Teachers working in government schools and colleges can avail personal loans offered by top lenders in the country at attractive interest rates starting from 10.50% p.a. The maximum amount of loan that can be availed by government teachers as personal loan is Rs.25 lakh which can be repaid in a maximum of 5 years.
|Lender||Interest Rate||Loan Amount|
|Union Bank of India||10.50% to 12.00%||Up to Rs.15 lakh|
|Syndicate Bank||13.45%||Up to Rs.3 lakh|
|Canara Bank||12.55%||Up to Rs.3 lakh|
|Oriental Bank of Commerce||11.40%||Up to Rs.10 lakh|
|Bajaj FinServ||12.99% onwards||Up to Rs.25 lakh|
|Processing Fees||Penal Interest||Foreclosure Charges||Part-prepayment Charges||Bounce Charges|
|Up to 3.99%||2% of EMI amount per month + applicable taxes or Rs.200, whichever is higher||4% + applicable taxes on principal outstanding||2% + applicable taxes on part-payment amount paid||Rs.600 to Rs.1,200 per bounce|
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