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Home / Finance / Personal Loan / How Much Loan a Govt Employee Can Take From SBI?
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How Much Loan a Govt Employee Can Take From SBI?

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11 months

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0 2023-11-24T17:10:04+00:00
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My father is a retired Government employee and he has taken a personal loan for my sister’s wedding from SBI. So, I can tell you that the maximum SBI personal loans for govt employees is dependent on various factors, including their salary, employment tenure, and creditworthiness. However, as a general guideline and as far as I know,

government employees can avail of personal loans up to Rs 20 lakhs from SBI

.

Personal Loan for Govt Employees in SBI 

I have also explained the eligibility criteria for SBI's Personal Loan for Government Employees:

  • Minimum Age:

    21 years

  • Maximum Age:

    60 years

  • Employment Tenure:

    A minimum of 5 years of permanent employment with the government or government-affiliated organization

The interest rate for SBI's Personal Loan for Government Employees is low and is charged on daily reducing balance of the loan, depending on the loan amount, tenure, and credit score.

If you are a government employee and you want to apply for a personal loan, you can visit the nearest SBI branch or apply online through the SBI YONO app. You will need to provide your salary slip, employment documents, and identity proof.

I can tell you a few benefits of SBI's Personal Loan for Government Employees.

  • I think SBI offers quite competitive interest rates.

  • The loan processing cost is also very low.

  • Also, their repayment options are flexible.

  • They even do really quick processing and disbursal of the loan.

  • There are no prepayment charges.

If you are a government employee looking for a personal loan, I think govt employee personal loan SBI is a great option to consider. 

Get a Personal Loan through NoBroker without hefty paperwork. Read More: How to Check Personal Loan Eligibility in SBI Yono App?

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Ravinder Singh

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