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Personal Loan for Railway Employees

As a railway employee, your income is steady—but life can still bring unexpected expenses. Whether it's a medical emergency, home upgrade, or a family trip, dipping into your savings isn't always the best move.

That’s where FIRSTmoney Personal Loan can help. It’s designed to offer quick financial support with complete flexibility—no collateral needed. Enjoy a fully digital application, fast approvals, competitive interest rates, and zero foreclosure charges.

With FIRSTmoney, you get the funds you need and the freedom to repay on your terms—without added financial stress. Read on for more

FIRSTmoney personal loan features

A FIRSTmoney smart personal loan offers railway employees a convenient borrowing experience with numerous advantages that include:

Competitive interest rates Competitive interest rates

Competitive interest rates

Enjoy attractive interest rates starting at just 9.99% per annum, tailored to your financial profile.

Zero foreclosure charges Zero foreclosure charges

Zero foreclosure charges

FIRSTmoney allows railway employees to pre-close their loans in full anytime without penalties.

Flexible loan tenures Flexible loan tenures

Flexible loan tenures

Choose repayment tenures that align with your financial goals, ranging from 9 months to 60 months.

100% digital process 100% digital process

100% digital process

Enjoy a completely digital application process to obtain instant loans without any paperwork.

Higher loan amounts Higher loan amounts

Higher loan amounts

Avail loan amounts of up to ₹10 lakh instantly depending on your eligibility and financial standing.

Multiple on-demand loan Multiple on-demand loan

Multiple on-demand loan

Railway employees can apply for additional loans with just a few clicks to meet their urgent financial requirements.

FIRSTmoney personal loan benefits for railway employees

Railway employees can enjoy several advantages with the FIRSTmoney personal loan:

Quick and easy application Quick and easy application

Quick and easy application

A fully digital process for a hassle-free loan application.

Flexible repayment tenure Flexible repayment tenure

Flexible repayment tenure

Choose a repayment schedule that suits your financial capability.

No prepayment penalty No prepayment penalty

No prepayment penalty

Pre-pay your loan without any extra charges.

Instant access to funds Instant access to funds

Instant access to funds

Once approved, the loan amount is credited within 30 minutes.

Quick and easy approval Quick and easy approval

Quick and easy approval

You only need your PAN card during the video KYC (V-KYC) process.

How to apply

Applying for a FIRSTmoney personal loan for railway employees is simple and can be completed in a few steps:

Click on Apply Now

Step 1

Click on Apply Now to start your personal loan application process

Register with your mobile number

Step 2

Register with your mobile number

Check your eligibility

Step 3

Confirm basic details to check your eligibility

Choose loan preferences and link your bank account

Step 4

Choose your loan preferences and link your bank account

Get loan amount credited in bank account

Step 5

Once verified, receive the loan amount in your account within 30 minutes

Eligibility criteria

To qualify for a FIRSTmoney smart personal loan, railway employees must meet the following criteria:

Employment Employment

Employment status: Applicants must be salaried employees or self-employed with stable income.

Age Age

Age: Applicants must be between 21 to 60 years.

CIBIL Score CIBIL Score

Credit score: A CIBIL score of 730 or above is required for loan approval.

Documents required

Identity Proof Identity Proof

With FIRSTmoney, railway employees benefit from a minimal documentation process. The only required document is your PAN card which is used for V-KYC verification. Thus, eliminating paperwork and physical document submission.

With FIRSTmoney, railway employees benefit from a minimal documentation process. The only required document is your PAN card which is used for V-KYC verification. Thus, eliminating paperwork and physical document submission.

Fees and charges

The following table outlines the fees and charges applicable to a FIRSTmoney personal loan for railway employees:

Charges

Details

Interest Rate

Starting from 9.99%, based on creditworthiness

Processing Fee

2% of the principal loan amount

Foreclosure Charges

Zero foreclosure charges

Overdue EMI Fee

2% of the overdue EMI amount

 

With competitive interest rates and zero foreclosure charges, a FIRSTmoney personal loan for railway employees is a cost-effective and flexible financing solution.

Tailored Personal Loan Options

Tailored Personal Loan Options

Wedding Loans

Make your wedding dreams a reality with our smart personal loan for weddings designed exclusively for those who deserve it the most. Rather than depleting your savings or resorting to high-interest credit cards, a FIRSTmoney smart personal loan allows you to maintain financial stability as you start a new chapter of your life. Here's how our loan can add value to your special day:

  • ► From venue rentals to catering costs and everything in between, FIRSTmoney offers up to a ₹10 lakh personal loan, allowing you to cover all aspects of your wedding expenses with ease
  • ► Completely paperless, quick and digital personal loan application process
  • ► Attractive fixed interest rate (on a monthly reducing basis) commencing at 9.99% p.a. only
  • ► No need for collateral or security
  • ► Enjoy flexible loan repayment terms extending up to 60 months

Travel Loans

Embark on your dream adventures with an online personal loan designed exclusively for elite travellers like you. Whether you're planning a luxurious getaway, an exotic expedition, or a cultural exploration, a FIRSTmoney loan offers the financial freedom to turn your travel aspirations into reality.

With competitive rates and flexible terms, a FIRSTmoney smart personal loan empowers you to book premium accommodations, indulge in once-in-a-lifetime experiences, and create unforgettable memories without compromise. Apply for a travel personal loan seamlessly on an end-to-end digital journey and make Instant bookings without dipping into your savings.

Advantages of a FIRSTmoney smart personal loan for travel expenses:

  • ► Get instant access to funds, anytime, anywhere, in your bank account; 24x7, in just a single step.
  • ► Attractive fixed interest rate (on a monthly reducing basis), starting at 9.99% p.a. 
  • ► No need for collateral or security deposit to set up a loan.
  • ► By responsibly managing your personal loan, you can enhance your credit profile, opening doors to even greater opportunities for future travel endeavours.    

Education Loans

In times of financial emergencies, FIRSTmoney smart personal loan stands as a beacon of stability and support. Instead of depleting your savings or tapping into your investment accounts, this smart personal loan enables you to preserve your financial reserves for long-term goals. Here's how our emergency loan can be a lifeline during uncertain exigencies:

  • ► Effortless online application process with complete digital verification - apply in 2 easy steps for an emergency personal loan online
  • ► Get the loan amount credited promptly to your bank account on the same day
  • ► No collateral requirement for emergency personal loans
  • ► Flexible loan repayment tenure of up to 60 months
  • ► Attractive fixed interest rate (on a monthly reducing basis) starting from 9.99% p.a. only
  • ► Safeguard your financial stability with this personal loan in the face of emergencies

Home Renovation Loans

Renovating your home or any structural upgrades can put a significant financial strain on your savings and personal loan proves to be a reliable solution. Manage and plan your home improvement expenses depending on your needs with FIRSTmoney, our smart, instant personal loan. Apply for a personal loan online and get approved seamlessly.

  • ► Can act as a top-up to your home loan
  • ► Can serve to pay for renovation and expenses in parts
  • ► Access funds anytime anywhere
  • ► No need for collateral or security to apply for this personal loan
  • ► Attractive fixed interest rate (on a monthly reducing basis) starting at just 9.99% p.a.

Frequently Asked Questions

What is a personal loan for railway employees?

A personal loan for railway employees is an unsecured loan that can help them meet their financial needs, whether for medical emergencies, home renovations, education expenses, or travel. With FIRSTmoney, railway employees can get a fully digital, hassle-free personal loan with flexible repayment options and competitive interest rates, ensuring financial convenience.

Who is eligible for a personal loan for railway employees?

To qualify for a FIRSTmoney personal loan for railway employees, applicants must:

• Be a salaried employee or a self-employed individual with stable income.

• Be between 21 to 60 years of age.

• Have a CIBIL score of 730 or above.

• Maintain a stable monthly income with a valid Indian bank account.

What are the benefits of a personal loan for railway employees?

With FIRSTmoney, railway employees enjoy several advantages, including:

• Instant approval & quick disbursal – Funds are credited within a few hours.

• Zero foreclosure charges – Close the loan anytime without extra costs.

• Flexible repayment tenure – Choose a repayment period that suits your budget.

• 100% digital process – Apply online with minimal documentation.

• High loan amounts – Borrow up to ₹10 lakhs instantly based on eligibility.

What is the loan amount that a railway employee can get?

Railway employees can avail a personal loan ranging from ₹50,000 to ₹10 lakh, depending on their income, credit score, and repayment capacity. The loan amount is determined based on an individual assessment to ensure responsible borrowing.

What is the interest rate for railway employees?

The interest rate on a FIRSTmoney personal loan for railway employees is competitive and varies based on the applicant’s credit profile, income, and repayment history. Railway employees can check their applicable interest rate during the loan application process.

What is the repayment tenure?

FIRSTmoney offers flexible repayment tenures, allowing railway employees to repay the loan over a period ranging from 9 months to 60 months, ensuring financial convenience.

What documents are required?

Applying for a FIRSTmoney personal loan for railway employees is simple, requiring minimal documentation. Only a PAN card is needed for V-KYC verification, eliminating any lengthy paperwork requirements.

Can I apply if I have an existing loan?

Yes, railway employees can apply for a FIRSTmoney personal loan even if they have an existing loan, provided they meet the eligibility criteria and credit assessment requirements.

How quickly can I get a personal loan for railway employees?

With FIRSTmoney’s 100% digital process, eligible railway employees can get instant approval and receive funds within a few hours of loan approval, ensuring quick access to financial support.

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