Management team with 200+ years of experience managing scale in top-tier Banks, NBFCs and Capital Markets
More..Products and policies are dutifully designed take care variety of credit need of its customer segment.
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More..Fedfina enjoys Federal bank’s brand name and also has a board oversight with three of six board members being on Federal bank’s board.
More..Explained; smart money moves for managing Finances in uncertain times
Category : NCD Nov 2021| 02:00
Fedbank Financial launches Customer Self Service portal & Mobile App ‘Fedfina Loans’ 2
Category : CP Nov 2021| 02:00
Explained; smart money moves for managing Finances in uncertain times 2
Category : CP Nov 2021| 02:00
Fedbank Financial launches Customer Self Service portal & Mobile App ‘Fedfina Loans’ 3
Category : Right Issues Nov 2021| 02:00
Explained; smart money moves for managing Finances in uncertain times 3
Category : Right Issues Nov 2021| 02:00
Fedbank Financial launches Customer Self Service portal & Mobile App ‘Fedfina Loans’ 4
Category : NCD Nov 2021| 02:00
Explained; smart money moves for managing Finances in uncertain times 4
Category : NP Nov 2021| 02:00
Explained; smart money moves for managing Finances in uncertain times 5
Category : NP Nov 2021| 02:00
The Economic Times
FedBank Financial receives strategic investment from True North
Financial Express
Federal bank’s NBFC arm to invest Rs 100 crore for expansion
The Hindu
Business Standard
Fedbank Financial receives strategic investment from True North
Business Standard
Fedbank Financial receives strategic investment from True North
The Economic Times
FedBank Financial receives strategic investment from True North
Financial Express
Federal bank’s NBFC arm to invest Rs 100 crore for expansion
The Hindu
Federal Bank
True North
Axis Bank
Federal Bank
True North
Federal Bank
Axis Bank
True North
True North
Axis Bank
Axis Bank 2
True North 2
Federal bank financial
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You can avail the loan against pledge of your household ornaments. The loan offered shall depend upon the purity level of your ornaments and the net weight of gold content.
As per regulatory guidelines, we are not permitted to finance against pledge of your gold bullion.
Our staff follows strict operating guidelines while handling customer ornaments. This avoids ornament breakage and loss. The ornaments are kept in safe custody (safe rooms or strong rooms) with adequate security measures in the branch.
Fedfina Gold loans can be availed for any amount between Rs 3,000 to a maximum of Rs 1 core. Loans are available for period of 3 month to 12 months. Our gold loans have a minimum lock in period of 1 day and there are no prepayment penalties
Yes, our gold Loan schemes also have a minimum lock-in period of 1 day, the interest is applicable only for the days the money was actually utilized. It is calculated on simple interest rate.
Our gold loan products have the shortest tenor of three months. Customers are counseled to service the interest on a monthly basis, to avoid risk of default.
Our gold loan schemes fall broadly into following categories:
- a) Maximum Value for Gold: These schemes offer the maximum amount of loan per gram.
- b) Low interest rate: In this category, the interest rates are lower which offers the customer a choice of higher/lower Loan to Value (LTV) and tenure.
- c) Flexible Repayment Option: Our products are tailored to suit the requirement of customer as at their comfort levels with respect to the interest rate and periodicity of repayment of interest and principal. Incidentally, gold loans can be availed at our branches for amounts as low as a Rs 3,000 and as high as 1crore.
- d) Loan Transfer: Balance transfer is designed to help customers to transfer their gold loans with higher interest rate with banks & NBFC to Fedbank Loan transfer scheme which offers lower rate of interest.
The loan availed to purchase a new residential property (builder purchase or resale) is called Home Loan. Home Loan taken by hypothecation of property (residential / commercial) is known as Loan against Property.The funds procured by Loan against Property can be used for various purposes.Any one qualifying the parameters of income & property can avail Home Loan or Loan Against Property.
The procedure to avail a Home Loan is quite simple – You need to call us or fill up the form with us, We will call you & take the essential financial & personal details required for the loan like Age, Net salary, Designation, Employer details, Total experience, Current experience, Period of stay in the city, the Current Residence & Details of all obligations being serviced. Also we would need the Property details like Type of Purchase, Location of the property, Built-up area, Rate per square feet, Agreement Value, Occupation certificate & so on. We will then revert you with the quotation of the lenders who would sanction the loan & also suggest the best lender suiting your needs, the final decision for which lender to go with lies with you. We would then inform you the List of Documents needed to apply for the loan, once the said documents are ready same would be picked up, the form signed & filled up, then the case would be logged in with the bank.
The Thumb rule for calculating eligibility: Net salary per month is calculated after tax deductions then 40% to 65% of that amount is taken as loan servicing capability [appraised income]. If one has additional income like Incentives, Overtime, LTA, Medical Reimbursements, Car Allowance etc. then it is averaged out to per month’s income & only 25% to 50% of the same is considered for eligibility. If you have any ongoing obligation then it is deducted from the appraised income, this amount is then divided by EMI per lacs for the considered term, and the arrived figure is the eligibility in lacs. Example shown below - Net Salary pm after tax deduction = 80,000/- Averaged out incentive pm = 20,000/- Averaged out LTA pm = 2,000/- Current Personal Loan EMI = 5,500/- Loan Calculation based on the above information: 50% of Net salary = 40,000/- 25% of Incentive = 5,000/- 25% of LTA = 500/- Appraised Income = 45,500/- Appraised Income [-] less] ongoing EMI = Final Income to be considered. 45,500 [-] 5,500 = 40,000/- Suppose the loan is @ 10% for 20 years; then EMI per lac @ 10% for 20 years is Rs.965/- The eligibility would be Final Income / EMI per lac for the tenor. 40,000 / 965 = 41.45 lacs Hence, the eligibility is Rs. 41.45 lacs @ 10% for 20 years. Every banks has its own method for calculating eligibility. It is advisable to check the eligibility with the concerned person.
Yes! The banks also include the co-applicants income to determine the eligibility. The eligibility is based on the years remaining for retirement & the income. The banks readily include Spouse & parents income. Some financers also add the income of brothers & other closed relatives. This has to be categorically clarified with the lender as this is not a norm. It would also be advisable to clarify if the daughters [married / unmarried] income is clubbed with their parents as this is also an exception.
Most of the Lenders sanction Home Loan for salaried customer in 7 working days; for Business persons the time taken for sanctioning a case can be longer as various calculations are involved & there is also "Personal Discussion" done at the place of customer work.
Is tax benefit applicable on the processing fee paid for the home loan?
The Income Tax Act, 1961 states that one can avail tax benefit under 3 sections for home loan 1. Section 80 (c) 2. Section 24(b) 3. Section 2(28A) 1. Section 80(c) - In this section the EMI component paid towards repayment of principal amount of the loan can be deducted from income. The borrower is eligible for a tax deduction for a maximum amount of Rs. 1L each year under section 80(c) irrespective of the tax bracket. To avail this deduction the property needs to be self-occupied. 2. Section 24(b) - The interest paid towards home loan is treated as an 'expense' under 'Income from house property' and is deductible under Section 24(b) from the total income. The maximum deduction permitted under this section is Rs.1.5L per annum. 3. Section 2(28A) - Processing fee can be treated as interest and a deduction can be claimed according to Section 2(28A) of the I-Tax Act
Can the loan amount be decreased after sanction? Yes!! The bank would disburse only the amount needed if it is lower than the sanction amount. Lower amount will be disbursed if sanctioned amount exceeds the property LTV norms Can the loan amount be increased after sanction? No! To increase the loan amount one needs to submit latest financial documents. Enhanced Fresh eligibility is then decided based on the increased income. This is called a revalidation.
If you have Home Loan which is active & you plan to sell your home, this is possible. Here you can pay the outstanding loan amount & clear the loan or ask the buyer to do Balance Transfer of the Loan. Balance Transfer procedure is explained in detail in the following answer.
Payment of the outstanding amount by the buyers bank to the sellers bank is known as seller's Balance Transfer.
Yes! This is called switching - from fixed to floating & vice versa. Firstly to switch the lender must have attractive fixed / floating rate options. Lenders charge switching charges. This clause is generally written the loan agreement which is signed before disbursement.
Yes you can repay the loan prior to due date. Please refer the schedule of applicable charges, if any, for further details.
Maximum funding is based on various aspects including property type and usage. Will recommend you should get in touch with our relationship officer for further details
Self employed individual/ Proprietors , Private Ltd. Co. and Partnership Firms involved in the business of Manufacturing, Trading or Services
You can avail of a loan from Rs 5,00,000/- to Rs 30,00,000/- depending on your income, repayment capacity and respective location product cap.
For availing business loan, the minimum turnover required is Rs 100 Lakhs or Business with Tax Audited Financials.
You pay the loan in equal monthly instalments (EMIs). The loan will be paid through post-dated cheques. You can also pay through National Automated Clearing House (NACH) .
To obtain the loan, there is absolutely no need to provide any security or collateral
You can repay your loan over a period of 12 to 36 months
No, part payment is not allowed for business loans.
AUM MIX
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