Ways Salaried Employees Can Get a Personal Loan in India

Whether it is a planned expense or an unanticipated emergency, a Personal Loan feels like a lifesaver when you have hefty expenses to make, helping you to cover large expenses without dipping into your savings. A personal loan for salaried employees can help you to fund your last-minute trips, debt consolidation, house renovation, medical bills and more.
If you’re looking for a salaried personal loan, then check out Poonawalla Fincorp’s Prime Personal Loan. Read more about it in this blog.

What is a Prime Personal Loan?

If you’re a salaried employee, then a Prime Personal Loan is designed to help you manage your financial situations without any hassle. With its 24x7 availability, you can borrow up to ₹15 lakh without pledging any assets and enjoy instant disbursal. Additionally, this salaried loan comes with flexible repayment tenure and 100% digital application process. 

Benefits of Prime Personal Loan for a Salaried Employee

If you are a salaried employee, these are the features you can get from a salaried Personal Loan:

•    Competitive Interest Rates & Flexible Tenure: If you have a good credit history, then you are eligible for competitive interest rates on a Prime Personal Loan. Additionally, the flexible repayment tenures between 12 to 84 months make it easier for you to manage EMIs without financial strain.
•    Minimal Documentation: Application process is online, minimizing the need for extensive paperwork. Typically, only basic documents such as KYC, financial documents and employment proof are required. However, for pre-approved customers, documentation requirements may be even more minimal.
•    Quick and Easy Loan Disbursal: With streamlined approval processes, you can get a loan for salaried employees in just a few hours. In some cases, if your loan is pre-approved, then, you can enjoy almost instant access to funds.
•    Versatile Usage: You can utilise a salaried Personal Loan for a wide range of purposes such as home renovations, wedding expenses, education, debt consolidation, medical emergencies, purchasing gadgets, or even planning a vacation. The flexibility of usage makes it an excellent financial tool for various needs.
•    Preserve Your Savings: When unexpected expenses arise, a Personal Loan is a great alternative to dipping into your hard-earned savings. It ensures financial stability while covering immediate financial needs.

Various Ways to Get a Salaried Personal Loan

 You can obtain a Prime Personal Loan via one of three main avenues. These are -

Online Lending Apps
This is one of the newest methods for quickly obtaining a Personal Loan. Numerous NBFCs including Poonawalla Fincorp provide speedy disbursement, low-interest rates, and flexible repayment choices for instant Personal Loan. 

Commercial Banks 
Since almost everyone has a bank account, that is the most well-known method of obtaining a Personal Loan that most people are aware of. Most of these banks follow a set process to provide these loans, which includes a rigid repayment option, paperwork, and standard contracts. 

Co-operative Banks 
These banks are more well-liked by rural residents while operating on a far smaller scale than commercial banks. These banks provide lower interest rates and more flexible repayment choices because they are not motivated by profit. 

Poonawalla Fincorp
Poonawalla Fincorp offer the Prime Personal Loan for salaried individuals, providing a convenient and reliable financing option tailored to your needs. It offers you a hassle-free loan that ranges between ₹1 lakh to ₹15 lakh with attractive interest rate starting at 12.65% p.a. and flexible tenures of up to 84 months. 

The entire application process requires basic KYC documents, bank statements, and employment verification via email OTP. You can use this loan for travel, weddings, home renovation, medical emergencies, education, vehicle purchases, and debt consolidation. 

How to Apply for a Prime Personal Loan?

Follow the 3 simple steps to apply:

Step 1: Click on “Apply Now”
Tap on the ‘Apply Now’ button to initiate your application.
Step 2: Enter Your Details
Enter your DOB, PAN card number, monthly income, and residential details.
Step 3: Upload Your Documents
Upload the necessary or required documents for quicker approval.

Once your verification is successful, the loan amount will be disbursed into your bank account instantly.

Also Read: All You Need to Know about Personal Loan Disbursal Process

To Conclude

A salaried personal loan offers an easy and convenient way to manage your financial needs. If you are a salaried employee, you can get a personal loan in India through various ways including online lending applications, commercial banks, co-operative banks and more. With its benefits like competitive interest rate and flexible tenure, minimal documentation, quick and swift loan disbursal the entire loan application process is now easy and quick.
Poonawalla Fincorp offers Prime Personal Loan up to ₹15 lakhs with quick approval and 100% online application process. Apply now and get the funds you need in no time!