Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Check Eligibility

If you are an employee of the Indian government and are planning to get a personal loan, you can get them at concessional rates of interest as well as long loan repayment tenors. These loans are also collateral free and you can use them for basically anything. Read on to know more about personal loans for government and PSU employees.

Personal Loan for Government Employees Interest Rate

Our Partners
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Minimum Interest Rate
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Maximum Loan Amount
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Maximum Loan Tenure
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Bajaj Finance Limited

11% p.a.

₹35 Lakhs

72 months

4.7
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CASHe

27% p.a.

₹4 Lakhs

18 months

4.4
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Federal Bank

11% p.a.

₹5 Lakhs

48 months

4
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Fibe

14% p.a.

₹5 Lakhs

36 months

4
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Finnable

15.95% p.a.

₹10 Lakhs

60 months

4
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IIFL Finance

18% p.a.

₹5 Lakhs

42 months

4.1
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InCred

16% p.a.

₹10 Lakhs

60 months

4.3
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Kissht

14% p.a.

₹4 Lakhs

24 months

4.2
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Kotak Mahindra Bank

10.99% p.a.

₹40 Lakhs

72 months

4.2
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KreditBee

15% p.a.

₹5 Lakhs

24 months

4.1
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L&T Finance

12% p.a.

₹7 Lakhs

48 months

4.6
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moneyview

1.33% p.m.

₹10 Lakhs

60 months

4.2
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mPokket

24% p.a.

₹45,000

90 days

4.1
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Muthoot Finance

14.50% p.a.

₹15 Lakhs

60 months

4
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Olyv

18% p.a.

₹1 Lakh

12 months

4.1
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PaySense Partners

15% p.a.

₹5 Lakhs

60 months

4.3
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Privo

9.99% p.a.

₹5 Lakhs

60 months

4.5
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SMFG India Credit

12% p.a.

₹25 Lakhs

60 months

4.2
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Upwards

1.5% p.m.

₹5 Lakhs

36 months

4.3
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YES BANK

10.99% p.a.

₹50 Lakhs

72 months

4.2
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Zype

18% p.a.

₹3 Lakhs

12 months

4
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Features and Benefits of Personal Loan for Government Employees

Collateral-Free

These loans can be availed without any collateral. All you will be required to do is satisfy the basic eligibility criteria.

Competitive Interest Rates

You can get a personal loan for government employees from Bajaj Markets at interest rates starting from just 10.49% per annum.

Long Repayment Tenors

You can pay off your government employee personal loan over a repayment tenor of up to 6 years.

No Restrictions on Use

You can use a government employee personal loan for basically anything, from funding a vacation to purchasing expensive pieces of tech to covering medical expenses.

Easy Verification and Approval

If you just meet the basic personal loan eligibility criteria, chances are that your loan application will be approved instantly. If it is approved, your loan amount will be credited into your account Read Morewithin a day’s time. Read Less

Flexi Loan Facility

You can use flexi personal loan facility for reduced EMIs.

Eligibility of Loan for Government Employees

If you want to avail a personal loan for government employees, you must satisfy the following conditions:

Eligibility Criteria

Particulars

Nationality

Indian

Age

21 years or more

Minimum Net Monthly Income

₹25,000 per month. Note that it can change depending on the city that you live in.

Minimum Work Experience

Minimum 2-3 years of work experience.

Credit Score

650 or above

Documents Required for Government Employee Personal Loan

Government employees can obtain a personal loan easily by submitting a few documents, such as:

  • KYC documents, such as Aadhaar card, PAN card, Voter ID card or more

  • Employee ID card

  • Bank account statement for the previous 3 months

  • Salary slips for the previous 3 months

 

Note that the documents mentioned above are indicative and may change depending on the requirements of the lender.

How To Apply for a Government Employee Personal Loan?

The process of applying for a government employee personal loan is easy with an online application. You simply need to follow these steps:

  • Step 1: Visit the website of a lender and navigate to the personal loan section.

  • Step 2: Click on ‘Apply Now’

  • Step 3: Fill in the application form with all necessary details

 

After submitting the application, you will have to wait for the lender’s approval. Following this, you will have to submit the necessary documents.

FAQs on Personal Loans for Government Employees

How much loan can a government employee get?

The loan amount a government employee can obtain depends on his/her eligibility. If one meets the eligibility parameters, he/she will be able to obtain a high value loan amount. 

Who is entitled to avail of a Personal loan for Government Employees?

All salaried government employees are entitled to obtain a personal loan in the country. You simply need to meet the eligibility criteria and have a high credit score.

What are the processing charges on a personal loan for government employees?

The processing charges on a personal loan for government employees typically range between 1% and 2%. However, this rate changes from one lender to another.

Is it okay for retired government employees to apply for personal loans?

Typically, lenders do not provide personal loans to retired government employees, because this is an unsecured type of financing. However, consider talking with your lender beforehand for a better understanding.

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