Cover Your Expenses With a Personal Loan for Salaried Employees
As a salaried employee, don’t wait for your salary to be credited to your account to meet your financial obligations. From higher education bill payments to taking a vacation, get a Personal Loan of up to ₹50 Lakh from Poonawalla Fincorp. Enjoy competitive interest rates, minimal documentation, quick approval, and no hidden charges. Apply now!
EMI Calculator for Loan for Salaried Person
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Interest Rate for Loan for Salaried Employees
Poonawalla Fincorp offers the best interest rate for loan for salaried individuals:
| Interest Rate | 9.99%* p.a. onwards |
| Amount | ₹1 Lakh to ₹50 Lakh |
| Processing Fees | Up to 3% |
| Lowest EMI | Starting from ₹2,124* per Lakh for 60 months |
| Tenure | 12 – 84 months |
| Prepayment/Foreclosure Charges | 0% If paid from own sources 4% If paid from other sources |
| Default Interest | 2% per month |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Hidden Charges | Nil |
Eligibility Criteria for Personal Loan for Salaried
At Poonawalla Fincorp, the eligibility criteria for loan for salaried person is simple to provide you with a hassle-free experience. The aspect of eligibility criteria include:
Credit Score
Age
Citizenship
Monthly Income
Employment
- Credit Score - 750 and above.
- Age - Between 21 and 60 years.
- Citizenship - The applicant must be an Indian citizen.
- Monthly Income - The applicant must earn a minimum monthly salary of ₹30,000.
- Work Experience - Must have at least one year of work experience and at least one month of stable employment with the current employer.
Note: The eligibility mentioned above list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp
Documents Required for Loan for Salaried Individuals
Our simple documentation process ensures that you don’t deal with a lot of paperwork. You only need to submit a few basic documents, including:
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Identity proof
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Address proof
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Income Proof
- Identity Proof - PAN Card/Aadhaar Card/Driving License/Voter ID/Passport or any other government-issued ID.
- Address Proof - Utility bills, rent agreement, or passport.
- Income Proof - Latest salary slips for the last 3 months and bank statement.
Note: The above-mentioned loan documents list is indicative. Additional documents may be required during loan processing.
Advantages of Personal Loan for Salaried Employees
Getting a loan from Poonawalla Fincorp is easy and requires minimal documentation. It comes with a range of other features and benefits, including:
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Instant Disbursal
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Minimal Documentation
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No hidden costs
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Flexible repayment tenure
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Collateral-free
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Competitive interest rate
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No End Usage Restriction
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Easy Application
- Instant Disbursal : Get the loan directly into your bank account after verification.
- Minimal Documentation : Provide your KYC documents and address proof.
- No hidden costs : All fees and charges are disclosed.
- Flexible repayment tenure : Repay the loan at your convenience with a loan tenure of up to 84 months.
- Collateral-free : No need to pledge collateral to get the loan.
- Competitive interest rate : The interest rate is competitive, starting from 9.99% per annum.
- No End Usage Restriction : Use the loan to meet any financial requirement.
- Easy Application : Just hit the ‘Apply Now’ button to get a cash loan!
Apply for Loan for Salaried Employees within 5 Minutes
Apply
Online
Apply Online
Click on ‘Apply Now’ and complete the application form
Personal
Details
Personal Details
Enter your DOB, qualification, and residential details
Verification
Verification
Submit and upload all details for verification and assessment
Once your documents are verified, the approved amount will be credited to your bank account.
Frequently Asked Questions About Loan for Salaried
A Personal Loan for salaried employees is an unsecured loan for individuals drawing a monthly salary of at least ₹30,000. Get up to ₹50 Lakh at competitive interest rates with minimal documentation and quick approval.
You can easily calculate the EMIs using the EMI calculator on our website. It is an easy-to-use online tool that provides accurate results instantly. You must enter basic details like loan amount, tenure, and interest rate.
At Poonawalla Fincorp, we have a simple online application process. To apply, follow the mentioned steps:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
You must borrow the loan based on your financial needs. We offer up to ₹50 Lakh at affordable interest rates with flexible repayment tenure.
You can repay the loan through EMIs, prepayment or foreclosure. The best way to repay the loan depends on your financial situation and budget.
You can make your life easy with a Personal Loan by helping pay for various expenses like:
- Home renovation
- Wedding
- Medical emergencies
- Higher education
- Travel
Yes, if you are a salaried individual, you can easily get a loan of up to ₹50 Lakh from Poonawalla Fincorp, provided you meet our simple eligibility criteria. We provide a Personal Loan at competitive interest rates starting at 9.99%.
You can get approval and disbursement instantly after successful verification and approval.
Applying for the loan may temporarily reduce your credit score as a hard inquiry is generated when lenders check your score. However, with timely repayments, your credit score can be improved.
*Terms & Conditions Apply
