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Omozing Personal Loan · For salaried professionals
An unsecured personal loan for salaried people across India, with credit scores from 600. Share two documents, talk to a real credit officer, and see the full cost in your Key Fact Statement before you sign.
Omozing lends to salaried employees whose salary is credited to a bank account every month. We look at the whole picture of your finances, not a single number, but every application has to meet a few basic conditions.
| Requirement | What we need | Why it matters |
|---|---|---|
| Employment | Salaried, with salary paid into a bank account | We assess repayment from your regular salary. Cash salaries can’t be verified, so they aren’t eligible. |
| Take-home salary | ₹40,000 a month or more | Leaves room for an EMI after your existing commitments and living costs. |
| Credit score | From 600 | We read the full credit report, not only the score. See personal loans from a 600 credit score. |
| Location | Anywhere in India | The whole process is digital. |
| Co-applicant | Optional | A spouse, family member or friend can apply with you to strengthen a tight application. |
If your take-home salary is below ₹40,000 or your salary is paid in cash, we will tell you straight after the application form, before you upload any document. We would rather be clear early than waste your time.
Every Omozing loan carries a fixed interest rate, starting from 11% a year, charged on the reducing balance. That means interest is calculated only on the amount you still owe, so the interest part of your EMI falls as the loan is repaid. Your rate depends on your risk profile under our Board-approved Interest Rate Policy: your credit history, income stability, existing obligations, employer and loan tenure.
| Charge | Amount | When it applies |
|---|---|---|
| Interest rate | From 11% a year, fixed, reducing balance | Through the loan, included in your EMI |
| Processing fee | 3% – 7% of the loan + GST | Deducted once, at disbursal |
| Foreclosure charge | 4% – 6% + GST, decided case by case | Only if you close the loan early |
| Late payment and bounce charges | As per the schedule of charges | Only if an EMI is missed or a mandate bounces |
What is APR? The annual percentage rate combines the interest rate with fees such as the processing fee, so it shows the true yearly cost of the loan. RBI rules require us to show the APR in your Key Fact Statement (KFS) before you sign. Always compare lenders by APR, not by the interest rate alone.
A loan of ₹2,00,000 for 12 months at 24% a year has an EMI of about ₹18,912. Total interest is about ₹26,943. With a 5% processing fee (₹10,000 + GST), the money you actually receive is lower than the loan amount, which is why the APR comes out higher than 24%. Your KFS shows the exact figures for your loan.
Illustration only. Your rate and fees are confirmed after a credit review.
Use this calculator to see your monthly EMI and total interest for any amount, rate and tenure. For more options, try the full EMI calculator.
Illustration only, not an offer. Interest on a reducing balance; GST on fees not included. Your rate, fees and APR are in your Key Fact Statement.
Basic details, your employer and city, salary mode and take-home, and consent for a credit check.
Your last 6 months’ salary-account bank statement and your latest salary slip. Identity checks such as PAN and Aadhaar verification run in the background, with your consent.
Our team reads your statement and credit report in detail and may call you to understand your situation. This is how we can lend where an automated score alone might say no.
The KFS lists the loan amount, rate, APR, every fee, the EMI and the full repayment schedule. You sign only when you’re comfortable.
The loan is credited directly to your bank account.
EMIs are collected through an auto-debit mandate on a fixed date each month.
That’s it at the start. In some cases our credit team may ask for one or two more papers, for example a co-applicant’s documents. See the full eligibility and documents guide.
Many lenders reject applications below a fixed score cut-off, often 700 or 750. Omozing considers applications from a score of 600 because a score is a summary, not the full story. A late payment two years ago, a single settled card or a short credit history can pull a score down even when your income is steady and your recent behaviour is good.
Our credit officers look at what the score can’t show: how long you’ve been with your employer, how regular your salary credits are, how much of your income already goes to EMIs, and how you have handled payments in the last 12 months. Read more on how we assess applications from 600 to 749, and on improving your credit score if you want to borrow at a better rate later.
If your existing EMIs take up a large share of your salary, adding a co-applicant can make the difference. Their income is considered together with yours, which lowers the share of combined income going to EMIs. Omozing accepts a wide range of co-applicants: a spouse or fiancé(e), parents, siblings, extended family, and even friends or colleagues. Both applicants share the same documents and the same responsibility for repayment, so choose someone who understands that commitment. Learn more about strengthening your application with a co-applicant.
A personal loan can be used for any legitimate personal need. The most common reasons among our borrowers are:
Replacing several short-term app loans with one EMI through SmartSwitch.
Treatment and hospital bills not fully covered by insurance. See medical loans.
Planned family expenses. See wedding loans.
Repairs and upgrades. See home renovation loans.
Moving for a new job. See rental deposit loans.
Moving expensive revolving card debt to a fixed EMI. See credit card balance transfer.
| Omozing personal loan | Credit card revolving | Instant loan apps | |
|---|---|---|---|
| Typical cost | From 11% a year, reducing balance | Often 36%–45% a year on unpaid dues | Fees plus daily interest, often far higher when rolled over |
| Tenure | 3 to 36 months | No fixed end | 7 to 30 days |
| Repayment | Fixed EMI that closes the loan | Minimum due keeps debt alive | Lump sum, often re-borrowed |
| Cost disclosure | KFS with APR before signing | Monthly statement | Varies by app |
For side-by-side comparisons of many lenders and apps, see the FundsTiger comparison hub (FundsTiger is our sister company).
If a bank has turned you down before, this guide on common reasons for personal loan rejection explains what to fix.
Omozing and Aparampaar Finance never ask for a fee, deposit or OTP before a loan is approved, and never lend through unofficial WhatsApp numbers or unlisted apps. Your loan is disbursed only to your own bank account. If anyone contacts you in our name asking for money, report it on the RBI Sachet portal (sachet.rbi.org.in).
Before you sign any loan, check that the lender is RBI-registered, read the KFS, and make sure the EMI fits comfortably in your monthly budget. A good rule of thumb is to keep all EMIs together well below half of your take-home salary.
A take-home salary of ₹40,000 a month, credited to a bank account. Cash salaries are not eligible.
We consider applications from a credit score of 600. A score is one input; our credit officers review your full credit report, salary history and existing obligations.
Up to ₹25 lakh, depending on your income, existing EMIs and credit profile. Most borrowers take a smaller amount sized to their needs.
Rates start from 11% a year, fixed, on a reducing balance, and are set according to your risk profile. Your exact rate and APR are in your Key Fact Statement before you sign.
No. The processing fee (3%–7% + GST), foreclosure charge (4%–6% + GST, case by case) and any late-payment or bounce charges are listed in our schedule of charges and in your KFS. Nothing outside those is charged.
Yes. You can foreclose the loan; a foreclosure charge of 4%–6% plus GST may apply, decided case by case and stated in your KFS.
No collateral is needed. A co-applicant is optional and can help when your existing obligations are high.
Aparampaar Finance Private Limited, a non-deposit-taking NBFC registered with the Reserve Bank of India. Omozing is its digital lending brand.
Omozing is the digital lending brand of Aparampaar Finance Private Limited, an RBI-registered non-deposit-taking NBFC. Loans are subject to credit assessment. See our regulatory disclosures and grievance redressal process.