Personal Loan for Salaried Employees
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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.
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- Features & Fees
- Details
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- Personal Loan Interest Rates
- {plintrestrate}* p.a. onwards.
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- Processing Fees
- Up to 5% plus applicable taxes.
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- 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
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- Cash Collection Charges
- 1% of collection amount of Rs. 50000 and above in cash + taxes
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- 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.
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.
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- Documents for Salaried Individuals
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- Income Proof
- Last 3 months' bank account statements / salary slips
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- Identity Proof
- Aadhar Card, PAN Card, Voter's Id / Driving License
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- Address Proof / Proof of Residence
- Aadhar Card / Driving License / Passbook / Utility Bills / Property Documents
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- Proof of Employment
- Appointment Letter / Company Contract, Company or HR's Email ID, Official Identity Card
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- Investment Proof (If Any)
- Copy of Receipts of Mutual Funds/ Fixed Deposits/ Recurring Deposits
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- 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.
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:
- Nationality :
- You, as an applicant must be of Indian nationality.
- Age :
- You must be between 21 and 58 years of age.
- Profession :
- You must be a salary-drawing person in either the public or private sector.
- Minimum Monthly Income :
- You must have a minimum monthly income of INR 15,000.
- Minimum Monthly Income :
- To apply for a personal loan for salaried employees, you need a minimum work experience of one year.
Different Types of Personal Loans
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.
Wedding Loan
Indian weddings can be expensive, but the funds from a personal loan will help you deal with the expenses
Car Loan
You can buy your dream car with a flexible car loan, offering freedom of choice and fixed monthly payments.
Emergency Loan
Health insurance may not cover family medical emergencies. Emergency personal loans can help with medical crises.
Festival Loan
The festive season often comes with various expenses, which online insta loans can help cover.
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.
Education Loan
You can borrow finance online to pay for housing and food while studying at a university in another city or country.
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.
Frequently asked questions
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
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.
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.