Axis Bank Government Employees Personal Loan

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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
  1. KYC Documents: Aadhar Card, Voter’s ID, Valid Passport, Utility Bills and other documents
  2. 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:

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