Personal Loan for Government Employees

Last Updated : Jan. 2, 2024, 12:33 p.m.

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.

Apply Personal Loan @ 10.75%* Rate

List of Top Banks Offering Personal Loan for 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.

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 INR 15,000/20,000 to avail a maximum loan amount of up to INR 40 Lakh. The personal loan offered by the HDFC bank comes with a tenure of 5 years along with a processing fee of 1.50% of the loan amount.

Offers for Government employees

Employees Working with Central and State Government

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 INR 17,500/20,000/25,000. The maximum loan amount offered by the bank is up to INR 40 Lakh that needs to be repaid within a tenure of 5 years by paying a processing fee of INR 999.

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 INR 25 Lakh that can be availed by Central Government, PSUs and Railway employees.

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.

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 INR 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 Aadhaar Card, etc.
• Residence Proof: Driving License/Voter ID Card/Aadhaar card, etc.
• Last 3 months Bank Statements
• Employment Proof
• Form 16 of last 2 years
• Signature Proof