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Federal Home Loan Interest Rates 2022

Federal Bank Housing Loan Interest Rate -Today

Last Updated 18th Jan 2022

Loan AmountFederal Bank Repo Rate Home Loan RateHome Saver
Upto ₹ 30 Lakh7.65%8.80%
₹ 30 Lakh - ₹ 75 Lakh7.70%8.80%
₹ 75 Lakh - ₹ 5 Cr7.75%8.80%
Above ₹ 5 Cr7.75%8.80%
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Cashback

Federal Bank Home Loan Rate

Federal Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting at 7.65% up to 7.75%. Apart from the interest rate, the bank also has various other charges such as Federal Bank processing fee - that is charged over and above the loan amount, is non-refundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

Federal Bank Home Loan Processing Fee and Other Charges

Federal Bank home loan processing charges are upto 0.50% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. Federal Bank charges a minimum processing of ₹ 3,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 0.50% of the loan amount; minimum processing fee of ₹ 3,000 to maximum fee of ₹ 7,500
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest rates on Federal Home Loans Schemes

Federal Bank offers a housing loan interest rate at 7.65%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, Federal Bank home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

Below-mentioned are Federal Bank home loan rates for multiple housing schemes.

Federal Bank Home Loan Scheme Interest Rates
Federal Bank Repo Rate Home Loan 7.65% - 7.75%

Federal Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in Federal for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 30 Lakh 7.65%
₹ 30 Lakh - ₹ 75 Lakh 7.70%
₹ 75 Lakh - 5 Cr 7.75%
Above ₹ 5 Cr 7.75%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 30 Lakh 7.70%
₹ 30 Lakh - ₹ 75 Lakh 7.75%
₹ 75 Lakh - 5 Cr 7.80%
Above ₹ 5 Cr 7.80%

Federal Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount Federal Home Loan Rate For Women Federal Home Loan Rate For Govt Employee
Upto ₹ 30 Lakh 7.65% 7.65%
₹ 30 Lakh - ₹ 75 Lakh 7.70% 7.70%
₹ 75 Lakh - 5 Cr 7.75% 7.75%
Above ₹ 5 Cr 7.75% 7.75%

Federal Home Loan Balance Transfer Interest Rates

Federal Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Federal Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Federal Bank offers the loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate Federal Bank
Maximum Annual Percentage Rate (APR) 7.67% to 7.77%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • Federal Bank Home Loan Interest Rate: 7.65% to 7.75%
  • Processing Fee payable to: Upto ₹ 500
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 710 for 30 Years ₹ 1,00,000 loan at 7.65% (lowest rate, longest time period) to ₹ 2,016 for 5 Years ₹ 1,00,000 loan at 7.75% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 7.67% to 7.77%
  • Total cost payable over loan tenure: ₹ 1,21,156 for 5 Years loan to ₹ 2,55,924 for 30 Years loan

FAQs

Has Federal reduced home loan rates?

Presently, Federal offers personal loans at an interest rate starting at 7.65%. There has been no change in personal loan rates of Federal for a long time and continue to stand at 7.65%.

Why should I opt for balance transfer to Federal Bank?

Federal Bank offers lowest Home Loan EMI of ₹ 710 per lakh availed at the lowest interest rate 7.65% for a maximum tenure of 30 years. If you are paying an EMI more than ₹ 710 per lakh, you should consider the option for a loan transfer to Federal from your existing bank. Current Federal balance transfer rate is 6.50%.

Can Federal Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Federal to lower the home loan rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Can Federal revise the home loan interest rates for their existing customers?

Yes, Federal offers concessional rates to the existing customers, and you can negotiate with the bank to offer you the revised home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does Federal offer a concessional home loan interest rate for women?

Yes, Federal offers special home loan interest rates for women. As against Federal home loan rates for male which is 7.65%, the home loan interest rate for women starts at %.

What is the Federal home loan rate of ₹ 25 Lakh for 15 years?

For home loan upto ₹ 25 Lakh, Federal provides home loan interest rate starting at 7.65%. However, you can get the lowest rates if you have a good relationship with the bank, work with top corporations, have a good CIBIL score and have stable income sources.

At what interest rate does an Federal employee get a home loan?

Federal offers concessional home loan rates of about 1% than the current home loan rates to Federal employees.

Is Federal Bank home loan a floating rate loan or fixed-rate loan?

Federal home loan is offered at both fixed and floating rates. In the case of the fixed-rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

What is the Federal home loan rate today ?

Federal home loan rate today is in the range of 7.65% to 7.75%.The bank also charges a processing fee of upto Upto 0.50%, Minimum ₹ 3,000 Maximum ₹ 7,500 of the home loan amount.

How much interest does Federal take on home loans?

The rate of interest on Federal home loans varies based on your eligibility, such as CIBIL score, age, repayment capacity, income etc. However, Federal home loan current interest rate 2021 are in the range of 7.65% to 7.75%.


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Federal Home Loan News - Jan 2022
  • 2021-05-20 : Federal Bank revised its Marginal cost of lending rates
    With effect from 16 May 2021, Federal Bank changed its MCLR. The overnight and one-month MCLR is 7.65% and 7.75%, respectively. The MCLR for three months stands at 7.80%. Further, the MCLR for six months and one year is 7.85% and 7.90%, respectively. The revised rates will impact MCLR based home loans.
  • 2021-01-06 : Federal Bank’s gross advances rise 6% YoY in Q3
    Federal Bank reported a 12% increase in total deposits which includes fixed and recurring deposits for the third quarter of the fiscal. Further the bank reported an increase of 6% rise in gross advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans. CASA ratio stood at 34.48% at the end of December 31, 2020, from 33.38% as on September 30, 2020.
  • 2020-07-16 : Federal Bank Q1 net profit up 4.3%
    Federal Bank net profit backed by retail loans like home, personal, gold, car and two-wheeler along with business and mudra loans rose by 4.3% to Rs 400.77 crore in Q1 June 2020 over Q1 June 2019. Further, The Bank total deposits which include fixed and recurring deposits reached Rs 1,54,937.74 crore in Q1 June 2020, registering a 16.9% growth from Q1 June 2019.
  • 2020-05-29 : Federal Bank reported a Q4 net profit of Rs. 301.23 crores
    Federal Bank reported a 21.04% fall in its profits to Rs. 301.23 crores in the fourth quarter of 2019-20 with a sharp rise in provisions. Its net profit was ₹381.51 crores in the same period a year ago. Further, For the quarter ended March 31, 2020, the bank reported a 19.27% increase in total income to ₹4,107.95 crores from ₹3,444.04 crores a year ago backed by retail loans like home and personal loans along with business, car and mudra loans.
  • 2019-07-17 : Federal Bank net profit rises by 46% to Rs. 384 crores during FY19-20
    Private sector lender, Federal Bank’s net profit has witnessed a 46% growth to Rs. 384 crores in the first quarter of FY 19-20. Previous year the profit stood at Rs. 262 crores. The growth is driven by stable asset quality and robust non-core income. Also, the lender has plans to achieve significant growth across its retail loan segment, including home loans and mortgage loans this year.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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