Loan for Salaried

Waiting for your salary to be credited to meet your financial needs? With Aditya Birla Capital’s Loan for Salaried, you don’t have to. Get quick funds without collateral and a flexible repayment tenure.

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Finish

165+

YEARS OF EXCELLENCE

3.8+ Cr.

ACTIVE CUSTOMER BASE

1300+

BRANCHES ACROSS INDIA

₹3.9 Lakh Cr.

AUM AS OF JUNE, 2023

What is a Personal Loan for Salaried Employees?

A Personal Loan for Salaried Employees is a tailored financial solution designed to meet the immediate monetary needs of working professionals. Whether it’s for medical emergencies, home renovations, wedding expenses, or travel, this loan offers quick and hassle-free access to funds.

Salaried individuals often require financial assistance to manage unforeseen expenses or achieve personal goals, and this loan provides them with the necessary financial support without the need for collateral. With flexible repayment options and competitive interest rates, this personal loan ensures salaried employees can meet their financial obligations conveniently. It also comes with a simplified application process, minimal documentation, and instant approval, making it a preferred choice among working professionals.

Features of Personal Loan for Salaried Employees

Flexible Repayment Tenure

Choose a loan tenure that suits your financial planning.

Instant Loan Disbursal

Get funds credited to your account within 24-48 hours of approval.

Minimal Documentation

Submit only essential documents for quick processing.

No Collateral Required

Enjoy an unsecured loan without pledging any assets.

Competitive Interest Rates

Avail loans at attractive interest rates to reduce your financial burden.

Higher Loan Amount

Borrow up to ₹25 lakh based on your income and creditworthiness.

Prepayment and Foreclosure Options

Repay your loan before tenure completion with minimal charges.

Online Application Process

Apply seamlessly through a digital platform without visiting a branch.

Customisable EMI Options

Plan your EMIs as per your financial comfort.

Eligibility Criteria for Personal Loan for Salaried Employees

Before opting for a Personal Loan, ensure you qualify by checking your eligibility here.

Documents Required for Personal Loan

Identity Proof: Aadhaar Card, PAN Card, Passport, Voter ID.
Address Proof: Utility bills, Aadhaar card, passport, or rental agreement.
Income Proof: The latest 3 months' salary slips.
Employment Proof: Offer letter or employee ID card
Bank Statements: Last six months’ bank statements reflecting salary credits.
Photographs: Recent passport-size photographs.

Eligibility Criteria for Salaried Employees

Age : You should be between 21 and 60 years old.
Employment Type: Recent passport-size photographs.
Work Experience: Minimum 1 year of total employment, with at least 6 months in the current organisation.
Credit Score: Preferably 700 and above for faster approval and better interest rates.
Work Experience: At least 1 year of work experience, with 6 months at your current job.

Types of Personal Loan in India

Medical Emergency

Personal Loan for Marriage

Personal Loan for Teachers

Personal Loan for Emergency

Personal Loan for Home Renovation

Personal Loan for Students

Personal Loan for Women

Personal Loan for Salaried Individuals

Personal Loan for Government Employees

How to Apply for Personal Loan for Salaried Employees

1step

Check Your Eligibility

Use the online eligibility calculator to check if you qualify for the loan.

2step

Fill Out the Application Form

Complete the online form with your personal and employment details.

3step

Loan Processing & Verification

The lender will verify your documents and process your application.

4step

Approval & Disbursal

Once approved, the loan amount will be credited to your bank account within 24–48 hours.

Revision of Reference Rates for determining Interest Rates on loans given

Long Term Reference Rate

ABCL has increased its Long-Term Reference Rate (LTRR) by 20 bps to 20.45% p.a. with effect from March 1, 2024. The interest rate on the floating rate loans of tenor greater than 12 months that are linked to the LTRR will be revised upwards by 20 bps. The spread / margin on the said loans will remain unchanged.

Short Term Reference Rate

ABCL has increased its Short-Term Reference Rate (STRR) by 20 bps to 19.45% p.a. with effect from March 1, 2024. The interest rate on the floating rate loans of tenor up to 12 months that are linked to the STRR will be revised upwards by 20 bps. The spread / margin on the said loans will remain unchanged.

Fees and Charges for Personal Loans for Salaried

Charge Type	Amount
Cheque Return charges	₹500 + GST per instance
Default Penal charges	3% of the pending amount per month
Charges for cancellation of Loan	4% of loan amount disbursed + applicable taxes
CIBIL report retrieval fees	₹100 + GST per instance
Charge for Exchanging PDCs / ECS	₹750 + GST per instance
Loan reschedule charges	₹5000 + GST per instance
Stamp Duty	As per Actual if applicable
Insurance Premium	As per Actual, if applicable
Pre-closure Quote	₹1000 + GST per instance
Any other charges	As per Actual, if applicable
Part - Pre-Payment Charges	Charges: A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure.
Foreclosure Charges	4% of the Principal outstanding amount + GST Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal.

Customer Satisfaction Stories

Hear from our happy customers what they have to say about their experience with us.

Mr. Hiralkumar Ashokbhai Patel

Aditya Birla Finance Customer

Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.

Mr. B. Narsimulu

Aditya Birla Housing Finance Customer

Hyderabad, India

Mr. Pramod Kumar Saini

Aditya Birla Finance Customer

I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.

Mr. Vikram Balu Gavali

Aditya Birla Housing Finance Customer

Belapur, India

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FAQs on Personal Loan for Salaried

Yes, women can avail of the Loan for Salaried provided they fulfil all the eligibility parameters specified for the loan.

No, there are no specific companies whose employees can get the Loan for Salaried. You can get a loan if you are employed in any company.

NRIs are not allowed to get a personal loan for salaried employees. The loan is available only for resident individuals.

The income proof establishes your repayment capacity and proves that you have a steady source of income. As such, it is mandatory for the Loan for Salaried.

Part prepayment means paying off a part of the outstanding loan amount in a lump sum over and above the EMI. This helps reduce the due amount and brings down the interest expense. With Aditya Birla Capital Loan for Salaried, you can make a part prepayment after 6 months.

Our Offerings

Different individuals have different needs. That’s why we offer different types of personal loans for salaried individuals. Here’s what you can get -

Personal Loan

Get a collateral-free loan for every type of financial need that you have. Enjoy a flexible repayment tenure to get affordable EMIs.

View Plan Apply Now

Flexi Loan

Get a flexible repayment solution with interest payable only on the amount that you utilise. Save on the interest outgo and get quick funds.

View Plan Apply Now

Interest Rates Available for
Loans for Salaried

Find out the interest payable on the Loan for Salaried to plan your repayments effectively.

Loans up to 12 months

Loan Type	Interest
The Short Term Reference Rate (STRR)	19.45% p.a. w.e.f.from March 1, 2024

Rates are indicative and depend on credit score, income, and profile. The best debt consolidation loan often starts lower for strong profiles (750+ CIBIL).

Loans more than 12 months

Loan Type	Interest
The Long Term Reference Rate (LTRR)	20.45% p.a. w.e.f. from March 1, 2024

Get A Loan for Salaried In 5 Easy Steps

STEP

Determine your financial needs

STEP

Check loan eligibility

STEP

Calculate monthly installment

STEP

Submit the relevant documents

STEP

Apply for a loan

STEP

Submit the relevant documents

STEP

Apply for a loan

Who Can Apply For a Loan for Salaried?

Find out if you are eligible to apply for a Loan for Salaried

Salaried

Self-employed Professional

Self-employed Non - Professional

Eligibility Criteria for Loans for Salaried

Are you eligible for a Personal Loan for Salaried? Check whether you meet the criteria.

Documents Needed

Proof of identity and address Passport / Aadhaar Card/ Voter's ID / Driving License/ Job Card issued by NREGA / Registration certificate / PAN card (PAN Card only as identity proof)
Proof of incomeSalary slip for the last 3 months showing all deductions and Form 16
Bank statement where income is credited Last 6 months
Proof of other income Last 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16

Disclaimer - All loans will be at the sole discretion of ABFL.

Eligibility criteria

Nationality

Minimum age

Maximum age

Credit Score

Employment

Indian citizen

21 years

60 years*

750+

Salaried

* A higher age limit is applicable at the time of loan maturity.

Note - This is an indicative list that may change based on your actual loan application.

ABC Of Calculators

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EMICalculator

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EligibilityCalculator

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PMAYCalculator

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MONTH OF DISBURSEMENT

EXISTING SANCTION AMOUNT

REMAINING TENURE (MONTHS)

EXISTING INTEREST RATE

ABFL INTEREST RATE (%)

New Eligible Loan Amount

₹ 0

Total Interest

₹ 0

Total Payable Amout

₹ 0

Monthly SIP Amount

₹ 0

Top Up Amount Eligible

₹ 0

Different financial needs, different loans,
one app - ABCD

For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.

Range of loan options for different needs
Range of loan options for different needs
Quick sanctions and disbursals

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ABC Of Personal Loans

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Disclaimer

*The interest rate constitute the rack rate for all customers. Actual interest rate for any customer and will be as communicated at the time of loan sanction and disbursal. It will be subject to changes from time to time and is at sole discretion of ABHFL.

**ABHFL reserves the rights to call upon additional documents at its discretion. The documents will be collected by ABHFL.