Indusind Bank Government Employees Personal loan

Getting a personal loan as a government employee can be handy. However, a loan with attractive interest rates can still be difficult. This is where an IndusInd Bank government employee personal loan comes into play. The eligible applicant can secure a loan with interest rates starting as low as 10.49% per annum and favourable terms and conditions, making it an appealing credit option. Moreover, the applicants can enjoy flexible repayment options, moderate eligibility criteria, minimal documentation, and quick fund disbursement. To know more about this borrower-friendly credit option, continue to scroll down. We present a detailed overview of an IndusInd Bank government staff personal loan. 

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Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
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Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

IndusInd Bank Personal Loan for Government Employees – Highlights 

An IndusInd Bank government employee personal loan interest rate and other key elements as follows: 

Loan Amount Up to ₹50 Lakh
Interest Rates 10.49 p.a. onwards 
Loan Tenure 12 – 72 month
Eligibility Both state and central government employees

Compare Government Employees Loans From Other Banks 

Let’s compare the IndusInd Bank government employee personal loan with other Banks across India: 

Lender Interest Rate  Processing Fee Loan Amount Loan Tenure
IndusInd Bank 10.49 p.a. onwards Up to 3% of the loan amount Up to Rs 50 lakh 6 years
HDFC Bank 10.50% p.a. onwards Upto Rs 4999 Up to Rs 40 lakh 6 years
Tata Capital 10.99% p.a. onwards 3.5% of the loan amount Up to Rs 35 lakh 6 years
State Bank of India 10.55% p.a. onwards Up to 0.75% of the loan amount Up to Rs 35 lakh 6 years
Axis Bank 10.49% p.a. onwards Up to 2% of the loan amount Up to Rs 40 lakh 7 years
IDBI Bank 9.50% p.a. onwards 1 % of the loan amount Up to Rs 5 lakh 6 years
Kotak Mahindra Bank 10.99% p.a. onwards Up to 3% of the loan amount  Up to Rs 40 lakh 6 years
Union Bank 10.60% p.a. onwards 0.50% of the loan amount Up to Rs 15 lakh 6 years
Yes Bank  10.99% p.a. onwards Up to 2% of the loan amount Up to Rs. 40 lakh 5 years
Bank Of Baroda 12.15% p.a. onwards Up to 2% of the loan amount Up to Rs 20 lakh 7 years

IndusInd Bank Personal Loan for Government Employees – Fees and Charges 

Let’s examine the applicable fees and charges for an IndusInd Bank state employees personal loan:

Fee/Charge Amount
Processing Fee Up to 3% of the loan amount + tax
Prepayment Charges Not Applicable 
Late Payment Fees 2% per month on overdue amount; I..e., 24% p.a.

IndusInd Bank Personal Loan for Government Employees – Documents Required 

Here are the pertinent documents you may require to apply for an IndusInd Bank government employee personal loan: 

  • Identity Proof: Aadhar card, Passport, Driving License, Voter ID, or any other government-issued identification document.
  • Address Proof: Utility bills (electricity, water, gas), Passport, Aadhar card, Driving License, or any other valid address proof document.
  • Income Proof: Salary slips, bank statements, income tax returns, Form 16, or any other document that validates your income.

IndusInd Bank Personal Loan for Government Employees – Eligibility Criteria

IndusInd Bank personal loan eligibility for government employees is as follows: 

  • Age: Applicants should be between 21 and 60 years of age.
  • Income: A minimum net monthly income of ₹25,000 is required.
  • Employment: Applicants should have at least 2 years of employment history, with a minimum of 1 year in the current organisation.
  • Credit Score: A good credit score, typically 700 or above, is preferred as it indicates a higher likelihood of loan approval.
  • Residence: If residing in a rented property, applicants should have completed a minimum of 1 year at the current residence.
  • Nationality: Applicant must be an Indian citizen.  

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