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A personal loan can help government employees manage a financial crisis


An unexpected crisis, such as a medical emergency, can potentially impact your finances. This is especially true if you haven’t set aside money to fall back on a rainy day. In a difficult situation like this, a personal loan can serve as an alternate funding option.

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Leading banks and non-banking finance companies offer convenient personal loans to salaried individuals employed in the private and public sector. In fact, if you are a government employee, you have access to several financial options with attractive features that can make the borrowing process easy and repayment flexible. 

Take for instance, the Bajaj Finserv Instant Personal Loan for government employees. The Flexi Loan facility is a unique offering that allows to borrow funds when you need and prepay when you can while limiting your interest outgo.It doesn’t require any collateral, so your assets remain secure.

This loan can be the ideal emergency loan as it is easy and quick to apply for and gets you money in your account in as little as 24 hours. Just follow these four simple steps to get the money you need.

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Step 1: Meet the simple eligibility criteria

To get a Bajaj FinservPersonal Loan, you need to ensure that you meet the eligibility criteria. These are fairly basic and simple, especially for a government employee. They are as follows:

  • You must be between the ages of 23 and 55
  • You must be a salaried individual
  • You must be a residing citizen of India
  • You must meet the minimum income requirement for the city you live in
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As a government employee, these criteria pose no major hurdle and make it easy for you to qualify for funding without stress.

Step 2: Use the loan eligibility calculator

Once you’ve met the criteria, the next step is to check the loan amount you can apply for. By using the personal loan eligibility calculator, you can know exactly how much your profile will qualify for within seconds. This tool is available for free online and takes little to no time to use. With it, you can know how much you’re likely to qualify for, which helps speed up the application and approval process.

Step 3: Keep all the required documentation handy

To get the funds you need, you have to prove your eligibility by submitting the required documents. However, in case ofa Bajaj Finserv Personal Loan, you are required to submit minimal documentation. They are as follows:

  • Employee ID
  • KYC
  • Salary slips of the last two months
  • Bank statement of the past three months

Step 4: Apply for the loan online

All you have to do now is apply for the loan. Bajaj Finserv offers online application through your smartphone or laptop and these are the four easy steps to follow.

  1. Log in to the official website and click on the ‘Apply now’ button
  2. Fill the short online application form with your personal and financial details
  3. Enter the loan amount you require and the tenure length (repayment duration)
  4. Submit the required documentation to the representative who contacts you

By following these simple steps, you can get speedy access to funds and can tackle any emergencies you may face. In fact, you can borrow up to Rs.25 lakh, an amount that is disbursed within just 24 hours of securing approval.

With convenient personal loan interest ratesand transparent loan terms, you can opt for a Bajaj Finserv Personal Loan with ease.

With the Flexi Loan feature, you can:

  • Borrow (withdraw) funds from your loan limit as many times as you need to
  • Withdraw funds online without any additional applications
  • Restrict your interest payments to the amount utilised and not the entire loan limit
  • Pay only the interest component of the EMI for the initial part of the tenor
  • Lower your monthly outgo by up to 45%*
  • Part-prepay funds at any time, at no charge

These features are particularly helpful for meeting obligations that require a staggered influx of funding. However, to ensure better planning for repayment, it is a good practice to weigh the Flexi Loan fees and charges against the benefits the loan offers.

Then you can apply online bearing in mind the steps listed above. To get quick access to funds with the Flexi Personal loan for government employees, check your pre-approved offer right away!

Disclaimer: This content is distributed by Bajaj Finserv. No TNIE Group journalist is involved in the creation of this content.

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