Personal loans for salaried employees are a great way to meet your various financial needs. These include funding a vacation, managing medical expenses, and consolidating debt. You can easily access tailored loan solutions for salaried individuals on Bajaj Markets.

Personal loans for salaried employees usually come with low interest rates and flexible repayment terms. Furthermore, you can choose from offers provided by over 20 leading banks and NBFCs.

Personal Loan Lenders Available on Bajaj Markets

Lender

Starting Interest Rate

Processing Fee

Loan Amount

Tenure

Bajaj Finance

10.00% p.a.

Up to 3.93% of the loan amount (Inclusive of applicable taxes)

₹50,000 to ₹35 Lakhs

12 months to 96 months

CASHe

34.00% p.a.

Up to 5.5% of the loan amount + GST 

₹50,000 to ₹3 Lakhs

9 months to 18 months

Federal Bank

11.00% p.a.

0.70% to 2.80% of the loan amount + 18% GST

₹50,000 to ₹5 Lakhs

Up to 12 months

Fibe

14.00% p.a.

Up to 2% of the loan amount

₹50,000 to ₹5 Lakhs

Up to 36 months

Finnable

15.95% p.a.

Up to 3% of the loan amount

₹20,000 to ₹10 Lakhs

Up to 60 months

IIFL Finance

16.50% p.a.

2% to 6% of the loan amount + GST

₹70,000 to ₹5 Lakhs

Up to 24 months

InCred

16.00% p.a.

2% to 5% of the sanctioned amount

₹10,000 to ₹10 Lakhs

Up to 72 months

Kissht

14.00% p.a.

3% to 5% of the loan amount

₹5,000 to  ₹4 Lakhs

6 months to 24 months

Kotak Mahindra Bank

10.99% p.a.

Up to 1.50% of the loan amount + GST

₹50,000 to ₹40 Lakhs

24 months to 72 months

KreditBee

15.00% p.a.

Up to 3% of the loan amount

₹1,200 to ₹5 Lakhs

Up to 24 months

L&T Finance

12.00% p.a.

Up to 2% of the loan amount + GST

₹50,000 to 7 Lakhs

Up to 48 months

MoneyTap

18.00% p.a.

5% to 10% of the loan amount

₹5,000 to ₹5 Lakhs

3 months to 36 months

moneyview

16.00% p.a.

Starts from 2% of the approved loan amount

₹30,000 to ₹10 Lakhs 

Up to 60 months

mPokket

24.00% p.a.

₹50 to ₹200 + 18% GST (maximum APR of 48%)

₹500 to ₹45,000

Up to 90 days

Muthoot Finance

14.50% p.a.

2% to 4% of the loan amount

₹50,000 to ₹10 Lakhs

Up to 60 months

Olyv

18.00% p.a.

2% to 12% of the loan amount

₹1,000 to ₹1 Lakh

2 months to 12 months

PaySense

14.00% p.a.

2% to 2.5% of the loan amount + GST or ₹500 + GST (whichever is higher)

₹5,000 to ₹5 Lakhs

Up to 60 months

Privo 

9.99% p.a.

1% to 3% of the loan amount + GST

₹2 Lakhs to ₹5 Lakhs

6 months to 60 months

SMFG India Credit

12.00% p.a.

0% to 6% of the loan amount

₹50,000 to ₹25 Lakhs

Up to 60 months

Upwards

18.00% p.a.

Up to 4% of the loan amount

₹25,000 to ₹5 Lakhs

Up to 36 months

YES BANK

12.50% p.a.

1.15% to 2.75% of the loan amount

₹1 Lakh to ₹50 Lakhs

12 months to 72 months

Zype

18.00% p.a.

2% to 6% of the loan amount

₹3,000 to ₹5 Lakhs

6 months to 12 months

*Disclaimer: The mentioned details are subject to change at the lender’s discretion.

Features and Benefits of Personal Loan for Salaried Employees

Some advantages of getting a personal loan for salaried employees on Bajaj Markets are as follows:

High Loan Amount

Easily access funds of up to ₹50 Lakhs for your financial needs.

Competitive Interest Rates

Enjoy personal loan interest rates starting as low as 9.99% p.a. on Bajaj Markets.

Versatile Usage

Use the loan amount for various purposes, such as medical emergencies, travel, weddings, education, or consolidating debt.

No Collateral Required

Secure the loan without needing to pledge any assets as collateral.

Flexible Loan Options

Choose between a term loan or flexible loan variant to suit your requirements.

Fast Application Process

The seamless online application ensures your loan is reviewed and verified within minutes.

Hassle-Free Documentation

The online process reduces paperwork, making it simple and convenient to apply for a loan on Bajaj Markets.

Swift Disbursal

Upon approval, the loan amount is disbursed directly to your bank account in no time.

Transparent Charges

Benefit from complete transparency with no hidden fees or undisclosed charges.

Eligibility Criteria for Personal Loan for Salaried Employees

To qualify for a personal loan as a salaried employee, there are some common requirements you may have to fulfil. These are as follows:

  • Age: 18 years and above

  • Employment Type: Full-time salaried position with a stable income

  • Minimum Salary: ₹10,000 per month (varies by lender)

  • Work Experience: At least 12 months with the current employer

  • Credit Score: Preferably 600 or above

Do note that the eligibility requirements may differ from one lender to another. Thus, ensure to get a complete list of the criteria set by your loan provider prior to applying for the loan.

Documents Required for Personal Loans for Salaried Employees

Here are the essential documents required for salaried employees to apply for a personal loan:

  • Identity Proof: Aadhaar card, PAN card, or Passport.

  • Address Proof: Utility bills, rent agreement, or Aadhaar card

  • Income Proof: Latest salary slips (2-3 months) and bank statements (last 6 months)

  • Employment Proof: Offer letter or employee ID

  • Photographs: Recent passport-sized photographs

Other Documents: Loan application form and a copy of your credit score report (if applicable)

How to Apply for Instant Personal Loan for Salaried Person

Follow these steps to apply for a personal loan:

  • Select the ‘Check Eligibility’ option on this page 

  • Enter your personal and income-related information

  • Provide your preferred tenure and the required loan amount

  • Check the details provided and submit the online application form

Following this, your application will be verified by the lenders, who will reach out to you for further proceedings.

Frequently Asked Questions

How much personal loan can I get on my salary?

The loan amount depends on your income, credit score, and lender-specific policies. Typically, salaried employees can get loans up to ₹50 Lakhs on Bajaj Markets.

How is my personal loan eligibility calculated on the basis of my salary?

Eligibility is calculated based on factors like monthly income, existing liabilities, credit score, and repayment capacity.

How can I use the personal loan for a salaried applicant?

You can use a personal loan for various purposes such as medical emergencies, travel, home renovation, or debt consolidation.

Can I foreclose or part-prepay the personal loan?

Yes, many lenders allow foreclosure or part-prepayment, often with nominal charges. Check the terms with your lender.

How long does the personal loan application process take for salaried employees?

The application process is quick and may take 24-72 hours, depending on the lender.

How soon can I get a personal loan for a salaried employee?

Post-approval, the loan amount is usually credited to your account within 24-48 hours.

Can a salaried employee get a personal loan without any credit history?

Yes, some lenders offer loans to individuals with no credit history, though the terms may vary.

How many salary slips do you need to get a personal loan?

Typically, lenders require recent salary slips (last 2-3 months) as proof of income.

Avail Instant Personal Loans ✓ Loan up to 50 Lakhs ✓ Quick Disbursal ✓ Minimum Documentation! Apply Now
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