Personal Loan for Government Employees
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Your EMI is dependent mainly on three factors: loan amount, tenure and rate of interest. You can calculate the EMI yourself, or use Kotak Mahindra Bank’s personal loan EMI calculator.
Your processing fee is a charge you are required to pay while submitting your application. Kotak Mahindra Bank charges personal loan fees and charges of up to 5% against your overall amount.
No, a personal loan is a collateral-free loan, which brings no tax benefits to its borrowers. Even if you are a government employee, you cannot avail of any tax benefit against your personal loan.
No, retired government employees cannot apply for personal loan as they may not be eligible under the minimum age and minimum income requirement.
