Life is full of uncertainties and thus a need for money is something that can be needed by an individual at any point in time. A personal loan is the best financing option one can avail of at this time as the application process is fast and the disbursals are very quick. An Early Salary personal loan is based on your salary as the name suggests and will be offered to individuals as per their needs and the repayment capacities.

A personal loan can be used for various purposes like weddings, vacations, shopping, medical emergencies and renovation of homes. The Early Salary loan does not have a very lengthy process for approval of the loan and disbursal of the same. The documentation required is minimal and hence it is easy to apply for an early salary personal loan. A personal loan can be useful in times when the need is urgent and the requirement of funds is urgently required. 

Features of Easy Salary Personal Loans:

The important features of early salary personal loans are as follows: 

  • The loans are starting from a minimum of Rs. 50,000 and the maximum amount of loan that can be availed is Rs. 5,00,000.
  • The documentation is minimal and the process of application is fully digital. This helps the customer to avail of the loan faster.
  • The tenure of the loan is very flexible and extends from 12 months to 60 months.
  • For an Early Salary, loan interest has to be paid only for the days the amount has been used by the customer.
  • There are no prepayment charges applicable for an Early Salary loan.
  • The processing fee for a personal loan is generally 2%.

Application Process for Earlysalary Instant Personal Loan:

The application process for an early salary loan is completely online. No documents are to be submitted to any authority.

The application process is as follows:

  • The applicant can download the early salary app on their mobile phones or tablets.
  • Once the app is downloaded, the applicant has to fill in basic details like address proof, income proof and PAN card Number.
  • Instant approval to proceed further is given once the information is entered by the applicant.
  • KYC documents need to be uploaded after the first stage of approval is given by entering general information.
  • After the KYC documents are uploaded the customer can select the amount of loan that is needed and go ahead with the process.

Eligibility for an Early Salary Personal loan

  • The applicant should be a resident of India
  • The minimum and maximum ages for application are 21 and 45
  • The applicant should be a salaried individual
  • The minimum income for a salaried individual in a metro city is Rs. 30,000 and in a non-metro city is Rs. 25,000

Types of Early Salary personal Loans

Shopping loan:

If you want to buy a new dress, a gadget or the newest phone or electronics on the market, You can avail of the early salary personal loan at Amazon or Flipkart and get up to 100% loan of your salary. The repayment can be done within a period of 3 to 6 months. Only 5 shopping loans can be availed at a time

Travel Loan:

If you want to travel to a particular destination and enjoy a particular season, MakeMyTrip has amazing offers where you can avail yourself of the loan at a no-cost or low-cost EMI. The maximum travel loans allowed are 5. The loan can be availed up to 100% of your salary.

Skill Upgrade Loan:

The Early Salary Loans have a programme called Fees where they fund the education of children by providing loans whenever required and at any institutes. The loan can be taken for the higher education of children. Early Salary deposits the amount directly to the institutes. The loan can be repaid within a period of 3 to 6 months. Two education loans can be taken at a time for funding the education requirements of children. The minimum salary for metro cities is 30,000 per month and non-metro cities is 25,000 per month.

Customer Care of Early Salary Instant Personal Loan:

Any grievances will be handled by Early Salary

On 020-67936767


Charges Associated with Early Salary Loan:

The various charges associated with an early salary personal loan are as follows:

  • The processing fees of an early salary personal loan is 2% of the loan amount plus the GST is added to that amount.
  • The late payment charges are up to 3% of the amount due per month.
  • If the repayment instrument is rejected due to any reason, the charges are Rs. 250 per rejection.
  • If the repayment instruments bounce, then the charges are Rs. 500 per rejection.
  • The prepayment charges for these loans are nil.
  • The stamp duty to be paid is 0.1% of the loan amount or Rs. 100 whichever is lower.

Early Salary Personal Loans Summary:

Interest Rate

Minimum loan amount

Maximum loan amount

Eligible category

Eligible age

Minimum monthly salary

Processing fee

Types of loan

18% p.a onwards

Rs. 50,000

Rs. 5,00,000

Salaried employees

21 to 45 years

Rs. 25,000


Shopping loan, travel loan, skill upgrade loan

Though this seems to be an attractive option for the individuals, the costs associated with it should also be taken into account and the individual should plan their finances accordingly. The borrowing costs are not much but the repayment terms should be carefully thought about before availing of the loan.

FAQS What Is An Early Salary Personal Loan, And How Do You Avail It?

1:Can an individual re-apply for an early salary loan?

Yes, a person can re-apply for the loan after 90 days.

2:How is the repayment date decided?

The repayment date is decided based on the salary date mentioned in the salary slip and as indicated in the loan application.

3: Is Early Salary Loan available to salaried individuals?

A: Yes, an early salary loan is available to salaried individuals with a salary of a minimum of Rs. 30,000 in metro cities and Rs. 25,000 in non-metro cities.

4:The minimum salary required to avail of an early salary loan is?

The minimum salary required is Rs. 30,000 for metro cities and Rs. 25,000 for non-metro cities.