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Loan for Government Employees

Meet your big and small financial needs with Aditya Birla Capital’s Loan for Government Employees. Get quick funds without collaterals and a flexible repayment tenure for affordable EMIs.

Attractive interest rates
Easy & flexible repayment options
Easy application process with quick sanctions

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₹ 5.50 Lakh Cr

AUM

1,712

BRANCHES

3.9 Cr

ACTIVE CUSTOMER BASE

₹ 1.78 Lakh Cr

CONSOLIDATED LENDING BOOK

Our Offerings

Different individuals have different needs. That’s why we offer different types of loans for government employees. Here’s what you can get -

Personal Loan

Get a collateral-free loan for every type of financial need that you have. Enjoy a flexible repayment tenure to get affordable EMIs.

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Flexi Loan

Get a flexible repayment solution with interest payable only on the amount that you utilise. Save on the interest outgo and get quick funds.

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Interest Rates Available for
Loans for Government

Find out the interest payable on the Loan for Government Employees to plan your repayments effectively.

Loans up to 12 months

Loan Type	Interest
The Short Term Reference Rate (STRR)	19.45% p.a. w.e.f.from March 1, 2024

Rates are indicative and depend on credit score, income, and profile. The best debt consolidation loan often starts lower for strong profiles (750+ CIBIL).

Loans more than 12 months

Loan Type	Interest
The Long Term Reference Rate (LTRR)	20.45% p.a. w.e.f. from March 1, 2024

Revision of Reference Rates for determining Interest Rates on loans given

Long Term Reference Rate

ABCL has increased its Long-Term Reference Rate (LTRR) by 20 bps to 20.45% p.a. with effect from March 1, 2024. The interest rate on the floating rate loans of tenor greater than 12 months that are linked to the LTRR will be revised upwards by 20 bps. The spread / margin on the said loans will remain unchanged.

Short Term Reference Rate

ABCL has increased its Short-Term Reference Rate (STRR) by 20 bps to 19.45% p.a. with effect from March 1, 2024. The interest rate on the floating rate loans of tenor up to 12 months that are linked to the STRR will be revised upwards by 20 bps. The spread / margin on the said loans will remain unchanged.

Who Can Apply For a Loan for Government Employees?

Find out if you are eligible to apply for a Loan for Government Employees

Salaried

Self-employed Professional

Self-employed Non - Professional

Eligibility Criteria for Personal Loan for Government Employees

To qualify for this loan, applicants must meet the following criteria:

Eligibility Criteria

Nationality The applicant must be an Indian citizen with a stable income from a government job. This ensures compliance with Indian financial regulations.
Age Criteria The borrower must be between 21 and 60 years (or retirement age, whichever comes first). Some lenders may allow exceptions for employees with extended service.
Credit Score A minimum credit score of 750 is required for better loan terms. A lower score may lead to higher interest rates or rejection.
Employment Criteria The applicant must be a salaried government employee, including those working in central/state government, PSUs, or government-affiliated bodies. Stable employment increases loan approval chances.

Documents Required for Personal Loan for Government Employees

Ensures a smooth application process by providing the following documents:

Identity Proof Aadhaar Card / PAN Card / Passport / Voter ID
Address Proof Utility Bills / Rent Agreement / Aadhaar Card
Income Proof Salary slips from the last 3 months'
Photo identity proof Salary slips from the last 3 months'
Employment Proof Employee ID card or official letter from the employer
Bank Statements Last 6 months’ salary account statement
Form 16 Proof of tax deduction at source (TDS).

Fees and Charges for Personal Loans for Government Employees

Charge Type	Amount
Cheque Return charges	₹500 + GST per instance
Default Penal charges	3% of the pending amount per month
Charges for cancellation of Loan	4% of loan amount disbursed + applicable taxes
CIBIL report retrieval fees	₹100 + GST per instance
Charge for Exchanging PDCs / ECS	₹750 + GST per instance
Loan reschedule charges	₹5000 + GST per instance
Stamp Duty	As per Actual if applicable
Insurance Premium	As per Actual, if applicable
Pre-closure Quote	₹1000 + GST per instance
Any other charges	As per Actual, if applicable
Part - Pre-Payment Charges	Charges: A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure.
Foreclosure Charges	4% of the Principal outstanding amount + GST Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal.

Different financial needs, different loans,
one app - ABCD

For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.

Range of loan options for different needs
Range of loan options for different needs
Quick sanctions and disbursals

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Customer Satisfaction Stories

Hear from our happy customers what they have to say about their experience with us.

Mr. Hiralkumar Ashokbhai Patel

Aditya Birla Finance Customer

Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.

Mr. B. Narsimulu

Aditya Birla Housing Finance Customer

Hyderabad, India

Mr. Pramod Kumar Saini

Aditya Birla Finance Customer

I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.

Mr. Vikram Balu Gavali

Aditya Birla Housing Finance Customer

Belapur, India

FAQs on Personal Loans for Government Employees

Yes, State Government employees can also apply for the loan if they fulfil the eligibility parameters specified by Aditya Birla Capital

A minimum credit score of 750 is required to get a personal loan for government employees. Since your score is low, you cannot get the loan.

A personal loan for government employees can be used for multiple purposes like -

• Going on a trip
• Meeting emergencies
• Home renovation
• Buying a vehicle, etc.

The loan amount will depend on your eligibility qualifications. You can use the online eligibility calculator to find the loan amount that you qualify for.

Government jobs are expected to be stable, giving employees a stable income source, which is why they can easily get loans.