30 Lakh Home Loan Federal Bank

Home Loan By Amount
Home Loan By Profession
Home Loan By Property
Home Loan By Other

Federal Bank wants to help you achieve your dream of owning a home! They offer home loans up to Rs. 30 lakh for buying, building, or fixing up a property. Federal Bank makes it easy to find the right loan for you through Urban Money's platform, where you can connect with their experts directly. With Federal Bank, getting a home loan is smooth and hassle-free.

Get in Touch for Home Loan Expert Advice

Connect with our Home Loan Advisor Now!

Personalized Home Loan solutions
Expert guidance
Application assistance
Credit score discussion
Home Loan Interest rate comparison

Full Name

+91Mobile No.

Choose City

I agree to the Terms and Conditions of TUCIBIL and hereby provide explicit consent to share my Credit Information with Urban Money Private Limited.

Table of Content

1. 30 Lakh Home Loan Federal Bank Highlights

2. 30 Lakh Home Loan EMI for 10 Years Federal Bank

3. 30 Lakh Home Loan EMI for 20 Years Federal Bank

4. 30 Lakh Federal Bank Home Loan Fees and Charges

5. 30 Lakh Federal Bank Home Loan Documents Required

6. 30 Lakh Federal Bank Home Loan Eligibility Criteria

Written By

Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal finance.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

30 Lakh Home Loan Federal Bank – Highlights

Feature	Description
Who Are Eligible?	Individuals, Persons of Indian Origin (PIOs), and NRIs with stable incomes and good credit histories are eligible. Close relatives may apply as co-applicants.
Maximum Loan Amount	Up to Rs. 30 lakh, depending on the borrower’s income and the property value.
Loan Tenure	Up to 30 years for resident customers and up to 20 years for NRI customers.
Margin	Typically, up to 85% of the property cost, meaning the borrower needs to contribute at least 15% of the property price.
Upfront Fee	Processing fee up to 0.50% of the loan amount, with minimum and maximum fees specified (e.g., Rs. 10,000 to Rs. 200,000).
Collateral/Security	The property to be purchased serves as collateral.

30 Lakh Home Loan EMI for 10 Years Federal Bank

Loan Amount	Interest Rate	Number of EMIs	EMI Amount	Total Amount Paid	Total Interest Paid
Rs. 30,00,000	8.80% per annum	120 (10 years)	Rs. 37,679	Rs. 45,21,453	Rs. 15,21,453

30 Lakh Home Loan EMI for 20 Years Federal Bank

Loan Amount	Interest Rate	Number of EMIs	EMI Amount	Total Amount Paid	Total Interest Paid
Rs. 30,00,000	8.80% per annum	240 (20 years)	Rs. 26,607	Rs. 63,85,706	Rs. 33,85,706

30 Lakh Federal Bank Home Loan – Fees and Charges

Fee Type	Description
Processing Fee	Up to 0.50% of the loan amount, with a minimum of Rs. 10,000 and a maximum of Rs. 200,000.
Prepayment Charges	There are no charges for floating-rate loans to individuals. Fixed-rate loans may incur up to 3%.
Late Payment Penalty	Generally, 2% per month on the overdue amount.
Loan Conversion Charges	Charges for switching from fixed to floating rates or vice versa, around 0.25% of outstanding.
CERSAI Registration Fee	Rs. 50 – Rs. 100, depending on the loan amount for registration or modification.

30 Lakh Federal Bank Home Loan – Documents Required

To apply for a 30 lakh home loan from Federal Bank, you will need to provide the following documents:

KYC Documents:
- Two passport-size photographs of the applicant and co-applicant.
- Identity Proof: Valid Passport, Voter ID, Driving License, PAN Card, Aadhar Card.
- Address Proof: Same as Identity Proof.
- Age Proof: Passport, Birth Certificate, Driving License, SSLC, or AISSE Certificate.
Income Proof:
- For Salaried Individuals: Latest Salary Slips (last 3 months), Salary Certificate, IT Returns or Form 16 for the last 2 years, and bank statements for the last 6 months showing salary credits.
- For Self-Employed Individuals: Proof of business existence, Business Profile, IT returns for the last 2 years with Balance Sheet and Profit & Loss account, last 12 months’ bank account statements, and Tax paid challans wherever applicable.
Property Related Documents:
- Agreement for Sale & Construction.
- An allotment letter, or NOC, from the builder is required to mortgage the property.
- Title Deed, Prior Deed, if applicable.
- Encumbrance Certificate for the last 13 years minimum.
- Possession Certificate, if available.
- Approved Plan and Building Permit from the competent authority.
- NOC from Environmental, Pollution Control, Fire Safety, and other relevant authorities, if applicable.
Additional Documents for NRIs:
- Passport and Visa copies.
- Overseas Employment Proof.
- NRE/NRO bank account statements for the specified period.
Other Legal and Financial Documents:
- A Tripartite Agreement is needed before loan disbursal if the property is under construction.
- Location sketch of the property.
- Latest Land Tax receipt.

30 Lakh Federal Bank Home Loan – Eligibility Criteria

For a 30 lakh home loan from Federal Bank, the eligibility criteria include:

Earn enough to afford monthly payments (EMIs).
Show a good credit history with a high score.
Be within working age (21-60 for salaried, 65 for self-employed). Have a steady job/business for at least a few years.
Get a loan for up to 85% of the property value (you’ll need some down payment).
Choose a property with clear ownership and bank approval.
Open to residents and some non-residents (NRIs) with valid documents.

Frequently Asked Questions (FAQs)

What is the EMI for a 30 Lakh Home Loan for 20 years in Federal Bank?

With an interest rate starting at 8.80% per annum, the EMI for a Rs. 30 lakh loan over 20 years would be approximately Rs. 26,607 monthly.

Who is eligible for a 30 Lakh Home loan in Federal Bank?

Individuals and Persons of Indian Origin (PIO) with reliable incomes, good credit histories, and property in their name in India are eligible for such a loan.

What is the monthly interest rate on a 30 lakh home loan in Federal Bank?

The monthly interest rate corresponding to an annual rate of 8.80% would be approximately 0.73%.

Quick Links

Loan Offers By Federal Bank's

Home Loan by Nationalized Bank

Home Loan Calculators

Federal Bank Calculators