Federal Bank Loan Against Property

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All About Federal Bank Loan Against Property

Apply For Loan Against Property

Purpose: Federal Bank Loan Against Property

Personal needs of lawful nature.

Loan Amount: Federal Bank Loan Against Property

Rs 2 Lakhs to Rs 150 Lakhs

Federal Bank Loan Against Property

Eligibility: Federal Bank Loan Against Property

Monthly-installments for the payment of  loan, including the installments for proposed loan. It  should not be more than 50% of ‘gross-salary’ or re-payment towards loan should not be greater than 50 % of the last-year’s annual-income. ‘Spouse’s income’ can be clubbed.

Margin: 50% of security value

Period: Maximum 60 months

Federal Bank Loan Against Property Interest Rates

Mortgage loan

0.50% of the limit

sanctioned with a

minimum of  1000/-.

50% of Normal PF

2% on the balance outstanding or DP

whichever is higher for limits above Rs.2L.

NA

NA

00

2% of

overdue

amount

00

Repayment: “Equated Monthly Installments”

Co-obligant: Spouse must join as his/her co-obligant but, In the case of ‘spinsters’ and ‘bachelors’, their parents would join as co-obligant.

Security: Federal Bank Loan Against Property: ‘Un-encumbered property’ in the name of borrower or their close relatives but in case of NRIs, their property should be in the name of ‘NRI borrower’.

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