60 Lakh Home Loan Federal Bank

The Federal Bank 60 lakh home loan is an appealing credit option. It offers competitive interest rates, customised repayment schedules, minimal processing charges, and easy application procedures. However, it’s important to consider several aspects before applying, particularly with a substantial loan amount of 60 lakhs. Key considerations should include the estimated 60 lakh home loan EMI at Federal Bank, relevant interest rates, necessary paperwork, eligibility criteria, and other associated fees. All these factors are crucial for making well-informed decisions. Continue to read as we provide a comprehensive analysis of this feature-rich home loan option.

60 Lakh Home Loan Federal Bank – Highlights

Federal Bank home loan interest rate for 60 lakhs and other key parameters are as follows:

60 Lakh Home Loan EMI for 10 Years Federal Bank

Let’s examine the estimated Federal Bank housing loan EMI for 60 lakhs with a tenure of 10 years:

60 Lakh Home Loan EMI for 20 Years Federal Bank

Let’s examine the estimated 60 lakh home loan EMI at Federal Bank with a tenure of 20 years:

60 Lakh Federal Bank Home Loan – Fees and Charges

Let’s examine the applicable fees and charges, in addition to the Federal Bank home loan interest rate of 60 lakhs:

60 Lakh Federal Bank Home Loan – Documents Required

Following are the required documents for a Federal Bank 60 lakh home loan:

• Proof of Identity: Aadhaar card, passport, election ID, driving license, PAN card.
• Proof of Income: 3-month salary slips, 2-year IT returns/Form No.16, and 6-month bank account statements.
• Proof of Property: Agreement for sale & construction, allotment letter, title deed, land tax receipt, etc. 

60 Lakh Federal Bank Home Loan – Eligibility Criteria

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

• Residential Status: Eligibility extends to Indian residents, Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs).
• Employment Types: The loan is open to salaried employees, businessmen, professionals, and self-employed individuals.
• Age Limit: Borrowers must be at least 21 and not more than 55 years old at the time of loan maturity.
• Income Requirement: Non-resident Indian (NRI) applicants must have a monthly income of at least ₹50,000. For Indian residents, income requirements may differ at the bank’s discretion.
  CIBIL Score: Applicants should have a positive repayment history and a favourable credit score, ideally 700 or above.