What is 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 Special Frontier Force personnel at magicloans.in. So, Apply online to book your personal loan now.
The Special Frontier Force is a paramilitary special force of India created on 14 November 1962. Its main goal originally was to conduct covert operations behind Chinese lines in the event of another Sino-Indian War.
What is the eligibility for a personal loan for Special Frontier Force personnel ?
| Age Criteria | 25 – 76 years of age. |
| Service | A service record of at least 6 months. |
| Income | The net salary 25k month on month. The applicant should draw the minimum salary required for a period of 6 months. |
| Account | Except for HDFC Bank, the applicant must be an account holder in the particular bank that he applies to. |
| Credit score | First time loan applicants (some banks) & customers with a good credit history are eligible. |
| Loan amount | Maximum cap on loan amount can be decided as per salary or age of applicant. Upto 30 lacs. |
What are the documents needed for a personal loan?
| Identity Proof | Passport; PAN or Aadhar Card;Voter ID; Driving license. 2 Photographs. |
| Residence Proof | Passport; Driving License; Voter ID; Rent agreement; Electricity bill. |
| Income Proof | Last 3 months’ income slip + 6 months’ bank statement. Form 16(1 year) Copy Of service certificate. |
| Age Proof | Passport; PAN Card; Birth Cert.; Employee ID Card |
What are the benefits for Special Frontier Force personnel employees?
| Interest rates start @10.99%*. |
| Tenure– 12-60 months. |
| Pensioners: Banks offer loans for pensioners at lowest rates. Maximum age limit is 76 years; loan tenure is 5 years. Zero processing fee for defence pensioners in SBI and HDFC. |
A fixed Rate of Interest is charged @ monthly reducing balance. The EMI remains constant for the tenure granted. The payment of the personal loan is by deduction through ECS from the salary account on a fixed date for the entire tenure. Pre closure & part payment facilities are applicable as per the bank policy.
Fees and Charges
| Interest Rates | 10.99% – 18% (Varies from bank to bank) |
| Processing charges | NIL to 2% (Varies from bank to bank) |
| Pre-closure charges | NIL to 5%. (Varies from bank to bank) It is allowed after Payment of 1 EMI in Axis Bank, 6 in ICICI and 12 in HDFC. |
Why apply via magicloans.in?
Multiple Products from multiple banks under one roof.
Instant online approval.
Expert guidance.