Do you want to clear your pending debts, buy your dream vehicle, fund your child’s education, or wedding, or survive a crash crunch? A personal loan is the perfect credit instrument for you. It not only helps you meet your financial requirements but also helps you get the amount at extremely short notice. Personal loans are quick and easy to apply for. Besides, many lenders/financial institutions or banks offer multiple benefits to meet an applicant’s changing needs. Today, with personal loans for salaried employees, you can quickly meet the cost of any financial emergency. Let’s read further to understand personal loans for salaried employees in detail.

Features of a Personal Loan for Salaried Employees

Multi-purpose Loan

Personal loans can be used to meet any financial requirement such as home renovation, medical, debt consolidation, education, marriage, travel, etc.

No Collateral Required

A personal loan for salaried does not require collateral or a co-signer, therefore, minimizing financial stress.

Minimal Documents

Apply for a personal loan with minimal paperwork and a hassle-free and instant loan approval process

Instant Loan Disbursal

It takes a couple of hours to get your personal loan for salaried approved by our bank, and the process is instant if you are a pre-approved customer

Flexible Tenure

You can choose a loan tenure while applying for a loan, which offers you the flexibility to repay the loan amount in easy monthly instalments (EMIs) across a pre-decided period.

High Amount Available

You can apply for a personal loan for salaried for up to INR 50 lakhs. However, please note that your credit history will determine the amount you can borrow.

Eligibility Criteria to Avail a Personal Loan for Salaried Employees

Below are the eligibility criteria that you must check before applying for a personal loan for salaried employees:

  • 1.
    Nationality: You, as an applicant must be of Indian nationality.
  • 2.
    Age: You must be between 21 and 60 years of age.
  • 3.
    Profession: You must be a salary-drawing person in either the public or private sector.
  • 4.
    Minimum Monthly Income: You must have a minimum monthly income of INR 25,000.
  • 5.
    Work Experience: To apply for a personal loan for salaried employees, you need a minimum work experience of one year.

Documents are Required to Avail of a Personal Loan for Salaried Employees

A hassle-free and simple process is what we believe in, and therefore, the documents required for a personal loan are minimal. If you are looking at applying for a personal loan for salaried employees, keep these documents handy for quick approval.

Application Form:

The loan application form must be filled and signed.


A passport sized photograph which is not older than 6 months.

Proof of Identity:

Aadhaar Card, Voter’s ID, PAN Card, Passport, etc.

Proof of Residence:

Aadhaar Card, Voter’s ID, Passport, Bank Passbook or Bank Statement, Rent Agreement, Utility Bill, etc.

Salary Slips:

Salary slips for the last three months, Form 16, Income Tax Returns (ITR) for the last two years.

Bank Statements:

Bank statements for the last six months.

Frequently asked questions

What is a personal loan for salaried?
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How is a personal loan eligibility calculated?
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How to apply for a personal loan for salaried employees?
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Who Can Apply for A Personal Loan from Piramal Finance?
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Am I eligible for a Personal Loan for salaried employees?
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