Personal Loan for Government Employees

Highlights

  • There are many top banks that offer personal loan to government employees
  • Personal loan for government employees comes with special offers and rates

Any unexpected financial emergency can leave you in a lot of stress, isn’t it?. Whether it’s a medical emergency, unexpected house repairs or credit card debt payment, a personal loan for government employees comes handy to meet such needs. If we talk more about this credit facility, it is exclusively for the government employees that comes with many features and benefits such as special interest rates and so on.  So, without wasting any time further, let’s just come to the point straight and take a look at the banks offering this credit facility to the government employees.

SBI Personal Loan for Government Employees

Whether it’s a sudden family vacation, renovating your home or paying the credit card debt, State Bank of India, under its Xpress Credit facility offers the personal loan to government employees. The bank offers this loan to the employees of Central, State & Quasi Government and the employees of Central PSUs and Profit Making State PSUs.

Take a look at the table below to know more details.

ParticularsDetails
Interest Rates10.65%-14.65%
EligibilityEmployees of Central, State & Quasi Government and the employees of Central PSUs and Profit Making State PSUs
Income₹5,000
Loan Amount₹25,000-₹15,00,000
Tenure5 Years (60 months)
Processing Fee1% of the loan amount + GST

HDFC Personal Loan for Government Employees

In order to cater the personal needs of all the government employees, HDFC is here. The lender offers the personal loan to the employees of public sector undertakings, including Central, State and Local Bodies. The minimum net monthly income of an employee should be ₹15,000/20,000 to avail a maximum loan amount of up to ₹40 Lakh. The personal loan offered by the bank comes with a tenure of 5 years along with a processing fee of 1.50% of the loan amount.

Let’s just know more about the same below.

Offers for Government employees

Government OfferNo. of CorporatesIncomeIRRProcessing Fee (of the loan amount)
Maharatna, Navratna & Miniratna55NTH>=75K

NTH>=50K

NTH>=35K


10.99%

11.49%

13.49%



1.50%

1.50%

1.50%
CRPF,CISF,SSB,ITBP & BSFAll14.75%1.50%
PensionerAll14.50%1.50%
RailwaysAllNTH>=50K

NTH>=35K

NTH>=25K
14.25%

15.00%

16.50%

1.50%

1.50%

1.50%

Employees Working with Central and State Government

SegmentIncomeIRRProcessing Fee (of the loan amount)
Government Employees CAT A (GA) & CAT B (GB)NTH>=50K

NTH>=35k

NTH>=24k

14.75%

15.00%

16.75%

1.75%

2.00%

2.00%

ICICI Personal Loan for Government Employees

If you are a government employee, who is looking to avail a personal loan, all you need to know about ICICI Personal loan for government employees. The bank offers this unsecured credit facility to the employees, earning a monthly income of ₹17,500/20,000/25,000. The maximum loan amount offered by the bank is up to ₹40 Lakh that needs to be repaid within a tenure of 5 years by paying a processing fee of ₹999.

Go through the table below to know more

Corporate Salary Band Special Corporate Offer (ICICI Bank Relationship)Special Corporate Offer (Non ICICI Bank Relationship)Processing Fee ((ICICI Bank Relationship)Processing Fee ((Non ICICI Bank Relationship)
Government-DiamondNTH >/= 75 K11.29%11.29%1.50%1.50%
Government-PearlNTH 35K - 75K11.50%11.50%1.50%1.50%
Government-RubyNTH <35 K13.50%13.50%1.50%1.50%

Bajaj Finserv Personal Loan for Government Employees

To help individuals employed by the Government as well as various PSUs so as to meet their life’s goals, Bajaj Finserv offers the personal loan to government employees. This credit facility comes with many features and benefits such as flexible tenure of up to 5 years, loan amount of up to ₹25 Lakh that can be availed by Central Government, PSUs and Railway employees.

Take a look at the table below.

ParticularsDetails
Interest Rates13.99% per annum
EligibilityGovernment, PSU and Railway Employees
Income (in ₹)27,000/32,000/37,000
Loan Amount Up to ₹25,00,000
Tenure5 Years (60 months)
Processing Fee2.25% - 3% of the loan amount

Axis Bank Personal Loan for Government Employees

You would be glad to know that Axis Bank offers the personal loan to Government Sector Employees including Public Sector Undertaking and Central and Local Bodies. Minimum age of an individual should be 21 years and should not be more than 60 years at the time of loan maturity.

Let’s just go through the table below to know more.

ParticularsDetails
Interest Rates15.5%-24%
EligibilityGovernment Sector Employees including Public Sector Undertaking and Central and Local Bodies
Income₹15,000
Loan Amount₹50,000-₹15,00,000
Tenure5 Years
Processing Fee1.50%-2% of the loan amount+GST

Eligibility Criteria to Avail Loan

  • An applicant should be an Indian citizen
  • The minimum age of an applicant should be 21 years
  • The maximum age of an individual should be 58/60 years
  • He/She must be a Permanent Government Salaried Employee with a minimum income of Rs.15,000
  • An applicant should have at least 1 year of job stability with the current employer while having a total work experience of 2 years, which varies from bank to bank

Documents Required to Apply

  • Loan Application Form
  • 2 Passport size photos
  • Salary Slips for last 3 months
  • Identity Proof: PAN Card or Driving License or Voter ID Card or Adhaar Card, etc.
  • Residence Proof: Driving License/Voter ID Card/Adhaar card, etc.
  • Last 3 months Bank Statements
  • Employment Proof
  • Form 16 of last 2 years
  • Signature Proof

People Also Look For

Personal Loan Interest Rates September 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.25%
ICICI Bank10.99% - 18.40%
IndusInd Bank11.25% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank10.99% - 14.49%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates September 2018
State Bank of India/SBI8.65% - 9.20%
HDFC8.70% - 9.40%
Bank of Baroda8.55% - 9.55%
LIC Housing8.60% - 8.95%
PNB Housing Finance8.99% - 10.75%
ICICI Bank8.85% - 9.10%
Axis Bank8.50% - 8.75%
Citibank8.85% - 9.65%
Indiabulls Housing Finance Limited8.70% - 9.85%
Kotak Bank8.65% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 10.00%
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