{"id":1358,"date":"2018-02-20T07:01:42","date_gmt":"2018-02-20T01:31:42","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=1358"},"modified":"2019-09-25T14:00:44","modified_gmt":"2019-09-25T08:30:44","slug":"federal-bank-car-loan","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/federal-bank-car-loan\/","title":{"rendered":"Federal Bank Car Loan"},"content":{"rendered":"<p>Federal Bank Limited is a noteworthy Indian business bank in the private division, headquartered at Aluva, Kochi, Kerala. It is the fourth biggest bank in India as far as capital base. Fund should not be a red flag when your fantasy auto opens entryway for you. Commute home with Federal Car Loan. To know more, take after some basic advances offered beneath to get appealing arrangements.<\/p>\n<div class=\"row btm-pad\">\n<div class=\"col-md-12\">\n<h2 class=\"tcenter\">Documentation needed to apply for a Federal Bank Car Loan<\/h2>\n<\/div>\n<\/div>\n<div class=\"row btm-pad\">\n<div class=\"col-md-12\">\n<ul class=\"list-group\">\n<li class=\"list-group-item list-group-blue\">Residence proof<\/li>\n<li class=\"list-group-item list-group-orange\">Signed application form with photograph<\/li>\n<li class=\"list-group-item list-group-green\">Photo ID and age proof<\/li>\n<li class=\"list-group-item list-group-meroon\">Last 6 months bank statement<\/li>\n<li class=\"list-group-item list-group-blue\">Documentation for salaried applicants:\n<ul>\n<li>Last 3 months salary \u2013 slips<\/li>\n<li>Form 16 or Income Tax Returns<\/li>\n<\/ul>\n<\/li>\n<li class=\"list-group-item list-group-dkgreen\">Documentation for self-employed applicants:\n<ul>\n<li>Last 3 years Income Tax Returns with computation of Income<\/li>\n<li>Last 3 years CA Certified \/ Audited Balance Sheet and Profit &amp; Loss Account<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<div class=\"row btm-pad\">\n<div class=\"col-md-12\">\n<h2 class=\"tcenter\">Federal Bank Car Loan Interest Rates<\/h2>\n<\/div>\n<\/div>\n<div class=\"row btm-pad\">\n<div class=\"col-md-12 ir-section\">\n<div class=\"row product-hl-table\">\n<div class=\"col-md-12 product-hl-table-head\">Federal Bank Car Loan Details<\/div>\n<table class=\"table table-curved\">\n<tbody>\n<tr>\n<td>Interest Rate (Monthly reducing balance)<\/td>\n<td>9.75%<\/td>\n<\/tr>\n<tr>\n<td>Processing Fees<\/td>\n<td>Up to Rs.5L \u2013 Rs.1500\/-, Above Rs.5L \u2013 Rs.2500\/<\/td>\n<\/tr>\n<tr>\n<td>Loan Tenure<\/td>\n<td>1 year to 5 years<\/td>\n<\/tr>\n<tr>\n<td>Pre Closure Charges<\/td>\n<td>2% on the principal outstanding<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Features of Federal Bank Car Loans<\/h2>\n<p>As with any competent loaner, <a href=\"https:\/\/www.antworksmoney.com\/blog\/federal-bank-net-banking\/\">Federal<\/a> Bank has loaded its car loan product with sufficient attractive features to reign in your undivided attention-<\/p>\n<ol>\n<li>Both resident Indians and Corporates can apply.<\/li>\n<li>Low EMIs alongside very friendly interest rates.<\/li>\n<li>Long repayment tenure of upto 7 years for salaried individuals.<\/li>\n<li>Hassle free, transparent and fast loan application, processing and disbursement cycles.<\/li>\n<li>Loan applies for both new and used four wheelers.<\/li>\n<li>Limited documentation and easy terms and conditions.<\/li>\n<li>Spouse\u2019s income can be clubbed with the main applicant\u2019s to improve eligibility.<\/li>\n<\/ol>\n<h2>Federal Bank Car Loan Interest Rates<\/h2>\n<p>Offering one of the most competitive and customer friendly interest rate when it comes to car loans is one of the prime reasons for the enduring popularity of car loans from Federal Bank. Currently, the applicable interest rates are as follows-<\/p>\n<table class=\"table table-curved\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td><strong>Interest Rate Type.<\/strong><\/td>\n<td><strong>Condition.<\/strong><\/td>\n<td><strong>Interest Rate.<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Floating<\/td>\n<td>Personal Car Loan<\/td>\n<td>10.90% to 12.25%<\/td>\n<\/tr>\n<tr>\n<td>Fixed<\/td>\n<td>Upto 48 months<\/td>\n<td>10.40% to 11.40%<\/td>\n<\/tr>\n<tr>\n<td>Fixed<\/td>\n<td>Above 48 months<\/td>\n<td>10.30% to 11.30%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2>Eligibility Criteria for Federal Bank Car Loan<\/h2>\n<p>An applicant, seeking the car loan offering from Federal Bank must satisfy the following conditions to qualify for this loan,<\/p>\n<ol>\n<li>The applicant must be a resident Indian or a documented NRI.<\/li>\n<li>He\/she must not be younger than 21 years or older than 65 years at loan maturity.<\/li>\n<li>Both individuals and corporates can apply.<\/li>\n<li>The applicant must take home a minimum salary of Rs.7,500 after meeting all his loan EMI commitments.<\/li>\n<li>If the applicant\u2019s own numbers don\u2019t match up for eligibility, his\/her spouse\u2019s income can also be clubbed into the equation. Also, income from agriculture\/rental undertakings can also be clubbed with the regular income.<\/li>\n<\/ol>\n<h2>Documentation<\/h2>\n<p>At the time of loan application, the following documents must be supplied for verification,<\/p>\n<ol>Completed loan application form, with signatures of all borrowers.<\/p>\n<li>Identity proof (any document that displays the applicant\u2019s identity and is issued by the State\/Central government)<\/li>\n<li>Address Proof (any document that displays the applicant\u2019s permanent address and is issued by the State\/Central government)<\/li>\n<li>Proof of employment or business ownership<\/li>\n<li>For salaried individuals- 1) ITR\/Form-16 accounting for two years, 2) Last 3 months salary slips, 3) Last 6 months bank statement<\/li>\n<li>For Businessmen or Self employed- 1) Audited balance sheet, 2) Profit and Loss statement, 3) ITR copies<\/li>\n<li>For NRIs- 1) Salary certificates, 2) Proof of employment (attested by embassy), 3) Balance sheet (if owning a business),<\/li>\n<li>NRI account statement for the previous two years, 5) External account statement for the previous six months<\/li>\n<li>Any other documents as and when required by the bank<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Federal Bank Limited is a noteworthy Indian business bank in the private division, headquartered at Aluva, Kochi, Kerala. It is the fourth biggest bank in India as far as capital base. Fund should not be a red flag when your fantasy auto opens entryway for you. Commute home with Federal Car Loan. To know more, &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/federal-bank-car-loan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Federal Bank Car Loan&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1358","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Federal Bank Car Loan - Antworks Money<\/title>\r\n<meta name=\"description\" content=\"Federal Bank Limited is a noteworthy Indian business bank in the private division, headquartered at Aluva, Kochi, Kerala...\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/federal-bank-car-loan\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Federal Bank Car Loan - 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