What is a 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 State Government Employees at www.loannow.in. So, Apply online to book your personal loan now!

What is the Eligibility to avail a Personal loan For State Government Employees?

Age Criteria	21-65 years of age.
Work Experience	Min. 6 months of experience in the current organisation. (Preferred)
Total Work Exp.	At least 3 years of total experience.(Preferred)
Min. Net Income	At least, Rs. 20000/- per month. (may vary depending upon your profile).
CIBIL	720 or more with a good credit history.

What are the documents needed for availing a Personal Loan?

Identity Proof	Passport; PAN or Aadhar Card; Voter ID; Driving license. 2 Photographs.
Residential Proof	Passport; Driving License; Voter ID;Electricity bill.
Income Proof	Latest 3 months income slip as well as 6 months bank account statement. Also, Form 16 of last 2 years
Age Proof	Passport, PAN Card, Birth Certificate, Employee ID Card

What are the benefits offered on Personal Loan For State Government Employees?

Interest rates for Personal loans for government employees starts @11.49%. (HDFC Bank and ICICI Bank)

Special offers available for government employees and public sector undertakings.

Pensioners: Banks offer loans for pensioners at lowest rates. Pensioners can get a Personal Loan for 5 years provided their age is atmost 76 years

GOVERNMENT BODY	ADDITIONAL BENEFITS ON PERSONAL LOANS
Maharatna PSU	>Companies grossing annual net profit of 5000 cr > There are 7 PSU’s like BHEL, SAIL etc. Personal Loan for these employees start at 11.49%
Navratna PSU	>There are 17 Navratna companies at present which include Hindustan Aeronautics, Bharat Petroleum etc. ROI for Personal Loans start at 11.49%
Public Sector Banks	>Banks having a 50% or govt share These include SBI, PNB, Bank of Baroda etc. >ROI for Personal Loans start at 11.49%
Railways	>Indian Railways are owned by the Government of India. It is managed by the Ministry of Railways ROI for Personal Loans start at 12.25%
Central Government Enterprise	>University Employees are provided with a host of options to enable them to avail a Personal Loan >Personal Loans for Central Govt Employees start at 12.25%
State Government Enterprise	>University Employees are provided with a host of options to enable them to avail a Personal Loan >Personal Loans for Central Govt Employees start at 12.25%

Fees and Charges

Processing charges	Upto 2% (Varies from bank to bank)
Pre-closure charges	NIL to 5% on outstanding loan amount. ( Varies from bank to bank )

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State Divisions

Personal Loan can be availed by a state government employee working in any of these departments

Department of Agriculture	Housing & Urban Development
Power	Water Supply & Sanitation
Education	Transport
Public Works	Health
Excise & Taxation	Education
Technical Education & Industrial Training	Legal & Legislative Affairs
Finance	General Administration
Medical Education & Research	Food, Civil Supplies & Consumer Affairs

Categories of Govt. Employees

CATEGORY	DESCRIPTION	APPLICATION STRENGTH
Group- A	Officials employed at various state-level managerial & administrative positions.	Top applicants in all banks and NBFCs.
Group-B	Employees working in Public Sector Undertakings (PSU) and National Banks, office supervisors, state inspectors, office executives, state police officers etc.	Top applicants in all banks and NBFCs.
Group C&D	Section Heads, Head clerks, Stenographers, tax assistants, Typists, Telephone operators, and individuals holding similar positions in the Armed forces.	Clerical posts are top applicants inGroup C . Group D might get eligibility in some banks depending on the job profile.

Personal Loan For State Government Employees