What is personal loan?
A personal loan is an unsecured loan. It helps you meet your urgent money needs. Therefore, there is no need to give a security. We give the best loan offers on personal loan for Indian Air Force personnel at bestloandeal.in. So, Apply online to book your personal loan now.
The Indian Armed Forces are the military forces of the India. Officers of the Indian Armed Forces stationed in the remotest location can avail a Personal loan.
What is the eligibility for a personal loan for Indian Air Force personnel ?
| Age Criteria | 25 – 76 years of age. |
| Service | A service record of at least 6 months. |
| Income | The net salary 25k month on month. The applicant should draw the minimum salary required for a period of 6 months. |
| Account | Except for HDFC Bank, the applicant must be an account holder in the particular bank that he applies to. |
| Credit score | First time loan applicants (some banks) & customers with a good credit history are eligible. |
| Loan amount | Maximum cap on loan amount can be decided as per salary or age of applicant. Upto 30 lacs. |
What are the documents needed for a personal loan?
| Identity Proof | Passport; PAN or Aadhar Card;Voter ID; Driving license. 2 Photographs. |
| Residence Proof | Passport; Driving License; Voter ID; Rent agreement; Electricity bill. |
| Income Proof | Last 3 months’ income slip + 6 months’ bank statement. Form 16(1 year) Copy Of service certificate. |
| Age Proof | Passport; PAN Card; Birth Cert.; Employee ID Card |
What are the benefits for Indian Air Force personnel employees?
| Interest rates start @10.99%*. |
| Tenure– 12-60 months. |
| Pensioners: Banks offer loans for pensioners at lowest rates. Maximum age limit is 76 years; loan tenure is 5 years. Zero processing fee for defence pensioners in SBI and HDFC. |
A fixed Rate of Interest is charged @ monthly reducing balance. The EMI remains constant for the tenure granted. The payment of the personal loan is by deduction through ECS from the salary account on a fixed date for the entire tenure. Pre closure & part payment facilities are applicable as per the bank policy.
Fees and Charges
| Interest Rates | 10.99% – 18% (Varies from bank to bank) |
| Processing charges | NIL to 2% (Varies from bank to bank) |
| Pre-closure charges | NIL to 5%. (Varies from bank to bank) It is allowed after Payment of 1 EMI in Axis Bank, 6 in ICICI and 12 in HDFC. |
Why apply via bestloandeal.in?
Multiple Products from multiple banks under one roof.
Instant online approval.
Expert guidance.
Read more about Personal Loans
| Bank | Interest Rates |
| Allahabad Bank | 10.50% to 12.99% |
| Bajaj Finserv | Starting from 12.99% |
| Bank of Baroda | 11.35% to 16.35% |
| Andhra Bank | 11.55% to 13.05% |
| Axis Bank | 15.75% to 24% |
| Central Bank | MCLR (12M) + 3.00% |
| Corporation Bank | 12.95% to 13.95% |
| HDFC Bank | 11.25% to 21.50% |
| Bank of Maharashtra | Starting from 15% |
| Citibank | Starting from 10.99% |
| Canara Bank | 13.00% to 16.50% |
| Bank of India | Starting from 13.10% |
| Federal Bank | Starting from 11.49% |
| ICICI Bank | 11.50% to 19.25% |
| Indian Bank | Starting from 14.20% |
| Fullerton India | Starting from 12% |
| IndusInd Bank | Starting from 10.75% |
| IDBI Bank | Starting from 12% |
| HSBC Bank | 10.75% to 17.84% |
| Muthoot Finance | 14.50% |
| Kotak Mahindra Bank | 11.29% to 19.99% |
| RBL Bank | Starting from 12% |
| IDFC First | Starting from 11.5% |
| TATA Capital | Starting from 11.25% |
| Standard Chartered Bank | Starting from 11.99% |
| Syndicate Bank | 13.25% to 13.65% |
| UCO Bank | Starting from 11.70% |
| Punjab National Bank | Starts from 12% |
| Union Bank of India | Starting from 14.40% |
| State Bank of India | Starting from 11% |
| Yes Bank | Starting from 10.75% |
