Personal Loan for Indian Army

What is personal loan?


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 Army 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 Army personnel ?

Age Criteria 25 – 76 years of age.
Service A service record of at least 6 months.
IncomeThe net salary 25k month on month.
The applicant should draw the minimum salary required for a period of 6 months.
AccountExcept for HDFC Bank, the applicant must be an account holder in the
particular bank that he applies to.
Credit scoreFirst time loan applicants (some banks) & customers with a good credit history are eligible.
Loan amountMaximum 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 ProofPassport; PAN Card; Birth Cert.; Employee ID Card

What are the benefits for Indian Army 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 Rates10.99% – 18% (Varies from bank to bank)
Processing chargesNIL to 2% (Varies from bank to bank)
Pre-closure chargesNIL 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

BankInterest 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%