Federal Bank Digital Personal Loan

Age

• age limit of 21 years to 55 years

CIBIL Score

• A CIBIL score of 730 or above is generally considered good for approving a personal loan.

Required Documents

• Your Aadhaar Card and PAN Card
• Your 3 Months Salary Account Statement (PDF/Netbanking)
• Your Mobile Number that is linked to Aadhaar to receive OTP

Loan Processing Charges

• Processing Fee collected is 2% of the loan amount plus GST.

Features

• No manual documentation. Only e-sign of loan documents through Aadhar OTP
• Maximum loan amount is arrived through bureau data / salary statement of the customer
• Loan tenure ranges from 12 months to 60 months depending on the profile of the customer.
• The detailed schedule of the charges has been listed in the Key Fact Statement that is displayed before availing the loan and send to the email id of the borrower after availing of the loan.
• Digital Personal Loans are not secured by any collateral or security and are disbursed at the discretion of the bank, based on the creditworthiness of the borrower. There is also no need for any co-signee or guarantor either. Instant Personal Loan is provided online without any security so that you can get easy access to credit for your personal needs.