Railway employees enjoy financial stability and a trusted employment status, making them ideal candidates for personal loans. Recognising this, many lenders may offer loans with simplified eligibility criteria and attractive terms for railway professionals. 

Whether you’re planning to fund a major milestone like a wedding, fund your child’s education, manage unexpected expenses, or consolidate debts, a personal loan provides the flexibility to address diverse financial needs with ease.

Personal Loan Lenders Available on Bajaj Markets

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.

Eligibility Criteria for Personal Loan

If you are a railway employee seeking a personal loan, you may need to meet certain eligibility conditions.

Common criteria include:

  • Applicant must be a citizen of India

  • Can either be salaried or self-employed

  • Must be at least 18 years old

  • Monthly income should be ₹10,000 or more

  • A minimum work experience of 12 months is required

  • CIBIL score must meet or exceed 600

Keep in mind that these criteria can vary between lenders. It’s recommended to verify the specific requirements of your chosen financial institution before applying for the loan.

Documents Required for Personal Loan

When applying for a personal loan, you’ll typically need to submit the following documents:

Identity Proof: Submit one of these:

  • PAN Card

  • Aadhaar Card

  • Voter ID Card

  • Passport

  • Driving Licence

Address Proof: Provide any one:

  • Voter ID Card

  • Aadhaar Card

  • Passport

  • Driving Licence

  • Utility Bill (Electricity or Telephone)

Income Proof: Bank statement or salary slips for three recent months

Photographs: Two passport-sized photographs

Remember that the required documents may differ depending on the lender. It’s advisable to review the specific documentation guidelines provided by your chosen lender before submitting your loan application.

How to Apply for Personal Loan on Bajaj Markets

To apply for a personal loan, follow these simple steps:

  1. Click on the ‘Check Eligibility’ option available on the page

  2. Fill in your personal details and income-related information

  3. Specify your desired loan amount and repayment tenure

  4. 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.

Conclusion

Personal loans for railway employees offer an efficient and adaptable way to address financial needs, whether for major life events or unexpected costs. With tailored eligibility requirements and straightforward documentation, the process is designed to be hassle-free.

Understanding the application steps and organising the required paperwork in advance can help you secure the loan quickly and smoothly. To make the best decision, compare lenders and evaluate loan terms carefully to ensure they suit your financial goals and circumstances.

Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Apply Now
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