BYOM – Be Your Own Master – Online Loans from Federal Bank

Federal Bank offers online loans that allow you to be your own master. With these loans, you can easily apply and get approval online without the need for visiting a bank branch. Whether you need a personal loan or a home loan, Federal Bank has got you covered. Their online loan process is hassle-free and allows you to get the funds you need quickly and easily. With Federal Bank’s online loans, you can take control of your finances and be your own master.

1. The Loan is sanctioned at the sole discretion of The Federal Bank Ltd (hereinafter referred to as “Bank”).
The Bank reserves the right to decide your eligibility for the Loan as per its internal policies and

2. The loan is availed through the Fintech Partner Application/Website based on the information/
documents provided by you.

3. Your availing of the Loan shall be deemed to be your unconditional acceptance of the terms and
conditions of the Loan as contained herein and you shall be bound by the same.

4. By availing the loan, you hereby unconditionally agree, confirm, declare, and undertake as follows:

a. That you shall utilize the loan only for your genuine lawful personal needs and not otherwise.
b. That under no circumstances the proceeds of the loan shall be used for speculative purposes.
c. Interest will be applied on the daily balance outstanding in the account from the date of disbursal of
the loan or part thereof. The principal amount under the loan shall always include the interest
debited to my loan account at monthly rests cumulatively.

d. That you shall repay the Loan as per the Repayment Terms specified herein. You shall keep sufficient
credit balance in your Operative Account for servicing the Loan.

e. NACH Mandate Return Charges at INR 354/- (INR 300 + 54 (GST))shall be payable in case of dishonour
of NACH Mandates. Charges shall also be payable for further presentation of NACH.

f. That Processing Fees at the rates specified herein shall be paid up front.

g. Broken period interest will be collected upfront.

I. If the account is opened before 5th of a month, the period from the date of account opening to

5th of the same month will be the broken period and the interest for this period will be collected

II. If the account is opened after 5th of a month, the period from the date of account opening to
5th of the next month will be the broken period and the interest for this period will be collected

5. The Loan once processed and disbursed cannot be cancelled. The Interest Rate, Processing Fees and
Tenure applicable to the Loan confirmed at the time of availing the Loan cannot be changed.

6. The Loan can be pre-closed at any time during the tenure.

7. EMI start date for loans availed on or before 5th of a month will be 5th of the next month. (Eg – For
Loan’s opened from Jan 1 – Jan 5th, EMI date would be Feb 5th) EMI start date for loans availed after 5th
of a month will be 5th of the month succeeding next month. (Eg – For Loan’s opened between Jan 6th –
Jan 31st, EMI date will be Mar 5th)

8. Effective from 1st July 2017, GST is 18%, which is subject to change and will be applicable as per
Government regulations.

9. In the event of your default in repaying the Loan together with applicable interest, charges, taxes and
costs and/or in adhering to the terms and conditions contained herein,
a. You shall be liable to pay additional/penal interest.

b. The entire amounts outstanding in the Loan account shall be payable forthwith on demand. However,
the Bank may at its sole discretion permit you to continue with the Loan subject to your payment of
overdue amounts.

c. The Bank shall be entitled to report your name to CIBIL/RBI or any other statutory, regulatory or
rating agencies.

d. The Bank shall be entitled to initiate such other legally permissible measures against you for
recovering the amounts outstanding under the loan account, in terms of the Bank`s Loan/Debt
Collection Policy.

Federal Bank offers BYOM (Build Your Own Loan) online loans that allow customers to customize their loan amount, repayment period, and EMI according to their needs. This flexible loan option can be used for various purposes such as home renovation, education, medical expenses, or any other personal need. The online application process is quick and easy, with minimal documentation required. Additionally, customers can enjoy competitive interest rates and convenient repayment options with BYOM online loans from Federal Bank.

Apply Online for loan