Personal Loan For Salaried Employees

Personal Loan for Salaried Employees

Loan up to 30 Lakhs | No Hidden Cost | Collateral Free

The need of funds for various reason never stops. You might need money to pay for your medical expenses, a wedding celebration, a holiday, higher education – the list goes on & on. It can be challenging to pay for such sporadic and unexpected hefty expenses on a fixed monthly salary. This is because planned monthly expenses, existing EMIs, and a fixed set of investments are paid from your salary every month. Hence, there is not much buffer in your savings to pay out a large sum towards any other cash emergency. This is where Poonawalla Fincorp’s Personal Loans for Salaried Employees comes to your rescue. You can avail of this loan irrespective of your nature of employment. These Personal Loans for salaried individuals are offered to employees from private as well as public organizations.

Time is of the essence for salaried employees. We at Poonawalla Fincorp understand this, and hence, we have created a dynamic, flexible, and instant Personal Loan online for salaried employees to suit your demands for timely funds at a low-interest rate. This salaried loan is designed to cater to your convenient and instantaneous loan processing and disbursal requirements. Our online Instant Personal Loan for salaried person is laden with attractive benefits like multi-purpose sanctions, high-value loans, quick approvals, flexible repayment terms, etc., that will delight you. We have created streamlined processes to ensure there is no inconvenience to you during the payment of EMIs.

Various Reasons to Get a Personal Loan for Salaried Persons

Salaried employees may have considerable financial needs and obligations to meet. This Personal Loan can be used for all those umpteen reasons. Poonawalla Fincorp offers multi-purpose Personal Loans for the following reasons:

  • Higher education

    Higher education

  • Wedding celebrations

    Wedding celebrations

  • Medical expenses and hospital bills

    Medical expenses and hospital bills

  • Travel


  • Home redecorations and revamps

    Home redecorations and revamps

  • Consolidating debt

    Consolidating debt


Our Personal Loan for Salaried Employees comes at attractive interest rates starting at just 9.99%* p.a. Personal Loan for Salaried Employees is an unsecured loan and has a wide range of use cases. The loan comes with no end-use restrictions, so you can use it as per your requirement. You just have to apply online on our official website.

Personal Loan for Salaried Employees Interest Rate 9.99%* p.a.
Loan amount Up to ₹30 Lakh
Salaried Loan Tenure 12-60 months
Pre-payment/Foreclosure charges 0%* If paid from own sources

When you consider taking a loan, you have expectations of a smooth and hassle-free loan application process, where you do not have to waste your time hunting for a long list of documents and meeting unnecessarily complicated eligibility criteria. At Poonawalla Fincorp, the Personal Loan eligibility criteria for salaried employees are designed to offer you an effortless qualifying experience and meet your expectations. We have set bare-minimum standards for eligibility criteria to help a maximum number of people with our lending services. Typically, a good credit history and credit score are prerequisites for clearing this eligibility.

Besides these, the eligibility criteria revolve around a few key aspects. These include:

Age logo


Citizenship logo


Monthly salary amount logo

Monthly Income

Employer Category logo


  • Age The applicant should be at least 22 years of age at the time of applying for the loan and a maximum of 57 years of age.
  • Citizenship The applicant must be an Indian citizen.
  • Monthly Income The monthly income of the applicant must be at least ₹30,000.
  • Employment The applicant must have work experience of at least one year. Further, they must be in their current employment for at least one months. This ensures that the applicant has a regular, steady income.

Do note the above-mentioned eligibility criteria is indicative. Additional criteria may be considered during loan processing.

We at Poonawalla Fincorp maintain a minimal documentation policy. The idea is to make our loans easier to get. This policy makes the document submission and verification processes quick. Hence, as a process, we request only a basic set of documents:

  • Identity Proof

    Identity proof

  • Address proof

    Address proof

  • Income Proof

    Income Proof

  • Identity Proof - PAN card or Aadhar card should suffice here.
  • Address Proof - This can be your utility bill, rent agreement, or passport.
  • Income Proof - A salary slip, and bank financial statement would be helpful in this case.

Do note the above-mentioned Personal Loan documents list is indicative. Additional documents may be required during loan processing.

To apply for an instant Personal Loan online for salaried employees, you must submit the required documents and fill out the online application. Your loan will be approved and sanctioned directly to your bank account.

We know cumbersome and unnecessarily lengthy loan application processes can be a big put-off for any prospective borrower. And that is why we have put in place a new-age system and mechanisms that will deliver a delightfully quick experience. The Personal Loan for Salaried Employees by Poonawalla Fincorp can be easily procured, quickly approved, and instantly disbursed to meet your financial obligations without any delay.

Here are some of the features that highlight Poonawalla Fincorp’s Instant Personal Loan Online for Salaried Employees and Personal Loan for Corporate Employees:

  • Unsecured and collateral-free loans logo

    Unsecured and collateral-free loans

  • Short turn around time for loan approval logo

    Short turnaround time for loan approval

  • Quick loan disbursal facility logo

    Quick loan disbursal facility

  • Competitively priced low-interest rate loan schemes logo

    Competitively priced low-interest rate

  • Grant of loans for multiple uses logo

    Multi-purpose loan

  • No foreclosure penalty logo

    No foreclosure penalty

  • No hidden charges logo

    No hidden costs

  • Flexible repayment tenure logo

    Flexible repayment tenure

  • Collateral-free logo

    Easy-to-follow online loan application process

  • Minimal paperwork required logo

    Minimal paperwork required

Semi Circle Logo
Laptop Logo

Apply Online

Click on Apply Now and fill in the complete application.

Semi Circle Logo
Quick approvals

Personal Details

Enter your DOB, qualification and residential details

Semi Circle Logo
Application Verification


Application will then proceed for verification and assessment

What does a Personal Loan for Salaried Employees mean?

Personal Loans for Salaried Employees are unsecured loans that don’t require any collateral. Personal Loan for Salaried Employee can be availed easily and instantly through online application platforms. Poonawalla Fincorp is a new-age financial institution offering salaried loans with lucrative features like flexible repayment terms, high loan amounts, low-interest rates, quick approval, etc. Hence, salaried individuals can opt for this salaried loan to meet their various financial needs without any compromise.

Can I get any tax benefits if I take a Personal Loan for Salaried Employees?

From a taxation point of view, you cannot get any direct, overarching tax benefits by taking such Personal Loans. A Personal Loan taken from a bank, NBFC or any other recognized lender is not a part of your income. Hence, you do not have to pay income tax on the loan amount credited to your account. At the same time, there are no tax benefits on a Personal Loan.

How to calculate the EMIs that I have to pay for my Salaried Loan?

You can easily calculate the EMIs for your loan using Poonawalla Fincorp’s Personal Loan EMI calculator. The details you need to plug in this EMI calculator are your loan amount, the interest at which you can avail of this loan, and your loan tenure. Your EMI amount will be generated automatically in a couple of seconds after clicking on ‘Calculate’ button. Such calculations must ideally be done before you take your loan so you can prepare yourself in advance for systematic loan repayment. Also, it helps you plan your finances much more effectively.

How should I apply for a Personal Loan for Salaried Employees?

The application process for a Personal Loan for Salaried Employees is relatively simple. To apply for this loan from Poonawalla Fincorp, you must:

  • Go to our website and select the ‘Apply Now’ option adjacent to the product page.
  • Fill in the loan application form.
  • Add in the required details and upload the necessary documentation.
  • Your application will be assessed and reviewed. Since it’s an instant online Personal Loan for salaried individuals, it can be called as a Personal Loan against salary.
  • You will receive a notification once your loan is approved.
  • If it is approved, then give approval and authorization to the representative so that the loan can be disbursed.
How much loan amount should I borrow?

You may have big or small financial obligations that you want to clear with the help of a Personal Loan. But since Personal Loans come with a cost, it is imperative to apply for an accurate loan amount as per your requirement to leverage the optimum benefit of the scheme. The loan amount you seek should not exceed your requirement; else, you will face unnecessarily large EMIs or lengthy repayment tenure. Likewise, the amount you apply for should not be lesser than required; else, the whole purpose of taking the loan will fail. Since it is an instant loan for salaried employees and is issued as a Personal Loan against salary, it is imperative to understand that the loan amount should be reconciled with your salary.

Typically, your loan EMI should not exceed 10-20% of your monthly income for a sustainable repayment plan. And if you have other sets of existing financial commitments like fixed investments, debt payments, etc., your total EMIs should be less than 50% of your monthly salary.

What is the best way to repay my loan systematically?

To begin with, you should take an instant loan for salaried employees only if you can pay the EMIs on time throughout the loan tenure. With Poonawalla Fincorp, you can enjoy the benefit of flexible repayment terms. The following steps will help you repay your loan systematically:

  • Understand the quantum of loan you will require based on your financial obligation. Remember, over-borrowing or under-borrowing can lead to a stressed repayment process. Hence, carefully arrive at the loan amount you need.
  • Use Poonawalla Fincorp’s Personal Loan EMI Calculator to explore the several EMI amount options depending on the loan tenure.
  • Choose an EMI amount that can be accommodated without any pressure on your monthly salary after deducting your routine monthly expenses. You must also consider estimates of any expenses that may arise shortly.
  • Once you zero down on an EMI amount that can be easily paid, you must initiate your loan application.
How will taking a Personal Loan to make my life easier?

Taking an online Personal Loan for Salaried Employees can be a wise financial decision as it allows you to pay for your expenses without liquidating any assets. Since these loans are unsecured, you do not have to deposit any collateral against the loan. Such borrowing arrangements take away the stress of losing assets.

Moreover, the Personal Loan interest rate for a salaried employee is competitive when you have a good credit history. Hence, you can benefit from relatively low costs too. But you must know that taking such loans makes the most sense when you use them to pay for contingency purposes or for clearing big-ticket expenses and not risk-related obligations. It is a salaried loan that is issued as an instant loan for a salaried employee.

Hence, a salary loan makes your life easier by offering you a high loan amount to meet your various financial requirements.

Can a salaried person get a personal loan?

Yes, Poonawalla Fincorp offered Personal Loan to Salaried Employees of up to ₹30 Lakh. You just have to fulfil the simple eligibility criteria to avail of the loan.

How soon can I get a Personal Loan for salaried employees?

Once you fulfil the eligibility criteria and submit your online Personal Loan application, you will receive a call from customer support regarding your loan approval status. Post approval, the funds will get disbursed into your account shortly.

Does a salaried loan affect my future credit score?

No. if you are a salaried employee, you can definitely apply for a Personal Loan. Your credit score will only get affected in case you are unable to make your monthly EMI payments or if you default on the loan.

*Terms & Conditions Apply

Explore Types of our Personal Loan Arrow Logo

Insightful Personal Loan Blogs Arrow Logo

Contact Us logo Quick Apply CIBIL Score logo Free CIBIL Whatsapp logo Connect on WhatsApp