Federal Bank India

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About Federal Bank India

Federal Bank
Federal Bank is a private sector bank in India. The head office of this prestigious bank is located at Aluva, Kerala. By 2008, the Federal Bank India had successfully introduced 671 branches and 681 ATMs across the nation. In the month of March of 2008 alone, the bank had opened 26 branches across 11 Indian States.

Federal Bank India is well recognized for facilitating even the smaller branches consisting of rural and partially-urbanized areas with technology enabled services.

Background of Federal Bank India

Previously known as Travancore Federal Bank Limited, the Federal Bank Limited in its entire span of customer services has seen both ups and downs. The bank started with an auction-chitty business along with other banking transactions related to agriculture and industry. In the year 1945, the paid-up capital of the bank touched Rs.71000 and a new Board of Directors was constituted. During this period, the bank also incorporated new Articles of Association. The same year its branch was opened at Aluva.

Subsequently, Federal Bank came with its branches in Angamally (1946) and Perumbavoor (1947). However, it came with a massive expansion plan in the years 1975 and 1976 by opening 53 and 42 branches respectively.

From that time onwards till today, the bank has continued to incorporate the effective changes to ensure smooth banking experience for its customers.

Products and Services of Federal Bank India

Federal Bank India extends a wide range of products and services to its customers to ensure them maximum benefits and a happy banking experience. The range is inclusive of:
  • Depository Services
  • Debit Cards
  • General Insurance Products in association with United India Insurance
  • Export Credit Insurance Products in association with ECGC
  • Express Remittance Facility from Abroad - FEDFAST
  • Cash -On- Line Express Cash Remittance
  • Life Insurance Products in association with IDBI Fortis
  • Lock Box Service for US-based NRIs
  • Cash Management Services
  • Merchant Banking Services
  • E-shopping Payment gateway
  • BSNL Bill Payment
  • Easy Pay- On-line fee payment system
  • Online LIC Insurance Payment
  • Online Kiosks for customers
  • Online Railway Reservation System

Pioneering Services by Federal Bank India

In its attempt to serve customers with the best and to provide them an easy means of banking, Federal Bank in India has come up with many first of its kind services and products that re-defined the entire banking scenario of India. These are:
  • Launched Internet Banking Service via FedNet among all the traditional banks in India
  • Made its branches automated
  • Inter-connected all its branches
  • Started Electronic Telephone Bill Payment
  • Introduced e-shopping payment gateway
  • Offered Mobile Alerts and Mobile Banking service
  • Devised a way for Express Remittance Facility from Abroad
  • Provided RTGS facility in all its branches

Federal Bank Loans

Federal Bank offers various products and services that are customer friendly and modern technology assisted. Some of the Federal Bank Loans, which are offered to the customers, are the following:
  • Housing Loans
  • Personal Car Loan
  • Personal Loan
  • Agri mobile Loan
  • Kissan Credit cards
  • Demat Loan
  • Federal Vidya Loan
  • Loan against Rent receivable
  • Instant Relief Loan
  • Mortgage Loans
  • Consumer Loan
  • Federal Bonvoyage Loan
  • Home Overdraft Scheme
  • Vanijya Loan
  • Gold Loans
  • Warehouse Loan
  • Equity Subscription or IPO Finance
  • Jeevan Suraksha Loan for Medical Practitioners
  • Subha Yatra Loan Fair Practices Code
  • Federal Easy Cash
  • Federal Special Vidya Loan
  • House Plot Purchase

Personal Car Loans

The car loans by the Federal Bank are given for the purchase of both new and used vehicles for personal use. The loans are offered to individuals, educational institutions, trusts and others. Financial assistance accounting for around 90% of the vehicle's price is given as the loan amount. The upper loan ceiling is ` 50 lacs for the individual borrowers.

Education Loans

The educational loan scheme by the Federal Bank is also known by the name of Federal Vidya Loan. It is offered to the students who want to pursue higher studies in India or abroad. Students of Indian nationality, both residents and non-residents are only eligible for getting this loan. Financial assistance, up to a maximum of ` 25 lacs is offered to the loan seekers, under this scheme.

Personal Loans

Federal Bank offers personal loans for all personal purposes. Individual residents and non residents are eligible for getting this financial assistance. A maximum of ` 2 lacs is offered to the customers as loan amount, under this scheme. It is given for a period of up to 60 months.

Federal Bank Home Loan

Federal Bank has designed its home loan options to provide loan to its customers who aim to buy a new house or flat, who wish to renovate an already constructed house or flat, who want to purchase a land along with a house and also those who wish to purchase a land to construct a house.

Basic Requirements for Federal Bank Home Loan

The applicants for the home loan in Federal Bank should preferably be below fifty-five years of age. Non-residents applying for Federal Bank Home Loan must be fifty-five or below that during the maturity period of the loan. An authenticated proof of income should be produced while applying for the loan. Federal Bank offers loan up to 85% of the project cost which includes the expenses included in stamp duty, registration and the like. Other areas such as compound wall, landscaping, water tank, etc. are also included in the project cost. A maximum of ` 3 crores are offered as housing loan by the bank. The maximum duration allotted for the repayment of the loan is twenty years for the residents and fifteen years for the non-residents. The housing property should be kept as a security against the home loan by the borrower. The interest rate charged on the home loan varies according to the market conditions.

The already existent home loan borrowers are also entitled to the following home plus loaning options offered by Federal Bank:
  • Up to ` 2 lacs as personal loan
  • Up to ` 50 lacs as car loan or bike loan
  • 15% of the total home loan for furnishing and beautification works
  • 50% of the housing loan as privilege personal loan subjected to the group with higher income
  • Up to ` 25 lacs as education loan (Vidya loan)

Benefits of Federal Bank Home Loans

  • Federal Bank offers housing loans at low interest rates
  • The procedure for application is simple

Head Office of Federal Bank India

The Federal Bank Limited,
Federal Towers,
Aluva - 683 101,
Ph: +91-484-2623620 to 29
Fax: +91-484-2622672
Official Website: http://www.federalbank.co.in/
24x7 Phone Banking : 1800-420-1199

Federal Bank Informational Data

Name of Bank Federal Bank
No. of Offices 611
No. of Employees 7570
Business per Employee (in ` Lakh) 750.00
Profit per Employee (in ` Lakh) 6.90
Interest Income (in ` Crore) 3315
Other Income (in ` Crore) 516
Interest Expended (in ` Crore) 2000
Operating Expenses (in ` Crore) 571
Return on Assets 1.48
CRAR 20.22
Net NPA Ratio 0.30

Last Updated on May 1, 2015