Get a Loan for Government Employees at Attractive Interest Rates with Instant Disbursal.
Are you a government employee? Do you need funds to renovate your home, pay hospital bills, or pay your child’s education fees? If yes, Poonawalla Fincorp offers a Personal Loan for government employees working at the central, state or district level and public sector undertakings or PSUs with competitive interest rates and flexible EMI options.
EMI Calculator for Loan for Government Authorities
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EMI Amount = *
Loan for Government Employees: Interest Rates and Charges
Poonawalla Fincorp offers a loan for central, state and district government employees at affordable interest rates, starting from just 9.99% per annum.
| Interest Rates | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Loan Processing Fees | Up to 3% |
| Lowest EMI per month | Starting from ₹2,124* per Lakh for 60 months |
| Loan Tenure | 12 – 84 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources & 4% If paid from other sources |
| Default Charges | 24% per annum |
| Cheque Bounce Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Hidden Charges | Nil |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.
Loan for Government Employees: Eligibility Criteria
Our eligibility criteria for offering a loan for government workers are simple:
Credit Score
Age
Citizenship
Monthly Income
Employment Category
Work Experience
- Credit Score: 750 and above.
- Age: Between 21 and 60 years.
- Citizenship: The applicant must be an Indian citizen.
- Monthly Income: The applicant must earn a minimum monthly salary of ₹30,000.
- Employment Category: The applicant must be a full-time central, state or district-level government employee or work with a PSU (Public Sector Undertaking).
- Work Experience: Must have at least one year of work experience and at least one month of stable employment with the current employer.
Note: The eligibility criteria mentioned above is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
Loan for Government Employees: Documents Required
Submit a few basic documents to avail the loan:
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KYC
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Address proof
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Income proof
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Financial documents
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Proof of Employment
Note: The above-mentioned list of loan documents is indicative. Additional documents may be required during loan processing.
Features and Benefits of Loan for Government Employees
Avail of loan benefits for government employees by applying for this credit facility from Poonawalla Fincorp with zero collateral, minimal paperwork and faster approval:
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No restriction on usage of the loan amount
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Maximum loan amount of up to ₹50 Lakh
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No collateral needed
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Quick processing and disbursal
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Penalty-free prepayment
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Penalty-free pre-closure
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Flexible repayment tenure
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Complete online process
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Minimal documents required
How to Apply for Loan for Government Employees
- Step 1: Click on ‘Apply Now.’
- Step 2: Fill in the details like DOB, qualification, residential address, etc.
- Step 3: Submit all the necessary documents for verification.
Once your documents are verified, the approved amount will be credited to your bank account.
Apply for Personal Loan For Government Employees within 5 Minutes
Apply
Online
Apply Online
Click on ‘Apply Now’ and complete the application form
Personal
Details
Personal Details
Enter your DOB, qualification, and residential details
Verification
Verification
Submit and upload all details for verification and assessment
Frequently Asked Questions About Loan For Government Employees
The loan for government contractors, teachers and other workers is offered to individuals employed with central or state government bodies or PSUs (Public Sector Undertaking) to help them meet various financial obligations. It is an unsecured loan, meaning you need not provide collateral to get the loan approved. You must meet the simple eligibility requirements, submit the necessary documents, and get instant approval.
All government employees working at the central, state or district level or with PSU (Public Sector Undertaking) are eligible for availing of a loan from Poonawalla Fincorp. We have a simple approval process and minimal documentation for government employees.
Meet our basic eligibility conditions to avail of a loan for government workers:
- Credit Score: 750 and above.
- Age: Between 21 and 60 years.
- Citizenship: The applicant must be an Indian citizen.
- Monthly Income: The applicant must earn a minimum monthly salary of ₹30,000.
- Employment Category: The applicant must be a full-time Central or State Government employee or work with a PSU (Public Sector Undertaking).
- Work Experience: Must have at least one year of work experience and at least one month of stable employment with the current employer.
Note: The eligibility criteria mentioned above list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
If you are a government employee, you can get a loan with Poonawalla Fincorp at a competitive interest rate, starting from 9.99% per annum. The interest rate offered to you may be higher based on your credit score.
At Poonawalla Fincorp, we offer an unsecured loan for central, state and district government employees. This means you need not pledge any asset against the amount you borrow.
When you are planning to avail of a loan for government employees with Poonawalla Fincorp, you can calculate the EMI using the EMI calculator on our website. It is an easy-to-use online tool that provides accurate results. Enter a few basic details like loan amount, interest rate, and tenure to get the EMI amount applicable for your loan instantly.
Yes, if you are a government employee, you can apply for an instant loan for government employees with Poonawalla Fincorp and get the funds to meet your financial obligations.
No. At Poonawalla Fincorp, we have standard terms for all loan applicants. However, as a government employee, you may have a better chance of getting the loan approved without any hassles because of your professional background.
No, taking a loan for central government employees has no effect on your credit score provided you repay the EMIs on time, i.e., on or before the due date. A delay in repaying the EMI even by a single day can lower your credit score.
*Terms & Conditions Apply
