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Axis Government Employees Personal Loan

Axis Bank Government Employees Personal Loan

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Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

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Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

The Axis Bank government employees’ personal loan takes care of those who take care of us, i.e. our government servants. Offering up to 40 lakhs of rupees in financial assistance to state and central government employees, these loans are extended against a borrower’s income. Having no collateral, easy repayments, and multi-purpose loans make it a high-value product. Personal loans provide a wide range of coverage, from wedding functions to family vacations and urgent medical expenses to vehicle purchases.

This article takes an in-depth look into Axis Bank’s government employee personal loans. Stay tuned for the eligibility criteria, document requirements, and much more!

Axis Bank Personal Loan for Government Employees – Highlights

Axis Bank government staff personal loans come with the following features.

Loan Amount	Up to ₹40 lakh
Rate of Interest (p.a.)	10.49% onwards
Loan Tenure	1-7 years
Collateral Submission	Not required
Digital Applications	Available
Pre-Approved Loans	Available

Comparing Axis Bank Government Employees Loan With Other Lenders

Personal loan is one of the most popular banking products. Here is a quick comparison of Axis Bank’s personal loan with other banks and NBFCs.

Bank	Interest Rate (per annum)	Loan Tenure
HDFC Bank	10.50% onwards	Up to 6 years
State Bank of India	10.55% onwards	Up to 6 years
Citibank	10.75% onwards	Up to 5 years
Kotak Mahindra Bank	10.99% onwards	Up to 6 years
L&T Finance	12% onwards	Up to 4 years
KreditBee	16% onwards	Up to 2 years

Axis Bank Personal Loan for Government Employees – Fees and Charges

Apart from the Axis Bank state employees’ personal loan rates, borrowers are required to pay the following charges:

A processing fee of up to 2% of the loan amount plus GST
An 18% Goods and Services Tax (GST) on all banking services
Other charges like document verification, stamp duty, etc.

Axis Bank Government Staff Personal Loan- Documents Required

Central and state government employees need to submit the following documents while applying for a personal loan at Axis Bank.

Duly filled loan application form

KYC Documents: Aadhar Card, Voter’s ID, Valid Passport, Utility Bills and other documents
Income Documents: Salary slips of 2 months/ Bank statements of 2 months/ employment proof of one year.

Axis Bank Personal Loan for Government Employees – Eligibility Criteria

Axis Bank personal loan eligibility for government employees is as follows:

Eligible Borrowers: Employees of central government/ state government/ PSUs/ local bodies
Age Limit: 21-60 years
Minimum monthly income: ₹15,000
High credit score