Thinking of availing a Personal Loan to consolidate your debts?

Take a look at Federal Bank Personal Loan to consolidate your debts

Federal Bank FedPremia Personal Loan

This loan scheme helps salaried employees of reputed public and private organisations and self-employed professionals/non-professionals having a regular source of income to get funds to meet their personal needs. This loan can be availed to meet expenses such as those for a child’s wedding, domestic and foreign travel, medical emergency, debt consolidation, etc.

Features of FedPremia Personal Loan from Federal Bank

Why this Loan?

  • The Federal Bank Personal Loan is designed to help salaried employees of public limited companies, private limited companies, Central and State Government undertakings, multinational corporations, reputed partnership firms with at least 3 years of continuous service get funds to meet their personal financial needs such as medical emergency, child’s wedding or education expenses, debt consolidation, etc.
  • This is an unsecured loan, meaning you don’t have to offer any collateral to get the loan

Loan Amount

  • The maximum loan amount offered under this loan scheme is Rs. 25 lakh

Interest

  • As of October 2020, the interest rate applicable to this loan may range from 11.49% to 17.99%

Repayment


  • This loan must be repaid within 4 years
  • The maximum age of the borrower at the end of loan tenure is 60 years

Eligibility

  • The minimum income requirement is Rs. 25,000 per month for borrowers to be eligible for this loan
  • Salaried employees of Central and State Government undertakings, public limited companies, private limited companies, multinational corporations, reputed partnership firms with at least 3 years in the present job are eligible for this loan

Security Needed

  • This is a collateral-free loan

Processing Charges


  • As of October 2020, this information is not mentioned on the bank’s website. We suggest calling the Federal Bank customer care number to get the details

Documents Needed

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns

Reference Facts:

  • Federal Bank Website: www.federalbank.co.in
  • Headquarters: Kochi, Kerala
  • Call Centre Toll-Free Number: 1800 425 1199, 1800 420 1199