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.
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.
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.
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.
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.
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.