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 Civil Defence personnel at magicloans.in. So, Apply online to book your personal loan now.
Civil defence or civil protection is an effort to protect the citizens of a state from military attacks and natural disasters. It uses the principles of emergency operations: prevention, mitigation, preparation, response, or emergency evacuation and recovery.
What is the eligibility for a personal loan for Civil Defence 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. |
|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 Civil Defence 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.