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Federal Bank Personal Loan

Federal Bank Personal Loan Apply Online

The federal bank offers personal loans to salaried individuals for loan amounts up to Rs.25 Lakhs at an interest rate of 10.49% per annum onwards and for loan tenure of up to 4 years. Read the below details to know more about Federal Bank Personal Loan.

Federal Bank Personal Loans Key Highlights

Loan Amount

Up to Rs.25,00,000

Loan Tenure

Up to 4 years (48 months)

Interest Rates

10.49% to 17.99% per annum

Processing Fees

Up to 3% of the loan amount

Minimum Monthly Income


Features of Federal Bank Personal Loan

The various benefits to avail loan from Federal Bank are as follows:-

Federal Bank Personal Loan Eligibility Criteria

To apply for a FedPremia Personal Loan borrowers need to meet the following eligibility criteria.

Check Now For Personal Loan Eligibility

Documents Required for Federal Bank Personal Loan

The following is the indicative list of documents for all applicants who are applying for a personal loan from Federal Bank.

KYC documents

Income Documents

  • Proof of Identity- Passport or Voters ID card or Driving’s License, or PAN Card
  • Proof of Address- Ration card/Electricity Bill/ Lease agreement/ Passport.
  • PAN Card Copy
  • 2 copies of the latest passport-size photo of the applicant
  • Latest salary certificate or Last 3 month’s salary slips are required
  • Form 16 or Income Tax Returns( for the last 2 previous years)
  • Last 6 month’s present salary account statement
  • Duly signed loan application form is acceptable

Federal Bank Personal Loan Interest Rate, Fees, and Other Charges

Following are the details of federal bank maximum and minimum interest rates, fees, and other charges applicable to avail personal loan.

Maximum Interest Rate

10.49% per annum

Minimum Interest Rate

17.99% per annum

Processing Fees

Up to 3% of the loan value

Prepayment/ Foreclosure charges

  1. Floating rate scheme- NIL
  2. Fixed rate scheme (Byom loans included)- 3%

Late Payment Charges/Penalty

2% p.m.

Swapping charges from fixed to floating or vice-versa

0.25% of the outstanding balance amount or drawing power, whichever is higher

Charges for CIBIL


CERSAI charges


Illustration- Aaradhya avails a personal loan for Rs.20 Lakhs, the interest rate is 10.49% and the repayment period is 48 months. Calculate EMIs, total interest payable, and the total amount.

Comparison of Federal Bank with Other Banks

Compare the below Federal bank with other lenders.

Banks Name

Maximum Loan Amount

Interest Rates (p.a.)

Processing Fees on loan amount + GST


Federal Bank

Up to 25,00,000


Up to 3.5%


Up to 40 Lakhs


Up to 2.5%


Up to 50 Lakhs


Up to 2.50% of loan value

Axis Bank

Up to 40 Lakhs


1.5% to 2%

IDFC First Bank

Up to 1 Crore

Starts at 10.75%

Up to 3.5% of loan value

IndusInd Bank

Up to 50 Lakhs


Up to 3% of the principal loan amount


Additional Reading : What is the Lowest Personal Loan Interest Rate in India?

Federal Bank Ratings & Review

Google Playstore Rating


App Downloads

50 Lakhs+

Review by No. of Users  


Content rating


App Size

82 MB

Pros and Cons of Federal Bank Personal Loan

As per the review of the applicants you need to check below the pros and cons of availing of a loan from Federal Bank.



Less paperwork is involved

Product is not widely available

Loan processing is faster

Delay in service

Satisfactory product

Comparatively higher interest rate

The large loan amount and long loan tenure



Additional Reading: Review of HDFC Bank Personal Loan

FAQs for Federal Bank Personal Loan

1. What repayment methods can be used to repay a Federal bank personal loan?

Standing instruction registration at your near branch, internet banking, and automated payment through ECS or mobile banking.

2. What is the purpose of the FedPremia Personal Loan?

It is a regular personal loan scheme offered by Federal Bank for meeting the personal requirements of salaried individuals having a minimum salary of Rs.25,000 per month.

3. What is the turnaround time for the disbursement of a Federal Bank personal loan?

The Federal Bank has not specified the turnaround time for personal loan applications. But, most lenders take 2 to 7 working days for personal loan disbursal.

4. Does Federal Bank offer pre-approved personal loan offers to their customers?

No, Federal Bank does not offer any pre-approved offers for instant personal loans.

5. Can borrowers foreclose their existing federal bank personal loan?

Yes, the borrowers can prepay their personal loan with prepayment charges of 3% of the outstanding principal amount.

6. What is the minimum CIBIL score required to avail personal loan from Federal Bank?

Federal Bank has not mentioned the minimum credit score required to avail of a personal loan. But, a credit score of 750 and above increases the possibility of availing personal loan at reasonable interest rates.

7. Federal bank offers a fixed or floating rate of interest for a personal loan?

The Federal bank only offers fixed interest rates for a personal loan.

8. What is the Federal Bank customer care number?

Conclusion- Federal bank offers FedPremia personal loans up to Rs25 lakhs for the tenure of 4 years to salaried individuals whose monthly income is 25000 or above. Their interest rates start at 10.49% per annum. It is recommended to make complete research with different lenders to make a decision.

An average number of customers avail of loans from them because their products are not widely available. But customers are satisfied with the product but facing some difficulty in service delivery.

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Simple Application Process

1. Just fill up a simple form

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3. Click on Submit button

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