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FedBank Finance Business Loan
FedBank Finance Business Loan, provided by Fedfina, a division of Federal Bank, is a financial service tailored to accommodate various business needs. Federal Bank is one of India's top-ranking scheduled commercial banks. The FedBank Finance Business Loan offers a variety of loan types including gold loans, home loans, loans against property, and traditional business loans.
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FedBank Finance Business Loan
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FedBank Finance Business LoanHere are a few factors
| Location | 85 Km from Branch |
| CIBIL Score | 680+ |
| Processing | Offline |
| Business Vintage | 3 Year |
| Minimum Turnover | 1Cr+ |
| Loan Amount & Tenure | 10
Lac-50 Lac (12 month to 36 month) |
| Loan Product | Term Loan |
| Rate of Interest & Type | 16% to 18% (Reducing) |
| TAT | Sanction-5
Days Disbursement-7 Days |
| Processing Fees | 2% |
| Foreclosure Charges | 4% |
| Applicant Type | Any Self Employed Person |
| Whether Co-Applicant Mandatory | Mandatory |
| Proprietor Age/Co-Applicant Age | 25 Year-65 Year |
| Part Payment Allowed | No |
| Whether Ownership Proof Required | Yes, either office or residence one should be owned within any Branch Jurisdiction |
| Business Registration Proof Mandatory | Yes |
| Program | Banking Program-30 Lac, Income Program-50 Lac |
| Product for Professionals | No |
| Negative Profile | Grain Traders, Advocates, Jewellers,Share Traders, Liquor Business, Iron & Steel, Auto Mobile, Real Estate |
| USP | 1. Funding to School |
| Additional | 1.
Minimum 51% Shareholding required on Loan if applicant is LLP/Partnership
firm/Company 2. Travel, Civil Contractors, Gym is catious profile |
FedBank Finance Business Loan EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 17 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 9,120 |
| Total Interest | ₹ 9,446 |
| Loan Amount + Interest | ₹ 109,446 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,438 | ₹ 3,922 | ₹ 27,360 | ₹ 76,562 | 23.44 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,554 | ₹ 5,526 | ₹ 82,080 | ₹ 8 | 99.99 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for FedBank Finance Business Loans
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Note : FedBank Finance Business Loan may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.
Some Important Points
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
About FedBank Finance Business Loan
Are you an entrepreneur with big dreams and a vision to take your company to new heights? Look no further, because FedBank Finance Business Loan is here as your progress partner. FedBank Finance's business loan product is intended to offer the financial impetus you need to turn your ideas into reality, with a dedication to powering your goals.
FedBank Finance recognizes that each company's journey is unique. Whether you have a new business or an established one, the business loan is designed according to your individual requirements. It believes that your aspirations deserve the resources they need to succeed, and that is exactly what FedBank provides: a pathway to finance that enables innovation, development, and growth.
Here are a few factors about FedBank Finance
FedBank Finance, formerly known as Ratnakar Bank, is an Indian private sector bank. It offers services across six verticals: corporate and institutional banking, commercial banking, branch and business banking, retail assets, development banking and financial inclusion, treasury and financial market operations. To meet short-term funding and working capital needs, FedBank Finance provides completely secured business loans. You can obtain money from the bank to expand your firm. The maximum loan amount granted by the FedBank Finance is up to Rs. 50 lakh with a repayment period of up to 36 months, and the interest rate on business loans ranges from 16% to 18% p.a. If you are looking to grow your business without worrying about the finances, then Fed Bank Business Loan is your way to go! You can easily avail of a business loan from FedBank Finance which is well supported by their dedicated team and staffs. They offer the most competitive interest rates in the market with a hassle-free documentation process. So, moving ahead let’s explore and find more about FedBank Finance Business Loan.Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
FedBank Finance Business Loan is a financial product offered by FedBank Finance (Fedfina), a subsidiary of the Federal Bank. It provides business loans including gold loans, home loans, and loans against property. The loans are structured to accommodate different financial needs of businesses.
Interest rates for FedBank Finance Business Loans start from 16% per annum. The exact rate is determined based on various factors like loan type, loan amount, repayment tenure, the applicant's credit score, and other relevant parameters.
The eligibility for a FedBank Finance Business Loan varies with the loan type and scheme opted for. Some general eligibility criteria include: the applicant can be an individual, a self-employed professional, an MSME, or a business entity engaged in trade, service, or manufacturing sectors. The minimum annual turnover ranges min Rs. 1 crore based on the type of loan. The applicant is required to have a minimum credit score of 680, and their business should display a stable performance with positive cash flows and profitability.
The documentation for a FedBank Finance Business Loan can vary depending on the loan type and scheme. Common documents required include KYC documents, proof of business, financial statements, and, for some loan types, property documents or gold ornaments/liquid securities.
You can apply for a FedBank Finance Business Loan either online or offline. The online application involves visiting Fedfina's official website, filling out the application form, and uploading necessary documents. The offline method requires visiting the nearest Fedfina or Federal Bank branch and submitting a physical application along with required documents.
The processing time for FedBank Finance Business Loans can differ depending on the loan type and chosen scheme, but generally, it takes between 24 hours to 7 days for the loan approval and disbursement process.
Repayment options for a FedBank Finance Business Loan can differ based on the loan type and chosen scheme. Common repayment methods include EMIs via post-dated cheques (PDCs), electronic clearing service (ECS), or standing instructions (SI). There's also the option of a bullet payment at the end of the loan tenure, or part payment or prepayment as per the terms and conditions of the loan agreement.
Yes, there are additional charges for a FedBank Finance Business Loan which can vary depending on the loan type and chosen scheme. These include a processing fee, prepayment penalty, late payment penalty, cheque bounce charges, and documentation charges.
You can check the status of your FedBank Finance Business Loan application online by visiting the official Fedfina website and entering your application number and mobile number. Alternatively, you can call Fedfina's or Federal Bank's customer care number and provide your application details.
You can contact the FedBank Finance customer care through various channels including a toll-free number, email, WhatsApp, online chat on their website, or by visiting a branch.
The FedBank Finance Business Loan offers a range of benefits including attractive interest rates, high loan-to-value ratios, flexible loan tenures, minimal documentation, quick processing, and personalized customer service.
Some drawbacks of a FedBank Finance Business Loan include high processing fees and prepayment penalties, a high late payment penalty, and a limited branch network compared to other banks and NBFCs.
Alternatives to a FedBank Finance Business Loan include HDFC Bank Business Loan, Bajaj Finserv Business Loan, and ICICI Bank Business Loan.
You can calculate your EMI for a FedBank Finance Business Loan using the EMI calculator available on the official Fedfina website. Enter your loan amount, interest rate, and loan tenure to calculate your EMI.
To foreclose your FedBank Finance Business Loan, you need to pay the outstanding amount along with any prepayment penalty and other charges as per the terms of your loan agreement. You can visit your nearest Fedfina or Federal Bank branch and submit a foreclosure request.
You can get a top-up loan on your existing FedBank Finance Business Loan if you have a good repayment history and credit score. You can visit your nearest Fedfina or Federal Bank branch and submit a request for a top-up loan.
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