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RBL Bank Government Employees Personal loan

RBL Bank Government Employees Personal loan

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Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

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Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

RBL Bank Government Employee Personal Loan caters to the distinct needs of government sector employees, allowing them to avail themselves of funds for various personal requirements, whether for home renovation, education, a dream vacation, or emergency financial needs. With competitive interest rates and minimal documentation requirements, RBL Bank ensures a smooth and quick processing experience, making it easier for government employees to manage their finances without unnecessary stress. By choosing RBL Bank’s Government Employees personal loan, borrowers can expect a supportive financial partner committed to helping them achieve their personal goals and aspirations.

RBL Bank Personal Loan for Government Employees – Highlights

Here is a concise tabular representation of the highlights of the RBL Bank Personal Loan for Government Employees:

FEATURE	DESCRIPTION
Target Group	Government Employees
Interest Rate	14 to 23%
Loan Amount	From INR 1 lakh up to INR 20 lakhs
Loan Tenure	12 to 60 months
Collateral	N/A

Comparison of RBL Bank Government Employees Loan with Other Banks

For a comparative overview, let’s compare RBL Bank’s Government Employees Personal Loan with similar products from other banks.

Bank Name	ROI	Processing Fee	Loan Amount	Loan Tenure
Kotak Mahindra Bank	10.99% onwards	Up to 3%	Rs 40 lakh	6 years
Axis Bank	10.49% onwards	Up to 2%	Rs 40 lakh	7 years
SBI	10.55% onwards	Up to 0.75%	Rs 35 lakh	6 years
Union Bank	10.60% onwards	0.50% of the loan amount	Rs 15 lakh	6 years
HDFC Bank	10.50% onwards	Upto Rs 4999	Rs 40 lakh	6 years

RBL Bank Personal Loan for Government Employees- Fees and Charges

Below is a table summarising the potential fees and charges associated with the RBL Bank Government Employees’ Personal Loan.

Fee/ Charge Type	Amount Charged
Interest Rate	Ranging from 14 to 23%
Processing Fee	Up to 3.5% of the loan’s total value
Pre-Payment Fee	3%-5% on the outstanding principal
Overdue Interest	2%

RBL Bank Personal Loan for Government Employees – Documents Required

Here are the required documents you may submit along with your RBL Bank government employee personal loan application:

Identity Proof (Aadhaar/ Passport/ Valid Driving License/ Voter ID Card)
Address Proof (Aadhaar/Voter ID Card/ Valid Driving License/ Valid Passport/ Utility Bill (Electricity/Telephone/Mobile) )
Salary Credit Bank Statements from the last 3 months
Employment Proof: A government-issued employment ID card or the latest Employment Certificate
Recent passport-sized photographs

RBL Bank Personal Loan for Government Employees – Eligibility Criteria

The RBL Bank personal loan eligibility for government employees depends on the following criteria:

The applicant must be a permanent employee of the central or state government, including departments, ministries, and public sector undertakings.
Minimum age at loan sanction – 25 years
Maximum age at loan maturity – lower than 60 years
Work Experience of minimum 1 year at current employment and 3 years of total employment experience
Minimum net monthly income of INR 40,000 per month