cost a lot and you would need a lot of money in your pocket to buy one. Not everyone has a lot of money lying around in their banks. Availing a loan is a common thing to do when you are planning to buy a house.
Home loans can be availed through banks or financial institutions. They provide you with a loan and you would be expected to pay back in instalments along with an interest rate. Interest rates are charged by banks so that they can profit out of the services that they provide for you. Federal Bank provides you with home loans with interest rates that range from 8.75% to 9.15%.
Repayment of the loan is done in Equated Monthly Installments (EMI)
You can make use of any one of the ways to repay the loan:
| Home Loan Tenor | MCLR% per annum |
|---|---|
| Overnight MCLR | 8.7% |
| 1-month MCLR | 8.8% |
| 3 months MCLR | 8.95% |
| 6 months MCLR | 9.05% |
| One-year MCLR | 9.15% |
KYC Documents
Income Documents – For Resident Salaried
Income Documents – For Resident Self Employed
Income Documents- For Non-Resident Salaried
Either option1 or option2 is required
Option 1
Option 2
Income Documents- For Non-Resident Self Employed
Either option1 or option2 is required
Option 1
Option 2
1. What is the maximum loan amount that can be borrowed?
Loan amount of up to Rs. 1500 lakhs with a loan margin of 15-20% can be availed.
2. Is there a processing fee on Federal Bank Home Loan?
Processing fee of 0.5% is charged, where the minimum that is charged is Rs. 3000 and the maximum charged is Rs. 7500.
3. What is the lowest interest rate that is charged?
The lowest interest rate that is charged is 8.75% and goes up to 9.15%. The rate of interest charged depends on the salary of the applicant, the type of loan that is availed, the amount borrowed and if the applicant is an existing customer.
4. What are the repayment options given by Federal Bank?
Repayment of the loan is done in Equated Monthly Instalments (EMIs). They can be repaid through cheques, internet banking (FedNet), automated payment through ECS or mobile banking.
5. What is the repayment period for home loans that is given by Federal Bank?
Repayment period is 30 years and can be done as easy EMIs.
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application