Federal Bank Announces Special Loan Scheme for Flood Affected Customers of Kerala

KOCHI:
Federal Bank announces hassle free top-up loans up to Rs 10 Lakhs to the flood hit housing loan customers of the Bank in Kerala for repairs and rebuilding of houses. Existing housing loan customers who have been repaying the loan at least for the last one year can apply for the loan. The loan is offered at concessional rate of interest of 8.50%. The borrowers are not required to submit any fresh documents in support of their income. A need based moratorium of six months is also offered to eligible borrowers. The applications for loans under this category are processed by the Bank on a priority and fast track basis.