Best Banks for Personal Loan For Kerala 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 Kerala Government Employees Features
For Kerala Government Employees, there is an availability of a Personal Loan. Many banks and NBFCs providing personal loans instantaneously for Kerala government employees. For getting a low-interest rate Personal Loan, you must apply through Dialabank.
- Get a loan approval faster
- Flexible Loan Tenure: Range from 12 to 60 months
- The maximum loan amount you can take is up to Rs. 20 lakh.
- For getting a personal loan for Kerala 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.
- There is a requirement of the CIBIL score for Personal Loan For Kerala Government Employees which is above 750.
Benefits of Personal Loan for Kerala Government Employees
- Quick Loan Approval: Being a Kerala government employee, you can get the loan approval faster. If your eligibility matches the bank, then your personal loan application will be accepted quickly.
- Fastest Disbursal: The loan amount will be disbursed faster in your bank account if your loan will get approved quickly,
- Easy Repayments: For availing of a personal loan for government employees of Kerala, there are options of repayments with flexible loan tenure.
- Minimal Documents: There are the least documents required for getting a personal loan. An applicant needs to present a few documents.
- Maximum Loan Amount: You can get a maximum loan amount of up to Rs.20 lakh for fulfilling all your financial requirements that can easily be acquired without any problem.
- Online Process: Online process is a smooth and convenient process, wherein just a few steps an applicant can apply and get the loan amount.
Purposes of Personal Loan For Kerala Government Employees
- Expenses for a Wedding or any other Family function.
- For the educational purposes of self or family.
- Funds are required for the renovation or refurbishing of your house.
- Finances for Emergencies & medical expenses.
- Personal Loan finances can be used for a vacation.
Types of Government Employees Personal Loan Kerala
Public sector Undertakings (PSUs) or CPSEs
Government Employees are offered increased 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%. Thus, these include in the Government categorization 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 country’s military forces.
Leading Banks providing special rates & discounts on processing fees to the Defence & Army Personnel. Bank also offers flexible loan tenure that differs from 12 months to 60 months.
Indian Railways
The Gazetted Staff of the Indian Railway is involved in the exclusive government category for Personal Loans.
Personal Loan for Pensioners
Pensioners can avail of a personal loan who is a retired employee of the Central Government, State government & Defence services. After serving in the government services for a complete lifespan, the employees are guaranteed a secure & safe livelihood on retirement.
The pension should be collected in their regular salary banks to pensioners to meet their funds’ requirements for medical expenses, 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 Kerala Government Employees Eligibility Criteria
- Profession: For Kerala government employees, the process is quick and trouble-free. For getting 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 applicant 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 loan amount and the loan tenure differs from 12 months to 60 months.
- Processing Fees: The processing fees charged for Kerala government employees for a personal loan is 1% of the loan amount.
- CIBIL score requirement: The CIBIL score required for the Kerala 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 Kerala government employees. For Kerala government employees who are working for a one-year minimum, there will not be any trouble in availing of a loan. However, people who have joined government service earlier may have to check out with the bank.
Documents Required for Personal Loan For Kerala Government Employees
For Salaried Class Individuals
- Anyone Photo Identity Evidence: Passport, Voter’s ID, PAN Card, Driving License, or Aadhar Card
- Anyone House 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 Kerala 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 Kerala Government Employees
If you want to get an instant Personal Loan, individuals do not require 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 then go to the link for a personal loan.
- The individual will be directed to fill in all details like name, location, etc. where they can choose their favourable city.
- For more info and free assistance regarding a personal loan for Kerala government employees, you may call on 9878981166.
Processing Fees / Prepayment Charges for Personal Loan for Kerala 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 Kerala Government Employees application. The processing fee for getting a personal loan for Kerala government employees is 1% of the loan amount.
Every lending foundation charges you a penal prepayment fee if you want to close the loan before the predetermined loan tenure. In most cases, you may 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 will vary from 4% of the outstanding loan amount in the 2nd year to 2% in the 4th year of the loan amount.
Personal Loan For Kerala Government Employees EMI Calculator
EMI is the Equated Monthly Installments that are the monthly pre-determined charges that you have to pay to the bank as monthly repayment for the loan amount that you have borrowed. The interest rate on your loan is decided on the basis of your profile. Your personal loan EMI can be calculated on the basis of 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 Kerala Government Employees
Every lending institution has its own norm for the minimum CIBIL score required for processing a Personal Loan For Kerala Government Employees application. Most institutions require a minimum score of 750 to process your Personal Loan for Kerala Government Employees application.
The foundations don’t just look at the overall score but also check out the detailed and descriptive behaviour on the previous loans that you have taken and this comprises descriptions on 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 hurdle in your personal loan application.
Personal Loan For Kerala Government Employees Pre-Calculated EMI Table
Personal Loan For Government Employees Agent in Kerala
Dialabank is the leading and most trustworthy agent for availing of the Personal Loan For Government Employees in Kerala. It helps in providing you with the best offers according to your preference.
You can apply online at Dialabank or you can contact me at 9878981166.
Personal Loan For Kerala Government Employees Contact Number
Call 9878981166 and get instant help and approval for a Personal Loan for Kerala Government Employees.
FAQs for Personal Loan For Kerala Government Employees
✅ Who can apply for a personal loan for Kerala 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 Kerala government employees.
✅ What is the interest rate for a personal loan for Kerala government employees?
The interest rate for getting a personal loan for Kerala government employees is 9.99% per annum.
✅ What is the loan tenure for getting a personal loan for Kerala government employees?
The loan tenure is ranging from 12 months to 60 months for getting a personal loan for Kerala government employees.
✅ What is the age requirement for the availing of a personal loan for Kerala government employees?
The minimum age required is 21 years and the maximum age is 60 years for getting a personal loan for Kerala government employees.
✅ What is the maximum age limit for pensioners applying for a personal loan for Kerala government employees?
The maximum age limit for pensioners is 76 years who want to apply for a personal loan for Kerala government employees.
✅ What is the processing fee charged for a personal loan for Kerala government employees?
The processing fee charged for a personal loan for Kerala government employees is 1% of the loan amount.
✅ What will be the loan tenure available for a personal loan for Kerala government employees?
The loan tenure available for a personal loan for Kerala government employees will vary from 12 months to 60 months.
✅ What is the minimum income requirement for Kerala government employees for the availing of a personal loan?
The minimum income required for Kerala government employees is Rs. 15,000 per month for the availing of a personal loan.
✅ For what purpose of being a Kerala 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.
