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Bajaj Finserv Personal Loan for Government Employees
To meet the varied needs of the individuals employed by the government as well as PSUs, Bajaj Finserv is here to offer the personal loan to the government employees. The best thing about this credit facility is that you can get the instant approval for the same. Once your application is approved, you will get the money in just 24 hours.
Apply Bajaj Personal Loan @ 10.99%* Rate
Bajaj Finserv Personal Loan Interest Rates for Government Employees
| Particulars | Details |
|---|---|
| Interest Rates | 12.99% onwards |
| Tenure | 12-60 months |
| Loan Amount | Up to INR 25 Lakh |
| Processing Fee | 2.25% - 3% of the loan amount |
Eligibility Criteria for Bajaj Finserv Personal Loan Government Employees
You need to meet the below eligibility norms so as to get this loan. Take a look at the table below to know the basic details:
- An applicant must be an Indian citizen
- He/She must be between 23 and 58 years of age
- Must be a salaried individual employed with an MNC, public or private company
- The minimum monthly income of an applicant must be INR 27,000/30,000/32,000/37,000
EMI Calculator for Bajaj Finserv Personal Loan Government Employees
Want to know the exact calculations of your monthly installments? Use a personal loan EMI calculator online and know the exact and accurate values in the least time frame. This magical device with its well-designed algorithms allows you to know the results in the best manner.
You simply need to feed-loan amount, tenure and interest rate into the device and within a few seconds, it will fetch the exact calculations of your EMI and Interest Outgo, hence allowing you to take a calculative decision in the future.
Let’s just have better clarity with the help of an example below:
Suppose, Ankit Aggarwal, a 32-year-old, Graphic Designer by profession is looking for a personal loan of INR 2 Lakh to renovate his home. He has applied to avail the loan from Bajaj and after going through his profile, the lender got agreed to offer the credit at an interest rate of 12.99% per annum for a tenure of 5 years. So, let’s take a look at the table below to know what would be the exact calculations of his monthly installments.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
| Loan Amount | Interest Rate | Tenure | Monthly Instalment | Total Interest Amount | Total Amount |
|---|---|---|---|---|---|
| ₹ 2,00,000 | 12.99% | 1 | ₹ 17,863 | ₹ 14,350 | ₹ 2,14,350 |
| ₹ 2,00,000 | 12.99% | 2 | ₹ 9507 | ₹ 28,178 | ₹ 2,28,178 |
| ₹ 2,00,000 | 12.99% | 3 | ₹ 6738 | ₹ 42,562 | ₹ 2,42,562 |
| ₹ 2,00,000 | 12.99% | 4 | ₹ 5365 | ₹ 57,496 | ₹ 2,57,496 |
| ₹ 2,00,000 | 12.99% | 5 | ₹ 4550 | ₹ 72,975 | ₹ 2,72,975 |
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
| Year | Principal | Interest | Balance Amount |
|---|---|---|---|
| 1 | ₹ 30,381 | ₹ 24,213 | ₹ 1,69,618 |
| 2 | ₹ 34,572 | ₹ 20,023 | ₹ 1,35,046 |
| 3 | ₹ 39,340 | ₹ 15,255 | ₹ 95,706 |
| 4 | ₹ 44,765 | ₹ 9829 | ₹ 50,940 |
| 5 | ₹ 50,988 | ₹ 3655 | ₹ 0 |
Documents Required to Apply
For a hassle-free loan journey, it is important that you need to have the complete documents. So take a look at the documentation below:
- KYC Documents
- Employee ID Card
- Salary Slips of the previous 2 months
- Bank account statements of the salary account, for the previous 3 months
Features & Benefits
- Instant Approval
- Fastest Disbursal (within 24 hours)
- Flexibility
- Minimal Documentation
- Flexible Tenure
- Loans up to INR 25 Lakh
