Federal Car Loan Rate, Eligibility Calculator, Apply Online

Federal Bank Car Loan Offer Feb 2017

Last Updated 23rd Feb 2017
Features and Eligibility Federal Bank New Car Loan Scheme Federal Bank Used Car Loan Scheme
Interest Rates 9.92% Fixed Check Special Offer 11.15% Fixed
Maximum Loan Amount Eligibility 90.00% of ex-showroom price 75.00% of depreciated value
Maximum Loan Tenure (years) 7 years 5 years
Lowest EMI per Rs. One Lakh Loan Amount (Rs.) Rs. 1,656 Rs. 2,121
Processing Fee 0.00% Min Rs. 1500 Max Rs. 2500 0.00% Min Rs. 1500 Max Rs. 2500
Prepayment Charges 2% 2%
Interest Calculation Monthly reducing balance Monthly reducing balance
Age (years) Between 21 years and 60 years Between 21 years and 60 years
Apply Car Loan Online @9.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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Eligibility Condition for Federal Bank Car Loan

Federal Bank New Car Loan Scheme Federal Bank Used Car Loan Scheme
Minimum Net Annual Income (Rs. lakh)
--Salaried 0.9 0.9
--Self employed professionals 0.9 0.9
--Self employed businessmen 0.9 0.9
  • Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
  • The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
  • Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

Frequently Asked Questions on Federal Car Loan

How much interest is charged by Federal on car loan?

Federal offers an interest of 9.92% to 10.52% on car loan.

What is the lowest EMI per lakh on Federal car loan?

If you apply for a car loan from Federal, your lowest EMI per lakh will be Rs. 1,656.

What is the maximum tenure of Federal car loan?

You can repay your car loan from Federal in a flexible period of maximum 7 years.

How much car loan I can borrow from Federal?

Federal offers you 90.00% of of ex-showroom price of car as loan.

How much processing fee is charged by Federal on car loan?

Federal charge a processing fee of 0.00% with applicable service tax.

Is age an eligibility factor to get car loan from Federal?

Yes, age is an important eligibility factor to get Federal car loan as you should be at least 21 years old at loan approval time and 60 years old at loan maturity time.

Are there any prepayment charges on Federal car loan?

You can take car loan from Federal with 2% prepayment charges.

Can I add my spouse's income while applying for car loan from Federal?

You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
Federal Car Loan Calculator News - Feb 2017
19th Aug 16 Federal Bank starts new referral option in its mobile banking app
Federal Bank has come with a reward program to its customers who refer FedMobile to friends or relatives. FedMobile is a transaction app of Federal Bank. Now customers can share the app link with the friends by clicking Refer A Friend option given in the FedMobile app home page. This message can be shared using Whatsapp, mail, Facebook etc without any cost. Customer who referred will get Rs. 50 when the referred friend does his first transaction from the app. This app can be used for availing banking facilities, bill payments, Funds Transfer and also for making future payments in advance.
19th Aug 16 Federal Bank ties up with Chillr
Federal Bank has partnered with Chillr which is a mobile banking application that connects a person directly to its bank account and enables to make bill payments, transfer money and phone recharge. This facility will help customers to do cashless transactions at any time and manage their banking requirements at a single stage. Customer can initiate their transactions on Chillr with total security authenticated by a secure PIN provided by the bank. The app is available to all the customers of Federal Bank.
18th Aug 16 Federal Bank has tied up with MMTC for disbursement of Indian gold Coins
Federal Bank entered into partnership with MMTC to allow its customers to buy Indian Gold coins, that are a part of National Gold scheme launched by government in November 2015
22nd Jul 16 Federal Bank Q1 net grows 18% to Rs 167 crore
As per the results of Q1FY17 , Federal Bank reported a 18.3 percent increase in its Net Profit at Rs. 167.3 crore. Asset quality was stable in the current quarter, with Gross NPAs ratio of 2.92 percent in first quarter of FY17 compared to 2.59 percent as on FY16. Net NPAs increased by 0.98 percent to 1.68 percent in the June quarter when compared on yearly basis. Asset quality showed mild signs of weakening with Provisions for Bad Loans increasing by 10 percent yoy to Rs 168.48 crore
21st Jul 16 Federal Bank ties up with Reliance Jio Money
Federal bank has tied up with Reliance Jio Money to launch an one click payment service. Reliance Jio money is a mobile wallet application which will allow Federal bank customers to get an option to pay directly from their account without funding the wallet. The user does not need to maintain cash in the wallet and can complete transaction from their account in just one click.
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