Special Offer For Our Teachers From HDFC Bank
Personal Loan For Teachers HDFC Bank Account Holders Non Corporate Salary Account Holders
Loan Amount ROI ROI
20 Lakhs And Above 10.75% 10.75%
10 And 19.99 Lakhs * 11.00% 11.00%
5  And 9.99 Lakhs 13.50% 14.00%
Below 5 Lakhs 14.49% 15.00%

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Teaching is one of the noblest professions; as per our culture & heritage, the Teacher is also known as the Guru who is to be revered, respected & obeyed without question.

Over the years the perspective has changed but a Teacher is the single most influence on the life of an individual, outside of the home environment. The Teacher shows her students the first view of the outside world & has the power to shape their minds .Thus it becomes the responsibility of the teacher to make sure that the students grow up to be responsible citizens who contribute positively to society.

From earning a modest income &regarded as a career option for the academics only, teaching is now a lucrative job. With the Education sector becoming of primary importance in the Government & Private sector the salary of Teachers has increased manifold.

Becoming a Teacher or a Professor is now a sought after profession; many young aspirants now look forward to becoming a Teacher which gives the satisfaction of contributing to society & earning a good income.

We credit our Teachers with superhuman qualities but they too have to earn a living & fulfil their responsibilities. Earning of a livelihood is as important for them as for a common man: A teacher also has to look after a family & meet social & financial commitments.

Finance is now easily available in the form of a Personal Loan for Teachers to fulfil their Personal needs. Most Banks now categorize Teachers as a preferred segment for the distribution of Personal Loans funds via a Personal Loan are available to teachers for the following purpose;

A personal loan is available for a Wedding in the family or any other celebration.

A family celebration is an important occasion: be it a family wedding, an auspicious Pooja to be conducted, a new arrival in the family or to commemorate a landmark date; It is a family bonding & festivity time. Planning of finances is the key to make sure that there is no hitch in making the occasion a memorable one. Finance is readily available via a Personal Loan for any shortfalls in the budget or just as a cushion to make sure all goes smoothly.

Funds achieved via a Personal loan can be used for medical treatment or an emergency.

An emergency or an illness always come unannounced, at this juncture the availability of funds is necessary to be able to look after your loved one to the best of your ability; a Personal Loan ensures quick & convenient availability of funds when you need them the most.

A Personal loan can be applied for further education of self /spouse or children or payment of school fees & other expenses.

Gone are the days when a school was a basic institution to gain knowledge & become accomplished.

A school was sparsely furnished with wooden chairs & benches for students to sit on with a Blackboard for illustrations with a nominal amount to be paid as the fee.

Today education is a flourishing industry with private schools which offer a luxurious environment; they offer modern education techniques & extra curriculum promising a wholesome growth for children. Post schooling the challenge is to get admitted to a college which offers the career of their choice. All Parents endeavour to send their children to the best educational institutions; to give them an education that guarantees stability & good career prospects.

An individual may like to study while working to acquire new skills & enhance future prospects.

A Personal loan can help fund education & make it convenient to pay costs so that there is no compromise in providing the best education possible for your family.

For Travel expenses or Vacation.

The pressures & stress of everyday routine make it a necessity to take a break once a while. A good way is to take a vacation: it may be summer holidays when the schools are shut, a family function or just a yen to see the world a vacation gives us time to relax, rejuvenate & refresh.

It is necessary to plan your travel to enjoy your holiday to the maximum. Travel agencies are ready to offer attractive packages for commuting to & fro to your destination & also for stay at the destination; adequate finances are required at every juncture to make your holiday a success.

A personal Loan is readily available to help you cover your budget, so why wait! Go ahead with your travel plans: apply for a Personal loan for the amount you need.

Take a Personal loan for redecoration & renovation of your home.

A Home is a place to come back to after the day’s work & activities, a haven where you find comfort & warmth with your loved ones. Indulging in your home to make it a place which is well equipped as per your needs, designed & decorated is especially rewarding. Modern gadgets are available to make life easier, for relaxation & entertainment.

Personal loans are available from leading Banks to renovate your existing home or furnishing & decorating your new home as per your requirements. Make yourself house proud by creating a beautiful home for yourself & your dear ones with the help of a personal loan which can be paid back in easy instalments.



A personal loan is an unsecure loan which is granted without any guarantee or security. An applicant requiring funds can achieve a personal loan solely on the base of the current profile, documents to prove the current income, banking & other details. Thus no asset property or jewellery needs to be given to secure funds that can be used for any emergency or personal requirement.


A personal loan is convenient to achieve & can be paid back easily via monthly installement over a tenure of up to 5 years. Applying for a personal loan is as simple as borrowing money from a close friend or associate in the time of need. Leading Banks offer personal loans as a primary product to their customers who can pay back the loan prior to the expiry of the tenure & also pay back the amount in parts as per the policy of the lending bank.


Requirement of funds is always an emergency; a personal loan can come to the rescue as the process for a personal loan can be completed within 48 to 72 hours. Banks give priority to customers with whom they have a previous relationship; an applicant who has a proven credit record can secure funds quickly when required.


Documents to be submitted for a personal loan are simple & are readily available with all salaried persons. They include the Salary slips for the last 3 months as proof of the monthly income of the applicant together with the Bank statement to show the salary being credited to the Bank account.

The KYC (know your customer) documents which include a residence proof & identity documents of the applicant. These documents are the key on which the decision for giving credit is taken.


There is no restriction on the applicant to use the loan amount granted for a particular purpose. An applicant can apply for the maximum amount as per the eligibility; the amount once received can be used by the applicant as & when required, for any suitable purpose as long as the money is not used indiscriminately. An applicant can pay credit card bills, even put the amount in a fixed deposit as long as it is not being used for speculation or nefarious activities which can put the amount at risk.

As in a secured loan such as a home loan & auto loan the funds are forwarded as per the use of the specific purpose where as in a Personal Loan the taken can be used by the customer as desired.


To apply for a Personal an individual must fulfil the eligibility criteria required, the basic criteria remains standard for most of the banks with variations as per the individual policy of the Bank or NBFC.

The applicant must be a bona fide citizen of India meeting the following norms.

Age Requirement

Minimum age required to be eligible to apply for a Personal loan is 21 years; the maximum age up to which the Personal Loan tenure can last is 60 years. The age of the applicant is verified by the Date of Birth proof submitted by the applicant.


The applicant should have completed the basic education of 10 + 2 of schooling & a graduation degree thereafter. Alternately a certificate course of any other skill acquisition is required.

A basic education is required to understand the working & implication of the Personal Loan.

Cibil Record

The Credit information Bureau of India ltd or CIBIL as is commonly known is an organisation dedicated to maintaining a record of all credit transactions of individuals. All credit taken from various Banks, NBFC’s & private organisations are duly recorded & a score is generated. A CIBIL score of 720 points & above is considered to be a reasonable score for procuring a personal loan. All credit organisations refer to CIBIL to obtain a history of the applicant’s behaviour with credit; so as to be assured that the funds will be returned on time.

Some organisations require a CIBIL rating to process a personal loan while others are willing to lend to first time credit seekers.

Current Empoyment

The current employer is a major deciding factor for the eligibility for a personal loan. Candidates employed with Economic times listed companies, PSU, Government sector, Ltd or Private ltd companies are liable to get a loan easily from leading Banks & NBFC’S while applicants working with Proprietorship or Partnership companies will be eligible for a personal loan from private financers only.

Working Experience

To be eligible for a personal loan a stable job is mandatory with an experience of a year to 2 years, as per the policy of the loan giver. The applicant should be employed continuously without a break or a major period of unemployment.


For salaried persons requiring a Personal Loan the net salary earned should be 21k per month the salary earned should be on a regular basis. A continuous salary credit of 6 months is mandatory to be eligible for a Personal loan. Most Banks & NBFC’s require that the salary is credited to the Bank account via a direct transfer from the company; alternately a credit from the company should reflect in the Banking. Some organisations do consider a salary cheque deposited on a regular basis. But an applicant receiving salary by cash will not be eligible for a personal loan.


Loan Amount

The loan amount that can be received via a personal loan is from 50k up to 30 lakhs. The applicant can apply for the amount of funds required, but the Bank will sanction the amount the applicant is eligible for.

Interest Rate

The interest for a Personal Loan ranges from 10.99% to 22 % per annum. It is charged at a monthly reducing balance; the interest rate applicable depends upon the loan amount required & the net income of the applicant.


The tenure is the time period for which the loan amount is sanctioned. Standard tenure allowed is from 12 months to 60 months. The loan amount is to be returned via an EMI (equated monthly installement) for the Tenure applied.

Processing Fees

The processing fees are the file charges that are applicable for processing of the Personal Loan request. The charges range from 0.5% to 2.5% as per the policy of the Bank, the loan amount applied for & the profile of the customer.

Preclosure & Part Payment

The Pre closure & Part payment clause in a Personal loan refers to the re payment of the personal loan: as when funds are available with the applicant to return in parts or the complete amount of the loan taken before the completion of the tenure.

The facility to pay back the loan amount is governed by the policy of the Loan issuer. Some allow a payment to be made by the applicant at will without any extra charges while others stipulate a mandatory lock in time period & charges to be levied for pre paying the loan.


While the principles of the personal loan remain the same, there are variations as to the ways a Personal Loan can be offered as per the needs & profile of the customer.

Types of Personal Loans include the following;


An applicant applying for a personal loan to any credit organisation for the first time will be processed as a fresh personal loan. The CIBIL of the applicant will be accessed to check the credit history, if the applicant has a previous relationship with the organisation in the form of a credit card or any secure loan, it will work in his favour.

If the applicant is a first time credit seeker then he should apply to an organisation where it is not mandatory to have a credit score.


If an applicant is previously running a Personal loan, the additional personal loan will be granted as a parallel personal loan. The application for the additional personal loan may be addressed to the previous organisation or a new one.

The parallel loan will be a separate entity from the previous personal loan; the terms & conditions applicable may be different, depending on the current policy of the Bank & the profile status of the applicant.

The applicant can be granted the number of personal loans as parallel loans depending on the eligibility of the applicant.


An applicant requiring an additional amount can apply for a top up to the existing Personal loan. The Top up amount will be added to the existing loan & a new loan will be structured. The terms & conditions of the new loan will be as per the current policy of the Bank. The previous EMI will be discontinued & a fresh EMI will start.


Balance transfer of a Personal loan denotes the reassignment of the existing loan to a new Loan provider.

Under the Balance transfer process the principal balance of an existing personal loan is taken over by an alternate Bank. This scheme is propagated to entice customers with a successful repayment track; Favourable terms & conditions & a lowered rate of interest is provided for the Personal loan post the Balance Transfer. Before applying for the Balance Transfer the applicant should check the pre closure terms & conditions of the existing loan.


What is the amount that can be disbursed as a Personal loan depends on the eligibility of the applicant; though all loan providers have their individual policy, the broader guidelines remain the same.

The eligibility of the applicant is calculated based on the following inputs;

The Monthly Income of the applicant

The income of the applicant is the major factor contributing to the eligibility for the loan amount. As per the guidelines most financers will like to keep a safe margin, so that the applicant can comfortably pay the monthly installement after bearing the living costs for the month. Approximately 50% to 60% of the salary ratio is applied that the applicant can pay as an Emi.

Therefore applicants with a higher income can apply for a higher loan amount as compared to persons earning a restricted income.

If there are more earning members in the family their income can be clubbed together with the income of the primary applicant, it could be the spouse or the parents who are living together in the same residence with the applicant.

The other financial obligations of the applicant

Besides the monthly living expenses the other obligations of the applicant are taken into consideration. These include the monthly rent payable if the house is not self owned other loans the applicant has taken for which the EMI is being paid & credit card dues which are pending.

The CIBIL of the applicant is assessed to know the credit history of the applicant & details of EMI being paid.
All the obligations are deducted from the Income to arrive at EMI the applicant is eligible to pay.

The Company the applicant is currently employed with

An employment with a Company that has a healthy turnover & good prospects for future growth ensures a stability of employment. Applicants working with such organisations are preferred as timely salary & other benefits enable them to pay their dues on time.

All major Personal Loan lenders have established a list of companies categorized as per their profile: applicants working in the preferred company list are offered lower rate of interests & enhanced loan amounts .The tenure offered may also be increased up to 60 months for the re payment of the EMI.


An applicant who has not used credit before & has been freshly employed with no previous experience is considered to be a risk factor for disbursing large loan amounts. Particularly if the candidate is a bachelor & living independently in a rented premise: such applicants will be issued conservative loan amounts in the first chance as compared to an applicant who is living in a self owned/family premise & has a vintage experience at the workplace.


Leading Bank providing Personal Loans are offering loan amounts at competitive rates to salaried TEACHERS .Keeping in mind the exclusive profile of TEACHERS they are treated in a special category; the terms & conditions offered to them are as per the organisations they work with in Public Schools, Private Schools, Government run organisations, Colleges & Universities.

Given below are the salient features of the Major Banks providing Personal Loans to Teachers.


The processing fees are the file charges paid to the Bank for dispensation of the loan amount. The charges applicable are deducted from the loan amount sanctioned. No charges need to be paid upfront while submitting the document as the charges only apply if the loan is sanctioned & disbursed.

  • Personal Loan amount from ₹10 lakhs to ₹30 lakhs
  • Tenure offered for repayment is from 12 months to 60 months
  • Salary requirement is minimum of 20k per month
  • Best in Class rate of Interest for Personal Loans
  • Enhanced Loan Amounts as per requirements
  • CIBIL is not mandatory
  • Personal Loan offered to Pensioners


Salary >20 k >35 k > 50 k > 75k
Rate of interest 17% 16% 15% 12.50%
Processing fees 1.50% 1.50% 1.50% 1.50%
Pre closure After 12 months After 24 months After 36 months
Charges 4% 3% 2%

Personal loan offers are available from ICICI Bank for teachers to fulfil their requirements for finance for personal use. Given below are the major features of a Personal Loan from ICICI Bank:

  • A Minimum Salary of 25k to be credited to salary account to be eligible for a Personal Loan from ICICI Bank.
  • Loan amounts offered from 50 k to 30 lakhs
  • Personal Loan tenure from 12 to 60 months
  • Discounted rates of Interest for applicants with salary credit of above 50k
  • Quick streamlined process with disbursal in 48 hours to 72 hours
  • Rate of Interest offered as per ICICI Bank company list.
  • Special offers are available for Teachers with an account in ICICI Bank


Salary > 25K > 35K 50 K 75 K
Rate Of  Interest 17% 16% 15% 13.50%
Processing Fees 2% 2% 2% 2%
After 6 Months
Preclosure Charges 4%
  • Minimum salary requirement of 20 k
  • Personal Loan amount that can be applied for is from 50k to 25 lakhs
  • Personal Loan tenure from12 months to 48 months
  • CIBIL score is mandatory to apply for a Personal loan from Citi Bank.
  • Company to feature in Citibank company category list
  • Fastest process of Personal Loan disbursement within 72 hours
  • Flexible terms & conditions with pre closure & part payment options


Salary Cat c Cat b Cat a Super a
Rate of interest 17% 15% 14% 12.50%
Processing fees 2% 1% 1% 1%
Preclosure After 6 months After 12 months
Charges 2% 1%
  • Salary credit of 25 k required to be eligible for a Personal Loan from Axis Bank.
  • Tenure of 12 months to 60 months allowed for repayment of the loan amount.
  • Loan amount from 50 k to 20 lakhs can be applied for as a personal loan.
  • Employer of the Applicant should feature in the Axis Bank company category list.
  • Government employees treated as Category B if not featuring in the company category list.
  • Star benefits include pre closure & part payment as per customer convenience, without any extra charge.


Salary Cat c Cat b Cat a Super a
Rate of interest 20% 16% 15% 13.50%
Processing fees 2% 2% 2% 2%
Preclosure Nil
  • Minimum salary of 25k is required to apply for a personal loan from Aditya Birla Capital Limited.
  • Tenure applicable is from 12 months to 60 months.
  • Loan amount of 50k to 20 lakhs can be applied for as a Personal Loan.
  • Special rate & terms offered to applicants working in the preferred company category list.
  • Government employees offered the reduced rate of interest of 12.75%.
  • Pre closure & partial payment allowed.
  • Family member can be included in the loan as a co applicant.


Salary Cat d Cat c Cat b Super a
Rate of interest 16.5% 13.75% 13.25% 12.75%
Processing fees 1.75% 1% 1% 1%
After 12 Months
Preclosure Charges 3%
From Own Funds Nil


HDFC BANK Salary >20k >35k >50k >75k
Rate Of Interest 17% 16% 15% 12.50%
ICICI BANK Salary >25k >35k >50k >75k
Rate Of Interest 17% 16% 15% 13.50%
Company Catrgory 17% 15% 14% 12.50%
Rate Of Interest 17% 16% 15% 13.50%
Rate Of Interest 16.50% 13.75% 13.25% 12.75%


Presented below is an example of the profile of a teacher & the loan amount that can be achieved with the charges typically applicable.


AGE 30 years
NET SALARY ₹ 35000/-


INSURANCE optional


EMI monthly ₹ 6,933.70
INSURANCE (optional) ₹ 1500/-
Standard Schedule of Charges – Personal Loan
Cheque Return Charges ₹750/- + GST instance
Default Penal Interest Rate 2% per month + GST
Charges for Cancellation of Loan 4% + applicable taxes of loan amount disbursed
CIBIL report retrieval fee ₹50/- per instance
Charge For Exchanging PDCs / ECS ₹750/- per instance
Loan Re-schedulement charges 0.50% + GST
Stamp duty As per Actual if applicable
Insurance Premium As per Actual if applicable



Passport size photograph
Current Residence Proof (Driving Licence/Passport /Voter ID/Utility Bill/Aadhaar Card)
ID Proof Driving Licence/Passport /Voter ID/Aadhaar Card
 Pan Card Copy Date of Birth Proof
Aadhaar Card Mandatory
Owner Ship Proof if Residence is self owned


Bank Statement for 3 Months Form 16 for the Current Year
Salary Slip for 3 Months Proof of for 1/2 years job continuity


At Your Loan advisors we believe in hand holding of our customers through the entire process of the Personal loan application; educating our customers as to the various aspects & giving them transparency at all stages. In an attempt to simplify the aspects of a Personal Loan listed below are common FAQ’s

A Personal loan is easily achievable & is the best method to secure funds by salaried individuals for immediate requirements.
A Personal Loan is an unsecure loan which is forwarded to an individual solely on the basis of the applicant’s profile: so why give a precious asset as a security for a gold loan or a property loan when it is possible to get funds via a Personal Loan.
The total time taken to get an approval for a Personal Loan is 48 hours to 72 hours .post approval the funds are transferred by ECS to the applicant’s Bank account.
To be eligible for a Personal Loan the applicant must receive a minimum of 20 k in the salary account for 3 consecutive months.
To be eligible to apply for a Personal Loan the applicant should be a graduate or a diploma holder: having cleared CBSE or equivalent successfully.
All Personal Lenders will forward Loan amounts as per their individual policy. The maximum loan amount universally granted as a Personal Loan is 30 lakhs & the minimum an institution will like to fund is 50k.
Most major Banks & financial institutions provide Personal loans to eligible customers as per the policy. The applicants can also choose the lender with Personal Loan features most compatible to the requirement .Your Loan Advisors provides services without any charges to help & guide Loan applicants as to which Bank will be best suited to them.
It is mandatory for the applicant to have a Bank account; it could be in any Bank & not necessarily in the Bank which is the Personal loan provider.
Major Banks require that the salary amount be received by direct transfer from the company to the applicants account. An exception can be made if the salary amount is received regularly by cheque & deposited in the same account over a length of time.
An applicant should never pay in cash or cheque when submitting the documents. A processing fee is charged by the Bank/NBFC post approval of the loan .The file charges or processing charges levied by the lending institution is always deducted from the Loan amount at the time of disbursal.
An applicant may apply for the Loan amount required but it is up to the Loan provider to sanction the Loan as per the eligibility criteria. Major factors governing the Loan amount given to an applicant are; the income of the applicant, the total obligations, and the policy of the Bank with regard to the applicants profile.
The Personal Loan being an unsecure loan the rate of interest charged is slightly higher than a secure loan: though the minimum rate of interest chargeable is 10.99% @ monthly reducing balance .This rate is given to elite customers with an impeccable track or credit history. The maximum rate is up to 24% @ monthly reducing balance.
A spouse or the parents of an applicant who are earning members can become co applicants for a Personal Loan. The additional income of the co applicant will increase the eligibility for the Loan amount. If the co applicant has a faulty CIBIL record it could adversely affect the Loan approval.
The monthly installement charged for a Personal Loan includes a component of the Principal Loan amount & the interest; thus the loan amount decreases with every monthly installement paid & the interest charged here on will be on the existing principal amount
The Tenure for a Personal Loan is the time for which the Loan amount is borrowed. Personal Loan Tenure ranges from 12 months to 60 months. The Tenure for which the Personal Loan is forwarded is at the discretion of the lending Bank.
The approval for a Personal Loan is valid for a month, if not disbursed during the period the applicant will have to reapply.
Having procured a Personal loan from a financial institute it is important to maintain a timely payback: To maintain regularity & avoid hassles the monthly installement is recovered through ECS or electronic clearing system from the salary account of the applicant.
The ECS is an automated system: it will hit the salary account of the applicant month on month till cancelled or changes as per instructions from the initiating Bank.
If the ECS bounces the applicant should ask for it to be represented & maintain the balance required for clearance of the same. An applicant can pay the pending dues by cheque from an alternate account but the ECS bounce status will remain in the repayment record.
A Personal Loan is financial assistance easily available at the time of a financial requirement; to be able to get further credit readily it is important to maintain a good repayment record. Any delays or default will reflect in the CIBIL record. Maintenance of timely repayment record will ensure a good financial portfolio.