Can you tell me the details of the Federal Bank e-loan scheme?
Federal bank is offering instant loans under its instant e-credit schemes. Federal bank account holders can simply login to their net banking account and opt for an instant loan up to Rs. 5 Lakhs almost instantly. With its fully automated digital loan, the loan processes facilitated and approved online without having to visit the bank branch.
The features of the Federal Bank e-loan scheme include:
• Fully automated digital loan
• Online loan processing without visiting the bank
• Paperless activity
• Loan amount up to Rs 5 lakhs
• Loan can be availed as overdraft as well as Term Loan
• Facility to close loan online
• Facility to use funds through multi channels like ATM, Cheque, Internet banking and mobile banking
You can now apply for loan against your Fixed Deposits online through FedNet. You decide the time, you decide the loan amount, you invoke the loan processing system, the loan is sanctioned online and funds will be available in multi-channels within one working hour.
Who can apply?
Individuals (Residents, Non-Residents, PIOs)
How to avail the loan?
- Log into FedNet
- Click Accounts menu
- Select “Services” sub menu
- Choose the option “Loan Against Deposits”
- Loan amount gets credited to your savings account instantly, on approval* (* approval process may take minimum one hour as per the requirements of the bank)
Looking for a Personal Loan? Click here.