Best Banks for Personal Loan For Bihar Government Employees
Feature
HDFC Bank
Private Bank
Bajaj Finance
Interest Rate
10.75% - 17%
11.25% - 18.5%
0.12
Min Loan Amt
Metro : 75000 & Non Metro: 50000
50000
100000
Max Loan Amt
50 Lacs
50 Lacs
1 Cr
Loan Tenure
1 - 5 Years
1 - 5 Years
1 - 5 Years
Processing Fee
0.25% - 2% of the Loan Amt
1% - 2.5% of the Loan Amt
Preclosure Charges
2%, Nil foreclosure charges after 12 months
2%, Nil foreclosure charges after 24 months
Nil
Overdraft Facility
No
No
Yes
Personal Loan For Bihar Government Employees Features
For Bihar Government Employees, there is an availability of a Personal Loan. Many banks and NBFCs offering personal loans instantaneously for government employees. For getting a low-interest rate Personal Loan, you must apply through Dialabank.
- Quick Loan disbursal
- Flexible Loan Tenure: Vary from 12 to 60 months
- You can avail of the maximum amount of loan is up to Rs. 20 lakh.
- For getting a personal loan for Bihar Government Employee, your monthly income is Rs. 15,000 minimum.
- Employees working in Central & State Government, PSUs, Railways, and Defense can get personal loans at attractive interest rates.
- There is a requirement of the CIBIL score for Personal Loan For Bihar Government Employees which is above 750.
Benefits of Personal Loan for Bihar Government Employees
- Quick Loan Approval: Being a Bihar government employee, you will get the loan approval faster. If your eligibility is equivalent to the lender, then your personal loan application will be accepted faster.
- Fastest Disbursal: If your loan will get approved quickly, then the loan amount will be disbursed faster in your bank account.
- Easy Repayments: There are options of repayments with flexible loan tenure for availing of the personal loan government employees in Bihar. Repay the amount with affordable EMIs.
- Minimal Documents: There is the least documentation required for the availing of a personal loan. An applicant requires to present a few documents.
- Maximum Loan Amount: You can get a maximum loan amount of up to Rs.20 lakh which means all your financial needs can easily be attained without any problem.
- Online Process: For an online process, it is a smooth process, wherein just a few steps an individual can apply and get the loan amount. The process is quick and convenient.
Purposes of Personal Loan For Bihar Government Employees
- For a Wedding or any other Family function expenses.
- For the educational purposes of self or family.
- Funds are required for the renovation or refurbishing of your home.
- Finances for Emergencies & medical expenses.
- Personal Loan funds can be used to go on a vacation.
Types of Government Employees Personal Loan Bihar
Public sector Undertakings (PSUs) or CPSEs
Employees are provided with increased loan amounts with top-class interest rates. The Department of Public Enterprises distributes guidelines for categorization in categories I & II based on their financial performance, net worth, revenue & profit as MAHARATNA /NAVRATNA/MINI RATNA.
Public Sector Banks
The government of India holds on to the supreme posts in the Public Sector Banks, (i.e. more than 50%). Therefore, these include in the Government categorization for sourcing of Personal Loans.
Personal Loan for Army and Defence Personnel
The Country’s Defence forces encompassing the Indian Armed Forces which are the military forces of the country.
Leading Banks provides special rates & discounts on processing fees to the Defence & Army Personnel. Also, provides flexible loan tenure that differs from 12 months to 60 months.
Indian Railways
The Gazetted Staff of the Indian Railway is incorporated in the special government category for Personal Loans.
Personal Loan for Pensioners
Pensioners can get a personal loan who are retired employees of the Central government, State government & Defence services. After serving in the government services for an entire lifespan, Employees are guaranteed a safe & secure livelihood on retirement.
The pension should be received in their regular income banks to pensioners to meet their funds’ requirements for medical expenditures, a child’s wedding, or any other personal use. Loan tenure is up to 5 years after the retirement date for the pensioners. A pensioner’s maximum age is 76 years.
Eligibility Criteria for Army/Defence Personnel
| Job Experience | 1-year minimum |
| Occupation | Personnel of paramilitary forces like BSF, ITBP, CRPF, Coastal Guards, CISF, Assam/J&k Rifles |
| Security | Charge over assets obtained out of the loan |
Personal Loan For Bihar Government Employees Eligibility Criteria
- Profession: For government employees, the process is quick and smooth. For getting a personal loan, employees working in any public sector unit (PSU), central and state government departments, and government schools and colleges.
- Age Criteria: The customer’s least age must be at least 21 years and the maximum age is 60 years at loan maturity.
- Loan Tenure: There is a flexible loan tenure in the repayment of the loan amount. The loan tenure shifts from 12 months to 60 months.
- Processing Fees: The processing fees charged for Bihar government employees for a personal loan is 1% of the loan amount.
- CIBIL score requirement: The CIBIL score required for the Bihar government employees for getting a personal loan must be 750 and above.
- Job Tenure: The job tenure of the individual is also taken into consideration by banks before offering a personal loan for Bihar government employees. For government employees who are working for at least one year, there will not be any trouble in availing of a loan. However, people who have entered the government service may have to check out with the bank.
Documents Required for Personal Loan For Bihar Government Employees
For Salaried Class Individuals
- Anyone Photo Identity Proof: Passport, Voter’s ID, PAN Card, Driving License, or Aadhar Card
- Anyone Residence Proof: Passport, Aadhar Card, Utility Bill, Ration Card, or Driving License
- Residence Ownership Proof(Anyone): Electricity Bill, Property Documents, or Mainatainence Bill
- Income Proof: Salary Slips of last three months with Form 16 and the bank statements for the previous 6 months
- At least one Proof of Job Continuity: Employment certificate of current employer, Experience Certificate, or Employment letter from the current employer
- Investment Proof(if any): Fixed assets, fixed deposits, shares, etc.
- Passport size colour photograph: 1
For Pensioners
- Identity/Age Proof (Anyone): Ration Card, PAN Card, Voter ID Card, Passport, Driving License, School Leaving Certificate, or Birth Certificate
- Address Proof (Anyone): Aadhar Card, Passport, Ration Card, Utility Bills, or Driving License
- Income Proof (Anyone): Bank passbook, bank statements of the last 6 months, Form 16, Income Tax Returns, or Copy of Pension Payment order
- Recent passport-sized photographs
Personal Loan for Bihar Government Employees EMI, Interest Rate, and Total Repayment Amount
| Interest Rate | 9.99% |
| Processing fees | 1% of the loan amount |
| Prepayment charges |
4% of the loan amount in 2nd yr; 2% of the loan amount in the 4th year |
| Repayment options | Up to 5 years |
| Maximum loan amount | Rs.20 Lakh |
| Loan approval time | 10 Minutes |
How to Apply for Personal Loan For Bihar Government Employees
If you want to get an instant Personal Loan, Applicants don’t need to visit the bank’s branch as applicants can apply for it online at Dialabank within minutes.
- Visit the website Dialabank.
- Click the loan section and click on the personal loan link.
- The applicant will be directed to fill in all details like name, location, etc. where they can select their preferred locality.
- For more information and free guidance regarding a personal loan for Bihar government employees, you may call on 9878981166.
Processing Fees / Prepayment Charges for Personal Loan for Bihar Government Employees
Most of the institutions and banks charge two types of payments from their applicants. Every Bank and NBFC charges a fee for processing your Personal Loan For Bihar Government Employees application. The processing fee for getting a personal loan for Bihar government employees is 1% of the loan amount.
Every lending institution charges you a penal prepayment fee if you want to close the loan before the fixed loan tenure. In most cases, you will not be able to close your loan before 12 months. Post that the charges will rely on the years of the loan has been done. Prepayment charges range from 4% of the outstanding loan amount in the 2nd year to 2% in the 4th year of the loan.
Personal Loan For Bihar Government Employees EMI Calculator
Equated Monthly Installments is called the EMI i.e. the monthly pre-determined charges that you have to pay to the bank as monthly repayment for the loan amount that you have borrowed. On the basis of your profile, the interest rate on your loan is determined. Your EMI is calculated on the basis of the Interest Rate you are charged by the bank and the loan amount you have to take and the time span for which you enjoy the loan.
To calculate EMI: Personal Loan EMI Calculator
CIBIL Score Required for Personal Loan For Bihar Government Employees
Every lending institution has its own criteria for the minimum CIBIL score required for processing a Personal Loan For Bihar Government Employees application. Most institutions require a minimum score of 750 to process your Personal Loan for Bihar Government Employees application.
The organizations don’t just look at the overall score but also check out the detailed behaviour on the previous loans that you have taken and this comprises details on the loan type and the loan amount borrowed. If there are any late payments to your previous loan, then it will create an obstacle in your personal loan application.
Personal Loan For Bihar Government Employees Pre-Calculated EMI Table
Personal Loan For Government Employees Agent in Bihar
Dialabank is the leading and most trustworthy agent for availing of the Personal Loan For Government Employees in Bihar. It will assist you in providing you with the best offers as per your preference.
You can apply online at Dialabank or contact us at 9878981166.
Personal Loan For Bihar Government Employees Contact Number
Call 9878981166 and get instant help and approval for a Personal Loan for Bihar Government Employees.
FAQs for Personal Loan For Bihar Government Employees
✅ Who can apply for a personal loan for Bihar government employees?
Employees working in any public sector unit (PSU), central and state government departments, and government schools and colleges can get a personal loan for government employees.
✅ What is the interest rate for a personal loan for Bihar government employees?
The interest rate for getting a personal loan for Bihar government employees is 9.99% per annum.
✅ What is the loan tenure for getting a personal loan for Bihar government employees?
The loan tenure is ranging from 12 months to 60 months for getting a personal loan for Bihar government employees.
✅ What is the age requirement for the availing of a personal loan for Bihar government employees?
The minimum age required is 21 years and the maximum age is 60 years for availing of a personal loan for Bihar government employees.
✅ What is the maximum age limit for pensioners applying for a personal loan for Bihar government employees?
The maximum age limit for pensioners is 76 years who want to apply for a personal loan for Bihar government employees.
✅ What is the processing fee charged for a personal loan for Bihar government employees?
The processing fee charged for a personal loan for Bihar government employees is 1% of the loan amount.
✅ What will be the loan tenure available for a personal loan for Bihar government employees?
The loan tenure available for a personal loan for Bihar government employees will vary from 12 months to 60 months.
✅ What is the minimum income requirement for Bihar government employees for the availing of a personal loan?
Bihar government employees must have a minimum income of Rs. 15,000 per month for availing of a personal loan.
✅ For what purpose of being a Bihar government employee, I can get a personal loan?
You can get a personal loan for the purposes to pay for the education expenses of self or family, for use in Emergencies & medical expenses, to renovate or refurbish your home, to meet expenditures for a Wedding or any other Family function.
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