Salaried Personal Loan

Don’t wait for your next paycheck to chase your dreams. Whether you’re planning an overseas education, a luxury vacation, or handling an urgent expense, a personal loan for salaried individuals can help you get there.

With a personal loan, you can access up to Rs. 35,00,000 with competitive interest rates starting at just 10.99%. The process is simple and convenient, allowing you to apply online and manage your loan from the comfort of your home. Enjoy flexible repayment options, easy eligibility requirements, and a loan tenure that suits your needs and budget.

Features and Benefits of Personal Loans for Salaried Individuals

High Loan Amount

Personal loans cater to both small and large financial needs. Whether you need Rs. 75,000 or Rs. 35,00,000, you can cover significant expenses such as education or medical bills without delay.

Flexible Loan Tenure

Choose a loan tenure of up to 6 years to make your repayments easier. A longer tenure allows you to adjust your EMIs to fit your financial situation and reduce the risk of default.

Competitive Interest Rates

Enjoy some of the most competitive rates starting from 10.99%. Lower interest rates mean lower monthly payments, making it easier to manage your finances.

No Collateral Required

Unlike secured loans, personal loans do not require you to pledge any assets as collateral. This eliminates the risk of losing your valuables.

Minimal Paperwork

The application process is streamlined and requires minimal paperwork. You can complete the entire process quickly and with ease.

Relaxed Eligibility Criteria

Meeting the basic eligibility requirements is straightforward. This ensures a hassle-free borrowing experience with minimal barriers to approval.

Overdraft Facility

If you need extra funds, you can withdraw additional money up to an agreed limit. You only pay interest on the amount you use.

No Penalty on Pre-Payment

If you come into surplus funds, you can pre-pay up to 25% of the principal amount without incurring any penalties.

Eligibility Requirements

To qualify for a personal loan, you need to meet the following basic criteria:

• Age: Between 21 and 58 years
• Income: Minimum monthly income of Rs. 15,000
• Work Experience: At least one year of work experience

Improving your eligibility can be achieved by adding a co-applicant with a strong income and credit score, maintaining a credit score of 725 or higher, repaying existing debts on time, and opting for a longer repayment tenure.

Required Documents 

Applying for a personal loan involves minimal documentation. Typically, you will need:

1. ID Proof:Voter ID, Passport, Aadhaar card, or Driving License
2. Address Proof
3. Income Proof:Salary slips for the last two months
4. Bank Statements:For the latest three months
5. Employment Certificate

Application Process 

You can apply for a personal loan either online or offline. For online applications, fill out the form and submit the required documents. For offline applications, visit a branch and speak with a representative for assistance.

Understanding the interest rates and associated charges is crucial to ensure your loan remains affordable and manageable. By carefully planning, you can make the most of your personal loan and achieve your financial goals.