Government Employees Can Get a Personal Loan in MinutesHolding 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 SimplyCash 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 SimplyCash. 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 LoanGovernment 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
- 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 SimplyCashIt is easy to access and apply for a personal loan as a government employee with few simple steps:
- Download SimplyCash 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