Best Banks for Personal Loan For Madhya Pradesh 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 Madhya Pardesh Government Employees Features
For Madhya Pradesh Government Employees, there is an availability of a Personal Loan. Many banks and NBFCs providing personal loans instantaneously for Madhya Pradesh 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
- Get the loan amount is up to Rs. 20 lakh.
- For getting a personal loan for Madhya Pradesh Government Employee, your monthly income is Rs. 15,000 minimum.
- Personnel 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 Madhya Pradesh Government Employees, which is above 750.
Benefits of Personal Loan for Madhya Pradesh Government Employees
- Quick Loan Approval: Being a Madhya Pradesh government employee, you can get the loan approval faster. If your eligibility is equivalent to the bank, then your personal loan application will be approved faster.
- Fastest Disbursal: If you get the loan approval 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 Madhya Pradesh. Refund the loan amount with reasonable EMIs.
- Minimal Documents: There are the least documents required for getting a personal loan. An applicant requires to present a few documents.
- Maximum Loan Amount: You can get a loan amount of up to Rs.20 lakh maximum for fulfilling all your financial needs that can easily be attained without any problem.
- Online Process: Online process is smooth, easy, and convenient, wherein in just a few steps, an applicant can apply and get the loan amount.
Purposes of Personal Loan For Madhya Pradesh Government Employees
- For a Wedding or any other occasion expenditures.
- For the educational expenses of self or family.
- Funds are required for the renovation or refurbishing of your house.
- Finances required for Emergencies & medical expenditures.
- Personal Loan finances may be used to go on a vacation.
Types of Government Employees Personal Loan Madhya Pradesh
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 categories I & II guidelines based on their financial performance, net worth, revenue & profit as MAHARATNA /NAVRATNA/MINI RATNA.
Public Sector Banks
The Indian government holds on to most posts in the Public Sector Banks, (i.e. more than 50%). Thus, these covers in the Government categorization for sourcing of Personal Loans.
Personal Loan for Army and Defence Personnel
The Defence forces of the country involving the Indian Armed Forces, which are the Country’s military forces.
Leading Banks provides special rates & discounts on processing fees to the Defence & Army Personnel. Also, it offers flexible loan tenure that starts from 12 months up to 60 months.
Indian Railways
The Gazetted Staff of the Indian Railway is included in the exclusive government classification for Personal Loans.
Personal Loan for Pensioners
Pensioners can avail of a personal loan who are retired employees of the Central Government, State government & Defence services. After serving in the government services for a continuous lifetime, the employees are guaranteed a safe & secure living on retirement.
The pension should be received in their official income banks to pensioners to meet their funds’ requirements for medical expenditures, a child’s wedding, or other personal use. The loan tenure for the pensioners is 5 years after the retirement date. 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 Madhya Pradesh Government Employees Eligibility Criteria
The eligibility criteria may vary between Salaried and Self-Employed.
- Profession: For Madhya Pradesh government employees, the process is quick and hassle-free. To avail a personal loan, workers working in any public sector unit (PSU), central and state government departments, and government schools and colleges.
- Age Criteria: The applier must be at least 21 years old, and the maximum age is 60 years at loan maturity.
- Loan Tenure: You can repay the loan amount with a flexible loan tenure—the variation in loan tenure from 12 months to 60 months.
- Processing Fees: The processing fees charged for Madhya Pradesh government employees for a personal loan is 1% of the loan amount.
- CIBIL score requirement: The CIBIL score required for the Madhya Pradesh 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 Madhya Pradesh government employees. For Madhya Pradesh government employees working for a 1-year minimum, there will not be any issue in availing of a loan. However, people who have joined the government service earlier may have to check out with the bank.
Documents Required for Personal Loan For Madhya Pradesh 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 Madhya Pradesh 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 |
More About: Interest Rates on Personal Loan
How to Apply for Personal Loan For Madhya Pradesh Government Employees
If you want to get an instant Personal Loan, individuals do not need to visit the bank’s branch as applicants can apply for it online at DialaBank.com within minutes.
- Visit the website Dialabank.
- Click the loan section and then on the link of a personal loan.
- The applicant will be directed to fill in all details like name, location, etc., to select their favourable location.
- For more info and free assistance regarding a personal loan for Madhya Pradesh government employees, you may call 9878981166.
Processing Fees / Prepayment Charges for Personal Loan for Madhya Pradesh Government Employees
Most of the institutions and banks charge two types of charges from their customers. First, every Bank and NBFC charges a fee for processing your Personal Loan For Madhya Pradesh Government Employees application. The processing fee for getting a personal loan for Madhya Pradesh government employees is 1% of the loan amount.
Every lending organization charges you a penal prepayment fee to close the loan before the fixed loan tenure. Most of the time, you can not close your loan before 12 months. After that, the prepayment charges will rely on the years the loan has been done. Prepayment charges differ from 4% of the outstanding loan amount in the 2nd year to 2% in the 4th year of the loan amount.
Personal Loan For Madhya Pradesh Government Employees EMI Calculator
EMI is the Equated Monthly Installments. These are the monthly pre-determined payments you will pay to the bank as a monthly refund for the loan amount you have borrowed. The rate of interest on your personal loan is determined based on your profile. Therefore, your EMI can be calculated based on the Interest Rate charged by the bank, 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 Madhya Pradesh Government Employees
Every lending institution has its own norm for the minimum CIBIL score required for processing a Personal Loan For Madhya Pradesh Government Employees application. Most institutions require a minimum score of 750 to process your Personal Loan for Madhya Pradesh Government Employees application.
The foundations also examine the detailed and descriptive behaviour of the previous loans you have taken. This comprises descriptions of the type of loan taken and the loan amount borrowed. If there are any late payments to your previous loan, it will act as a barrier to your personal loan application.
Personal Loan For Madhya Pradesh Government Employees Pre-Calculated EMI Table
Click here to know more about- EMI Calculator
Personal Loan For Madhya Pradesh Employees Agent in Chhattisgarh
Dialabank is the leading and most trustworthy agent for availing the Personal Loan For Government Employees in Madhya Pradesh. It guides you in providing the best offers as per your preference.
Apply online at Dialabank, or you can contact 9878981166.
Personal Loan For Madhya Pradesh Government Employees Contact Number
Call 9878981166 and get instant help and approval for a Personal Loan for Madhya Pradesh Government Employees.
FAQs for Personal Loan For Madhya Pradesh Government Employees
✅ Who can apply for a personal loan for Madhya Pradesh government employees?
Personnel working in public sector units (PSU), central and state government departments, and government schools and colleges can get a personal loan for Madhya Pradesh government employees.
✅ What is the interest rate for a personal loan for Madhya Pradesh government employees?
The interest rate for getting a personal loan for Madhya Pradesh government employees is 9.99% per annum.
✅ What is the loan tenure for getting a personal loan for Madhya Pradesh government employees?
The loan tenure ranges from 12 months to 60 months for getting a personal loan for Madhya Pradesh government employees.
✅ What is the age requirement for the availing of a personal loan for Madhya Pradesh government employees?
The minimum age required is 21 years, and the maximum age is 60 years for getting a personal loan for Madhya Pradesh government employees.
✅ What is the maximum age limit for pensioners applying for a personal loan for Madhya Pradesh government employees?
The maximum age limit for pensioners is 76 years who want to apply for a personal loan for Madhya Pradesh government employees.
✅ What is the processing fee charged for a personal loan for Madhya Pradesh government employees?
The processing fee charged for a personal loan for Madhya Pradesh government employees is 1% of the loan amount.
✅ What will be the loan tenure available for a personal loan for Madhya Pradesh government employees?
The loan tenure available for a personal loan for Madhya Pradesh government employees will vary from 12 months to 60 months.
✅ What is the minimum income requirement for Madhya Pradesh government employees for the availing of a personal loan?
The minimum income required for Madhya Pradesh government employees is Rs. 15,000 per month to avail of a personal loan.
✅ For what purpose of being a Madhya Pradesh government employee I can get a personal loan?
Yes, you can get a personal loan 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.
