Federal Bank Home Loan

• Purpose: Federal Bank Housing Loan is a regular home loan facility offered for the purpose of home construction, purchasing land and home construction thereon, renovating existing homes, altering/repairing existing houses, and extending existing home properties. The bank also offers home loans for reimbursing the debt obtained for the purchase of a house, construction of a new house, furnishing of the existing house, plot purchase, home loan balance transfer and supplementary housing loans for employees of well-established companies.
• Tenure: Up to 30 years (Up to 20 years for NRI applicants)

• Purpose: Federal Bank offers Plot Purchase Loans to its applicants for purchasing plots for building residential property thereon.
• Tenure: Up to 5 years

• Purpose: Federal Bank House Warming Loan is a top-up facility offered to home loan borrowers (both existing and new) of Federal Bank for meeting the personal expenses related to house warming.
• Tenure: Up to 5 years
• Interest Rate: Existing Housing Loan Rate + 2%

• The maximum age of the loan applicant should be 55 years at the time of loan tenure.
• Minimum monthly income of the applicant should be Rs 50,000.

• The PIO applying for a home loan in India should hold a valid PIO card along with a valid foreign passport.
• A close relative of the applicant living in India should act as a co-applicant to the home loan.
• The home loan is covered by primary or collateral security of immovable property in India in the name of PIO.

• Passport-size photographs of the applicant and co-applicant
• ID Proof/Address Proof: PAN, Aadhaar, Driving License, Passport, Voter ID
• Proof of Age: Birth Certificate, Passport, Driving License, SSLC/AISSE Certificate
• Passport copy, VISA, ID Card, Work Permit (for NRI applicants)

• Salary Slip/Salary Certificate for the last 3 months
• ITR Copy/Form 16 for the past 2 years
• Bank Account Statement with salary credits for the last 6 months

• Business existence and business profile proof
• Bank account statement for the last 12 months
• ITR for 2 years with balance sheet, P&L account for last 2 years
• Tax paid challans
• ITR for the past 2 years along with tax calculation sheet and tax paid challans

• Last 1 year NRE account statement with any bank
• Embassy or CRO certified salary certificate/last 3 months salary slip along with bank account statement for last 6 months showing salary credits
• NRE account statement for 2 years or resident account of parents/spouse with Federal Bank/other bank in which remittance is made

• Business existence proof
• Evidence of business profile
• Bank statement for the last 12 months
• Balance Sheet, P&L account statement for the past 2 years
• Tax Paid Challans
• 2 years NRE account statement or resident account statement of parents/spouse with Federal Bank/other banks in which repayment is done

• Sale and construction agreement
• Tripartite agreement (to be obtained before loan disbursal)
• Allotment letter/NOC from builder to mortgage the flat

• Sale and construction agreement
• Title deed
• Allotment letter/NOC from builder to mortgage the flat
• Possession certificate
• Sketch of the location
• EC for 13 years
• Prior deed
• Latest receipt of land tax
• Tripartite agreement
• NOC from Environmental Department and Pollution Control Board
• Approval or permission from civic authorities
• Approved plan and building permit
• Fire and Safety Clearance
• NOC from the aviation department and navy-army
• Certificate from Coastal Zone Management Authority

For Acquisition of Ready Built House

For Home Construction on already-owned land

For Repair/Renovation/Extension of existing house, flat or villa

Know more about the documents required for a home loan during the loan application