Best Banks for Personal Loan For Gujarat 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 Gujarat Government Employees Features
Government Employees can get a Personal Loan. Many banks and NBFCs offering personal loans instantly for govt. employees. You will get a low interest rate for Personal Loan through Dialabank.
- Quick Loan disbursal
- Loan tenure varies from 12 to 60 months
- The maximum loan amount is up to Rs. 20 lakh.
- Government Employee can avail of a Personal Loan having Rs, 15,000 Minimum Monthly Income
- Individuals working in Central & State Government, PSUs, Railways, and Defense can avail of the personal loans at attractive interest rates.
- There is a requirement of the CIBIL score for Personal Loan For Gujarat Government Employees which is above 750.
Benefits of Personal Loan for Government Employees
- Quick Loan Approval: You can expect the loan approval faster cause you are a government employee. If your eligibility is equivalent to the lender, then your personal loan application will be accepted rapidly.
- Fastest Disbursal: When your loan will get approved quickly, then the loan amount will be disbursed faster in your bank account.
- Easy Repayments: There are easy repayments with flexible loan tenure choices for getting the personal loan government employees Gujarat. Just repay the loan amount with affordable EMIs.
- Minimal Documents: There is minimum documentation required for availing of a personal loan. A borrower requires to submit 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 fulfilled without any trouble.
- Online Process: Talking about an online process, it is a hassle-free process, wherein just a few steps an individual can apply and get the loan amount. The process is fast, easy, and smooth.
Purposes of Personal Loan For Gujarat Government Employees
- To meet expenditures for a Wedding or any other Family function.
- To pay for the education expenses of self or family.
- For finance needed for the renovation or refurbishing of your home.
- Finance for use in Emergencies & medical expenses.
- Personal Loan funds can be used to go on a family vacation.
Types of Government Employees Personal Loan Gujarat
Public sector Undertakings (PSUs) or CPSEs
Employees are provided increased loan amounts with best in class interest rates. The Department of Public Enterprises issues 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 the majority of posts in the Public Sector Banks, (i.e. more than 50%). Hence these include in the Government category for sourcing of Personal Loans.
Personal Loan for Army and Defence Personnel
The Defence forces of the country including the Indian Armed Forces which are the military forces of the country.
Prominent Banks provides special rates & discounts on processing fees to the Defence & Army Personnel. Also, flexible loan tenure ranges from 12 months to 60 months.
Indian Railways
The Gazetted Staff of the Indian Railway is involved in the special government category for Personal Loans.
Personal Loan for Pensioners
Personal loans for Pensioners can get by retired employees of the Central government, State government & Defence services. After serving in the government services for a whole lifetime Employees are guaranteed a safe & secure livelihood on retirement.
The pension must be received in their regular income banks to pensioners to meet their financial requirements for medical expenses, a child’s wedding, or any other personal use. Loan tenure for pensioners is up to 5 years after the retirement date. The maximum age of an individual 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 acquired out of the loan |
Personal Loan For Gujarat Government Employees Eligibility Criteria
- Profession: For government employees, the process is easy, and simple. Employees working in any public sector unit (PSU), central and state government departments, and government schools and colleges can get a personal loan.
- Age Criteria: The minimum age of the applicant must be at least 21 years and the maximum age is 60 years at loan maturity.
- Loan Tenure: There is flexibility in the repayment of the loan amount. The loan tenure varies from 12 months to 60 months.
- Processing Fees: The processing fees charged for government employees for a personal loan in Gujarat is 1% of the loan amount.
- CIBIL score requirement: The CIBIL score required for the 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 Gujarat government employees. For government employees who are employed in the job for a minimum of one year, there will not be any problem in availing of a loan. However, people who have just entered the government service may have to examine with the bank.
Documents Required for Personal Loan For Gujarat 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 Gujarat 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 Gujarat Government Employees
To apply for an Instant Personal Loan, Applicants don’t need to visit the bank’s branch as applicants can apply for it online at DialaBank.com within minutes.
- Visit the website Dialabank
- Go to the loan section and click on the personal loan link.
- The applicant will be directed to all details like name, location, etc. where they can choose their preferred city.
- For more information and free guidance about personal loan government employees, you may call on 9878981166.
Processing Fees / Prepayment Charges for Personal Loan for Gujarat Government Employees
Most of the institutions and banks charge two types of payments from their customers. Every Bank and NBFC charges a fee for processing your Personal Loan Government Employees Gujarat application. The processing fee for getting a personal loan from government employees Gujarat is 1% of the loan amount.
If you want to foreclose your loan before the agreed loan tenure, every lending institution charges you a penal prepayment fee. In most cases, you cannot close your loan before 12 months. Post that the charges vary depending on how many years the loan has been done. These charges vary from 4% of the outstanding loan amount in the 2nd year to 2% in the 4th year of the loan.
Personal Loan For Gujarat Government Employees EMI Calculator
Equated Monthly Installments also know as EMI are the monthly fixed charges that you pay to the bank as monthly repayment for the loan amount borrowed. On the basis of your profile, the personal loan interest rate on your loan is decided. Your EMI is calculated basis the Rate of Interest you are charged by the bank and the amount of loan you have to take and the duration for which you enjoy the loan.
For the calculation of your EMI: Personal Loan EMI Calculator
CIBIL Score Required for Personal Loan For Gujarat Government Employees
Every lending institution has its own criteria for the minimum CIBIL score required for processing a Personal Loan For Gujarat Government Employees application. Most institutions require a minimum score of 750 to process your Personal Loan for Gujarat Government Employees application.
The institutions don’t just look at the overall score but also the detailed behaviour on the previous loans that you have taken. This comprises details on the type of loan taken and the amount borrowed. Any late payments for previous loans can act as a barrier to getting a new loan.
Personal Loan For Gujarat Government Employees Pre-Calculated EMI Table
Personal Loan For Government Employees Agent in Gujarat
Dialabank is the leading and most trustworthy agent for availing of the Personal Loan For Government Employees Gujarat. It helps in providing you the best offers as per your preference.
You can apply online at www.dialabank.com or give a call at 9878981166.
Personal Loan For Gujarat Government Employees Contact Number
Call 9878981166 and get instant help and approval for a Personal Loan for Government Employees in Gujarat.
FAQs for Personal Loan For Gujarat Government Employees
✅ Who can apply for a personal loan for a government employee in Gujarat?
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 Gujarat government employees?
The interest rate for getting a personal loan for government employees in Gujarat is 9.99% per annum.
✅ What is the loan tenure for getting a personal loan for government employees?
The loan tenure is ranging from 12 months to 60 months for getting a personal loan for government employees.
✅ What is the age requirement for the availing of a personal loan for government employees in Gujarat?
The minimum age required is 21 years and the maximum age is 60 years for availing of a personal loan for Gujarat government employees.
✅ What is the maximum age limit for pensioners applying for a personal loan?
The maximum age limit for pensioners is 76 years who want to apply for a personal loan.
✅What is the processing fee charged for a personal loan for Gujarat government employees?
The processing fee charged for a personal loan for Gujarat government employees is 1% of the loan amount.
✅ What will be the loan tenure available for a personal loan for government employees?
The loan tenure available for a personal loan for Gujarat government employees will vary from 12 months to 60 months.
✅ What is the minimum income requirement for government employees for the availing of a personal loan in Gujarat?
A government employee must have a minimum income of Rs. 15,000 per month for availing of a personal loan in Gujarat.
✅ For what purpose of being a Gujarat 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.
