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.

We offer personal loans of up to ₹50 Lakh at competitive interest rates with minimal documentation and quick approval. No collateral requirement, no hidden charges, and no restriction on how you use the money. Use the 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. Apply now! 

Why Choose Poonawalla Fincorp

Loan icon High
Loan Amount
Interest rate icon Competitive
Interest Rate
collateral icon Unsecured
Loan
Document Icon Minimal
Paperwork
Application Icon Digital Application
Process
Zero icon No Hidden
Charges

Personal Loan EMI Calculator

Calculate your monthly repayments in just an instant with our online EMI calculator. Just enter the loan value, 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
12 Months
84 Months

Apply for a Personal Loan Online 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 required 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

You can easily qualify for a Personal Loan in Salem if you meet these simple criteria:

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

  • Here are some tips for you to fulfil the Personal Loan application:

  • Check the eligibility criteria for the Salem Personal Loan to assess your eligibility.

  • Check your credit history and ensure a good CIBIL score before applying.

  • Keep your Credit Utilisation Ratio (CUR) low, along with maintaining a stable repayment history.

  • Avoid multiple applications across different apps or lenders.

  • Fill out the application form with accurate details.

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 an instant Personal Loan in the city of Salem?

Any salaried employee between 21 and 60 years of age with Indian citizenship can apply for a Personal Loan. The applicant must have a full-time job at a reputable organisation, at least one year of work experience, and a monthly earning of ₹30,000.

Is my CIBIL score important when applying for a Salem Personal Loan?

Yes, a credit score showcases your repayment capabilities. A CIBIL score of 750 and above is considered ideal when applying for an instant personal loan. 

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

Poonawalla Fincorp charges a nominal processing fee of up to 3% plus applicable taxes for an instant personal loan. 

Can I get a Salem personal loan without collateral?

Yes, you can easily get a Salem Personal Loan without providing any collateral. Poonawalla Fincorp offers instant Personal Loan options that require no asset security, making the process simple and secure.

How much amount can I apply for in Salem?

You can apply for a loan up to ₹50 Lakh as per your need and eligibility. Our Salem local finance Personal Loan solutions help residents of Tamil Nadu with fast access to funds and quick disbursal.

What are the minimal documentation requirements to apply for a Salem personal loan?

To avail a Salem Personal Loan, you’ll need to submit your PAN card, income proof (like salary slips or bank statements), address proof (such as utility bills or Aadhaar), and identity proof (like voter ID or driving license).

How long does it take for loan approval and disbursal?

Poonawalla Fincorp ensures quick disbursal of your Personal Loan after you submit all the necessary documents. If everything is in order and your CIBIL score reflects a strong credit history, you can expect fast approval. Once approved, the funds are credited directly to your account.

What is the loan tenure offered for a Salem personal loan?

Poonawalla Fincorp offers a repayment tenure of 12 to 84 months for its Salem Personal Loan. You can select a repayment period that matches your earnings and financial situation. Moreover, you can also decide to reduce the tenure of your Salem Personal Loan with our prepayment and part payment options.