A personal loan can help government employees manage a financial crisis Website : https://www.dutkoworl


Financial emergencies always come unannounced. This can kind of emergencies such as a medical or a financial setback can significantly hamper your finances. Such days can turn into a nightmare if you do not have enough savings in your account. But you can turn this around by availing of a personal loan. Most Indian banks and NBFCs offer favourable personal loans to both private and public sector employees. But, if you are a government employee, availing of a personal loan will become a cakewalk for you. Government employees are given more preference because they have a secured source of income. This means the bank or NBFC will consider you as a more responsible borrower and the risk of default will also be reduced. Moreover, you do not have to pledge any collateral to procure a personal loan.

How can a personal loan help government employees manage a financial crisis?

If you are considering taking a loan, then a personal loan will be the most viable option for you. Additionally, as a government employee, you will be eligible for certain attractive financial offers, features, along with quick disbursal and flexible repayment. For example, the personal loan for Government Employees of Bajaj Finserv can be availed within a day and comes with a flexible tenure which makes the repayment easier and hassle-free. Due to its instant loan option, the personal loan of Bajaj Finserv can come in handy when you have an urgent financial requirement. To apply for a personal loan, you must be well aware of the key aspects that will help you acquire the loan. The list of those aspects is given below. 

Eligibility criteria

Being a government employee, if you are looking to avail of a personal loan to manage your financial crisis, then start by matching the eligibility criteria of the financial institution. More or less, every financial institution has similar criteria and below is a list of those. 


A personal loan is easier to avail of when you are employed in a state, central, or public sector. Individuals employed in government schools and colleges are also eligible for this loan. 


Most banks allow to avail of a personal loan if you are 21 or above and by the time the loan matures you should be less than 60 years. In the case of the Bajaj Finserve personal loan, your age must be between 23 years to 55 years. 


Being a government employee, you have to have a minimum income to avail of a personal loan. A minimum income of Rs. 15,000 is preferred by most of the banks. 

Financial steadiness

Whether a government employee or not, you should not be having too many other liabilities and loans. Besides, your outstanding salary should not be below 30% of your total income, even after repaying all your EMIs. 

Tenure of the job

If you are working as a government employee for the past year, then availing of a personal loan will not be difficult for you. However, if you have just joined the firm, then you have to find about the bank’s lending conditions. 

Keep the documents ready 

Always keep all the documents ready before applying for a loan. This can save you from last-minute hassles. Below is a list of the documents that are needed to apply for a personal loan. 

  • Proof of address
  • Employment proof
  • Proof of identity
  • Salary statements for the past two months
  • Bank record of the last three months
  • Verification of signature proof

Application process

You can apply for a personal loan in the following way.

Offline procedure

If you want to apply for a loan offline, you can follow the steps given below. 


  • Visit the bank from where you want to apply for the loan. 
  • Fill up the loan application form.
  • Submit the relevant documents.
  • The loan will get approved in a few days. 

Online procedure

The best way to avail of a loan is online. Given the ease of access, you can apply for the Bajaj Finserv Personal loan online in the following way. 


  • Visit the official website of your preferred bank and log in. 
  • Choose the ‘Apply Now’ option.
  • Enter the details in the application form.
  • Fill in the amount of the loan and the duration. 
  • Provide your documents to the representative who will get in touch with you. 


Before availing of a personal loan, always check for the loan amount you can get. However, it is always better to choose the exact amount you need to avoid paying higher EMIs and interest components. Moreover, you can make use of a personal loan EMI calculator to calculate the estimated EMIs with ease. 




Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button