Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

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At SMFG India Credit, we believe in the dreams of each and every individual. Thus, if you are employed by the government of India or a PSU and are looking for a personal loan, you have come to the right place. We have exciting personal loan schemes suitable for government employees to meet all your funding needs, be it for a wedding, travel, medical emergency, higher education of your children, purchase of gadgets, or any other requirements.

  • You can borrow up to Rs. 25 Lakhs* under the facility of personal loan for government employees.
  • Attractive rate of interest starting at 11.99%* per annum.
  • Choose repayment tenures anywhere between 12 months and 60 months as per your convenience.
  • Get instant disbursal in bank account within 30 minutes* of loan approval.

NOTE: Before applying, we recommend checking your loan amount eligibility with our free-of-cost online personal loan eligibility calculator. With the help of this calculator, you can understand the exact amount you can afford to repay in comfortable EMIs.

Features And Benefits Of A Personal Loan For Government Employees In India

If you are a government employee, you can apply for personal loans to cover expenses like travel, weddings, medical emergencies, etc. This loan type provides funds to address immediate financial needs.

Here are some key benefits that come with personal loans for government employees in India:

  1. High Loan Amount and Flexible Tenure

    You can avail of a personal loan starting from Rs. 50,000* and going up to Rs. 25 Lakhs*, with flexible repayment tenures ranging from 12 months to 60 months.

  2. Instant Decision Making

    Gone are the days when you had to go to offline offices to begin your loan application; now, you can do it from the comfort of your home. The personal loan application process is instant and 100% online.

  3. No Hidden Charges and collateral-free

    There are no hidden charges in the loan application process, and there is no collateral needed. It is ensured that the process is as smooth and easy as possible.

  4. Instant Information on Eligibility

    There is no need to hop on a phone call just to get information about the personal loan. You can access your eligibility criteria from the specially designed eligibility calculator!

  5. Quick Fund Transfer

    The entire process is made to facilitate loan transfers quickly. After your approval, the funds will be transferred in bank account within 30 minutes* of loan approval.

Personal Loan Interest Rates For Government Employees

Interest Rate

11.99%* per annum onwards

Loan Amount

Rs. 50,000 to Rs. 25 Lakhs*

Loan Tenure

12 to 60 months

Loan processing Fees

Between 0% to 6% of the loan amount

Lowest EMI Per Lakh

Rs. 2,224 per Lakhs for 60 months

Prepayment Charges

0% to 7%*

Cheque Dishonoured Charges

Rs. 300

No hidden Charges

Government employees can benefit from competitive and transparent personal loan offerings. With interest rates starting at just 11.99%* per annum, these loans cater to the financial needs of government personnel. Ranging from Rs. 50,000 to Rs. 25 Lakhs* The loan amount ensures flexibility in meeting various requirements.

The loan tenure varies from 12 to 60 months, allowing government employees to choose a repayment plan that aligns with their financial capabilities. Eligibility criteria include an age range of 21 to 60 years and a good CIBIL score of 750 or more, ensuring accessibility to a broad spectrum of government professionals.

One notable advantage is the absence of hidden charges, which provides transparency throughout the loan journey. Government employees can confidently explore these personal loan options, knowing they come with favorable interest rates, reasonable eligibility criteria, and a commitment to financial transparency.

Government Personal Loan Scheme

The government personal loan scheme is offered to permanent employees of both central and state government organisations. It can be taken for meeting any type of personal expenses and has less stringent eligibility criteria.

Along with an attractive interest rate, one can borrow up to Rs 25 Lakhs* under this special personal loan scheme for government employees.

Eligibility Criteria of Personal Loan For Government Employees

Below-mentioned is the eligibility criteria for SMFG India Credit personal loan

  • You can apply if working for the government at the state level or a local body. We also have a personal loan for central government employees.
  • You must be an Indian citizen who is residing in the country.
  • You must be between the age of 21 years and 60 years.
  • The minimum work experience should be 2 years.
  • If you reside in Delhi or Mumbai, your minimum monthly income must be Rs. 25,000.
  • If you reside in any other part of India, then your minimum monthly income must be Rs. 20,000.

Required Documents for Personal Loan for Government Employees

The documents required for SMFG India Credit personal loan are as follows:

  • Filled and signed loan application form.
  • Proof of address and identity.
  • Proof of age.
  • Bank statement of the last 6 months (salary account).
  • Proof of income (salary slips of the last 3 months).
  • Proof of Income Tax Return or Form 16.

How to Apply for a Personal Loan?

Applying for a personal loan for government employees is easy and quick with our online loan application facility.

  • On our website, click here and follow the steps to apply for the loan, as prompted.
  • If you are applying online, we suggest you keep the soft-copy of the necessary documents for upload. These documents include bank statements, salary slips, KYC, etc.
  • You can also apply for the personal loan offline by visiting the nearest SMFG India Credit branch. Here, our customer service representative will take you through the loan application process

*Loans are disbursed at the sole discretion of SMFG India Credit. Please note that final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application

Why Take a Personal Loan for Government Employee

You can require a personal loan for various reasons as a government employee. Be it a medical emergency or an upcoming family wedding, the need for immediate cash can come up at any point in time. Here are the reasons why you should take out a personal loan as a government employee:

  1. Instant Transfer of Funds

    What’s better than having an immediate fund transfer after approval? An online personal loan can transfer funds to your account within 30 minutes* after approval.

  2. Attractive Interest Rates:

    You get attractive personal loan interest rates, too. The interest rates start at as low as 11.99%* per annum.

  3. Minimal Processing Fees and Time

    The best part of personal loans is the processing time, and fees are both minimal and the process is completely hassle-free.

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

12 Months60 Months

Your Calculated EMI*


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