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Federal Bank India Home Loans Rates

When you’re thinking about buying a home, the first thing that will come to your mind is the interest rate of the loan. You must go for a loan that offers you the cheapest rate. Federal Bank India home loans rates are one of the cheapest rates that are offered by private sector commercial banks in India.

About Federal Bank India home loans rates

  • The Benchmark Prime Lending Rate (BPLR) is 14.25% per annum
  • Maximum Spread is 3.00%
  • Interest applicable for loans upto Rs.2 Lakh (maximum) is 14.25% (per annum) (BPLR)
  • Interest applicable for loans over Rs.2 Lakh (maximum) is 17.25% (per annum)

Federal Bank India home loans rates are subject to adjustments from time to time. For getting updated details on interest rates, you should visit the official website.

Amount of finance for Federal Bank India home loans

The maximum amount of finance available under a Federal Bank India home loan is:

Project cost minus margin conditional on repayment ability.

Project cost may also comprise stamp duty/registration fee and construction expenses of complex gate/fence, kitchen cabinet/permanent fittings and so on conditional on a maximum of 10% of amount of loan.

Mode of repayment

You can repay a Federal Bank home loan through equal monthly installments (EMI) or Graded installments. For Non resident Indians, only EMIs are allowed.

Co-obligant

Spouse shall partcipate as co-obligant. In case income of major daughter/son is also taken into account, they shall also participate as co-obligants. Co-owner of the property (if applicable) shall also participate as co-obligant.

Security for Federal Bank India home loans



Primary security will be mortgage of the property purchased comprising building. For ready-made flat - 100 % interim security until primary security is mortgaged. For construction of flat - If the flat is under a project which is not sanctioned by the bank then 100 % interim security until primary security is mortgaged.

Other conditions

For direct purchase with building - Value of building shall be minimum 60% of the loan amount. The building shall not be older than 10 years. For repayment of expenses, loan may be taken into account within 12 months of purchase/construction of house.

Cushion period for Federal Bank India home loans

For readymade house, the maximum cushion period is 3 months. For other circumstances, the cushion period is 3 months from final disbursal – subject to a maximum of 12 months. For purchase of plot for subsequent construction of house - 24 months to begin construction and another 12 months for finishing of construction (interest rate will be imposed from time to time whenever applied). Equal monthly installments (EMIs) shall commence by the 37th month of securing the loan.



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