Loan Amount
Up to ₹50 Lakh
Interest Rate
Starting at 9.99%* p.a.
Loan Tenure
12-84 Months

Avail of a Quick Personal Loan in Salem

Salem is known for its steel, textiles, sandalwood, coffee, silverworks and mining industries. Take advantage of this city’s industrial growth and meet your financial needs with a Personal Loan in Salem from Poonawalla Fincorp. Use the loan amount for vacation, medical emergencies, funding wedding expenses, higher education, or any other personal need.  

Our collateral-free loan comes with flexibility and no-end use restriction. Get a high loan amount of up to ₹50 Lakh at competitive interest rates with minimal documentation, quick approval, and no hidden charges. Apply now! 

Why Choose Poonawalla Fincorp

High
Loan Amount
Competitive
Interest Rate
Unsecured
Loan
Minimal
Paperwork
Digital Application
Process
No Hidden
Charges

Personal Loan EMI Calculator

Calculate your monthly repayments in just an instant with our online EMI calculator. Just enter the loan amount, interest rate, and tenure. Try now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹100000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
9.99 %
30 %

Tenure

Months
12Months
84Months

Apply for a Personal Loan in Just 3 Steps

Step1

Click on “Apply Now”

Tap the “Apply Now”button to initiate your application.

Step2

Enter Details

Enter your DOB, PAN card number, monthly income, KYC details and residential details.

Step3

Upload Documents

Upload the necessary documents for quicker approval.

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

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for a Personal Loan in Salem

Qualify for a personal use loan with our simple eligibility criteria:

  • Age: Between 21 and 60 years.
  • Citizenship: Indian.
  • Monthly Salary: At least ₹30,000.
  • Employment: Full-time employment with a private or public limited company.
  • Work Experience: Minimum 1 year, with 1 month in the current company.

Documents Required for a Personal Loan in Salem

Skip the hefty paperwork and submit just a few essential documents:

  • KYC Documents: Aadhaar Card, PAN Card, Driving License, Passport or Voter ID.
  • Address Proof: Electricity Bill, Passport or Rent Agreement.
  • Income Documents: Past 1 month salary slip.
  • Financial Documents: Bank statements for the last 3 months.
  • Employment Proof: Official employee mail ID or ID card.

Interest Rate and Charges for a Personal Loan in Salem

We offer loans for personal use at attractive interest rates and minimal charges:

Interest Rate
9.99%*p.a. onwards
Loan Amount
₹1 Lakh to ₹50 Lakh
Loan Processing
Up to 3% plus applicable taxes
Lowest EMI Per Month
Starting from ₹2,124* per Lakh for 60 months
Loan Tenure
12-84 months
Prepayment/Foreclosure Charges
1. Before repayment of first six EMI:
i) If Foreclosure or Prepayment is done including balance transfer from another financial institution – 4 % on amount being prepaid plus applicable taxes.
2) After repayment of first six EMI:
i) If Foreclosure or Prepayment is done from own funds of the Borrower- Nil charges.
ii) If Foreclosure or Prepayment is done any other source including by balance transfer from another bank/financial institution- 4% on amount being prepaid plus applicable Taxes.
Default Charges
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500 per bounce plus applicable taxes
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf

*T&C Apply

Different Uses of a Personal Loan in Salem

  • Cover unexpected medical costs 
  • Finance your wedding  
  • Give your home a new look 
  • Handle unexpected expenses 
  • Plan and fund your trips 
  • Upgrade your household appliances 

Who Can Get a Personal Loan in Salem

  • Salaried individuals
  • Salaried doctors
  • Salaried Chartered Accountants
  • Salaried Company Secretaries

Tips for a Successful Personal Loan Application

  • Have all required documents ready 
  • Check your credit score 
  • Verify your eligibility  
  • Provide accurate and complete information  
  • Avoid multiple loan applications  
  • Keep your Credit Utilisation Ratio (CUR) low 

Poonawalla Fincorp Branch Address in Salem

Poonawalla Fincorp Limited
Address: No 258/2,2/91, 2nd Floor, Sri Vaari Shopping Mall, New Bus Stand Main Road, Meyyanur, Salem, Tamil Nadu-636004 
Contact Number: 1800-266-3201 (Toll Free)
Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays)

*T&C Apply

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

Who can get a Personal Loan in the city of Salem?

Any salaried employee between 21 and 60 years of age with Indian citizenship can apply. Moreover, they must have a full-time job at any reputable organisation, at least one year of job experience, and a monthly salary of at least ₹30,000. 

Is my credit score important when applying for a Personal Loan?

Yes, a credit score is one of the important eligibility criteria. It depicts your creditworthiness and showcases your repayment capabilities. A CIBIL score of 700 and above is considered ideal. 

What is the processing fee associated with a Personal Loan from Poonawalla Fincorp?

We charge a nominal processing fee of up to 3% plus applicable taxes for loans for personal use.