Know how a government employee can get a personal loan

Explore personal loans for government employees, its benefits, eligibility criteria, and application processes, and more.
Know how a government employee can get a personal loan
5 min read
05 May 2023

India's banking and financial services business has changed in recent years. Getting a loan used to be difficult. However, many NBFCs and banks are now offering a variety of loans with a hassle-free process and minimal documentation.

Any individual who is employed can apply for a personal loan, including government officials. There are no limits on applying for a personal loan if you work for the government of India, whether central, state or a public sector undertaking (PSU).

Personal loans for government employees can be used to cover any big or small expenses, such as medical crises, weddings, higher education, home renovations or others.

Can government employees get a personal loan?

Yes, many financial institutions, including NBFCs offer personal loans to government employees. However, the amount, repayment period and personal loan interest rates will differ from lender to lender.

You must verify your credit score to make sure it is in good shape before applying for a loan. Your chances of getting the loan accepted will rise if you have a good credit score. You will also be able to negotiate the interest rates better.

Bajaj Finance offers personal loans of up to Rs. 40 lakh to government employees with minimal documentation, simple eligibility criteria, and rapid disbursement.

How to apply for a personal loan for government employees?

Government employees shall follow these simple steps to apply for our personal loan:

  • Visit the personal loan page on our website
  • Click on ‘APPLY’ to open the online application form
  • Enter your 10-digit mobile number and verify the OTP that is sent to it
  • Fill out the application form with your basic details, such as your full name, PAN, date of birth, and PIN code
  • Now, click on ‘PROCEED’ to visit the loan selection page
  • Enter the loan amount that you want and choose from our three flexi loan variants –Term, Flexi Term, and Flexi Hybrid
  • Choose the repayment tenure between 6 months to 96 months and click on ‘PROCEED’
  • Complete your KYC and submit your application

What are the unique features of Bajaj Finserv Personal Loans for government employees?

Let us take a closer look at a few more perks of getting our personal loan for government employees:

Fast disbursal of funds

One of the best features of our personal loan is that the money is disbursed quickly into your bank account. Once we review and approve your loan application, the money is deposited into your bank account within 24 hours.

Flexi benefits

We also have a Flexi option for our personal loans, which includes the Flexi Term Loan and the Flexi Hybrid Loan. These allow you to borrow from your sanctioned loan limit freely and part-prepay based on your needs without incurring any additional fees. You only must pay interest on the money that you have borrowed. You can also lower your monthly instalments by choosing the Flexi Hybrid Loan that helps you reduce the initial EMIs by repaying only the interest on your loan.

Flexible tenures

You can manage your personal loan easily as you have between 6 months and 96 months to pay it back. You can also use a personal loan EMI calculator to figure out your monthly payments in advance.

Simple process

The procedure of applying for and receiving a personal loan for government employees is simple and can be accomplished without any hassle. Moreover, there is not much paperwork involved while applying for Bajaj Finserv Personal Loan.

No collateral

Personal loans do not require you to pledge any asset as collateral. As a result, this feature makes personal loans available to everyone with a good credit history and who can earn a decent living.

No hidden charges

There are no hidden charges levied on our personal loans for government employees. Our fees are described on our website and the loan documents. We advise you to take some time to carefully read these before applying for a personal loan.

What are the eligibility requirements for our personal loan for government employees?

The following requirements determine your eligibility for a personal loan for government employees. Anyone can apply for our personal loan online, as long as they meet the basic requirements listed below:

  • Nationality: India
  • Age: 21 years to 80 years*
  • Employed with: Public, private, or MNC
  • CIBIL Score: 685 or higher
  • Monthly salary: Starting Rs. 25,001, based on the city you live in

*You should be 80 years* or younger, at the end of the loan tenure.

What all documents are required for a government employee to get a Bajaj Finserv Personal Loan?

You must submit the following paperwork once you have satisfied all eligibility conditions to finish the application process:

  • KYC documents: Aadhaar/ PAN card/ passport/ voter’s ID
  • Employee ID card
  • Salary slips for the last 3 months
  • Bank account statements for the previous 3 months

There are several benefits of availing of a personal loan for government employees. Our personal loans come with quick disbursal and competitive interest rates. Visit our personal loan page to apply for a loan in just a few easy steps.

Apply for a personal loan online


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