APSRTC CCS Loan: Eligibility Criteria, Secret To Get Faster Loan Approval 

The full form of APSRTC is Andhra Pradesh State Road Transport Corporation. This is a loan program that is specially designed for employees who work in Andhra Pradesh State Road Transport Corporation. Interestingly, this loan is also known as the Contributory Contributory Service Loan.

The employees who work under APSRTC can get an easy loan from this scheme or program. Through this program, the employee can get a loan of up to Rs 5 lakhs after they meet all the requirements and eligibility criteria properly.

The primary goal of this loan is to support the employees working under APSRTC with proper financial assistance to meet personal and other necessary needs such as education, healthcare, home renovations, home purchase, and many more. 

Now, the most interesting part of this scheme is its interest rates. The interest rate charged to the employees who have taken a loan in this scheme is very much favourable. Other than that, employees who have taken a loan have a flexible repayment option.

It is one of the most affordable and convenient loans that an employee can take who is working under APSRTC. If any reader working in this department is willing to take a loan, then this could be the right opportunity for them.

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Eligibility Criteria for APSRTC CCS Loan

If you are willing to apply for this loan then ensure all the loan eligibility criteria, terms, and conditions are met. Without meeting the eligibility criteria you will not be allotted a loan under this program. Now, here are the loan eligibility criteria:-

• The first and basic criteria of this scheme are the applicant must be an employee of APSRTC
• They can either be a permanent employee or have worked for a minimum of ten years and not below that to be eligible for the loan 
• You need to be an employee and member of the APSRTC CCS Loan program 
• Applicants must have a clear loan repayment history with APSRTC or any other recognized company
• The age criteria to be eligible for this loan scheme must be met as per the rules set by APSRTC 
• Employees must maintain proper balance in the CCS account 
• Applicants or employees must not have any kind of outstanding loans on the pension account 

Documents Required for APSRTC CCS Loan

Without proper documents getting or thinking of getting a loan is a waste of time. The first thing that you must collect and get ready is all the required documents for this loan. Make sure all the documents are ready and up-to-date.

Make sure all the information is mentioned in your Aadhar card, PAN Card, or Voter ID card. These simple documents play a significant role while sanctioning any loan amount from any company or scheme. 

Here are the documents required for any applicant who is willing to take a loan:-

• Documents for proof of identity Aadhar card, Passport, PAN Card 
• Passport size photographs 
• Ration Card, Utility Bills, Lease Agreement, and Electricity Bills for any last three or four months are required for proof of address 
• Proper bank statements are required for the past few months 
• Employee details such as contact number, email address, home address, alternate phone number, and fax number 

How to Apply for APSRTC CCS Loan?

Here is the simple process of how an employee can apply for an APSRTC CCS Loan:-

• Employees are required to visit the official loan webpage of this program and search for the designated loan application portal 
• The second step is to fill out the application form with the proper details 
• You are then required to attach all the required documents 
• Before clicking on the submit button make sure you review the application 
• After rechecking all the details click on the submit button 

APSRTC CCS Loans Pros and Cons

Here are the pros of APSRTC CCS Loans

• Loans taken under this program generally have lower interest rates. The interest rates are typically lower as compared to other personal loan options that are available in the market. 
• Once all the loan approvals are done, applicants get their loans sanctioned very quickly. The loan approval process under this program is very quick and hassle-free. 
• Applicants who have taken a loan under this scheme can enjoy the benefit of flexible repayment options. They can either repay in monthly installments, through an online portal, or through salary deductions, and many more
• Loans taken under this scheme can be used for any purpose that the owners want. 

Here are the cons of APSRTC CCS Loans

• The first and major con of this loan is that it is limited to only APSRTC employees and not to anybody else. 
• Employees who have worked hard for many years will get a limited loan amount under this scheme 
• If any employee who has failed to pay the loan may result in penalties or additional charges for their next payment duration. 

What happens if you Default on the Loan?

If the loan receiver gets default then the government recover the money from the pension. On the other hand, if the pension is insufficient, then they recover from their legal heirs. This is the simple procedure followed by the program who are lending out loans to potential employees. 

How to Get APSRTC CCS Loan Balance? 

If you are willing to get or know the APSRTC CCS Loan balance then you are required to visit the official website and fill out all the required details and that is how you will get APSRTC CCS Loan balance.