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Personal Loan for Government Employees
Loan up to Rs 5 Lakh
Minimum Salary Required ₹15K
Tenure up to 36 Months
Instant Approval in 10 Minutes
Personal Loan For Government Employed EMI Calculator
Get Personal Loan for Government Employees Up to 5 Lakh
Are you a government employee who needs urgent money for any unforeseen or pre-planned expenditure? Apply for a Personal Loan for Government Employees of up to Rs 5 Lakh from Hero FinCorp online and receive approval within 10 minutes.
Our Personal Loans can be easily applied by any government employee with a minimum monthly salary of Rs 15,000 only. There is no need to provide any security or collateral as these loans are unsecured.
Our Personal Loans are available at competitive interest rates starting from 1.58% per month and flexible repayment tenures of 12 to 36 months. The best part is that you can use the loan amount for any planned or unplanned expense.
Features and Benefits of Personal Loan For Government Employees
Before you apply for a Personal Loan, you should check out the features and benefits of these loans. Here are the key advantages and features of Hero FinCorp’s Personal Loan for Government Employees
Hassle free documentation
Enjoy a fully paperless process, saving time on verification.
Attractive interest rate
Government employees with high credit scores can get attractive loan interest rates.
Customize your loan amount & EMI
Use the Personal Loan Calculator to find a suitable loan plan with manageable EMIs by changing the loan amount and tenure.
Instant approval
You can get loan approval in 10 minutes when you apply online
Flexible repayment option
Choose a tenure between 12 to 36 months for easy repayment
Safe and secure loan app
Ensure complete safety and confidentiality of your personal details.
Eligibility Criteria for Personal Loan for Government Employees
Personal Loans for government employees follow a set of eligibility criteria that increases the chances of instant loan approval. Hero FinCorp has simple Personal Loan Eligibility Criteria for government employees.
Citizenship
You should be a citizen of India.
Age Requirement
You must be between 21 to 58 years to be eligible for the loan.
Work Experience
You should have at least six months experience in your current job.
Monthly Income
The minimum monthly income required is Rs 15,000.
List of Documents Required for Personal Loan for Government Employees
Here are the key documents required for Personal Loan for government employees. You must keep these handy before applying to ensure a smooth borrowing experience
Proof of Photo Identity
Driving Licence, Passport, PAN Card, Aadhaar card
Proof of Income
Six Months’ Salary Slips & Bank Account Statement, Form 16
Job Continuity Proof
Appointment Letter From the Current Employer
Proof of Residence
Driving Licence, Passport, Aadhaar Card, Utility Bill
Interest Rates and Charges on Personal Loan For Government Employees
Interest rates are crucial when it comes to the overall loan expenses. It is a part of each instalment paid every month. Therefore, you need to check personal loan interest rates before applying.
| Fees & Charges | Amount Chargeable |
| Interest Rate | Starting from 1.58% per month |
| Loan Processing Charges | Minimum 2.5% + GST |
| Prepayment Charges | N.A. |
| Foreclosure Charges | 5% + GST |
| EMI Bounce Charges | Rs 350/- |
| Interest on Overdue EMIs | 1-2% of the loan/EMI Overdue Amount Per Month |
| Cheque Bounce | Fixed Nominal Penalty |
| Loan Cancellation | 1. Online loan app does not charge any cancellation charges 2. Interest amount paid is non-refundable 3. Processing charges are also non-refundable |
How to Apply for Personal Loan for Government employees?
A government employee can be functioning in any role - as a teacher, doctor or bank worker. Any cash crunch or money emergency can be solved or funded by an instant loan online.
Here is the stepwise process to apply for a Personal Loan for government employees online.
- 1
Visit the Hero FinCorp website or install the personal loan app
- 2
Go to the personal loan page and click ‘apply now’
- 3
Enter your mobile number and verify with the OTP received
- 4
Choose the loan amount you need
- 5
Verify your KYC details to check income eligibility
- 6
Click ‘Submit’ to complete your application
Uses of Personal Loan for Government Employees
A personal loan can be used by the government employees for various purposes. Here are the most common uses:
Gadget Purchase
A personal loan for consumer durables can help you buy a premium smartphone, laptop or any home appliance.
Vehicle Repair or Down Payment
You can use an instant personal loan to buy a bike/scooter or make a down payment for a car.
Emergency Fund
An online personal loan can be used to create an emergency fund for emergency situations.
Medical Emergencies
A personal loan for medical emergency is the ideal funding solution when you need money for healthcare-related needs.
Home Renovation
If you want to upgrade your home interiors, kitchen or façade, you can take a personal loan for home renovation and repay in instalments.
Education Expenses
You can take a personal loan for education to handle all education-related expenses like tuition fees and study materials.
Wedding Expenses
You can get approval for a personal loan for wedding within 10 minutes of applying online. It can help you handle all wedding-related expenses.
Travel & Vacation
Use a personal loan for travel for your national or international trips and pay back in monthly instalment in a tenure of up to 36 months.
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Frequently Asked Questions (FAQs)
Yes, government officials can take a Personal Loan of Rs 5 Lakh online from Hero FinCorp. You can apply easily using our website or loan app.
Those working in the government sector can get a Personal Loan of up to Rs 5 Lakh at Hero FinCorp. However, the final loan amount will depend on their eligibility and credit profile.
A government employee can apply for a Personal Loan online through Hero FinCorp’s website or loan app. By meeting the eligibility criteria and submitting essential documents, they can get quick approval and disbursal of up to Rs 5 Lakh without collateral.
Hero FinCorp Instant Personal Loan is a secured Personal Loan app easily available to fulfil your instant cash requirements up to Rs 5,00,000. Besides, the loan application procedure is hassle-free with paperless documentation.
Minimal documents are required when applying for a Personal Loan online. You just need to provide your KYC details and proof of income.
Borrowers between 21 to 58 years of age with a minimum income of 15000/- are eligible to apply for a Personal Loan.
Disclaimer
*Approval & Agreement: Loan approval is at Hero FinCorp's discretion. By applying, you agree to our Terms & Conditions, Privacy Policy, and Loan Agreement.
*Data Use: You consent to electronic processes and data use for loan assessment, as per our Privacy Policy.
*Security: Keep your account and device secure. Report our customer care for unauthorized activity immediately.
*Grievances: For concerns, refer to our Grievance Redressal Policy.
EMI Payment: Refer to our T&Cs here
*RBI Mandate: RBI requires transparent disclosures. Learn more from RBI.