A Personal loan for salaried employees opens a gateway to financial flexibility and opportunities. It helps working people with various concerns like education, weddings, emergencies, or vacations. Piramal Finance provides funds to people earning Rs.25,000 or above, with an interest rate starting at {plintrestrate}*. You can get it within 24 hours to fulfill urgent financial requirements at extremely short notice. The loan application process is 100% digital, simple, and hassle-free.

Features of a Personal Loan for Salaried Employees

An instant personal loan online for salaried individuals comes with various features and benefits. These benefits ensure that all the professionals have access to the quick funds whenever required.

Loan Amount and Tenure

Piramal Finance offers personal loan amounts of up to Rs 5 lakh with repayment terms up to 60 months. This allows couples to choose the best option for them based on their individual needs and financial situation.

No Security Required

In Piramal Finance, personal loans don’t require collateral. This eliminates the need to provide personal property or assets as security. Instead, we determine loan eligibility and loan amounts based on a borrower's credit score and overall financial situation.

Attractive Interest Rates and Easy Repayment

Piramal finance interest rates begin at 12.99*%pa. Furthermore, its personal loans for working professionals include flexible repayment options such as EMI-based repayment schedules that divide the loan amount into equal parts so that borrowers can easily repay the loan without overburdening their finances.

Quick, Hassle-Free Disbursal

Piramal Finance instant loans are known for their quick and hassle-free disbursal processes. Most personal loan applications get approved within a few hours of applying. Once approved, funds can be disbursed to borrowers’ accounts within 1 day.

Fees & Charges

Our interest rate starts at {plintrestrate}* p.a., and there are no hidden costs. What you see is what you pay. Know more about all the fees and charges provided by Piramal Finance.

  • Row1

    • Features & Fees
    • Details
  • Row2

    • Personal Loan Interest Rates
    • {plintrestrate}* p.a. onwards.
  • Row3

    • Processing Fees
    • Up to 5% plus applicable taxes.
  • Row4

    • Loan Tenure
    • 3 - 60 months tenure
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    • Prepayment Charges
    • ₹ 0
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    • Foreclosure Charges
    • ₹ 0
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    • Stamp Duty
    • At actuals (as per state)
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    • Cheque Bounce Charges
    • ₹ 500 plus applicable taxes
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    • EMI Bounce Charges
    • ₹ 500 plus applicable taxes
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    • EMI Pickup/Collection Charges
    • ₹ 250 per visit plus applicable taxes
  • Row11

    • Cash Collection Charges
    • 1% of collection amount of Rs. 50000 and above in cash + taxes
  • Row12

    • Change of Loan Repayment Mode
    • ₹ 500 plus applicable taxes

Fees & Charges

Our interest rate starts at 12.99*% p.a., and there are no hidden costs. What you see is what you pay. Know more about all the fees and charges provided by Piramal Finance.

Features & Fees Details Personal Loan Interest Rates 12.99%* p.a. onwards. Loan Amount ₹ 25,000 to ₹ 5,00,000. Processing Fees Up to 5% plus applicable taxes. Loan Tenure 3 - 60 months tenure Prepayment Charges ₹ 0 Foreclosure Charges ₹ 0 Stamp Duty At actuals (as per state) Cheque Bounce Charges ₹ 500 plus applicable taxes EMI Bounce Charges ₹ 500 plus applicable taxes EMI Pickup/Collection Charges ₹ 250 per visit plus applicable taxes Cash Collection Charges 1% of collection amount of Rs. 50000 and above in cash + taxes Change of Loan Repayment Mode ₹ 500 plus applicable taxes

Documents Required for Personal Loan for Salaried Employees

A hassle-free and simple process is what we believe in, and therefore, the documents required for a personal loan are minimal.

  • Row1

    • Document Type
    • Documents for Salaried Individuals
  • Row2

    • Income Proof
    • Last 3 months' bank account statements / salary slips
  • Row3

    • Identity Proof
    • Aadhar Card, PAN Card, Voter's Id / Driving License
  • Row4

    • Address Proof / Proof of Residence
    • Aadhar Card / Driving License / Passbook / Utility Bills / Property Documents
  • Row5

    • Proof of Employment
    • Appointment Letter / Company Contract, Company or HR's Email ID, Official Identity Card
  • Row6

    • Investment Proof (If Any)
    • Copy of Receipts of Mutual Funds/ Fixed Deposits/ Recurring Deposits
  • Row7

    • Photograph
    • Latest Coloured Passport-Size Photograph

Documents Required for Personal Loan for Salaried Employees

A hassle-free and simple process is what we believe in, and therefore, the documents required for a personal loan are minimal.

Document Type Documents for Salaried Individuals Income Proof Last 3 months' bank account statements / salary slips Identity Proof Aadhar Card, PAN Card, Voter's Id / Driving License Address Proof / Proof of Residence Aadhar Card / Driving License / Passbook / Utility Bills / Property Documents Proof of Employment Appointment Letter / Company Contract, Company or HR's Email ID, Official Identity Card Investment Proof (If Any) Copy of Receipts of Mutual Funds/ Fixed Deposits/ Recurring Deposits Photograph Latest Coloured Passport-Size Photograph

How to Get Personal Loan for Salaried on the Same Day?

Step 1: Click on Apply Now and start your digital Personal loan application.

Step 2: Enter your mobile number linked to your bank account.

Step 3: Enter the OTP received on your mobile number.

Step 4: Enter the required document and verify the same.

Step 5: Bank account verification.

Step 6: Income Verification.

Step 7: Check the Loan Final Offer, Accept, and continue the final process.

After completing the final process your application for a loan is now done and within 24 hours, it will get credited to your verified bank account.

Eligibility Criteria

Below are the eligibility criteria that you must check before applying for a loan:

Different Types of Personal Loans

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Home Improvement Loan

You can use the funds from a personal loan to complete renovations in your home. Moreover, you can also use the funds to expand your home.

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Wedding Loan

Indian weddings can be expensive, but the funds from a personal loan will help you deal with the expenses

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Car Loan

You can buy your dream car with a flexible car loan, offering freedom of choice and fixed monthly payments.

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Emergency Loan

Health insurance may not cover family medical emergencies. Emergency personal loans can help with medical crises.

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Festival Loan

The festive season often comes with various expenses, which online insta loans can help cover.

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Loan for Women

Empower yourself with a specially designed quick personal loan for women. It provides financial support for various needs with competitive interest rates and flexible repayment options.

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Education Loan

You can borrow finance online to pay for housing and food while studying at a university in another city or country.

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Personal Loan for Bike

Don't wait any longer to own your dream bike. Apply for a personal loan for a two-wheeler and get instant approval.

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/personal-loan/bike-loan

Frequently asked questions

What is a personal loan for salaried individuals?
A salaried personal loan is a customized instant personal loan that can be availed by salaried customers. To be eligible for this type of loan you must be an employee in the public or private sector and have a minimum salary of INR 15,000.
Who is eligible for a Personal Loan for salaried employees?
The personal loan eligibility is often calculated to understand whether you will be able to repay the EMIs. For this, your monthly income is considered, along with your existing monthly expenses credit score and other financial obligations. Any employee of a private or public sector, who’s salary is ₹ 15,000 or above is eligible for Piramal Finance personal loan for salaried individuals. You can also utilize our PL Eligibility Calculator.
Who Can Apply for A Personal Loan from Piramal Finance?

Salaried workers having the following jobs can apply for a personal loan from Piramal Finance:

  • MNCs and Other Companies like them
  • Partnership businesses
  • Institutions run by the government, private or public sector
How much loan can I take as a salaried person?
You can get a digital loan of anywhere between Rs 50,000 to Rs 5 lakh from Piramal Finance Website or App.
If you opt to go to Piramal Finance's nearby branch, you can get a loan amount of Rs ₹ 25,000 to ₹ 5,00,000.
How to calculate Loan EMI?
The calculation of marriage personal loan EMI is done using the following formula:

EMI Amount = [P x R x (1+R)^N]/[(1+R)^N-1]
Here,
P = Principal amount
R = Rate of Interest
N = Number of years for repayment (this is calculated in months). You can also avail our EMI Calculator.
Is it possible to foreclose or prepay loan for employees?
Yes, you can foreclose or prepay the loan anytime during the tenure. There are Zero foreclosure or prepayment charges at Piramal Finance

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