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Easy Personal Loans for Government Employees

Whether you are dealing with unexpected medical expenses or planning your child's higher education or marriage, you need a large sum at once. Therefore, taking a personal loan makes a lot of sense.


If you are planning to take care of an urgent expenditure, all you need is personal loan at competitive interest rates, which is remarkably easy to avail for government employees. With a secure income, 7th pay grade benefits and the long-term safety of a government job, getting a personal loan for government officials can be an easy walkover.


If a government official looking for quick personal finance, follow these tips.

Apply online
Nowadays you can apply online and avoid visiting your favourite lender's branch in Covid time. Check the documentation requirements on the financier's website, provide / upload the relevant papers, and your online loan application is submitted quickly.


Maintain a good Credit score
Your Credit score is a major factor in getting a quick loan for government officials. Credit score is a three-digit number ranging between 300 and 900 points. The greater it is, the better your chances for personal loan approval.


Credit rating above 750 points is considered excellent by financiers. A strong Credit score is an indicator of your creditworthiness and shows your capability to repay the personal loan timely.


If your Credit score is on the lower end of the range, you can improve it within a matter of months. Make sure you pay off your credit card dues on time and avoid defaulting on your preceding or ongoing EMI's. You should also evaluate your credit report frequently to look for inconsistencies or any inaccurate information.


Check personal loan eligibility in advance
To increase your chances of personal loan approval, you must comply with all the eligibility criteria specified by the lender on their website. Usually, eligibility conditions include your age, work experience, net monthly income, Credit score, current EMI payments, etc. OMLp2p's some of the eligibility criteria for personal loan are as follows:

  • Your age should be between 21 and 58 years.
  • Your net monthly income should be Rs. 25,000*.
  • You must have a valid PAN number, Address proof and bank account.

Low debt-to-income ratio
Your debt-to-income ratio discloses the portion of your salary that goes into paying EMI's. Try keeping this ratio at 40% or lower. It means do not repay more than 40% of your income as monthly instalments. A higher debt-to-income ratio indicates that you may not be able to pay off new monthly instalments, which lowers your chances of personal loan approval.


If you keep these things in mind, then getting a personal loan for government employees is entirely hassle-free. We, at OMLp2p offer personal loans at attractive interest rates with quick approval and disbursal.

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