The Federal Bank Personal Loan eligibility requirements vary slightly depending on the form of personal loan chosen. The following are important details:
1. For a FedPremia personal loan
- You must be a salaried employee.
- A minimum monthly income of Rs. 25,000 is needed.
- When your term expires, you should be no older than 60 years old.
- You should have been with your new company for at least three years.
2. For a Fed-E-Credit personal loan
3. For a Federal Bank Shubh Yatra Loan (For Travelling)
- You must be a local resident.
- You must be a salaried employee with a monthly base salary of at least Rs. 2000.
- You must provide Federal Bank with adequate protection.
4. For a Bon Voyage Loan from the Federal Bank (For Relocating to Abroad for Work)
- You must be an Indian national.
- A letter of appointment from a reputable overseas institution or a recruitment agent is required.