Personal Loan Under Special Retail Lending Scheme for Government Employees

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Personal Loan Under Special Retail Lending Scheme for Government Employees

Personal Loan for government employees with flexible terms, no collateral required, and interest rates starting at 11.25%. Apply now for quick processing.

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Details for Personal Loan Under Special Retail Lending Scheme for Government Employees

The Personal Loan under the Special Retail Lending Scheme for Government Employees offers a flexible and secure financial solution. With no moratorium period, repayments begin the month after disbursement. The loan requires no security, but the applicant’s spouse must join as a co-applicant, or a co-employee’s personal guarantee is required. Interest rates range from 11.25% to 14.95%, making it an affordable option for government employees. Easy processing with competitive terms.

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Loan Amount

Minimum Amount – No limit Maximum quantum of loan per individual is Rs.25 lakh subject to repayment capacity and other guidelines of the scheme for maximum quantum.

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Interest Rate

11.25% to 14.95%

Age

  • Minimum age of the applicant should be 18 years.

CIBIL Score

  • A CIBIL score of 730 or above is generally considered good for approving a personal loan.

Required Documents

  • Proof of Identity - Passport,PAN card,Voter's Identity card and Driving license
  • Proof of Address - Telephone bill,Ration card,Electricity bill and Any letter recognized by the public authority ,Rent agreement
  • Bank Account Statement for the last 6 months
  • Two latest salary slips/current dated salary certificate with the latest form 16 proof of end-use

Nature of Employment

  • Confirmed / permanent employees working at Government organizations (Central / State), PSUs, Central / State Government undertakings, Defense, armed personnel, Ministries / Departments under the Ministries, officers in All India Services, Teaching & non-teaching staff at Government Schools & Colleges.

Features

  • No moratorium period is allowed. The repayment shall commence from succeeding month of first disbursement of loan
  • No security, subject to the condition that Spouse of the applicant must join as co-applicant.
  • In case borrower is single/widow/divorcee, then personal guarantee of one of the co-employee with sufficient means.

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Personal Loan Under Special Retail Lending Scheme for Government Employees EMI Calculator

Principal amount

₹1,00,000

Interest amount

₹542

Total amount payable

₹1,00,542

Your Monthly EMI is ₹8,379
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