55 Lakh Home Loan Federal Bank

Real estate prices in India have been rising, making it difficult for many to purchase a home without external financial support. The Federal Bank's 55 lakh home loan can be ideal as it features highly competitive rates and terms. The bank offers more personalised repayment plans, minimal documentation, and an online application process, making it a borrower-friendly credit option. However, it is advisable to meticulously examine all the aspects of your financial commitment before initiating your loan application. These can include the expected 55 lakh home loan EMI from the Federal Bank, pertinent interest rates, and other associated fees. Keep scrolling for more detailed information.

55 Lakh Home Loan Federal Bank – Highlights

The Federal Bank home loan interest rate for 55 lakh and other key parameters are as follows:

55 Lakh Home Loan EMI for 10 years Federal Bank 

55 lakh home loan EMI for 10 years with Federal Bank is as follows:

55 Lakh Home Loan EMI for 20 years Federal Bank 

55 lakh home loan EMI with Federal Bank for 20 years is as follows:

55 Lakh Federal Bank Home Loan – Fees and Charges 

Let’s examine the applicable fees and charges of the Federal Bank 55 lakh home loan:

55 Lakh Federal Bank Home Loan – Documents Required

The following are the required documents for the Federal Bank 55 lakh home loan:

• KYC Documents: Aadhaar card, PAN card, passport, voter ID card, etc.
• Address Documents: Utility bills, voter ID card, PAN card, passport, etc.
• Income Documents: Last 3-month pay slips, 2-year IT returns/Form No.16, 6-month bank account statement, or proof of business existence (Applicable to self-employed individuals).
• Property Documents: Agreement for sale & construction, allotment letter, a title deed, land tax receipt, possession certificate, etc. 

55 Lakh Federal Bank Home Loan – Eligibility Criteria 

Here are the applicable criteria for a 55 lakh home loan eligibility from Federal Bank:

• Age Limit: Your age must be below 55 years at the end of the loan tenure.
• Employment Type: You must be a salaried, self-employed, or a business person. 
• Income Requirement: Your monthly income should be ₹50,000 and above.
• Credit Score: You must have a good credit score, preferably 700 or above.
• Residential Status: You must be a Resident Indian (RI) or Non-resident Indian (NRI).