As a bank employee, you may benefit from certain advantages when applying for personal loans. Lenders often consider the stable income and employment profile associated with bank jobs, which can lead to competitive interest rates, flexible repayment options, and simpler documentation requirements.
Whether you require funds for personal expenses, such as a wedding or higher education, or to address unexpected financial needs, a personal loan could be a viable solution.
Lender |
Starting Interest Rate |
Processing Fee |
Loan Amount |
Tenure |
InCred |
16.00% p.a. |
2% to 5% of the sanctioned amount |
₹10,000 to ₹10 Lakhs |
Up to 72 months |
Kissht |
14.00% p.a. |
3% to 5% of the loan amount |
₹5,000 to ₹4 Lakhs |
6 months to 24 months |
Federal Bank |
11.00% p.a. |
0.70% to 2.80% of the loan amount + 18% GST |
₹50,000 to ₹5 Lakhs |
Up to 12 months |
mPokket |
24.00% p.a. |
₹50 to ₹200 + 18% GST (maximum APR of 48%) |
₹500 to ₹45,000 |
Up to 90 days |
Bajaj Finance |
10.00% p.a. |
Up to 3.93% of the loan amount (Inclusive of applicable taxes) |
₹50,000 to ₹35 Lakhs |
12 months to 96 months |
CASHe |
2.79% p.m. |
Up to 5.5% of the loan amount + GST |
₹50,000 to ₹3 Lakhs |
9 months to 18 months |
Fibe |
14.00% p.a. |
Up to 2% of the loan amount |
₹50,000 to ₹5 Lakhs |
Up to 36 months |
Finnable |
15.95% p.a. |
Up to 3% of the loan amount |
₹20,000 to ₹10 Lakhs |
Up to 60 months |
Muthoot Finance |
14.50% p.a. |
2% to 4% of the loan amount |
₹50,000 to ₹10 Lakhs |
Up to 60 months |
IIFL Finance |
18% p.a. |
2% to 6% of the loan amount + GST |
₹70,000 to ₹5 Lakhs |
Up to 24 months |
Kotak Mahindra Bank |
10.99% p.a. |
Up to 1.50% of the loan amount + GST |
₹50,000 to ₹40 Lakhs |
24 months to 72 months |
KreditBee |
14.00% p.a. |
Up to 3% of the loan amount |
₹1,200 to ₹5 Lakhs |
Up to 24 months |
L&T Finance |
12.00% p.a. |
Up to 2% of the loan amount + GST |
₹50,000 to 7 Lakhs |
Up to 48 months |
MoneyTap |
18.00% p.a. |
5% to 10% of the loan amount |
₹5,000 to ₹5 Lakhs |
3 months to 36 months |
moneyview |
1.33% p.m. |
Starts from 2% of the approved loan amount |
₹30,000 to ₹10 Lakhs |
Up to 60 months |
YES BANK |
12.50% p.a. |
1.15% to 2.75% of the loan amount |
₹1 Lakh to ₹50 Lakhs |
12 months to 72 months |
Zype |
18.00% p.a. |
2% to 6% of the loan amount |
₹3,000 to ₹5 Lakhs |
6 months to 12 months |
Olyv |
18.00% p.a. |
2% to 12% of the loan amount |
₹1,000 to ₹1 Lakh |
2 months to 12 months |
PaySense |
15.00% p.a. |
2% to 2.5% of the loan amount + GST or ₹500 + GST (whichever is higher) |
₹5,000 to ₹5 Lakhs |
Up to 60 months |
Privo |
9.99% p.a. |
1% to 3% of the loan amount + GST |
₹2 Lakhs to ₹5 Lakhs |
6 months to 60 months |
SMFG India Credit |
12.00% p.a. |
0% to 6% of the loan amount |
₹50,000 to ₹25 Lakhs |
Up to 60 months |
Upwards |
1.5% p.m. |
Up to 4% of the loan amount |
₹25,000 to ₹5 Lakhs |
Up to 36 months |
*Disclaimer: The mentioned details are subject to change at the lender’s discretion.
To secure a personal loan as a bank employee, you may need to meet specific eligibility conditions.
Common criteria include:
Citizenship of India is mandatory
Employment type: salaried or self-employed
Minimum age: 18 years
Earnings: at least ₹10,000 per month
Should have one year of professional experience
Required CIBIL score: 600 or above
Keep in mind that these criteria may vary between lenders. It is advisable to check the exact requirements provided by your chosen financial institution before proceeding with the application.
When applying for a personal loan, you’ll typically need to submit the following documents:
Identity Proof: Any one document from the following list:
PAN Card
Aadhaar Card
Voter ID Card
Passport
Driving Licence
Address Proof: Provide any of the following:
Voter ID Card
Aadhaar Card
Passport
Driving Licence
Electricity or Telephone Bill
Income Proof: Submit bank statements or salary slips for the previous three months
Photographs: Two recent passport-sized photos
To apply for a personal loan, follow these simple steps:
Click on the ‘Check Eligibility’ option available on the page
Fill in your personal details and income-related information
Specify your desired loan amount and repayment tenure
Review all the information carefully and submit the application form online
Once your application is submitted, it will be reviewed by the lenders. They will contact you for verification and guide you through the next steps.
A personal loan for bank employees offers a convenient and flexible way to manage your financial requirements, whether for personal milestones or unexpected expenses. With tailored eligibility criteria and minimal documentation, it ensures a hassle-free borrowing experience.
By understanding the process and gathering the required documents beforehand, you can streamline your application and secure the funds you need with ease. Always compare lenders and loan terms to make an informed decision that aligns with your financial goals.