IDFC Government Employees Personal Loan

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If you’re a government employee in need of financial assistance, the IDFC First Bank government staff personal loan might just be the solution for you. This loan offers flexible repayment terms, ranging from 12 to 84 months, along with attractive interest rates. IDFC First Bank offers state employees personal loan rates starting at only 10.75%. Additionally, the bank has a quick and easy application process, with loan disbursal taking place within 48 hours of approval. With loan amounts ranging from ₹20,000 to 1 Cr, government employees can use this loan to finance various expenses, such as home renovations, medical bills, or even debt consolidation. Overall, IDFC First Bank’s Personal Loan for government employees is a great option to consider when in need of urgent financial assistance.

IDFC First Bank Personal Loan for Government Employees – Highlights

Here are the highlights of IDFC First Bank government employees personal loans.

Feature	Description
Interest Rate	Starting from 10.75%
Loan Amount	₹20,000 – 1 Cr
Tenure	6 – 60 months
Any Hidden Charges	No hidden charges

Comparing IDFC First Bank Loan with other banks

IDFC First Bank is one of the leading banks in India, offering the IDFC First Bank government staff personal loans up to ₹1 Crore. While there are many banks offering personal loans for government employees, the interest rates may vary. Here is a comparison of IDFC First Bank government employee personal loan interest rates with other banks.

Feature	IDFC First Bank	Union Bank of India	ICICI Bank	Axis Bank	HDFC Bank
Interest Rate Minimum	10.75%	11.40%	10.65%	10.49%	10.49%
Interest Rate Maximum	36%	12.65%	16%	22%	24%

IDFC First Bank Personal Loan for Government Employees – Fees and Charges

Here are the fees and charges applicable on IDFC First Bank federal government employee personal loans.

Types of Fees	Applicable Charges
Processing fees	Up to 3.5% of Loan Amount
Late payment fees	Up to 2% of the unpaid EMI or up to ₹300, whichever is higher
EMI Pickup/Collection Charge	Up to ₹500/-
Physical Statement of Account/Repayment Schedule	Up to ₹500/- per statement
Loan Foreclosure	5% of principal outstanding.

IDFC First Bank Personal Loan for Government Employees – Documents Required

The IDFC First Bank central government employee personal loan requires the following documents to process the loan.

PAN Card or Form 60
Identity Proof & Address Proof issued by the authority of the State or Central Government.
Proof of Income – Salary slips of 3 months Salary Slip
Job Card issued by NREGA duly signed by an officer of the State Government (if available).
Ownership of collateral (if any) – Sales Deed, latest Electricity bill or Property tax bill, etc.
ITR of previous 2 years.

IDFC First Bank Personal Loan for Government Employees – Eligibility Criteria

The criteria for IDFC First Bank personal loan eligibility for government employees is strict but straightforward for all government employees.

Criterion	Requirement
Age Group	Minimum 23 years Maximum 60 years of age at the time of loan maturity.
Type of Employment	State government employee Central government employee
Minimum Income	₹20,000
Credit Score	Minimum score of 700