Quick and Easy Personal Loan for Salaried Employees
Avail Hassle-Free Personal Loan up to Rs.5 Lakhs with Digital Ease!
Fast & Convenient
Flexible Repayment
Lowest Interest Rate
Quick Approval
Apply for Instant Personal Loan Up to Rs.10 Lakh
A dream can take many forms – pursuing higher education, travelling to your dream destination, having a beautiful wedding ceremony, and so on. A personal loan can be a financial friend who helps you in realising these dreams. However, a personal loan is not only for dreams; it can also be used to cover other expenses such as unexpected bills, medical emergencies, and even debt consolidation. Unlike secured loans, which have a predetermined usage of funds, personal loans are versatile and can be used for any purpose.
A personal loan is financial assistance provided by financial institutions based on factors such as your income, age, work experience, ability to repay, credit score, profession, etc. A personal loan is an unsecured loan, which means you do not have to provide any collateral to obtain it, making it a stress-free way to get the financial help you require.
Lowest Interest Rate
Starting from 11% p.a.
Affordable EMI options
As low as Rs.63/day per lakh
Flexible Loan Tenure
Up to 72 Months
Minimum CIBIL Score
No Min. CIBIL score required
Benefits and Features of a Personal Loan
A personal loan is a very versatile form of financial assistance that can be used to cover a wide range of expenses. It can offer several benefits, making it an attractive option for you. Let’s look at some of the advantages:
Easy Application
With the easy online process, applying for a personal loan becomes an easy task, allowing you to eliminate multiple bank visits and monotonous piles of paperwork.
Loan Up to 10 Lakh
You can apply for a personal loan of up to Rs.10 lakh, which could significantly help you achieve your financial goals.
Convenient Repayment Tenure
Choose the loan repayment option that best fits your budget, allowing you to repay your loan without making your pockets heavy.
Flexible End-Use
Personal loans are not required to be used in specific ways, giving you complete freedom to use the funds as you see fit.
No Complex Documentation
Only basic documents like PAN card, Aadhaar card, and Income proof would be sufficient enough to apply for an instant personal loan.
Collateral Free
Personal loans are unsecured types of credit that can be obtained without the need for collateral, allowing you to avail funds without putting your assets at risk.
Documents for Your Instant Personal Loan for Salaried Employees
Applying for a personal loan for salaried employees is now easier than ever. Kreditbazar enables you to complete your loan application with our partnered NBFCs entirely online, with minimal documentation.
Required Documents for Salaried Employees
Proof of Identity
Driver's Licence, PAN Card, Aadhaar Card, Passport
Proof of Income
Bank Statement, Salary Slips, Form 16, Income Tax Returns
Proof Residence
Utility Bills, Rent Agreement, Property Documents
Proof of Business Existence
Lenders may request additional documents based on your profile and their requirements.
Personal Loan Eligibility Criteria for Salaried Employees
Personal loans have eligibility requirements set by lenders. Understanding those criteria before applying for a personal loan will make the process go more smoothly and without delays.
Citizenship
You must be a resident Indian to apply for a personal loan.
Age
The minimum age for applying for a personal loan for salaried employees is 21 years.
Income
The minimum monthly salary required to apply for a personal loan is Rs.15,000/- (must reflect in bank statement).
Job Stability
You must have had at least one year of job stability with your current employer.
Personal Loan Rates & Charges
When it comes to personal loans, interest rates take the spotlight. However, there are numerous additional rates and charges associated with them. It becomes crucial to comprehend these charges in order to make an informed choice.
When you apply for a loan with Kreditbazar, in addition to the super-convenient online process, you can access cost-effective interest loans. Thanks to our partnership with multiple banks and NBFCs, we make it possible for you to avail the competitive interest rate - as low as 11% p.a.- that best suits your profile and wallet, allowing you to save money and enjoy the affordable EMIs without feeling overburdened.
Here are some of the other charges that are associated with the personal loan for salaried employees.
- Processing Fee : Process charges are administrative fees that vary by lender; they typically range from 0 to 3% of the loan amount plus taxes.
- Preclosure Charges : This is entirely dependent on the financial institution that lends you the personal loan.
- Other Charges : Other fees, such as late payment fees and cheque bounce penalties, may be applied to your loan. We recommend that you carefully read the loan agreement to get the full picture.
Tips to keep in mind while applying for a Personal Loan
Getting a personal loan for salaried employees is a simple process. Here are some tips to consider while applying for a loan for a smooth application.
| Build A Good Credit Score | Credit score is an important factor that lenders consider when approving your loan. Having a good credit score can help you negotiate for a lower interest rate and more favourable loan terms. |
| Assess your Needs | Make a list of your needs and requirements, then calculate the exact loan amount you need to borrow. Avoid overborrowing; it may cause you problems in the long run. |
| Evaluate Your Repayment Capacity | Prepare for repayment before borrowing. To avoid future financial strain, take into account other financial commitments when calculating how much EMI you can afford to pay. |
| Select A Suitable Loan Tenure | While a longer loan term may result in lower monthly payments, you will eventually pay more, and vice versa. Thus, choose a loan term that allows you to pay comfortably while not exceeding your budget. |
| Avoid Applying for Multiple Loans Simultaneously | You may want to try your hardest to get a personal loan. However, applying for a personal loan simultaneously can result in hard enquiries, which can harm your CIBIL score. |
Why Choose Kreditbazar for Your Personal Loan for Salaried Employees?
Discover an array of incredible benefits that will bring you closer to your financial goals.
Access to Multiple NBFCs
Gain access to industry-leading NBFCs and apply for a loan with them without negatively impacting your CIBIL score.
100% Online Process
Stop toiling around the town! Apply for a personal loan with our NBFC partners using an easy-to-use online portal without leaving your comfort zone.
Minimal Documentation
The required documents for applying for a personal loan with Kreditbazar are minimal and simple, saving you a lot of time and effort.
Competitive Interest Rate
Take advantage of the competitive interest rate, which is designed to make your loan more affordable and cost-effective in the long run.
Flexible Loan Tenure
You can choose the loan tenure that works best for you so that your repayment is completed smoothly — without feeling financially burdened.
Collateral-Free
A personal loan for the salaried employees can be obtained without pledging any assets as collateral, lowering the risk of losing your assets.
Super-Easy Process
Our streamlined digital portal makes it easy to process your personal loan with our NBFC partners. It only takes a few simple clicks and you can begin immediately.
Purpose & Uses of Personal Loan
Nurture a plethora of your life aspects financially and let your aspirations emerge as a thing of reality!
Our Happy Customer
We Give Many Reasons For Our Customers To Shower Praises On Us!
"I was so surprised with the service quickness! Self apply is really the best feature here"
“Impressed with the loan consultation service! They truly give the best solutions...”
"Just extraordinary…it’s so good to receive the loan applying link within few minutes only"
"Well done Kreditbazar team, your guidance really makes a big difference. Also services are superb"
“Quick. Professional. Humble – that’s how I define this team. Thanks guys, you’re the best”
“It just went beyond my expectations. It’s so easy to get effective loan consultation with Kreditbazar”
FAQs about Personal loan for Salaried Employees
Find answers to common queries about Personal Loan for Salaried Employees, including eligibility, application process, fees, and more.
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How can I apply for a ₹8,00,000 personal loan for salaried employees?
You can apply online by completing the application form on the Kreditbazar website, which will connect you with our NBFC partners and assist you in applying for a personal loan for salaried employees.
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What is the minimum salary required for a personal loan for salaried employees?
The minimum salary required to qualify for a personal loan for salaried employees is ₹15,000 per month
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What is the maximum loan amount I can get as a salaried employee?
The maximum loan amount you can get as a salaried employee depends on your income, credit score, and the policies of the partnered NBFCs or banks.
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What documents are required to apply for a personal loan for salaried employees?
You will need proof of identity (Aadhaar, passport, or driving license), salary slips, bank statements for the last 6 months, and income tax returns or Form 16.
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Can I get a personal loan for salaried employees with a low credit score?
A credit score of 750 or above is typically required for the best loan terms. However, if your credit score is lower, you may still be eligible, but at higher interest rates or with additional requirements.
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Can I get a personal loan for salaried employees without a guarantor?
Yes, personal loans for salaried employees are usually unsecured, meaning you don't need a guarantor or collateral to secure the loan.
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What is the interest rate on personal loans for salaried employees?
The interest rate for personal loans for salaried employees typically starts at 10% to 12% p.a., depending on your credit score, income, and the lender's policies.
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What is the loan tenure for a personal loan for salaried employees?
Loan tenures typically range from 12 months to 72 months (6 years), depending on the loan amount and repayment capacity.
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Can I use a personal loan for salaried employees for any purpose?
Yes, personal loans are typically offered for any personal expenses, such as medical emergencies, travel, home renovation, or debt consolidation.
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What happens if I miss an EMI payment on my personal loan for salaried employees?
If you miss an EMI, you may incur a late payment fee, and your credit score may be negatively affected.
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Are there any processing fees for a personal loan for salaried employees?
Yes, most lenders charge a processing fee, which can range up to 3% of the loan amount, depending on the lender.
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What is the impact of my credit score on my personal loan for salaried employees?
A higher credit score increases your chances of loan approval and may help you get a lower interest rate on your personal loan.
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Can I avail a top-up loan on my existing personal loan for salaried employees?
Yes, many lenders offer top-up loans on existing personal loans for salaried employees, depending on your repayment history and eligibility.
