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In today’s competitive world, owning a home has emerged as a major life milestone that signifies financial independence and coming of age. Whilst the Indian market offers lots of very attractive home loan packages for the first time or repeat home buyer, none compare to the simplicity, all round features and quality as offered by Federal Bank Home Loans. Indeed, what less can be expected from a bank that has been a prominent fixture in the Indian banking scene for half a century, and knows its local audience at the grassroots level? Home Loans from Federal Bank:

As mentioned above, Federal Bank, erstwhile known as the Travancore Federal Bank, was founded in the pre-independence era, and today is known as one of the most stable and strongest banks in India. Its home loan product, known as ‘Federal Housing Loans’ is feature rich, flexible and highly in tune with the express requirements of the average Indian home loan seeker. Being a veteran definitely helps!!

A home loan can be defined as funds that a borrower seeks from a lender/bank in order to- a) Buy a new house/flat/apartment, b) Purchase land for the construction of a new house or, c) Renovate an existing building. Essentially, when speaking of the Federal Bank Home Loan, the following are on offer-

• Massively Time Saving- From checking out the available features, confirming the eligibility, running down the list of required documents to marveling over the super appealing Federal Home Loan interest rate, everything happens quickly and smoothly- thanks to BankBazaar’s interactive and informative approach.

• Know everything- BankBazaar.com is a complete treasure trove of information when it comes to any banking product. Know basic terms and conditions, do’s and don’ts, eligibility factors, documentation and tons of other big and small details concerning your upcoming Federal Bank Home Loan.

The eligibility criteria set for the acquisition of a home loan from Federal Bank is as simple and customer centric as possible. Any Indian resident, with a verified and regular source of income, self-employed and businessmen can apply, provided the following documents be submitted at the inception of the loan-

• Proof of Income for Self Employed Professionals, Self Employed Non-Professionals and Business- Proof of business existence and education qualification certificate, Business profile, Tax returns for the last 2 years (attached with audited balance sheet and P&L), IT returns for last 2 years and bank statements for the last 12 months (both self and business). Aside from these, the Federal Bank can request you for additional documents and proof

Federal Bank aims to provide the lowest rate of interest on its housing loans. The bank currently offers a floating rate of interest that varies between 9.57% to 9.82% on Federal Bank housing loans. This rate of interest is applicable for all kinds of housing loans offered by the bank. The above mentioned rate is a floating interest rate type and can fluctuate with time based on the market. Federal Bank Home Loan Calculator:

As the name so aptly suggests, a Home Loan Calculator (also called, Home Loan EMI Calculator) helps with the electronic computation of the Equated Monthly Installments (EMI) that applies to your home loan from Federal Bank. On BankBazaar.com, the friendly, time saving and highly interactive Home Loan EMI Calculator simplifies this often tedious task. Also, this calculating tool offers the following advantages-

A bank that has an intimate relationship with the average Indian customer for over half a century, a track record for quality and quick turn-around, deep adherence to emerging technologies while staying true to its traditional heritage, Federal Bank is all this and much more. Thus, their home loan product carries all the hints of a complete and customer centric approach. Definitely worth your time.