Advance Salary is a short-term loan against your salary, provided to meet some urgent personal needs. The loan amount can be as high as 2.5 times of your Net Salary. An advance salary loan can be availed at any time in the month and paid back as instalments after actual pay from the company is credited, over a set period of time. These loans are given over a defined tenure and for amounts between Rs 5,000 to Rs 1 lakh. The approvals are quick and almost entirely online with the source of funds being a peer to peer lending model. These short term loans are also known in some parts as salary advance loans or as an early salary.
- Pan Card Number
- Passport Photo
- Address Proof
(Valid Driving License / Valid Passport / Aadhar Card)
- ID Proof
(Valid Driving License / Valid Passport / Voter’s ID / Aadhar Card / Pan Card)
Benefits of Advance Salary Loans
1. Quick Approvals
Borrow any amount ranging from ₹5000 to ₹1, 00,000 which will be approved instantly.
2. Transparent Processes
No hidden fees, origination fees, closing fees or prepayment fees involved. Know ahead of time what your costs are.
3. Minimum Documentation
Minimum uploads on our quick online form & doorstep document pickup at your choice of place & time.
4. Flexible Payment Terms
Repay your loan with convenient EMIs. Pick a tenure that works for you ranging from 3 months to 36 months.
5. Instant disbursal
It takes as less as 24 hours from the time of application till you start using your funds.
Eligibility for availing Advance Salary Loans
- The borrower must be an Indian citizen and Resident of India
- Should be above 20 years of age and capable of entering into a legal contract as per the Indian Contract Act.
- Should have a valid Bank Account, Aadhaar Card and a valid PAN number.
- Must draw a net monthly salary.
What would be the duration of loan?
Advance Salary Loans are available for tenure of 3 months up to 12 months. Tenure depends on your choice and loan eligibility.