The Federal Bank is a leading private sector Indian commercial bank established in the year 1945. Initially, the Bank was known as the Travancore Federal Bank, but with the passage of time the Bank gradually transformed into a full-fledged bank under the guidance of its Founder, Mr. K P Hormis. In the year 1947, the Bank was officially christened the Federal Bank Limited. Being one of the oldest Banks of India, the history of Federal Bank dates back to the pre-independence era. The Bank has witnessed some major advancement and has become one of the most stable and leading private banks of the country. As on 19 October 2015, Federal Bank has a network of 1251 branches situated across 24 states and 1526 ATMs spread out throughout the country.
In terms of its capital base, Federal Bank limited is the fourth largest bank in the country. A major Indian commercial bank in the private sector, Federal Bank is a “customer-centric” organization, with its headquarters located at Aluva, Kochi, Kerala, providing a number of financial services to all its customers.
Features of Federal Bank car loan
Before applying for the Federal Bank car loan, make sure you check out the key features.
- Both corporates and Indian residents can apply.
- Competitive interest rates and hence low EMIs.
- Car loans available for old and new cars.
- Repayment tenures of 5 years for old vehicles and 7 years for new vehicles .
- Fast application processing and swift disbursements.
- Minimal documentation.
- Eligibility can be improved by clubbing the spouse’s income with that of the applicant’s.
- Quick car loan disbursals