Best Banks for Personal Loan For Karnataka 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 Karnataka Government Employees Features
For Karnataka Government Employees, there is an availability of a Personal Loan. Many banks and NBFCs providing personal loans instantaneously for Karnataka government employees. If you want to get a low- Personal Loan interest rate, you must apply through Dialabank.
- Get a loan approval quickly
- Flexible Loan Tenure: Range from 12 to 60 months
- You can avail of the maximum amount of loans is up to Rs. 20 lakh.
- For getting a personal loan for Karnataka Government Employee, your monthly income is Rs. 15,000 minimum.
- Government Employees working in Central & State Government, PSUs, Railways, and Defense can avail of personal loans at attractive interest rates.
- The CIBIL score required for Personal Loan For Karnataka Government Employees is above 750.
Benefits of Personal Loan for Karnataka Government Employees
- Quick Loan Approval: Being a Karnataka government employee, you can avail of loan approval faster. If your eligibility is equivalent to the bank, then your personal loan application will be approved quickly.
- 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 tenure for getting a personal loan for government employees in Karnataka. Refund the loan amount with affordable EMIs.
- Minimal Documents: There is the least documentation required for the availing of a personal loan. An applicant requires to submit a few documents.
- Maximum Loan Amount: You can get a maximum loan amount of up to Rs.20 lakh for meeting all your financial needs that can easily be attained without any trouble.
- Online Process: For an online process, it is a smooth and fast process, wherein just a few steps an applicant can apply and get the loan amount.
Purposes of Personal Loan For Karnataka Government Employees
- For Wedding expenses or any other Family function.
- For the education of self or family.
- For the refurbishing or renovation of your house.
- Finances required for Emergencies & medical expenditures.
- Finances can be used to go on a vacation.
Types of Government Employees Personal Loan Karnataka
Public sector Undertakings (PSUs) or CPSEs
Employees are offered high loan amounts with the top in 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 majority of posts in the Public Sector Banks i.e. more than 50 percent. Thus, these include in the Government categorization for sourcing of Personal Loans.
Personal Loan for Army and Defence Personnel
The Country’s Defence forces comprising the Indian Armed Forces which are the military forces of the country.
Leading Banks provides exclusive rates & discounts on processing fees to the Defence & Army Personnel. Also, offers flexible loan tenure that varies from 12 months to 60 months.
Indian Railways
The Indian Railway’s Gazetted Staff is included in the special government category for Personal Loans.
Personal Loan for Pensioners
Pensioners can avail of a personal loan who are retired personnel of the Central Government, State government & Defence services. After working in the government services for a continuous lifespan, the employees are guaranteed a safe & secure living on retirement.
The pension should be collected in their regular salary banks to pensioners to meet their funds’ requirements for medical expenditures, a child’s wedding, or any other personal use. For the pensioners, 5 years is the loan tenure after retirement time. 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 get out of the loan |
Personal Loan For Karnataka Government Employees Eligibility Criteria
- Profession: For Karnataka government employees, the process is quick and hassle-free. To get a personal loan, workers working in any Public Sector Unit (PSU), central and state government departments, and government schools and colleges.
- Age Criteria: The least age of the applier should 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 amount of the loan. The loan tenure changes from 12 months to 60 months.
- Processing Fees: The processing fees charged for Karnataka government employees for a personal loan is 1% of the loan amount.
- CIBIL score requirement: The CIBIL score required for the Karnataka government employees for getting a personal loan must be 750 and above.
- Job Tenure: The job tenure of the applicant is also taken into consideration by banks before providing a personal loan for Karnataka government employees. For Karnataka government employees who are working for a 1-year minimum, there will not be any trouble in availing of a loan. However, people who have just joined the government job may have to check out with the bank. These are some of the personal loan eligibility criteria.
Documents Required for Personal Loan For Karnataka 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 Karnataka 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 Karnataka Government Employees
If you want to avail of an instant Personal Loan, individuals do not go to the bank’s branch as applicants can apply for it online at Dialabank within minutes.
- Visit the website Dialabank
- Click the loan section and then on the personal loan link.
- The individual will direct fill in all details like name, location, etc. where they can pick their preference city.
- For more info and free guidance about a personal loan for Karnataka government employees, you may call on 9878981166.
Processing Fees / Prepayment Charges for Personal Loan for Karnataka Government Employees
Most of the institutions and banks charge two types of charges from their customers. Every Bank and NBFC charges a fee for processing your Personal Loan For Karnataka Government Employees application. The processing fee for getting a personal loan for Karnataka government employees is 1% of the loan amount.
Every lending foundation charges you a penal prepayment fee if you wish to close the loan before the prearranged loan tenure. In most cases, you will not be capable to close your loan before 12 months. Post that the prepayment charges will rely on the years the loan has been done. Prepayment charges vary from 4% of the outstanding loan amount in the Second year to 2% in the fourth year of the loan amount.
Personal Loan For Karnataka Government Employees EMI Calculator
EMI is the Equated Monthly Installments that are the monthly pre-determined payments that you will have to pay to the bank as monthly repayment for the loan amount that you have borrowed. The interest rate on your loan is determined based on your profile. Your personal loan EMI can be calculated based on the Interest Rate 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 Karnataka Government Employees
Every lending institution has its own norm for the minimum CIBIL score required for processing a Personal Loan For Karnataka Government Employees application. Most institutions require a minimum score of 750 to process your Personal Loan for Karnataka Government Employees application.
The foundations don’t just look at the overall score but also examine the detailed behaviour on the previous loans that you have taken and this includes descriptions of the type of loan taken and the loan amount borrowed. If there are any late payments to your previous loan, then it will act as a barricade in your personal loan application.
Personal Loan For Karnataka Government Employees Pre-Calculated EMI Table
Personal Loan For Government Employees Agent in Karnataka
Dialabank is the leading and most trustworthy agent for availing of the Personal Loan For Government Employees in Karnataka. It assists in providing you with the best offers according to your preference.
You can apply online at Dialabank or you can call at 9878981166.
Personal Loan For Karnataka Government Employees Contact Number
Call 9878981166 and get instant help and approval for a Personal Loan for Karnataka Government Employees.
FAQs for Personal Loan For Karnataka Government Employees
✅ Who can apply for a personal loan for Karnataka government employees?
Personnel working in any public sector unit (PSU), central and state government departments, and government schools and colleges can get a personal loan for Karnataka government employees.
✅ What is the interest rate for a personal loan for Karnataka government employees?
The interest rate for getting a personal loan for Karnataka government employees is 9.99% per annum.
✅ What is the loan tenure for getting a personal loan for Karnataka government employees?
The loan tenure is ranging from 12 months to 60 months for getting a personal loan for Karnataka government employees.
✅ What is the age requirement for the availing of a personal loan for Karnataka government employees?
The minimum age required is 21 years and the maximum age is 60 years for getting a personal loan for Karnataka government employees.
✅ What is the maximum age limit for pensioners applying for a personal loan for Karnataka government employees?
The maximum age limit for pensioners is 76 years who want to apply for a personal loan for Karnataka government employees.
✅ What is the processing fee charged for a personal loan for Karnataka government employees?
The processing fee charged for a personal loan for Karnataka government employees is 1% of the loan amount.
✅ What will be the loan tenure available for a personal loan for Karnataka government employees?
The loan tenure available for a personal loan for Karnataka government employees will vary from 12 months to 60 months.
✅ What is the minimum income requirement for Karnataka government employees for the availing of a personal loan?
The minimum income required for Karnataka government employees is Rs. 15,000 per month for availing of a personal loan.
✅ For what purpose of being a Karnataka government employee, I can get a personal loan?
Yes, 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.
