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federal bank loan against property
Federal Bank Loan Against Property can give you the freedom to get the right financial help without losing any of your assets.
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federal bank loan against propertyHere are a few factors
| Location | 50Km from Branch |
| CIBIL Score | 680+ |
| Applicant | Any Salaried & Self Employed |
| Applicant Age | (i)
Salaried: 21 year to 65 Year (ii) Self Employed: 21 Year to 70 Year |
| Loan Amount & Tenure | 50
Lac- 15 Cr ( 5 Year to 15 Year) |
| Login Fees | 5900 |
| Rate of Interest & Type | 9.50%-11% (Reducing) |
| TAT | 5 days |
| Processing Fees | 0.5%-1% |
| Foreclosure Charges | Nil |
| Insurance | As per Age |
| Minimum Business Vintage | 3 Year |
| Lock In Period | No Lockin Period |
| Part Payment Allowed | Yes |
| LTV | (i)
Residential-75% (ii) Commercial-70% (iii) Industrial-70% (iv) Plot-60% (v)
Hotel & Restaurent-50% (vi) if residential property is rented/vacant then LTV will be 5% lower (vii) If Commercial/Industrial Property Purchase/vacant/rented then LTV will be 5% lower (viii) Nursing Home (25 Bed+) 50% (ix) School (100+Students)-50% |
| Product | (i) Fresh Loan (ii) BT+Topup (iii) Commercial & Industrial Purchase (iv) Lease Rental Discounting |
| Program | (i)
Banking Program-5 Cr on Current Account, 3 Cr on Saving Account (ii) Income Program-15 CR (iii) RTR Program- After 18 month-1.15X, After 36 month-1.25X |
| FOIR | (i) Salaried:<50k-60%,50K-1 Lac-65%, >1 lac-70% (ii) Self Employed-150% of Cash Profit |
| Cautious Profile | Real Estate |
| Negative Profile | (i) Politian (ii) Share Traders (iii) NBFC (iv) Police(v) Liquor Seller (vi)DSA (vii) Applicant living in dominated area |
| Funded Property | (i) Residential Property (ii) Commercial Property |
| Negative Property | (i)
Industrial Property (ii) Plot (iii) School (iv) Hospital & Nursing Home
(v) Hotel & Restaurants (vi) Lease hold Property without PTM (vii)Stand Alone Basement (viii) Auction Property (ix) Demolition List Property (x) Lal Dora Property (xi) PG Property (xii) Khasra & Khatauni Property (xiii) Subject to Sale Deed Property (xiv) GPA Property (xv) Gift Deed Property (xvi) Single Sale Deed Property (xvii)Without MAP Property (xviii) Unapproved Freehold Property (xix) Legal & technical not clear(xx) Stone Slab Property (xxi) Unapproved Farm House (xxii) Multi Tenanted property (xxiii) Gram Panchayat Property |
| Accepted Collateral | Other than Negative Property |
| Specific Property wise Funding Limit | No |
| Any Specific Product for Professionals | No |
| USP | Upto 5 Cr No financial Required |
federal bank loan against property EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 9 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,745 |
| Total Interest | ₹ 4,942 |
| Loan Amount + Interest | ₹ 104,942 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 24,165 | ₹ 2,070 | ₹ 26,235 | ₹ 75,835 | 24.16 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 75,832 | ₹ 2,873 | ₹ 78,705 | ₹ 3 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for Federal Bank Loan Against Property
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement 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 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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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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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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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
Some Important Points
If Applicant is
- 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
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
About Federal Bank Loan Against Property
You may avoid the unexpected panic brought on by a financial crisis by using a Loan Against Property (LAP). No matter how wealthy a person is, financial collapse can happen to anyone at any moment. When facing financial difficulties, the property provides a sense of security for the majority of people, but it often offers little in the way of everyday value. So why not make effective use of such security at times of need to deal with financial difficulties?
Apply for a Federal Bank Loan Against Property (LAP) with rates starting at 10.10% p.a. and a 10-year term. For a variety of company purposes, you could apply for a mortgage loan without any difficulty.
Are you a self-employed or a salaried individual lacking funds? Then applying for a loan against property is the one-stop solution for your issues. It would help if you started looking for some great banks near you offering your lowest interest rates and highest loan amounts to their customers. And Federal Bank is one of those right now, so we know more about Federal Bank Loan Against Property below in this article.
Advantages of Federal Bank Loan Against Property
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Quick and easy loan approvals
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Longer loan tenures
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Attractive interest rates
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Lowest processing fee of 0.50%
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Loans for both residential and commercial properties
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Flexible loan repayment options
Factors affecting Federal Bank Loan Against Property
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Factors affecting Federal Bank Loan Against Property
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Factors affecting Federal Bank Loan Against Property
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You professional: if you are a salaried employee, the interest rates will be lower compared to the self-employed or businesspeople.
Start with Federal Bank Loan Against Property in few steps
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
Yes, you can make the part payment of your loan.
Yes, the Federal bank allows top-up loans on existing LAPs.
If your spouse or immediate family members have a high income, you can add them as co-applicants in your LAP. This can help increases your eligibility for the Federal Bank Loan Against Property.
Yes, Federal bank allows loan transfers, which is a hassle-free process.
Federal bank usually takes. 1-3 weeks to approve and disburse the LAP.
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