The Government of Punjab is the supreme governing authority of the state of Punjab and its 22 districts. It employs a significant amount of people. Personal Loan For Punjab Government Employees seems like a go to option to take care of their financial needs.
What is a 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 Punjab Government Employees at www.magicloans.in Apply online to book your personal loan now!
What is the Eligibility to avail a Personal loan For Punjab Government Employees?
Age Criteria | 21-65 years of age. |
Work Experience | Min. 6 months in the current organisation. (Preferred) |
Total Work Exp. | At least 3 years.(Preferred) |
Min. Net Income | At least, Rs. 20000/- per month. (may vary according to profile) |
CIBIL | 720 or more with a good credit history. |
What are the documents needed for availing a Personal Loan?
Identity Proof | Passport; PAN or Aadhar Card; Voter ID; Driving license. 2 Photographs. |
Residential Proof | Passport; Driving License; Voter ID;Electricity bill. |
Income Proof | Latest 3 months’ income slip as well as 6 months’ bank account statement. Also, Form 16 of last 2 years |
Age Proof | Passport, PAN Card, Birth Certificate, Employee ID Card |
What are the benefits offered to Punjab Government Employees?
Interest rates for Personal loans for government employees starts @11.49%. (HDFC Bank and ICICI Bank) |
Special offers available for government employees and public sector undertakings. |
Pensioners: Banks offer loans for pensioners at lowest rates. Maximum age of pensioners to be eligible for a personal loan is capped at 76 years with a maximum loan tenure of 5 years. Banks charge a nominal processing fee for pensioners. |
GOVERNMENT BODY | ADDITIONAL BENEFITS ON PERSONAL LOANS |
Maharatna PSU | >Companies grossing annual net profit of 5000 cr > Presently there are 7 PSU’s like BHEL SAIL, IOC, etc. Personal Loan for these employees start at 11.49% |
Navratna PSU | >There are 17 Navratna companies at present which include Hindustan Aeronautics, Bharat Petroleum etc. Personal Loan for these employees start at 11.49% |
Public Sector Banks | >Banks having a 50% or govt share These include SBI, PNB, Bank of Baroda etc. >Personal Loan for these employees start at 13.25%. |
Railways | >Indian Railways are owned by the Government of India and is managed by the Ministry of Railways >Personal Loans for Railway employees start at 12.25% |
Central Government Enterprise | >University Employees are provided with a host of options to enable them to avail a Personal Loan >Personal Loans rates start at 12.25% |
State Government Enterprise | >University Employees are provided with a host of options to enable them to avail a Personal Loan >Personal Loans rates start at 12.25% |
Fees and Charges
Processing charges | Upto 2% (Varies from bank to bank) |
Pre-closure charges | NIL to 5% on outstanding loan amount. ( Varies from bank to bank ) |