Friday, December 9

How a Personal Loan Helps Government Employees to Manage Financial Crises?

An unexpected crisis, a sudden emergency can come anytime, and you need to be prepared financially. But what if you have not arranged for extra money and now you have nowhere to turn to? In a tough spot like this, an instant personal loan can be your savior, provided by reliable and customer-friendly companies like Fullerton India. 

This non-banking finance company (NBFC) offers convenient personal loan plans to government employees with attractive features and flexible repayment plans. You will never have to worry about managing a financial crisis even if you cannot keep anything aside for collateral, as there are plenty of plans to choose from. You can process your application digitally and get a loan amount up to Rs. 25 lakhs without having to run to and fro the office. So, here’s how a government employee can get quick financial support:

1. Meet the simple eligibility criteria

The eligibility criteria for a personal loan simply depend upon your repayment capability and is relatively simple, especially if you are a government employee. Some of the essential criteria for personal loan eligibility by Fullerton India are:

● You must be between the age of 21 to 60. 

● Your salary should be a minimum of Rs. 20,000 per month (Rs. 25,000 per month if you are in Mumbai or Delhi).

● For self-employed individuals, you must have a minimum yearly profit after tax determination based on the profession/industry.

● You should have a minimum work experience of 1 year. 

● Your experience in the current company should be no less than six months. 

● Your CIBIL score should ideally be 750 or more.

● You can apply for a maximum EMI of up to 65.00% of your salary/income.

2. Use the loan eligibility calculator

If you are eligible for getting an instant personal loan, you can instantly check the loan eligibility calculator to understand how much money your profile is eligible for. The website of Fullerton India provides this tool for free and takes no time to make the calculations. By knowing how much you are likely to qualify for, your application and approval process can be sped up.

3. Keep your documents ready

The process of getting a loan becomes easier if you have all your documents ready to submit. To prove your eligibility by credible paperwork, you may need to submit copies of the following documents:

● Employee ID


● Salary slips of the last two months

● Bank statement of the past three months

More documents can be required at later stages, but these are the most basic ones and should suffice for a company with no hassles like Fullerton India.

4. Go for the online method

To apply for the loan, you need not visit the NBFC offices physically. You can simply log on to their website and apply for the personal loan through your smartphone, tablet, or laptop. 

● Create your account with your mobile number or log in to an already existing account.

● Fill in a short form with your personal details. 

● Enter the loan amount that you require and the tenure of repayment. 

● Submit the required documents to the representative who contacts you from the company.

These simple steps can take you closer to managing your funds and dealing with any extra expenditure that you may have. 

With Personal Loan for Government Employees starting from an 11.99% interest rate for a maximum of 60 months, you can actually get an EMI as low as Rs. 2,224 per month (depending on your loan amount). The loan’s total cost includes the interest rates and the processing fees (between 0% – 6% of the loan amount). Depending on the policy you choose and the criteria at the time of selection, you can quickly draw your monthly budget plan and payout the loan. 

NBFCs like Fullerton India understand the emergencies that government employees can face and are completely transparent in their operations. They even provide instant facilities with priority communication and work towards easing out all financial burdens. There are no hidden charges or fees, making it one of the best choices you make for getting an instant personal loan.