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Personal Loan For Salaried

Personal Loan for Salaried

For a salaried person, an emergency cash requirement would create a dent in their monthly financial budget or require them to dip into their savings. An instant personal loan for salaried employees can help avoid both. Instead of compromising on monthly expenses or dipping into savings, individuals can consider taking this loan.

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When you are living your life from paycheck to paycheck, many of your dreams get pushed aside, and you dread any emergency, unplanned expense, or sudden cash crunch, as these can cause a dip in your savings. Another way to deal with such situations and financial needs is through a personal loan for salaried from Finnable. Our personal loan for salaried employees lets you easily meet travelling expenses, education plans, home renovation, weddings, medical emergencies, or any other expenses. This loan helps salaried employees manage any extra expenses that may crop up. 

A personal loan is the perfect credit instrument to help meet your financial requirements for various purposes at short notice. A personal loan is a quick, easy, and convenient yet affordable financial solution that lets you meet your short-term funding needs. These loans are multipurpose and can be used to meet any financial requirements. Moreover, these loans are unsecured, do not require any collateral or security, and can be repaid in easy monthly installments across a flexible tenure. The process for availing Finnable’s instant personal loan for salaried employees is simple, hassle-free, and requires minimal paperwork.

Get Instant Personal Loan For Salaried

With Finnable, you get an instant personal loan for salaried for any purpose. We offer quick approval and disburse funds within just 24 hours. Our loan is available at the most competitive interest rates, and there are no hidden charges. Moreover, we offer flexible repayment plans, and you can choose a tenure that best suits your repayment capacity. You can avail of this loan without pledging any collateral or providing any security. The application process is very simple, and you do not have to meet an extended list of eligibility criteria. This makes our personal loan for salaried easy to get and process, hence reducing delays that could affect disbursal. At Finnable, we offer ease of access, complete transparency, simple criteria, and online provisions as some of the many benefits to enable our borrowers to get instant loans. 

Why Finnable For Salaried Personal Loan?

Finnable is the fastest-growing NBFC offering different types of personal loans for salaried employees. We understand our customers and their various financial needs and provide them with customised solutions. We fulfil all your plans be it travelling, higher education of kids, upcoming wedding expenses, or any other financial needs, by offering you easily available personal loans. Our loan experts guide you through the entire process. 

You enjoy a variety of benefits from availing of a personal loan for employed from Finnable. This involves access to a loan that requires no security or collateral and minimum documentation. We offer competitive interest rates with quick processing and instant approval. We provide you with loans to fund any of your financial needs with flexible repayment options with flexible tenure of up to 5 years. Salaried people can avail of a personal loan through a simple and hassle-free process, repayable as EMIs for a maximum term of four years. You can easily avail of unsecured loans for any financial purpose, as we have the best loan offers for you. Here are a few reasons for you to choose Finnable’s instant personal loan for salaried:

  • Easy Application and Minimum Documentation

Our application process is very simple and hassle-free and involves minimal paperwork. The documents required for applying for an instant salaried personal loan are fewer. We need documents such as identity proof, address proof, income proof, and passport-size photographs. You can get instant approvals and loan sanctions.

  • Collateral-free Loans

We at Finnable offer unsecured salaried personal loans. So, you don’t have to pledge any collateral security or provider a co-guarantor to avail of the loan. To issue the loan, we take into consideration the borrower’s income and other personal loan eligibility parameters.

  • Optimal Quantum

You can avail of a loan amount ranging from Rs. 50,000 to Rs. 10 Lakhs for a tenure of up to 5 years at an interest rate starting at 16%. So, whatever your financial needs, you can easily avail yourself of an optimal quantum of instant personal loans for salaried employees. 

  • Flexible Repayment

We offer flexible repayment tenures on all kinds of personal loans for salaried. The repayment tenure is up to 5 years. You can choose a suitable term to repay the loan as per your convenience and ensure you never exceed your budget while repaying the loan. 

  • Affordable Interest Rates

We understand how important interest rates are. Therefore, we offer instant personal loans for salaried employees at affordable interest rates without any hidden charges. Our interest rate ranges from 16% to 28%. The applicable personal loan interest rate differs from customer to customer, depending on their profile. A few factors we take into consideration to determine the interest rates are the borrower’s age, income, credit score, and repayment history. We make sure our borrowers have the most pocket-friendly borrowing experience. 

  • Speedy Approval and Fast Disbursal

At Finnable, our loan representatives make sure that your instant personal loan application is processed in the lowest turnaround time and are committed to the fastest disbursal of funds for your needs. You can get instant approvals on your personal loan applications if you meet the eligibility criteria. You just have to enter a few details to check your eligibility. If eligible, we approve your loans instantly and disburse the loan amount within 24 hours.

 

  • No Hidden Charges

We are committed to maintaining transparency throughout the loan procedure and clearly mention all fees and charges, and there are no hidden charges. Our terms and conditions are clearly stated on our website. We advise you to read all terms and conditions in detail before applying for a personal loan for salaried.

Factors That Affect Salaried Personal Loan Eligibility

A diverse range of factors may affect the personal loan eligibility criteria of borrowers. The factors are listed below:

  • Age– A person’s age determines the amount of loan they can avail of. A young applicant has a long working life ahead, and hence it makes them more eligible for a higher personal loan amount. 
  • Type Of Occupation– Salaried employees have a regular source of income. However, the income of self-employed borrowers is dependent on business performance and varies. Hence salaried people make better borrowers. As a result, salaried personnel have easier eligibility criteria than self-employed people and also require fewer documents. 
  • Income– Your income is directly proportional to your eligibility. The higher the income, the higher the personal loan amount and vice versa.
  • Location– It also affects eligibility. People residing in metropolitan cities can avail of a higher loan amount because of their increased expenses. 
  • Existing Debts– If you have existing loans, then the loan amount you can avail of is reduced as your existing loans reduce your repayment capacity. 
  • Employer’s Reputation– A salaried person’s personal loan eligibility is affected by their employer’s reputation. If a borrower is employed with a reputed company, then their job is considered to be stable hence making them eligible for a higher amount of loan.
  • Credit Score– A credit score plays a vital role in deciding a person’s loan eligibility. A credit score reflects your creditworthiness. A higher credit score implies you are eligible to avail of the loan. A person needs a credit score of 700 or above to avail of a personal loan. 
  • Housing Situation– A person living in their own house has a better chance of getting their loan approved because they do not have to pay for house rentals. The rent paid reduces a person’s disposable income and hence lowers their eligibility for a personal loan. 

All the above factors affect your eligibility for personal loans for the salaried class. However, if you minimise your credit utilisation, pay your EMIs and credit card dues on time and in full, reduce your existing debt, etc. You can increase your creditworthiness and be eligible for personal loans for salaried.

Documents Required For Salaried Personal Loan 

You need the following documents to apply for a personal loan for a salaried employee:

  • Identity Proof: You can submit any of the following documents: Voter ID, driving license, PAN card, Aadhar card, passport, etc. 
  • Residence Proof: You can submit any of the following documents as residential proof- utility bills, rental agreement, passport, Voter ID, driving license, Aadhar card, etc
  • Income Proof: Salary Slip of Last Month.
  • Salary Slips: The salary slips for the latest month are needed to make sure you are drawing the minimum salary required to take a personal loan. 
  • Passport-size photograph.

Most banks and lending institutions require these basic documents. However, the documents needed to apply for a personal loan may vary from lender to lender. 

Eligibility

Salaried professionals are not required to meet any extensive conditions to avail of a personal loan. The eligibility criteria differ from lender to lender. However, most lenders follow the eligibility criteria mentioned below to be sure of the borrower’s capabilities to repay the loan amount and to determine the loan amount that can be offered to salaried professionals.

The basic eligibility criteria are as follows:

  • The person should be a residing citizen of India.
  • The person should be anywhere between 21 and 60 years of age.
  • The person must earn a monthly salary of INR 15,000 or more.
  • The person should have a total experience of 12 months or more. 
  • The person should have a minimum credit score of 700.

Features of Personal Loan For Salaried

Finnable team
5163 people have applied for loan in the last 24 hour
5/5
5000 people have rated this loan as the best product
Instant Personal Loan

Get Rewards

Timely EMI payments makes you eligible for a cashback of upto Rs. 200 per month. At Finnable we are the first in the industry to reward you to pay on time and improve your credit score.

Personal Loan Assistant

Get loans quickly

Apply for a personal loan in a few clicks by submitting only a few basic documents and get the loan money transferred in your account as quickly as 2 hours. The entire process is 100% digital.

High Loan Amount

High Loan Amount

Apply for personal loans with minimum documentation and get high loan amounts of upto Rs.10 Lakhs. The loan tenure can be anywhere between 6 and 60 months.

Get rewards

Personal loan Assistant

Please write to your personal loan assistant at makeiteasy@finnable.com for any support. We aim to provide you a seamless and hassle-free experience.

Get rewards

Get Rewards

Timely EMI payments makes you eligible for a cashback of upto Rs. 200 per month. At Finnable we are the first in the industry to reward you to pay on timwe and improve your credit score.

Instant Personal Loan

Get loans quickly

Apply for a personal loan in a few clicks by submitting only a few basic documents and get the loan money transferred in your account as quickly as 2 hours. The entire process is 100% digital.

High Loan Amount

High Loan Amount

Apply for personal loans with minimum documentation and get high loan amounts of up to Rs.10 Lakhs. The loan tenure can be anywhere between 6 and 60 months.

Personal Loan Assistant

Personal loan Assistant

Please write to your personal loan assistant at makeiteasy@finnable.com for any support. We aim to provide you a seamless and hassle-free experience.
Finnable team
5163 people have applied for loan in the last 24 hour
5/5
Over 5000 customers have rated us 5 stars in Play store

Personal loans can be used for multiple purposes- to fulfil your desires or meet urgent financial needs. This is why we bring you a range of products to suit your needs and desires.

Learn with Finnable

Learn with Finnable

Personal Loan For Salaried-FAQs

You can apply for a personal loan on a salary account online either through Finnable’s website or app. 

Finnable provides instant personal loans with minimal documentation. Their process is quick and simple. Apart from that, they disburse personal loans at affordable interest rates with flexible tenure. You can avail a personal loan of up to Rs 10 lakhs from Finnable.

Yes, you can avail flexible repayment options on an advance salary loan.

The maximum loan tenure for a personal loan for salary is for 5 years.

Before applying for an advance salary loan, you should check for the eligibility criteria. At Finnable, the eligibility criteria for an instant loan for salaried employee are that you should be employed at a public or private organization, and need to have a salary of Rs 25,000 per month. You can also choose your loan tenure for flexible repayment options. 

At Finnable, your salary personal loan can be approved within 24 hours.

There is no fixed time, and you can avail of a personal loan at any time as these are multipurpose loans. You can apply for an instant loan for salaried from Finnable for various financial needs such as expanding your business, financing weddings, renovating or building a house, having a medical emergency, travelling, or any other financial needs.

Interest rates range between 16% to 28% for a tenure of up to four years. The applicable personal loan interest rate differs from customer to customer, depending on their profile. A few factors we take into consideration to determine the interest rates are the borrower's age, income, credit score, and repayment history.

Personal loans by Finnable are available for salaried employees from private and public institutions and must have at least 12 months of experience. The basic eligibility criteria include a borrower should be in the age group of 21 years to 60 years. The person must have a minimum monthly income of Rs. 15,000. You must be a residing citizen of India. Finnable also needs a credit score of at least 700.

At Finnable, we provide instant personal loans for salaried of up to 10 lakhs, and that too at attractive interest rates starting from 16% to 28%. You can also enjoy a flexible tenure of up to 5 years, letting you repay the loan comfortably.

At Finnable, we have the fastest approval process. Suppose you meet the eligibility criteria and submit all the required documents. In that case, you can expect a quick and hassle-free approval process, and the loan will be sanctioned within 24 hours.

No, at Finnable, we offer unsecured personal loan for employed. You do not have to provide any security/collateral to apply for a personal loan for salaried. We determine your creditworthiness and then offer a loan.

Finnable's personal loan for salaried employees has a range of benefits. A borrower can use it for funding education, vacation, medical emergency, renovation, or even for debt consolidation. These loans have no spending restrictions and are unsecured and easy to avail. Other benefits that you get include a sizable loan amount, flexible tenure, and repayment options.