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Personal Loan for Salaried Employees

4.5/5

15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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Wide Choice

Curated offers from 30+ lenders

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Quick Disbursal

Money in your account instantly

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SmartMatch

Offers ranked according to eligibility

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Digital Process

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Why Choose Paisabazaar?

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Features of Personal Loans Offered to Salaried Employees

  • Salaried individuals are offered instant personal loans at 9.98% onwards.
  • The maximum loan amount is Rs 40 lakh.
  • The loan tenure is generally up to 5 years. Some lenders might offer loans for up to 7 years also.
  • There is no end usage restriction on personal loans for salaried, except for speculation.
  • The processing fee is usually up to 4%. Some banks/NBFCs also offer processing fee waivers during special festive offers.
  • Many lenders also offer pre-approved instant personal loans to select customers based on their monthly income, age, banking history and other aspects of their credit profile.

Eligibility Criteria for Salaried Employees Availing Personal Loan

  • Age: 21 years (at the time of loan application) and 60 years or retirement age (at the time of loan maturity)
  • Nationality: Indian resident
  • Profession: Employees working in private limited company or public sector undertakings with an experience of at least 1 year
  • Minimum Monthly Income: At least Rs 15,000
  • Credit Score: 700 and above can increase the possibility of availing personal loan for salaried and at lower interest rates

Personal Loan Documentation for Salaried Applicants

  • ID proof
  • PAN card
  • Signature proof
  • Address proof
  • Employee ID card
  • Last 3 months’ salary slips
  • Bank statements for past 6 months
  • Latest ITR/Form 16

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FAQs

At what interest rates are personal loans offered to salaried individuals?

Most private sector lenders offer personal loans to salaried individuals starting from 9.98% p.a. However, some public sector banks may offer lower interest rates on their personal loan schemes to salaried applicants.

How can salaried individuals apply for a personal loan?

Salaried individuals can apply for personal loans either by visiting their bank/NBFC branch(es) or by using their net banking or mobile banking platforms. However, making direct loan applications with multiple lenders significantly reduces their credit scores and thereby, their chances of availing the loan. To avoid this, it’s advisable to use online financial marketplaces like Paisabazaar, which allows users to compare personal loan offers from multiple partner lenders without adversely affecting their credit scores.

Do salaried individuals get lower interest rates on personal loans?

Personal loan interest rates for salaried individuals are usually lower than those offered to self-employed individuals as the higher income certainty of the former reduces the credit risk for the lenders, which then allows them to offer lower interest rates. However, the final interest rates offered to salaried applicants vis-à-vis self-employed individuals will depend on their credit profile and credit risk policies of the lender.

How long does it take for a salaried applicant to get a personal loan?

Salaried individuals applying for pre-approved personal loans can get the loan disbursed within minutes of making the loan application. Those applying for regular personal loan schemes may take a bit longer, with a turnaround time of 2-7 days for disbursement.

What is the maximum loan amount a salaried employee can avail of?

Salaried individuals can avail personal loans of up to Rs 40 lakh or even more in select cases, depending on their repayment capacity and the lender’s discretion. When determining personal loan amounts for salaried applicants, lenders use either the Multiplier Method, wherein the loan amount can go up to 10-24 times of the applicant’s monthly income, or the EMI/NMI Ratio, in which total EMIs of the applicant, including that of the proposed loan, cannot exceed the 50-55% mark of their monthly income. Some lenders may even use the combination of both to determine the eligible loan amount.

What is the processing fee charged on personal loans offered to salaried individuals?

The personal loan processing fee can be up to 4% of the loan amount. Some lenders waive off this fee during festive offers/promotional periods, in case of loan applications made by existing customers and/or applicants meeting pre-determined cut-offs in terms of their credit score, income, etc.

What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

Anuradha GuptaJan 21, 2026
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Anubhuti Agrawal profile
Written By
Anubhuti Agrawal
Shamik Ghosh profile
Reviewed By
Shamik Ghosh

Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.

The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.

The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.

Address: Paisabazaar Marketing & Consulting Pvt. Ltd. 135 P, Sector 44, Gurugram (HR) 122001

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