When you apply for a Bajaj Finance Mortgage Loan then you need to take the following steps:

1. To begin you need to fill in the digital application form completely for a mortgage loan.
2. It is necessary that you submit a few important documents such as KYC, Financial, and Property 
3. This bank then initiates the mortgage loan process that includes legal and technical verification 
4. It is then that the Federal Bank determines your loan eligibility. The bank then provides you with a sanction letter. It includes the following details: sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions 
5. Finally, once all the documents are verified,  a mortgage loan disbursement is raised, and a disbursement cheque is issued.  

A few important documents that you need to submit while applying for a Federal Bank Mortgage Loan are given in a tabular form below:

Federal Bank mainly provides a mortgage loan with attractive lowest minimum interest rates. Besides, it also provides you with flexible repayment options and quick loan approval. These are a couple of major reasons why you should select a Federal Bank Mortgage Loan.

Once the submission of the necessary documents is done, the Federal Bank should not take more than 7 – 15 working days to get the loan sanctioned.

It is necessary to have a minimum CIBIL score of 750 and above to secure a Federal Bank Mortgage Loan.

The minimum mortgage loan amount sanctioned by Federal Bank is 10 Lakh and 5 Crore

Normally, many banks or other financial institutions like Federal Bank require only a co-owner to be a co-applicant for a mortgage loan. However, it is not necessary that you have a co-applicant to apply for a Federal Bank Mortgage Loan. Although, if you do have one it only helps in significantly improving your loan eligibility and proving to your lender your ‘Creditworthiness’.

The rate of interest for Federal Bank Mortgage Loan is floating interest rate which is linked to RLLR ( REPO LINKED LANDING RATE )
Therefore it will reused by the change every time the repo rates gets reused by the regulator

If you have IT returns of three financial years to show, the chances of you securing a Federal Bank Mortgage Loan increases significantly. However, you can secure it even if you do not have IT returns of three financial years, if you are looking for a small mortgage loan amount and you have a good CIBIL score to prove that you are ‘Creditworthy’.

After applying and submitting all the necessary documents for a Federal Bank Mortgage loan, this bank provides you with disbursal in 4 – 5 working days.

There are few important details about Federal Bank Mortgage Loan that you need to know  given below: 

1. Features of Federal Bank Mortgage Loan:

   A few salient features of Federal Bank Mortgage are given below: 

   1. A flexible loan repayment tenure 
   2. 100% hassle free documentation 
   3. Loan against property or LAP provided for wide range of purposes