Holding a government job for years gives a sense of security for the long term. Employees working at a state level or a local level government firm can easily apply for a personal loan online in minutes. The purpose of personal loans for government employees can be categorised as – personal loans for travel, wedding, home renovation, medical emergency etc. So, being a government employee the foremost thing you can do before applying for a loan is to check the eligibility criteria, making the loan approval possible.
Through different instant
personal loan apps available in India, government employees can avail of a loan between Rs.50,000 to 5 lakhs. The HeroFinCorp instant loan app is a great deal for getting personal online within 24hours. Government staff can avail a small cash loan up to 1.5 lakh via HeroFinCorp. Being a limited loan amount sanctioned, it is easy to repay and mostly gets cleared in a period of 6 months – 1 year.
Personal loans for government employees are approved based on their credit history and CIBIL score. Proper management of debts and credits reflects a good credit history and maintains an excellent CIBIL score. The eligibility criteria vary from lender to lender.
Eligibility Criteria for Government Employee Personal Loan
Government employees can avail both short-term loans and long-term loans following the basic eligibility criteria and mandatory documents required for loan approval:
- Borrower must be a citizen of India
- Borrower must be working in/with a government firm
- Borrower must fall in an age group of 21 to 58 years
- Borrower must earn at least Rs.15,000 per month
Documents required
- Standard KYC documents - Aadhaar card/Smart Card Driver’s licence/PAN card/Passport
- Income documents – Recent salary slips for salaried individuals and bank statement for self-employed
How to Apply for Personal Loan for Government Employees via HeroFinCorp
It is easy to access and apply for a personal loan as a government employee with few simple steps:
- Download HeroFinCorp Instant Loan App from Google Play Store
- Register/Login with your email id or mobile number
- Locate the loan application form and fill the mandatory fields
- Select the required loan amount, tenure and EMI via the EMI calculator
- Upload soft copies of KYC documents and income proofs
- Wait for verification of loan application and documents
- Once approved, disbursal is done in 24 hours
Get financial band with instant personal loans and be ready to deal with unforeseen challenges.
Here are some features and benefits of a personal loan for government employees
Instant Availability
Loans are approved in the shortest span of time, within 24 hours to 48 hours of a working day.
Financial Stability
Personal loans are approved quickly on time. This provides financial stability and saves borrowers from sinking in financial risks and delays.
Quick Verification
Online loan application is faster and takes only a few minutes to complete. Verification of KYC details is mostly done in real-time which speeds up the sanction and disbursal process, generally in 48 hours.
