3 Crore Home Loan Federal Bank

Federal Bank offers home loans up to ₹3 Crores, designed to cater to your financial needs whether you are purchasing a new luxury home or villa or renovating an existing one. With flexible tenure options, competitive interest rates, and a straightforward application process, Federal Bank ensures your dream home is within reach. The maximum loan tenure is 30 years, and there is a 3-year holiday period where you only pay the interest, making the repayment process more manageable. The Federal Bank home loan interest rate for 3 crores is competitive, ensuring affordable EMIs for your dream home.

3 Crore Home Loan Federal Bank – Highlights 

Here are some key highlights of the 3 crore home loan from Federal Bank:

3 Crore Home Loan EMI for 10 Years Federal Bank

The annual interest rate for a 3 crore home loan with a tenure of 10 years from Federal Bank is 8.80%. The EMI for this loan amount and tenure is approximately.

3 Crore Home Loan EMI for 20 Years Federal Bank

The annual interest rate for a 3 crore home loan with a tenure of 20 years from Federal Bank remains 8.80%. The EMI for this loan amount and tenure is estimated to be.

3 Crore Federal Bank Home Loan – Fees and Charges 

Federal Bank levies specific fees and charges for a home loan of 3 crores; these include:

3 Crore Federal Bank Home Loan – Documents Required 

To apply for a ₹3 crore home loan from Federal Bank, you will need to submit:

For All Applicants

• Two passport-size photos of the applicant and co-obligant.
• Identity proof: Passport, Voter ID, Driving License, PAN Card, Aadhaar Card.
• Address proof: Passport, Voter ID, Driving License, Aadhaar Card.
• Age proof: Passport, Birth Certificate, Driving License, SSLC or AISSE Certificate.

For Resident Salaried Applicants

• Latest salary certificate/salary slip (3 months).
• Copies of IT returns (2 years) or Form No. 16 (2 years).
• The latest 6 months’ bank account statement evidencing salary credits.

For Resident Self-Employed Applicants

• Proof of business existence and business profile.
• Last 12 months’ bank account statements.
• IT returns for 2 years supported by Balance Sheet and P&L Account for the past two years.

For NRI Applicants

• Certified copy of Passport, Visa, Work Permit, and ID card.
• NRE account statement with any bank for the last year.
• A 6-month salary crediting statement or an embassy/CRO-certified salary certificate supports the latest salary certificate/salary slip (3 months).
• For self-employed: Proof of business existence, business profile, last 12 months’ bank account statements, Balance Sheet, and P&L Account for the past two years.

3 Crore Federal Bank Home Loan – Eligibility Criteria

Federal Bank 3 crore home loan eligibility criteria accommodate various borrower profiles. Here are the details:

For Resident Borrowers

• Available to individuals and close relatives residing in India.
• The maximum tenure for resident customers is 30 years.
• Borrowers should meet the bank’s creditworthiness criteria.

For NRI Borrowers

NRI individuals, including salaried, self-employed, and business persons, are eligible for housing loans. Persons of Indian Origin (PIO) are also eligible, subject to the following conditions:

• The loan must be secured by primary or collateral security of immovable property in India in the name of the PIO.
• The PIO must hold a valid PIO card and a valid foreign passport.
• A close relative (as defined in the Companies Act) residing in India must join as a co-obligant on a loan.
• The borrower’s age should not exceed 55 years at the end of the loan tenure.
• The monthly income should be at least ₹50,000.