Personal Loan for Salaried Employees to Cover All Your Financial Needs
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, Our Lender’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.
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Personal Loan for Salaried Employees Interest Rate
To help fulfil your dreams, the Personal Loan for Salaried Employees interest rate at 1Rupay’s Lender’s 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 | 3% per month |
| Repayment Instrument Dishonor Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Hidden Charges | Nil |
Personal Laon for Salaried Employees Eligibility Criteria
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 1Rupay.com’s platform, 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
Age
Citizenship
Monthly Income
Employment
- Credit Score – Minimum 700 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 our Lender’s.
Documents Required
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
Address 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.
Features and Benefits of Personal Loan for Salaried Employees
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:
Instant Disbursal
Minimal Documentation
No hidden costs
Flexible repayment tenure
Collateral-free
Competitive interest rate
No End Usage Restriction
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!
Apply for Personal Loan for Salaried Employees within 5 Minutes
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Verification
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*****Once your documents are verified, the approved amount will be credited to your bank account.