Recognising the importance of the Farmer sector in the development of the nation, Federal Bank has created an elaborate institutional framework to meet the credit requirements of the sector. Agricultural lending forms an integral part of the priority sector lending of the Bank. Bank offers loan facitlites for sectors like plantation, horticulture, land development, irrigation, farm mechanisation, construction of rural godowns, cold storages and poly house/ greenhouse, precision farming, floriculture, animal husbandry, poultry, fishery among others. This service is extended through rural, semi-urban and urban branches of the Bank.
Our base rate of interest is 12% .
To abide by the KYC (Know Your Customer) Policy of RBI and approved KYC norms of our Company, we insist to produce one document of identity proof (Such as Ration Card with photo, Driving License, PAN Card, Voter ID card, Passport, Aaadhar Card etc.) and one document of residential address proof (Such as Telephone Bill, Electricity Bill, Water Bill, Bank account / Credit Card Statement, Municipal / Local/House Tax Bill / Receipt, Authentic Rent Receipt / Lease Document, Letter from reputed employer/ Public Authority).
We know that these gold ornaments are very precious and favorite to you. So we guarantee you that it will be in our safe hands in strong cash safes inside a strong room built as per the standards and specifications applicable to commercial banks. The pledged gold ornaments are also insured for full value. Moreover, security personnel and modern electronic surveillance technology are deployed to protect your beloved gold ornaments.
The most important things from the customer's perspective are transparency, security and choice of loan product to suit individual requirements. Transparency would help the customer see for himself what he gets in return for what he pays. There should be no hidden costs and no nasty surprises.
Security is about how well the gold is physically secured, and also about the internal systems and procedures at the company which ensure that there is no scope for any malfunctions after the jewelers have been pledged. The choice of loan products should cover the range from high LTV (loan to value) to low LTV, with appropriate variations in interest rates.