As a teacher, you may enjoy certain benefits when applying for personal loans. Lenders often value the stable income and job security associated with teaching professions, which can result in competitive interest rates, flexible repayment options, and minimal documentation.
Whether you need funds for professional growth, such as pursuing higher education, or to cover significant personal expenses, a personal loan can provide the financial flexibility you require.
Lender |
Starting Interest Rate |
Processing Fee |
Loan Amount |
Tenure |
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 |
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 |
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 |
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 |
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 |
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 teacher seeking a personal loan, here are some standard requirements you may need to meet:
Indian citizenship is essential
Employment can be salaried or self-employed
Applicants should be 18 years or older
Monthly income must be ₹10,000 or higher
At least a year of work experience is mandatory
The CIBIL score should not be less than 600
It is important to note that these criteria can vary from one lender to another. Therefore, it is advisable to review the specific requirements provided by your chosen lender before submitting your application.
To apply for a personal loan for teachers, you are required to provide the following documents:
Identity Proof: Choose one from the options below:
PAN Card
Aadhaar Card
Voter ID Card
Passport
Driving Licence
Address Proof: Any one of these documents is needed:
Voter ID Card
Aadhaar Card
Passport
Driving Licence
Electricity or Phone Bill
Income Proof: Provide salary slips or bank account statements for the last three months
Photographs: Two passport-size photos are required
Click on the ‘Check Eligibility’ option available on this page
Fill in your personal and income-related details as required
Specify your desired loan amount and repayment tenure
Review the information you have entered and submit the application form online
Once submitted, your application will be reviewed by the lenders. They will contact you to proceed with the verification and approval process.
A personal loan for teachers is a practical financial solution that caters to a variety of needs, from funding education and handling emergencies to fulfilling personal aspirations. With straightforward eligibility criteria and a seamless application process, it ensures that financial constraints do not stand in the way of achieving your goals. By choosing the right lender and carefully evaluating the loan terms, you can access the funds you need with ease and confidence.
Government teachers can apply for a teacher's instant loan online by visiting the lender’s website or using a financial marketplace platform. Provide personal, employment, and income details, specify the loan amount and tenure, and submit the application along with the required documents for verification.
Personal loans for teachers can be used for various purposes, including higher education, medical emergencies, home renovations, debt consolidation, family vacations, or significant life events like a child’s marriage.
The approval time for a teachers’ loan varies by lender but is generally quick if all documents are submitted correctly. Many lenders offer approvals within 24 to 48 hours.
The loan amount you can get depends on your income, credit score, and lender policies. Typically, lenders offer personal loans ranging from ₹500 to ₹50 Lakhs, subject to eligibility and requirements