Personal Loan for Railway Employees

Personal Loan for Railway Employees

Railway employees can check their pre-approved offer for Bajaj Finserv Personal Loan with just phone number and OTP.
Loan Types

Loan Types

FAQs

FAQs

Video

Video

Rs. 40000 - Rs. 55 lakh

You may be eligible for a pre-approved offer

Check now

Enter mobile and OTP | Apply online | Get money in a day*

Get a personal loan designed for railway employees with competitive rates and quick approval. 


Are you a railway employee looking for instant funds? Check your pre-approved loan offer in just 2 steps and see what exclusive benefits you qualify for.


Whether you need money for immediate or unplanned expenses, our personal loan for railway employees offers attractive rates and easy approval. Get funds in 24 hours and handle your expenses without delay.

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Features and benefits of personal loan for railway employees

  • Quick approval

    A personal loan for railway employees by Bajaj Finserv offers instant approval within minutes of applying online.

  • Same-day* disbursal

    Upon approval and document verification, the money is transferred to your bank account within 24 hours*.

  • Adjustable tenure

    Pick a period going up to 96 months and use the online personal loan EMI calculator to arrive at a comfortable EMI.


    Pro-tip: Use the EMI calculator to find the perfect balance between tenure and monthly payment that fits your budget.

  • Simple documents

    The personal loan for railway employees requires basic essential paperwork for approval.

  • No-stress application

    Use our easy application form online to apply for a personal loan from the comfort of your home.


    Why this helps: No need to visit branches or wait in lines - complete everything online at your convenience.

  • Zero hidden charges

    There are no undisclosed fees attached to the personal loan. Read the terms and conditions before applying.

  • Flexi personal loan

    Make multiple withdrawals from a dropline limit and pay interest only on the withdrawn funds, with our Flexi loans.

  • Pre-approved offers

    Railway employees can check their pre-approved offer for a personal loan with just the phone number and OTP – no need to visit the branch.

  • Online customer portal

    Use My Account to manage your loan account on the go. Track EMIs, view statements and more with digital account access.

The personal loan for railway employees by Bajaj Finance is a hassle-free solution for your money goals. The attractive rates and charges ensure that you can access funds for your immediate or unplanned expenses. Simply meet the basic eligibility criteria and hand over the necessary documents for verification to get money in the bank without delay.


Borrow up to Rs. 55 lakh and use the funds as needed. The application process is further simplified when using our Personal Loan Eligibility Calculator to estimate your loan amount. That way, you can apply for funding as per your repayment capacity.


Smart move: Use our Flexi Hybrid Term Loan allows you to streamline your finances with interest-only EMIs for an initial tenure of up to 24 months. If you're an existing customer with Bajaj Finance, expect a pre-approved offer for your loan. The personalised offer enables you to get funding swiftly.


*Terms and conditions apply

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Eligibility criteria and documents for personal loan for railway employees

You can easily get the funds you need with the below criteria:

  • Eligibility criteria

    • Nationality: Indian
    • Age: 21 years to 80 years.
    • Employed with: Public, private, or MNC.
    • CIBIL Score: 685 or higher.
    • Customer profile: Self-employed or Salaried

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

  • Documents required

    • KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
    • PAN card
    • Employee ID card
    • Salary slips of the last 3 months
    • Bank account statements of the previous 3 months
    • Piped gas bill
    • Pension order
    • Letter of Allotment of Accommodation Issued by Employer
    • Property / Municipal tax receipt
    • Utility bill
    • Phone bill
    • Real-time image / photograph
    • Ration card

    Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 

Bajaj Finserv offers attractive interest rates on personal loans to ensure easy repayment, with manageable monthly installments that suit your finances.

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How to apply for personal loan for railway employees

  • Follow this simple guide to apply for a personal loan online:


    • Click on ‘CHECK ELIGIBILITY’ on this page.
    • Enter your 10-digit mobile number and the OTP sent to your phone.
    • Check if you have an offer. If not, fill in the application form with your basic loan 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 offer or loan amount that you need. Choose from our personal loan variants.
    • Choose the repayment tenure and click on ‘PROCEED’.
    • Complete your KYC and submit your application.

    Our representative will contact you for further steps.

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Key offerings: 3 loan types

  • Flexi Hybrid Term Loan
  • Flexi Term Loan
  • Term Loan

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    You can pay interest-only EMIs for up to 24 months, after which, the EMI will consist of both, the principal and the interest. EMI is applicable only on the withdrawn amount.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Withdraw and prepay – no extra charges
    You can withdraw from your limit and prepay as many times as you want, without extra charges.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest on the loan amount you withdraw.

  • Flexi facility charges
    Flexi facility charges applicable based on your loan amount.

  • Amount disbursed in one go
    The entire loan amount is disbursed at the start.

  • Instalment pattern
    Fixed EMIs that cover both the principal and interest.

  • Flexi facility charges
    No Flexi facility charges.

Personal loan interest rate and applicable charges

Type of fee

Applicable charges

Rate of Interest per annum

10% to 31% p.a.

Processing fees

Up to 3.93% of the loan amount (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)

  • Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000
  • Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999
  • Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999
  • Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 9,99,999
  • Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999
  • Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999
  • Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999
  • Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999
  • Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above

*All the Flexi facility charges above are inclusive of applicable taxes

*Loan amount includes approved loan amount, insurance premium, and VAS charges.
Principal Holiday Facility Fees
  • Up to Rs.1999/- for loan amount less than Rs.2,00,000
  • Up to Rs.3999/- for loan amount from Rs. 200000 to Rs.399999
  • Up to Rs.5999/- for loan amount from Rs. 400000 to Rs.599999
  • Up to Rs.7,999/- for loan amount from Rs. 600000 to Rs.999999
  • Up to Rs.8,999/- for loan amount from Rs.10,00,000 to Rs. 1499999
  • Up to Rs. 9999/- for loan amount from Rs. 15,00,000 to Rs.19,99999
  • Up to Rs.10,999/- for loan amount from RS. 20,00,000 to RS.2499999
  • Up to Rs.11,999/- for loan amount from RS.25,00,000 to RS. 29,99999
  • Up to Rs. 12,999/- for loan amount of Rs.30,00,000 and above

Above charges are inclusive of applicable taxes & will be deducted upfront from loan amount

*(Loan amount includes approved loan amount, Insurance Premium & VAS Charges)

Bounce charges

Up to Rs. 1,200 per bounce.
“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason

Pre-payment charges

Full pre-payment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.
  • Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
  • Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part pre-payment

  • Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part pre-payment.
  • Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid.

*Foreclosure will be processed post clearance of first EMI

Penal charge

 Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state)

Payable as per state laws and deducted upfront from loan amount.

Annual maintenance charges

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure.

Broken period interest / Pre-monthly Instalment interest

Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows:


EMI Date : 2nd

Scenario 1: If Loan is disbursed on 1st or post 10th of the month:

For Term Loan: BPI amount will be capitalised, i.e added to Principal amount on Due date / Deducted from disbursement
For Flexi Loans: BPI amount will be capitalised, i.e added to Principal amount on Due date / Added to first instalment

Scenario 2: If Loan is disbursed between 3rd and 10th of the month:
First instalment will consist of interest for actual number of days

Note: Additional cess if any, will be applicable to all charges according to state law.

*Terms and conditions apply.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.