Federal Bank - 12.60% for Loan Against Property - Loan Against Commercial Property

Federal Bank Loan Against Property:

Federal Bank is one of the largest private bank in the country that offers the lowest rates on loan against property.

Currently the bank offers the loans starting from 12.60% p.a. onwards* with the quick approval and easy process.

The bank offers the special features and the attractive interest rate for different income and occupation groups.

Interest Rate	12.60% p.a. onwards*
Loan tenure	Up to 15 years
Loan amount	Up to Rs 5 Crores
Minimum age	24 years
Processing fee	1% of the limit sanctioned with a minimum of Rs.3000/-

 

Federal Bank offers Laon against property(LAP)for businesses at an attractive interest rate starting from 10.10% per annum.

Availing a LAP from Federal Bank provides the flexibility to use the loan amount for various purposes 

Taking a loan from Federal Bank has the following benefits:

1. Quick loan processing and approval

2. Residents, Non-residents, PIOs, everyone can apply for the loan

3. Loan can be availed as Term Loan as well as Overdraft

4. Minimal paperwork required

5. No stipulation of financial parameters

6. Flexible repayment options

 

Federal Bank Loan against Property:

Apply:

If you want to get a loan against property from Federal Bank, the process to get the loan is fairly easy.

All you need to do is to apply for a home loan at Apnarupee.com.

We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, ICICI, etc.

Your loan application will be processed and Federal Bank (Loan against Property) Loans representatives will get in touch to begin the process of getting a home loan.

You will also be assisted by Apnarupee.com housing loan advisor to ensure that all the lending process is smooth, quick and you get the best loan against property from Federal Bank.

You can also do a comparison of Federal Bank Loan against property rates and other charges using the Apnarupee.com comparison tool.

Once you apply online, you can check the real-time status of your loan against property in your customer account section of Apnarupee.com.

 

Factors Affecting Federal Bank Loan against Property Interest Rates:

Loan amount: 

Property loan rates in Federal Bank depend upon the loan amount you apply.

 

Your Net Monthly Income: 

Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.

 

Type of loan opted for: 

Federal Bank offers differential rates for customer’s different profiles and also fixed and floating rate schemes.

Loan against property interest rates may be higher or lower for special loan products.

 

Type of property: 

Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.

 

Your profession: 

Federal Bank may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman.

A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage

loan for his personal purposes.

 

Federal Bank Loan Against Property Documents Required:

For Self-Employed:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 3 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership

deed and proof of business existence and business profile

 

For Salaried employee:

1. Filled up loan application form

2. 2 Passport Size Photo

3. ITR of last 2 years

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport

6. Income Documents – 6 months’ pay slip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

 

Property documents:

1. Registered Sale Deed/ Conveyance/ Lease Deed

2. Past Sale Deeds Chain (each transaction in respect of this property since first allotment

3. Latest House Tax Return/ Receipt

4. Approved Building Plan from Municipal Corporation

 

Federal Bank Loan against Property: Offers & Schemes:

1.Property Power:

 Purpose:

This loan can be availed against the property for the personal, business, and family’s financial needs.

Take your business to new heights, consolidate debts, or fund education or marriage of your children, with the property power.

Loan Amount: Up to 5 crores

Repayment Tenure: Up to 15 years

Key features:

1. Loan is available as overdraft as well as term loan.

2. Surrogate Scheme available for self-employed.

3. Balance transfer facility available at attractive premiums for Property Power Loan.

 

2. SME Loan against property

Purpose:

This loan can be availed by entrepreneurs for their business needs and growth.

Loan Amount: No stipulation of financial parameters

Repayment Tenure:

1. Up to 30 months for Running Overdraft/ Demand Loan.

2. Up to 120 months for Term Loan

3. Up to 30 Months for Non Funded Limits

Key features:

1. Low processing fee of 0.50%

2. Term Loan, Working Capital/ Non-funded limits, and Demand Loan available

 

3.Loan against Rent Receivables

Purpose:

This loan can be availed against the future rentals of a commercial property today.

Loan Amount: Up to 20 Crores

Repayment Tenure: Up to 120 months

Key features:

1. Competitive interest rate

2. Demand Loan, Term Loan, OD with diminishing Drawing Power (DP) available.

 

4.Federal Aashray Loan

Purpose:

The Federal Aashray Loan provides an additional income source for senior citizens of India, who own a self-acquired property in the country,

for any personal use except speculative trading and/or business.

Loan Amount:

1. Loan amount is decided according to the value of the security which is being provided.

2. Value of the property-to-be-mortgaged should be minimum 60% of qualifying loan amount.

3. Monthly payout from 2,000 to 25,000

Repayment Tenure:

1. 10 to 15 years

2. The remaining life of the property should be minimum 20 years.

Key features:

1. Bullet payment option available

2. Prepayment the loan is allowed by giving 6 months’ notice.

3. Settlement by legal heir’s option is also available.

4. Interest is reset every 5 years.

 

5.Federal Aashray Loan

Purpose:

The Federal Aashray Loan provides an additional income source for senior citizens of India, who own a self-acquired property in the country,

for any personal use except speculative trading and/or business.

Loan Amount:

1. Loan amount is decided according to the value of the security which is being provided.

2. Value of the property-to-be-mortgaged should be minimum 60% of qualifying loan amount.

3. Monthly payout from 2,000 to 25,000

Repayment Tenure:

1. 10 to 15 years

2. The remaining life of the property should be minimum 20 years.

Key features:

1. Bullet payment option available

2. Prepayment the loan is allowed by giving 6 months’ notice.

3. Settlement by legal heir’s option is also available.

4. Interest is reset every 5 years.

 

6.Property Power for NRIs

Purpose:

This loan can be availed against property for your personal, business, and family's financial needs.

Take your business to new heights, consolidate debts, or fund education or marriage of your children, with Property Power.

Loan Amount:

1. Up to 50% of the security's value

2. Maximum 5 Crores

Repayment Tenure:

Up to 15 years

Key features:

1. Loan is available as Overdraft as well as Term Loan.

2. Surrogate Scheme available for self-employed

3. Balance Transfer facility available with additional finance.

4. Insurance options available at attractive premiums for Property Power Loan. Insurance amount can be included as a part of bank's loan component.

 

Frequently Asked Questions:

 

Q. What is the security required to avail a LAP?
Ans. Equitable mortgage of immovable property with 25% margin will be required as security.

 

Q. what is the Federal Bank loan against property interest rate?

Ans. Federal Bank Loan against property at rate staring of 12.60% p.a. onwards* with the lowest EMI.

 

Q. Did Federal Bank Loan against property rates drop?

Ans. Yes, Federal Bank Loan against property rates decreased by the 1.8% from the previous rate of 11.90% to 10.10%.

The Lowest mortgage rates of Federal bank are effective from June.

 

Q. What is the maximum loan tenure Federal Bank offers for a Loan against property?

Ans. Up to 10 years...

 

Q. What are the documents required to apply for Federal Bank Loan against property?

Ans. Three types of documents required to apply for Federal Bank loan against property - KYC documents, financial documents and property documents

1. KYC Documents- photo identity proof, residence address proof, office address proof, to meet these requirements a borrower can provide Aadhaar Card, PAN Card, shop and establishment certificate etc.

2. Financial document for self-employed borrowers- Audited report, ITR, Balance sheet for latest 3 financial years, banks statements of all the accounts for last 1 year, business profile etc.
Financial document for salaried borrowers – latest 3 month’s salary slips, latest 2 years ITR, bank statement of salary account for 1 years and details of all the loans.

3. Copy of property documents

 

 

Federal Bank Loan against Property News - March 2023:

 

2022-04-05: Federal Bank Reports Growth in total depository by 5.3%.

The total deposits of Federal Bank have grown by 5.3% year-on-year to Rs1, 81,712 crore as of March 31.

in addition, the gross advances also grew Rs. 1, 47,644 crore from Rs.1, 34,877 crore.

 

2022-07-15: Federal Bank’s gross advances rise 6% YOY in Q3.

Federal Bank Reported a 12% increase in total deposits which includes fixed and recurring deposits for the third quarter of the fisal.

Further the bank reported an increases of 6% rise in gross advances which includes home, personal loan, gold, loans along with business and mudra loans.

CASA ratio stood at 34.48% at the end of December 31, 2021 from 33.38% as on September 30, 2021.