Personal Loan
Purpose
** Personal needs of individuals

http://www.federal-bank.com/Personal...sonalLoan.aspx

Loan Amount
** Up to Rs 2 Lakhs

Eligibility
** Salaried group (permanent confirmed employees with a future service of minimum one year)
** Basic Pay not less than Rs 2,000 Total deduction towards loans including the present loan should not exceed 50 % of gross salary.
** If husband and wife are salaried and both join the documents, their combine income can be considered for fixing loan amount. For others annual income should not be less than Rs 1 Lakh and minimum net worth should be double the loan amount.
** Minimum 100% collateral security is required.
** Loans to NRIs are to be covered by collateral securities in the name of borrowers it self.

Quantum of finance
** 6 times monthly salary or 50 % of annual income of previous year

Margin
**No margin is required.

Period
** Up to Rs 50,000 - 30 months
** Above Rs 50,000 - 60 months

Rates & Interest
** Please refer rates & charges page

Repayment
** Equal Monthly Installments (EMI )

Proof of income
** Salaried residents – Salary Certificate and wherever applicable, supported by Form No.16 / IT returns / Tax paid challans.
** Employees of State / Central Government / Public Sector Undertakings - Where there is difficulty in getting salary certificate, salary slip will be sufficient.
** Salaried NRIs - Latest Salary slip supported by remittance in NRE account with us & Copy of Identity card issued by Employer.
** Others - Previous two financial year's IT returns or Audited Balance Sheet & Profit and Loss Accounts of the individual / firm / business concern.

Co-obligants & Security
** For residents, spouse should join as co-obligant. Collateral security is required to cover the loan amount
** For non-residents, spouse should join as co-obligant and Collateral security in the name of NRI borrowers is required to cover the loan amount

Contact Us:
The Federal Bank Limited
Jawaharlal Nehru Rd, Vadapalani Chennai, Tamil Nadu