Salary Loan is a type of personal loan specifically designed for salaried individuals. It's a quick and convenient way to access funds, often used to cover unexpected expenses or to meet specific financial goals.

• Application: You apply for a salary loan with a bank or a non-banking financial company (NBFC).
• Documentation: You'll need to provide basic documents like identity proof, address proof, income proof (salary slips), and bank statements.
• Loan Approval: The lender assesses your creditworthiness and income to determine the loan amount and interest rate. Loan Disbursal: Once approved, the loan amount is disbursed to your bank account.
• Repayment: You repay the loan in fixed monthly installments over a specified tenure.

Key Features of Salary Loans

• Quick Disbursal: Salary loans are often disbursed quickly, sometimes within a few hours.
• Minimal Documentation: The process involves minimal paperwork.
• No Collateral Required: Salary loans are unsecured loans, meaning you don't need to pledge any asset as collateral.
• Flexible Repayment Terms: You can choose a repayment tenure that suits your budget.
• Higher Interest Rates: Compared to other secured loans, salary loans typically have higher interest rates.

* INTEREST RATE *

• Documents Required for Salary Loan  ☞  Click Here