What is personal loan?
A personal loan is an unsecured loan. It helps you meet your urgent money needs. Therefore, there is no need to give a security. We give the best loan offers on personal loan for Railway Protection Force personnel at www.loannow.in. So, Apply online to book your personal loan now.
The Railway Protection Force is a security force, established by the Railway Protection Force Act, 1957; enacted by the Indian Parliament for “the better protection and security of railway property”
What is the eligibility for a personal loan for Railway Protection Force personnel ?
Age Criteria | 25 – 76 years of age. |
Service | A service record of at least 6 months. |
Income | The net salary 25k month on month. The applicant should draw the minimum salary required for a period of 6 months. |
Account | Except for HDFC Bank, the applicant must be an account holder in the particular bank that he applies to. |
Credit score | First time loan applicants (some banks) & customers with a good credit history are eligible. |
Loan amount | Maximum cap on loan amount can be decided as per salary or age of applicant. Upto 30 lacs. |
What are the documents needed for a personal loan?
Identity Proof | Passport; PAN or Aadhar Card;Voter ID; Driving license. 2 Photographs. |
Residence Proof | Passport; Driving License; Voter ID; Rent agreement; Electricity bill. |
Income Proof | Last 3 months income slip + 6 months bank statement. Form 16(1 year) Copy Of service certificate. |
Age Proof | Passport; PAN Card; Birth Cert.; Employee ID Card |
What are the benefits for Railway Protection Force personnel employees?
Interest rates start @10.99%*. |
Tenure– 12-60 months. |
Pensioners: Banks offer loans for pensioners at lowest rates. Maximum age limit is 76 years; loan tenure is 5 years. Zero processing fee for defence pensioners in SBI and HDFC. |
A fixed Rate of Interest is charged @ monthly reducing balance. The EMI remains constant for the tenure granted. The payment of the personal loan is by deduction through ECS from the salary account on a fixed date for the entire tenure. Pre closure & part payment facilities are applicable as per the bank policy.
Fees and Charges
Interest Rates | 10.99% 18% (Varies from bank to bank) |
Processing charges | NIL to 2% (Varies from bank to bank) |
Pre-closure charges | NIL to 5%. (Varies from bank to bank) It is allowed after Payment of 1 EMI in Axis Bank, 6 in ICICI and 12 in HDFC. |