Personal Loan For Salaried Employees

ABCL, A Pillar of the Global Aditya Birla Group

66,500 EMPLOYEES

1,759 BRANCHES

₹ 7.53 Lakh Cr ASSETS UNDER MANAGEMENT

₹ 2.19 Lakh Cr CONSOLIDATED LENDING BOOK

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, Aditya Birla Capital offers Personal Loans at competitive interest rates starting from 10.99% p.a., with flexible repayment options that help salaried individuals manage their EMIs conveniently

Salaried individuals often require financial assistance to manage unforeseen expenses or achieve personal goals, and loan for salaried person provides them with the necessary financial support without the need for collateral. With a 100% digital application process and minimal documentation, salaried employees can conveniently apply for the funds they need from Aditya Birla Capital

Personal Loan EMI Calculator

Wondering how to calculate your personal loan emi premium? We have a handy tool for it.

What is a Personal Loan EMI Calculator?

It is a tool to help you estimate your life insurance premium and make it easier to explore and compare policy options.

How does the calculator work?

The Life Insurance Premium Calculator uses your age, health, coverage details, and other factors to estimate your policy cost. It provides a ballpark figure that can help you decide which plan is best for you. Remember that the final premium may vary after a detailed underwriting process.

Calculate EMI
Calculate Your Loan Amount

PERSONAL LOAN AMOUNT

Tenure (1 to 7 Years)

Rate of Interest (9 to 13%)

I CAN PAY EMI OF

Tenure (1 to 7 Years)

Rate of Interest (9 to 13%)

Your EMI

₹ 10,624

Total Interest

₹ 1,37,440

Total Payout

₹ 6,37,440

APPLY NOW

Your Loan Amount

₹ 7,05,981

Total Interest

₹ 1,94,019

Total Payout

₹ 9,00,000

APPLY NOW

Our Personal Finance Products

Find a wide range of solutions for all your financing needs.

Debt Consolidation Loan

Get all your EMI payments under one roof at an affordable monthly payment system.

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Flexi Loan

Get an instant line of credit with Aditya Birla Capital Flexi Loan and pay interest only on the amount borrowed.

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Instant Personal Loan

Get quick personal loans for any emergency. Enjoy a digital application and sanctioning process that delivers funds within minutes.

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Long Term Personal Loan

Enjoy affordable repayments and a flexible tenure with Aditya Birla Capital

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Short Term Personal Loan

Get quick access to funds to meet your urgent needs

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Features and Benefits of Personal Loan for Salaried Employees

Flexible Repayment Tenure

Choose a repayment tenure that aligns with your monthly income and financial commitments. A flexible tenure allows you to plan your repayments conveniently and manage your EMIs without putting unnecessary pressure on your budget.

Instant Loan Disbursal

Get quick access to funds after your Personal Loan application is approved. The loan amount is disbursed directly to your bank account, helping you address urgent or planned financial requirements without unnecessary delays.

Minimal Documentation

Apply for a Personal Loan with a simple documentation process. Salaried employees can complete the application with basic identity, address, employment, and income-related documents, making the borrowing process convenient.

No Collateral Required

A Personal Loan is an unsecured loan, which means you do not need to pledge any asset or collateral to borrow funds. Eligibility is generally assessed based on factors such as income, employment stability, credit profile, and repayment capacity.

Competitive Interest Rates

Aditya Birla Capital offers Personal Loans at competitive interest rates starting from 10.99% p.a. The applicable interest rate depends on factors such as your eligibility, income, credit profile, and other lending criteria.

Higher Loan Amount

Eligible salaried employees can avail of a Personal Loan of up to ₹65 lakhs to meet various financial requirements. The approved loan amount is subject to the applicant's income, creditworthiness, repayment capacity, and eligibility criteria.

Prepayment and Foreclosure Options

Borrowers can choose to prepay a portion of their outstanding loan or foreclose the loan before the end of the repayment tenure. This can help reduce the overall interest outgo, subject to applicable terms and charges.

Online Application Process

Apply for a Personal Loan through a 100% digital application process from the convenience of your home. The streamlined process and minimal documentation make it easier for salaried employees to access the financial support they need.

Customisable EMI Options

Choose an EMI and repayment plan that suits your income and monthly budget. Flexible repayment options allow you to manage your loan repayments conveniently while balancing your other financial obligations.

Eligibility and Documents 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 for Salaried Employees

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: The minimum age limit is 21 or 23 years depending on the loan type. The maximum age limit is 60 years which can be extended to 62 years under specific cases.
Employment Type: Salaried.
Recent passport-size photographs.
Credit Score: Preferably 700 and above for faster approval and better interest rates.
Work Experience: Six months in the current employment.

Types of Personal Loans in India

Personal Loan For Medical Emergency

Get Personal Loans for Medical Emergency and manage your urgent medical bills. Get quick approvals and faster loan sanctions.

Personal Loan for Marriage

A Personal Loan for Marriage can help you fund the various costs associated with a wedding so that you can celebrate without financial worries.

Personal Loan for Teachers

Tailored especially for teachers, the Personal Loan for Teachers can be used to fund multiple financial needs with quick approvals.

Personal Loan for Emergency

Get a Personal Loan for Emergency and get quick funds for meeting unforeseen situations. Get the loan without collateral and at attractive interest rates.

Personal Loan for Home Renovation

Transform your house into your dream home with a Personal Loan for Home Renovation. Enjoy a digital onboarding journey with attractive interest rates.

Personal Loan for Students

The Personal Loan for Students offers collateral-free funding to meet education costs, living expenses or any other financial needs that students might have.

Personal Loan for Women

Personal Loans for Women are designed for females looking for collateral-free funding solutions for personal or business-related needs.

Personal Loan for Salaried Individuals

Salaried individuals can get a Personal Loan and meet any financial need at attractive interest rates, no collateral, and flexible repayment options.

Personal Loan for Government Employees

Personal Loans for Government Employees give collateral-free loans at attractive interest rates and quick sanctions for every financial need.

How to Apply for Personal Loan for Salaried Employees

1step

Check Your Eligibility

To apply for a personal loan for salaried, visit the Aditya Birla Capital website or use the Aditya Birla Capital App to check your eligibility for a personal loan. Use the personal loan eligibility calculator to review the loan amount you may qualify for based on your income and repayment capacity.

2step

Complete the Online Application

Fill out the Personal Loan for Salaried Employee application form by providing accurate personal, employment, and financial details on the Aditya Birla Capital website or app.

3step

Upload the Required Documents

Submit the necessary personal loan documents, including identity proof, address proof, income proof, bank statements, etc., for verification.

4step

Verification and Loan Approval

The Aditya Birla Capital team verifies your application details and supporting documents. Once the verification process is complete and you meet the eligibility criteria, your loan application is approved.

5step

Receive Instant Loan Disbursal

After approval, the personal loan for a salaried employee is disbursed directly to your registered bank account, helping you meet your financial needs.

Revision of Reference Rates for determining Interest Rates on loans given

A high credit score signals reliability to lenders and can help you get lower personal loan interest rates.

High existing debt can lead to higher interest, as lenders see more risk in lending to heavily indebted borrowers.

Stable income and employment history make you eligible for personal loans with low interest rates, as lenders perceive lower risk.

Different banks and NBFCs have varying interest rate structures, so comparing offers helps identify the personal loan minimum interest rate available to you.

Larger loans or longer repayment tenures may attract slightly higher personal loan rates due to increased risk.

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.

Tools

Financial Reports

ABC of Calculator

Customer Satisfaction Stories

Mr. Hiralkumar Ashokbhai Patel

Aditya Birla Finance Customer

Mr. Pramod Kumar Saini

Aditya Birla Finance Customer

Ashesh Shah

Aditya Birla Capital Limited

Mr. Baijnath Choudhary

Aditya Birla Capital

Mrs. Snehal Rajpure

Aditya Birla Finance Customer

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.

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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.