45 Lakh Home Loan Federal Bank

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Are you considering a cosy apartment? Federal Bank's 45 lakh home loan can be your perfect financial partner. This program caters to individuals seeking manageable loans for smaller properties. Offering competitive interest rates, flexible repayment options, and minimal fees makes owning a dream home achievable. Whether you are a first-time homebuyer or looking for a more manageable option, this guide explores the key features and eligibility criteria of Federal Bank's 45 lakh home loan, empowering you to take that important step towards homeownership.

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Table of Content

1. 45 lakh Home Loan Federal Bank Highlights

2. 45 lakh home loan EMI for 10 years Federal Bank

3. 45 lakh home loan EMI for 20 years Federal Bank

4. 45 lakh Federal Bank home loan Fees and Charges

5. 45 lakh Federal Bank home loan Documents Required

6. 45 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

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

45 lakh Home Loan Federal Bank – Highlights

Federal Bank 45 lakh home loan: Key Features

Feature	Details
Loan Amount	Up to ₹70 lakh
Interest Rates	Starting from 8.80% (subject to credit profile)
Repayment Tenure	Up to 360 months (30 years)
Processing Fees	Low (specific fee details available on inquiry)
Pre-closure Charges	No charges

45 lakh home loan EMI for 10 years Federal Bank

The monthly instalment for a Federal Bank 45 lakh home loan across a 10-year term amounts to

Loan Amount	Interest Rate	Loan Tenure	EMI
45 lakh	8.80%	10 Years	₹56,862 per month

45 lakh home loan EMI for 20 years Federal Bank

The following are the details of the EMI payable for a Federal Bank 45 lakh home loan with a tenure of 20 years.

Loan Amount	Interest Rate	Loan Tenure	EMI
45 lakh	8.80%	20 Years	₹39,390 per month

45 lakh Federal Bank home loan – Fees and Charges

Federal Bank offers appealing interest rates for its ₹45 lakh home loan, yet borrowers should be aware of accompanying expenses like processing charges.

Particulars	Charges/Fees
Processing Fee	0.50% of the loan amount + GST
Part-Payment/Pre-closure/Foreclosure Fees	None

45 lakh Federal Bank home loan – Documents Required

Here are the essential documents required to apply for a Federal Bank 45 lakh home loan:

Standard KYC Documents: These include proof of identity, such as a PAN card or Aadhaar card, and proof of address, such as utility bills or a voter ID.
Income Proof: For salaried individuals, you’ll need to provide salary slips, while self-employed individuals should furnish tax returns.
Property Documents: Ensure you have all the necessary paperwork for the property you intend to purchase or construct.
Additional Documents may be required depending on the specific loan scheme and bank policies. Stay prepared to furnish any extra documents requested by Federal Bank.

45 lakh Federal Bank home loan – Eligibility Criteria

To avail of a Federal Bank 45 lakh home loan, one must meet the following eligibility criteria:

Eligible Federal Bank home loan applicants include resident Indian citizens and non-resident Indians (NRIs).
Applicants should ideally be under 55 years old at the loan’s maturity.
A stable income source is important.
Maintaining a credit score above 750 is generally advisable.
The property acquired or constructed with the loan serves as collateral.

Frequently Asked Questions (FAQs)

What is the EMI for a 45 lakh Home Loan for 20 years in Federal Bank?

The approximate EMI for a 45 lakh Home Loan for 20 years at an interest rate of 8.80% in Federal Bank is approximately ₹39,390 per month.

Who is eligible for a 45 lakh home loan from the Federal Bank?

Eligibility for a 45 lakh home loan from Federal Bank typically includes resident Indian citizens and NRIs with stable income sources who meet age and credit score criteria.

What is the monthly interest rate of a 45 lakh home loan in Federal Bank?

The monthly interest rate for a 45 lakh home loan in Federal Bank starts from 8.8% per annum.

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