Federal Bank Education Loan

Federal Bank | Education Loan | 24-Sep,2021

About Federal Bank: Federal Bank Limited is one of the most popular Indian private sector banks. It is headquartered in Aluva, Kochi. It provides banking and financial services. As of 2021, Federal Bank has over 1250 branches spread across India. Additionally, Federal Bank has branches in Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.

Detail: Interest rates on Education Loans are floating, and vary with the changes in MCLR.

Annual Percentage Rate (APR): 10.90%

Minimum & Maximum period for repayment (Loan Tenure): 7 years

Loan processing charges: 0.50% of the loan amount

Late Payment: Nil

Foreclosure Charges: 2% will be charged on the overdue amount 30 days after the due date.

Partpayment Charges: N/A

Maximum Loan Amount: Upto 20 lakh

Federal Bank Profile

Sector : Finance

Industry : Regional Banks

More and more customers are conducting various transactions with this bank as it has become more popular than others. Currently, Shyam Srinivasan holds the position of MD and CEO of Federal Bank. As of 2021, Federal Bank has over 12,592 employees working across its numerous branches.

Know more

You will go on the Official website.

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Loan Type

Federal Bank ROI Max Loan Amount Tenure Processing Fee Late Payment Foreclosure Charges Partpayment Charges
Personal Loan 10.49% p.a. Up to Rs.25 lakh Up to 48 months Up to 3% 2% per month on the amount which is overdue Nil N/A
Home Loan 8.75% 15 cr 30 years Upto 1% of loan amount Nil if floating, upto 2% for fixed rate 2% additional interest per month on overdue EMI amount N/A
Education Loan 10.90% Upto 20 lakh 7 years 0.50% of the loan amount Nil 2% will be charged on the overdue amount 30 days after the due date. N/A
Car Loan 1)New Car Loan - 9.15% p.a. 2) Used Car - 14.95% p.a. 1)New Car Loan –100% of loan amount 2) Used Car – 90% of the loan amount Up to 84 months -- -- Nil N/A
Business Loan 12.95% 20 Laks 12 to 36 months -- -- Nil N/A

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