Federal Bank Home Loan for Women & Housewife

Federal Bank Home Loan for Women is an excellent option for salaried women and housewives who are looking to purchase their dream homes. With competitive interest rates starting from just 8.80% p.a. and a loan amount of up to 85% of the property value, eligible applicants can easily secure their dream homes. The bank also offers a flexible EMI payment option with a repayment tenure of up to 30 years, making it easier for customers to manage their finances. Additionally, the bank's quick processing time and easy documentation process make it a hassle-free experience for all.

Federal Bank Home Loan for Women and housewife- Highlights

Federal Bank Home Loan Benefits for Ladies

Here are the key Federal Bank home loan benefits for ladies.

• Different Schemes: Federal Bank offers home loan schemes that extend beyond funding your home purchase/construction.
• Flexibility: Federal Bank offers home loans with the option of switching between fixed and floating interest rates without any restrictions.
• Flexible Repayment: Borrowers can pay only for the loan interest in the construction stage with the pre-EMI option for new home constructions.
• Zero Penalties on Prepayments: Borrowers can pre-pay their floating-rate home loans at no extra charges.
• Choice of the co-applicant: Applicants can apply with a family member to boost loan approval chances.

Federal Bank Home Loan for Housewife / Women- Fees and Charges 

• 0.50% is the processing fee up to Rs. 2,00,000 as the maximum, depending on the loan amount
• Zero prepayment for floating-rate home loans and up to 3% of the outstanding balance/borrowing limit, whichever is more
• EMI payment delay charges- 2% for every EMI that is delayed
• Charge for switching loan interest rates- 0.25% of the DP or the loan balance 

Federal Bank Home Loan for Housewife / Women- Documents Required

Some of the documents to apply for aFederal Bank home loan for women and housewives include the following: 

• PAN and Aadhar
• Bank statement for last six months
• KYC details 
• ITR for the last two years/corresponding income documents like Form 16 or salary slips for the last three months 
• Business owners will require profit and loss computation for the last two years
• NRIs will require visas, passport copies, work permits, and identity cards

Federal Bank Home Loan for Housewife / Women- Eligibility Criteria

The eligibility guidelines for the Federal Bank home loan for women include the following aspects: 

• No age limit specifically and NRIs have an age limit up to 55 years
• No specific credit score requirement although a higher score is recommended
• Two years of work experience in private/Government sector or alternatively business ownership/co-ownership proof 

Types of Federal Bank Home Loan for Women 

Federal Bank housing loans for women come in three types. These include the following: 

• Federal Bank Home Loan: The Federal Bank Housing Loan is a dynamic option for various usage purposes, i.e. construction, renovation/repairs, or buying new homes. The amounts may increase to Rs. 15 crore with 85% LTV ratio. The Federal Bank home loan interest rate for women is anywhere between 8.80 and 10.25% per annum. 
• Federal Bank Loan for Purchasing Residential Plot: The bank provides a choice of up to Rs. 25 lakh for buying residential or non-agricultural plots to build any property. There is a flexible repayment tenure up to 5 years, while the amount may take care of up to 60% of the overall land cost.  
• Federal Bank House Warming Loan: If you are a Federal Bank customer, then you can get funds to cover the costs of your housewarming ceremony too. There is a top-up provision up to Rs. 2 lakh that you can use with a tenure going up to 5 years.