FedPremia - Personal Loans
Features & Benefits
We offer hassle free personal loans for salaried individuals with minimum monthly salary of Rs.25,000/-.
Eligibility
Who can apply?
- Resident individuals* with monthly net salary Rs.25000/- and above
- Maximum age – 60 years at the end of loan tenure
- Number of years in the present Job* – 3 years
*Conditions apply
How to avail the loan?
Please contact the nearest Branch at select locations. Call us at 1800 425 1199 or 1800 420 1199 for more details.
Documents Required
Indicative List of Documents Required for Loan processing are provided below.
KYC documents
- Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
- Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport)
- Copy of PAN Card
- Latest Passport size photo of the applicant (2 copies)
Income documents
- Latest salary certificate/Last 3 months salary slips
- Form 16/Income Tax Returns( last 2 years)
- Last 6 months salary account statement
- Loan application form duly signed
Interest Rates
We offer personal loans at lowest interest rates. Please click here to know the interest rates for Personal loans.
Other Loans
Hassle free personal loans for salaried individuals with features such as Maximum Loan amount of Rs.25 Lakh, Maximum Tenure of 48 Months, Attractive rate of interest and much more
Federal Bank offers ‘Loan against Sovereign Gold Bond’ which can be used to meet your personal needs or any other lawful needs. Pledge of Sovereign Gold Bond in both demat and physical form are accepted as security. This facility is available at all our branches.
When urgent expenses knock your door, meet them with instant funds. Whatever be your need, get the money you need without hassles.
Federal Bank provides you with loan against your deposits with the bank to meet your urgent and unforeseen personal expenses.
Loan Against Demat Shares is a product which offers way of raising funds when in need without liquidating the accumulated shares. This loan offers an opportunity to monetise your investments to raise capital for your personal /business financing needs. You don't have to provide any additional security or collateral except the securities you are pledging!
IMPORTANT LINKS
Customer Care | RBI Sachet Portal | Privacy Policy | RBI CMS Portal | Register e-Mandate
Frequently Asked Questions- FedPremia Personal Loans
How to apply FedPremia Personal Loan in Federal Bank?
FedPremia Personal loans are granted to salaried individuals with minimum monthly salary of Rs.25,000/-. To apply for a personal loan, please contact any of our branches or submit your contact details in the enquiry form provided below.
What is the tenure of a FedPremia personal loan?
Personal loans have a maximum tenure of 60 months
What is the rate of interest in Federal Bank for FedPremia Personal Loan?
Interest rates for Federal Bank Personal loans ranges from 10.49% p.a to 17.99% p.a. Personal loan interest rate will change subject to the changes made by Bank/RBI from time to time.
How can I make repayment of FedPremia Personal Loan?
Repayment of personal loans are to be made in Equated Monthly Installments (EMI).
What is EMI?
EMI stands for Equated Monthly Installment. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your Federal Bank personal loan. Your housing loan EMIs are fixed at the time of availing the loan. EMI's are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid to the bank along with interest.
What are the factors affecting personal loan EMI?
- Principal - The principal is the loan amount that you avail from Bank. Lower principal will lower your EMI and vice versa.
- Rate of Interest - The rate of interest is the rate at which Bank offers you the car loan. It is also directly proportional to your car loan EMI.
- Tenure - The tenure or the period is the time within which you repay your loan. It is inversely proportional to EMI. It means longer tenure makes EMIs cheaper and vice versa.
What is Fixed rate of interest?
Fixed rate of interest means interest rate remains constant during the entire tenure of the loan.
What is Floating rate of interest?
Floating rate of interest means interest rate fluctuates based on the changes in RBI’s Repo Rate.
What is Repo Rate?
Repo rate is the rate at which Reserve Bank of India lends money to commercial banks in the event of any shortfall of funds. Repo rate is used by monetary authorities to control inflation.
How can I calculate FedPremia Personal loan EMI?
You can calculate car loan EMI using our Personal Loan EMI calculator by entering principle amount, tenure, rate of interest etc.
What is an amortization schedule?
Amortization is a tabular schedule with details of interest payment and periodic principal of a loan along with the amount outstanding after each payment and the decrease of loan balance till zero.
Can I prepay my FedPremia personal loan?
Yes, you can make your prepayment in either part or full.
What are the service charges for FedPremia Personal loans?
Please click here to know more service charges for personal loans.