85 Lakh Federal Bank Home Loan

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

Federal Bank offers an array of home loan solutions to meet the diverse financial needs of its customers. Among these, the ₹85 lakh home loan stands out as a robust option for individuals seeking substantial funding for purchasing, constructing, or renovating a home. This article delves into the key highlights, EMI calculations, fees and charges, required documentation, and eligibility criteria for Federal Bank's ₹85 lakh home loan. Whether you are a resident or an NRI, understanding these details will help you make an informed decision and effectively manage your home loan. Read on to explore the benefits and requirements of this home loan offering from Federal Bank.

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. 85 Lakh Home Loan Federal Bank Highlights

2. 85 Lakh Home Loan EMI for 10 Years Federal Bank

3. 85 Lakh Home Loan EMI for 20 Years Federal Bank

4. 85 Lakh Federal Bank Home Loan Fees and Charges

5. 85 Lakh Federal Bank Home Loan Documents Required

6. 85 Lakh Federal Bank Home Loan Eligibility Criteria

Written By

Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

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.

85 Lakh Home Loan Federal Bank – Highlights

Below are the key highlights of Federal Bank’s ₹85 lakh home loan:

Feature	Details
Loan Amount	₹85 lakhs and above
Tenure	Up to 30 years
Interest Rate	8.80% p.a. onwards
Holiday Period	3 years (interest only)

85 Lakh Home Loan EMI for 10 Years Federal Bank

Federal Bank offers an ₹85 lakh home loan with a 10-year repayment period. Based on the current interest rate of 8.80% per annum, the monthly EMI would be approximately:

Principal Amount	Interest Rate	Tenure	EMI
₹85 Lakhs	8.80% p.a.	10 years	₹1,06,179

85 Lakh Home Loan EMI for 20 Years Federal Bank

For those opting for a 20-year tenure, an ₹85 lakh home loan from Federal Bank, with an 8.80% annual interest rate, would have an estimated monthly EMI of:

Principal Amount	Interest Rate	Tenure	EMI
₹85 Lakhs	8.80% p.a.	20 years	₹75,408

85 Lakh Federal Bank Home Loan – Fees and Charges

When applying for an ₹85 lakh home loan from Federal Bank, you will be subject to various fees and charges, including:

Fee Type	Details
Processing Fees	0.50% of the limit sanctioned
Late Payment Penalty	4% p.a. for the amount due
Overdraft Penalty	4% p.a. on the overdue portion

85 Lakh Federal Bank Home Loan – Documents Required

Applicants for an ₹85 lakh home loan from Federal Bank need to submit a variety of documents, including:

Document Type	Required Documents
Identity Proof	Aadhaar, Passport, Voter ID
Address Proof	Utility bills, Rent Agreement
Income Proof	Salary slips, IT returns, Form 16
Bank Statements	Last 6 months’ statements
Property Documents	Sale deed, Title deed, NOC
Photographs	Recent passport-sized photographs

For NRI applicants, the required documents are:

Document Type	Required Documents
Identity Proof	Certified copy of Passport, Visa, Work Permit, and ID card
Bank Statements	NRE account statement with any bank for the last year
Salary Evidence	6-month salary crediting statement, or Embassy/CRO-certified salary certificate and Latest salary certificate/salary slip (3 months)

85 Lakh Federal Bank Home Loan – Eligibility Criteria

Federal Bank ₹85 lakh home loan eligibility criteria are given below:

Indian Residents, NRIs and Persons of Indian Origin are eligible for the loan.
Applicants must meet the bank’s credit criteria.
The PIOs must have a foreign passport and PIO card.
The age must be 55 years at the end of the loan tenure.
₹50,000 monthly income.

Frequently Asked Questions (FAQs)

What is the EMI for an 85 lakh Home Loan for 20 years in Federal Bank?

The EMI for an ₹85 lakh home loan with a 20-year tenure at Federal Bank, considering an 8.80% annual interest rate, is approximately ₹75,408.

Who is eligible for an 85 lakh home loan from the Federal Bank?

To apply for an ₹85 lakh home loan from Federal Bank, applicants need to have a stable income, good credit history, and meet the bank's eligibility requirements.

What is the monthly interest rate of an 85 lakh home loan at Federal Bank?

The monthly interest rate for an ₹85 lakh home loan from Federal Bank, based on an 8.80% annual interest rate, is roughly 0.73% per month.

Quick Links

Loan Offers By Federal Bank's

Home Loan by Nationalized Bank

Home Loan Calculators

Federal Bank Calculators