Loan Details

Interest Rate

10.49% p.a. onwards

Processing Fee

Up to 3% of loan amount



Nil on floating rate schemes Up to 3% on fixed rate schemes


Up to 4 years

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest
Federal Bank Personal Loan

Here are the eligibility criteria for different loan schemes:

  • Resident individuals* whose monthly net salary is Rs.25,000/- and more.
  • Applicants cannot be more than 60 years of age at the end of the loan
  • Applicants need to be in their current job for more than 3 years. 


All the applicants are required to submit the below-listed documents with Federal Bank -

  • Filled up personal loan form
  • Address Proof
  • Identity Proof
  • 2 latest passport size Photographs
  • Latest salary certificate or salary slips of the last 3 months
  • Form 16/ITR/ITAO of previous 2 years
  • Copy of PAN Card

Identity Proof:

  • Aadhar Card
  • Driving License
  • PAN Card
  • Voter ID

Proof of Residential Address

  • Electricity bill
  • Lease Agreement
  • Ration Card
  • Passport

The loan verification proceeds in the following stages:

1. Fill the Federal Bank personal loan application form and upload it on the official website or wherever required. Submit copies of all the relevant documents required for application verification. It can be quickly done by signing up on

2. One of our customer care representatives will get back to you within 24 hours and schedule visits for collecting document copies (in case you chose offline submission of documents).

3. The concerned officials at Federal Bank verify the documents and the details there. They may visit the property if necessary.

4. Once your personal loan application is approved, the loan amount will be disbursed to your account, and you will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.

There are two reference rate systems linked to Federal Bank personal loan interest rate-

· Repo Rate

· MCLR Rate

The interest rate will also depend on a variety of other factors such as: collateral, loan scheme availed, loan amount, credibility of guarantor, and other relevant factors.