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Personal Loan for ONGC Employees

Personal Loan Offers for ONGC Employees: Highlights

Last Updated 18th Oct 2021

  • ONGC employees can get personal loans online & offline from top banks and NBFCs.
  • Currently, Axis Bank offers the lowest personal loan rate of 10.25%. However, many banks offer additional discounts on personal loan rates for Oil And Natural Gas Corporation employees.Check Other Bank Rates
Lowest Interest Rate10.25%
Processing Fee0.75% Min ₹ 4,999 and Max ₹ 1
Loan Amount₹ 5,000 to ₹ 75 Lakh
Loan TenureUpto 60 months
Lowest EMI per Lakh₹ 2,137
Apply for Personal Loan @ 10.25%* Get upto ₹ 1,000* Cashback

Personal Loan for ONGC Employees: Details

With ONGC being one of India's prominent Energy companies, the employees of Oil And Natural Gas Corporation can get attractive rates and benefits on a personal loan. One of such benefits is that you are not required to submit any security or collateral to avail of the loan. Also, you can avail of the loan without restrictions on the end-usage of funds for personal or business use.

Attractive Personal Loan Features for ONGC Employees

  • Low-Interest Rates : ONGC is considered the Super A category by most banks; thus, the employees of Oil And Natural Gas Corporation will get a lower interest rate than the regular personal loan rates.
  • Quick Approval : If you meet all the income and credit score eligibility criteria, then the bank will give you instant approval on your loan.
  • Minimum Documentation : Working in Oil And Natural Gas Corporation makes you eligible to get a personal loan with minimal documentation.

Other Benefits for Employees working in ONGC

  • Cashback of up to ₹ 1,000* if you avail personal loan through MyLoanCare.
  • Personal loans of up to ₹ 50 Lakh for various needs such as planning travel or wedding, medical expenses, child’s education etc.
  • Flexible loan tenure ranging from 1 months to 60 months on personal loan for ONGC employees.

What are the Eligibility Criteria for ONGC Employees to Avail Personal Loan?

The employees working at ONGC needs to fulfil the following eligibility criteria:

  • Age : 21 years to 60 years
  • Current Work Experience : Minimum 1 month
  • Total Work Experience : Minimum 1 month
  • Minimum Income : ₹ 10,000 per month
  • CIBIL Score : 650 and above
  • Minimum Loan Requirement : ₹ 5,000

What are the Interest Rates, Processing Fees and Other Charges for ONGC Employees?

BanksInterest RateProcessing FeePrepayment Charges
Axis Bank
Compare
10.25% - 14.99%0.75% Min ₹ 4,999 and Max ₹ 1
  • Part Prepayment is allowed after 1 EMI at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%
  • Foreclosure is allowed after 1 EMI. For Loan Amt Approved of 10 Lacs and above-- 0% FC charges after 12 EMIs if closure through OWN FUNDS,1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%
ICICI Bank
Compare
10.25% - 14.49%1.50% Min ₹ 3,999
  • Part Prepayment is not permitted
  • Foreclosure is allowed after 6 EMI. 5%
HDFC Bank
Compare
10.25% - 17.00%2.25% Min ₹ 1,999 and Max ₹ 3,999
  • Part Prepayment is allowed after 12 EMI at 2-4%
  • Foreclosure is allowed after 12 EMI. 2 - 4%
Kotak Bank
Compare
10.45% - 10.75%1.49% Min ₹ 3,999
  • Part Prepayment is allowed after 12 EMI at Rs.500/- + GST Charges applicable on part payment. After lock-in period, Customer can pay 20% every year on Principal Outstanding
  • Foreclosure is allowed after 12 EMI. Starting from Rs.999
IndusInd Bank
Compare
10.49% - 16.00%0.49%
  • Part Prepayment is not permitted
  • Foreclosure is allowed after 12 EMI. 4%
IDFC First Bank
Compare
10.49% - 18.00%2.00% Min ₹ 6,999
  • Part Prepayment is allowed after 3 EMI at In case of Smart Personal Loan at Nil Charges
  • Foreclosure is allowed after 12 EMI. 5% foreclosure charges. Can foreclose after 3 months in case of smart personal loan
Yes Bank
Compare
10.70% - 0.00%1.25% Min ₹ 4,999
  • Part Prepayment is allowed after 12 EMI at 2% charges
  • Foreclosure is allowed after 12 EMI. Up to 4%
Standard Chartered Bank
Compare
11.50% - 0.00%1.00%
  • Part Prepayment is allowed after 12 EMI at 2%
  • Foreclosure is allowed after 1 EMI. 5% charges before 12 months, 4% charges after 12 months
Bajaj Finserv
Compare
11.99% - 15.25%1.50%
  • Part Prepayment is allowed after 1 EMI at 2%
  • Foreclosure is allowed after 1 EMI. 4%

What are the Documents Required for ONGC Employees?

The documents requirement for Oil And Natural Gas Corporation employees may vary in banks. In general, you may, however, require to submit the following documents:

  • Identity Proof : Passport; PAN Card; Aadhaar card; Voter ID; Driving license.
  • Address Proof : Passport; Driving License, Voter ID card, Utility bills.
  • Income Proof : Latest 3 months’ salary slip as well as six months’ bank account statement.
  • Age proof : PAN card; Passport; Driving License; Voter ID; Birth certificate, School/ college leaving certificate

How do ONGC Employees get Personal Loan through MyLoanCare?

If you apply for a personal loan through MyLoanCare, you can get a personal loan from top banks and NBFCs at the lowest rates. Along with rates and charges comparison of top banks at one place, other offers that you can avail are:

  • An attractive cashback offers upto ₹ 1,000 on loan disbursement through MyLoanCare.
  • A bonus of up to ₹ 10,000 for each successful referral if you refer your friend or family to avail of a loan through MyLoanCare.

Apply : You will get the best offers on a personal loan based on your eligibility. Click on Apply Now to get a personal loan through MyLoanCare and get instant assistance from our advisor.

Approval : Once you have applied for a personal loan, you can avail of instant personal loans online if you fulfil the leading banks' eligibility criteria. Our advisor will also contact you to provide personalised assistance regarding loan approval, documentation, and availing of additional discounted offers. Once your application is shared with the bank, the bank executive will contact you to confirm the details. Then, based on your credit history and document verification, the loan will be approved.

About Oil And Natural Gas Corporation

ONGC is an abbreviated term of Oil and Natural Gas Corporation is one of the top energy companies in India. It is a government-owned crude oil and natural gas corporation office and produces 70% of Indias crude oil. Also, it is the largest profit-making PSU in India.

Industry Type Energy
Websitehttps://www.ongcindia.com/
HeadquartersNew Delhi
CEOShashi Shanker

Other Type of Loans for ONGC Employees in India

If you want to avail secured loan to purchase a house or want to avail a loan without any Income Proof, here are some other types of loans for ONGC employees in India:

  • Home Loan @6.50%
  • Gold Loan @9.00%
  • Loan Against Property @6.90%

FAQs

What are the extra benefits for ONGC employees while availing Personal Loan?

If you work in a reputed organisation like ONGC, banks and NBFCs offer concessional rates on personal loans. The banks may also provide special offers and cashback if you avail of the personal loan through MyLoanCare.

What is the maximum amount ONGC employees can get for a personal loan?

The eligibility to get the maximum loan amount depends on various factors such as your income, debt-income ratio, CIBIL score etc. Banks, however, provide a maximum loan upto ₹ 50 Lakh if you work with ONGC.

Is there a minimum work experience criteria for ONGC employees?

Yes, every bank has a specific requirement related to current work experience and total work experience for providing personal loans to ONGC employees. Therefore, it would help if you generally had a work experience of 1 month.

Are interest rates for ONGC employees lower than general rates?

In most cases, the personal loan interest rates are lower for ONGC employees. It is because the organisation you work with plays a crucial role in determining personal loan rates. However, if you have a low CIBIL score or have not paid your dues on time, the banks may not be able to provide you with a personal loan at lower rates.

Which bank is best for ONGC employees for availing a personal loan?

ONGC employees can avail of personal loans at the lowest rate of 10.25% as per the current rates. Therefore, Axis Bank offers the lowest personal loan rate. Further, based on customer service, IIFL offers the best customer service on a personal loan, with the highest rating of 4.8/5.


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Personal Loan News - Oct 2021
  • 2021-10-14 : Zavron Finserv Launches Instant Personal Loan Application
    Zavron Finserv- a non-banking financial institution- has introduced an instant personal loan application. This App will help customers to take loans instantly within few minutes that too from their mobile phone. A loan for a minimum of Rs 10,000 and a maximum of Rs 2 lakh is available.
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    Early Salary has announced the Dussehra offer on personal loans by 50% off on processing fees. The interest rate charged by the instant mobile application is Rs. 9 per day.
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    Punjab National Bank (PNB) has launched the 6S Campaign. The campaign consists of schemes like Swabhiman, Samruddhi, Sampark and Shikhar, Sankalp and Swagat. The objective of the campaign is to spread awareness about the development of financial services and accelerate credit growth, improve penetration of social security schemes and drive digital banking push.
  • 2021-10-07 : Bank of Baroda Decreases Personal Loan Rates
    Bank of Baroda has decreased personal loan rates by 25 points to 9.75%. Earlier the personal loan started at 10.00%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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