Personal Loan For Salaried Employees

Personal Loan for Salaried Employees

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

As a salaried employee, don’t wait for your salary to be credited to your account to realise your dreams. Whether you want to go abroad for education, renovate your home or plan a wedding, Poonawalla Fincorp’s Personal Loan for Salaried Employees provides the perfect financial solution for all your needs.

You can get a Personal Loan up to ₹30 Lakh at the most competitive interest rates, starting at 9.99% per annum. You also get flexible EMI options and up to 60 months of repayment tenure. These loans empower you to tackle all your planned and unexpected expenses.


To help fulfil your dreams, the Personal Loan for Salaried Employees interest rate at Poonawalla Fincorp is one of the most competitive in the market, starting at 9.99%* per annum. The table below lists other charges.

Interest Rate 9.99%* p.a. onwards
Amount ₹1 Lakh to ₹30 Lakh
Processing Fees Up to 2% plus tax
Lowest EMI Starting from ₹2,124* per Lakh for 60 months
Tenure 12 – 60 months
Prepayment/Foreclosure Charges 0%* If paid from own sources & 4% If paid from other sources
Default Interest 2% per month
Repayment Instrument Dishonor Charges ₹500 per bounce plus applicable taxes
Stamp Duty At actuals (as per state)
Hidden Charges Nil

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:

Credit Score logo

Credit Score

Age logo


Citizenship logo


Monthly salary amount logo

Monthly Income

Employer Category logo


  • Credit Score - 750 and above.
  • Age - Between 22 and 57 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

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:

  • Identity Proof

    Identity proof

  • Address proof

    Address proof

  • Income Proof

    Income Proof

  • Identity Proof - PAN Card/Aadhaar Card/Driving Licence/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.

Getting a Personal Loan for Salaried Employees from Poonawalla Fincorp is easy, requires no collateral and has minimal documentation needs. It comes with a range of other features and benefits including:

  • Unsecured and collateral-free loans logo

    Instant Disbursal

  • Short turn around time for loan approval logo

    Minimal Documentation

  • Quick loan disbursal facility logo

    No hidden costs

  • Competitively priced low-interest rate loan schemes logo

    Flexible repayment tenure

  • No hidden charges logo


  • No foreclosure penalty logo

    Competitive interest rate

  • Flexible repayment tenure logo

    No End Usage Restriction

  • Minimal paperwork required logo

    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 60 months.
  • Collateral-free : No need to pledge collateral to get a Personal 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!
Semi Circle Logo
Laptop Logo

Apply Online

Click on ‘Apply Now’ and complete the application form

Semi Circle Logo
Quick approvals

Personal Details

Enter your DOB, qualification, and residential details

Semi Circle Logo
Application 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.

What does a Personal Loan for Salaried Employees mean?

As the name says, a Personal Loan for Salaried Employees is specifically meant for salaried individuals. It is an unsecured loan, which means you don’t have to provide any collateral against the amount you borrow. At Poonawalla Fincorp, we provide Personal Laon for Salaried Employees with attractive features and benefits like competitive interest rates, flexible repayment terms, quick approval, etc.

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

No, there are no direct benefits associated with Personal Loan for Salaried Employees. However, if you use the loan for specific purposes as discussed below and provide evidence, you can avail tax benefits.

  • Home renovation : If you avail of a Personal Loan for home repair, you can avail of a tax benefit of up to ₹30,000 in a year on the interest paid under Section 24(b) of the Income Tax Act.
  • Home purchase or construction : If you take a Personal Loan for Salaried Employees to buy or construct a new home, you can claim tax benefit on interest paid up to ₹ 2 Lakh under Section 80E of the IT Act.
  • Education expenses : If you use a Personal Loan for Salaried Employees to pay the education fees for yourself or your family members (spouse and kids), you can claim tax benefit on the interest paid under Section 80E of the Indian Income Tax Act. You can claim the deduction for a maximum of eight years or until you repay the loan, whichever is earlier.
How to calculate the EMIs that I must pay on my Personal Loan for Salaried Employees?

If you have availed of a Personal Loan for Salaried Employees from Poonawalla Fincorp, 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.

Calculating the EMI payable on your Personal Loanfor Salaried Employees beforehand is a good practice. It allows you to plan your finances and manage repayment efficiently.

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

At Poonawalla Fincorp, we have a simple online application process. To avail Personal Loan for Salaried Employees, follow the below 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.

How much loan amount should I borrow?

Applying for a Personal Loan for Salaried Employees is a great way to get funds and meet your financial obligations. At Poonawalla Fincorp, we provide loan up to ₹30 Lakh, and you can borrow any amount to suit your needs.

However, getting approval for the amount will depend on whether you meet the eligibility criteria or not. Also, it is advisable to assess your needs carefully and not borrow more than your requirement as you must repay the amount with interest.

What is the best way to repay my loan systematically?

When you avail of a Personal Loan for Salaried Employees, you must repay the amount, i.e., EMI (equated monthly instalments) on time till the end of the tenure. You can follow the below steps to manage the repayment better:

  • Choose the amount carefully : Assess your financial needs/obligations carefully and choose the loan amount accordingly. You must be able to repay the amount you borrow without feeling any financial strain.
  • Use the EMI calculator : When you apply for a Personal Loan for Salaried Employees, it is a good practice to use the EMI calculator. It allows you to know the exact amount you must repay every month. Thus, you can make informed borrowing decision and choose an amount so that the EMI is affordable.
  • Select the tenure carefully : The repayment tenure you choose has a direct impact on the EMI and affordability. At Poonawalla Fincorp, we offer Personal Lan for Salaried Employees with flexible repayment tenure ranging from 12 to 60 months. You can choose the tenure carefully so that repay the amount without facing any financial burden.
How will taking a Personal Loan make my life easier?

Taking a Personal Loan for Salaried Employees from Poonawalla Fincorp can make your life easier in following ways:

  • You can avail of a loan up to ₹30 Lakh and meet all your financial needs/obligations.
  • The simple online application process allows you to get instant approval and funds credited to your back account.
  • The flexible repayment tenure up to 60 months allows you to repay the amount easily without feeling any financial strain.
  • It is an unsecured loan. So, you need not worry about providing any collateral.
  • The interest rate is competitive, starting at 9.99%. The means, your EMI will be affordable.
Can a salaried person get a personal loan?

Yes, if you are a salaried individual, you can easily get a Personal Loan for Salaried Employees up to ₹30 Lakh from Poonawalla Fincorp, provided you meet our simple eligibility criteria. We provide Personal Loan at competitive interest rate starting at 9.99%.

How soon can I get a Personal Loan for Salaried Employees?

Once you submit your Personal Loan for Salaried Employees online application form, you will get a call from the Poonawalla Fincorp’s customer support representative to inform you about the loan approval status. Once you get the approval, you will get he funds credited in your bank account immediately.

Does a salaried loan affect my future credit score?

No, taking a Personal Loan for Salaried Employees has no direct effect on your credit score, provided you make your monthly EMI payments on time. But, if you default on the repayment or delay the EMI payment, your credit score will get affected.

*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