10 Lakh Home Loan Federal Bank

Starting your journey towards the perfect home begins with choosing a suitable home loan. Federal Bank's 10 lakh home loan stands out due to its attractive interest rates, versatile repayment options, minimal processing charges, and no pre-closure charges, collectively making it an appealing choice for budget-conscious buyers. However, careful deliberation is crucial before making a final decision.

Urban Money provides a thorough analysis of this notable financing option. Our comprehensive review includes insights on the estimated 10 lakh home loan EMI with Federal Bank, current interest rates, required eligibility, necessary paperwork, and more. Let's scroll down to learn more.

10 Lakh Home Loan Federal Bank – Highlights

Following are the Federal Bank home loan interest rate for 10 lakh and other key parameters:

10 Lakh Home Loan EMI for 10 Years Federal Bank

Following are the estimated Federal Bank housing loan EMI for 10 lakh with a tenure of 10 years:

10 Lakh Home Loan EMI for 20 Years Federal Bank

Following are the estimated 10 lakh home loan EMI at Federal Bank with a tenure of 20 years:

10 Lakh Federal Bank Home Loan – Fees and Charges

In addition to the Federal Bank home loan interest rate of 10 lakh, there are several fees and charges associated with this loan, such as:

10 Lakh Federal Bank Home Loan – Documents Required

Following are the required documents for  the Federal Bank 10 lakh home loan:

• KYC Documents: Aadhaar card, passport, election ID, driving license, PAN card. 
• Income Documents: 3-month salary slips, 2-year IT returns/Form No.16, and 6-month bank account statements.  
• Property Documents: Agreement for sale & construction, allotment letter, title deed, land tax receipt, etc.
• Additional Documents: A duly filled application form and two passport-size photos of each applicant and the co-applicants.

10 Lakh Federal Bank Home Loan – Eligibility Criteria

10 lakh home loan eligibility at Federal Bank is as follows: 

• Age Limit: The borrower should be between 21 and 55 years old.
• Employment Status: Salaried employees, businessmen, professionals, and self-employed individuals can apply.
• Income Requirement: NRI applicants must have a monthly income of at least ₹50,000, whereas the income criteria for Indian residents may vary according to the bank’s discretion.
• CIBIL Score: Applicants must have a positive repayment history and a good credit score, preferably 700 or above.
• Nationality: Indian residents, Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs) are eligible.