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Personal Loan for Government Employees

Last Updated 20th Oct 2017
  • Personal loan interest rate for government employee starts @10.99%
  • Special offers available for government employees of India
  • Nil processing fees on personal loan for defence personnel
  • Low personal loan rates for employees of public sector banks
  • Check best personal loan offers available for your profile
  • Apply personal loan online and get cashback upto Rs. 2,500 from MyLoanCare
Apply Personal Loan @ 10.99%*

Compare personal loan interest rates for government employee

HDFC Bank Rates, Processing FeeICICI Bank Rates, Processing Fee
Maharatna10.99% - 13.49%, 1.25% 11.29% , 1.50%
Navratna10.99% - 13.49%, 1.25% 11.50% , 1.50%
PSU Banks13.25% - 15.80%, 1.50% 13.25% - 15.75%, 1.49%
Central Govt. Employees14.75% - 16.75%, 2.00% 10.99% - 15.99%, 1.75%
Railways14.25% - 16.50%, 1.50% 10.99% - 15.99%, 1.75%
State Govt. Employees14.75% - 16.75%, 2.00% 10.99% - 15.99%, 1.75%
Defence14.72% , NIL Processing Fee 14.49% - 14.75%, NIL Processing Fee

Government Employees Personal Loan Eligibility

  • Minimum age of the applicant should be 21 years and maximum 65 years.
  • Government salaried employees with minimum income of Rs. 20,000 per month are eligible for personal loan. Income eligibility may vary depending upon your profile.
  • Bank gives personal loan to those applicants who are at least 6 months experienced in their current job with a total experience of 3 years although it may vary bank to bank.
  • CIBIL score matters as personal loans are unsecured loans. CIBIL score should be 700 or more than that with a good credit history which is equally important to get eligible for personal loan.

Documents Required for Public Sector Personal Loan

  • Signed application form
  • Age proof - Passport, PAN Card, Birth Certificate, Employee ID Card
  • Identity proof - PAN Card, Aadhar Card, Driving License
  • Address proof – Passport, Voter ID Card, Aadhar Card, Utility bills (not more than 3 months old)
  • Income proof – Form 16 of last 2 years, salary slips of last 6 months and last 6 months bank statement


Maximum Annual Percentage Rate (APR) 11.39% to 17.15%
Representative example of the total cost of the loan, including all applicable fees Here is an illustration of the total cost of the loan:
  • Total amount borrowed: Rs. 100,000
  • Time period: 12 months to 60 months
  • Interest Rate: 10.99 % to 16.75%
  • Processing Fee payable to: Upto Rs. 2,000
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From Rs. 2,174 for 60 months Rs. 100,000 loan at 10.99% (lowest rate, longest time period) to Rs. 9,109 for a 12 months Rs. 100,000 loan at 16.75% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 11.39% to 17.15%
    Total cost payable over loan tenure: Rs. 11,303 for 12 months loan to Rs. 32,424 for 60 months loan
 Personal Loan For Government Employees

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.