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Early Salary Instant Short Term Loan

Apply Early Salary Instant Short Term Loan

Processing Fee

299₹

Max Tenure

3 – 12 months

Best Rate

1.5% p.m

View Details

Features

  • Instant approval and same day cash transfer.
  • Zero physical documentation.
  • No foreclosure charges.
  • Ten Minute loan.
  • 3 Month EMI Option – For salaried (Greater than ?/30000- Month)
  • Buy now using Amazon wallet / Future pay and pay later at zero cost EMI

Pricing

  • Interest rate - 1.5% per month
  • Processing fee - Starts @ ₹ 299

Documents Required

  • ID Proof - Pan card
  • Address Proof - Aadhar card
  • Income proof - 3 months bank statement
  • If you receive salary by cheque, salary credited should be shown in your last 3 months pdf bank statement
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EarlySalary Instant Short-Term Loan

EarlySalary is a lending platform that provides loans to individuals in India. They are an innovative new age online brand and they use new credit scoring systems for their customer profiling. They have a mobile first strategy that enables customers to get loans in minutes. They aim to combine traditional credit scoring with new social and online scoring technology-linked risk assessment concepts for their business in order to change the lending market in the country.

What is a short-term loan?

A short-term loan is provided to a customer for a comparatively shorter tenure that usually ranges from one month to a year. These are advantageous for individuals who are unable to get loans for a longer tenure from a bank or a lender. Short-term loans are generally unsecured, meaning that you do not have to provide any money or property as security for the loan amount. Short-term loans are also known as short-term instalments or short-term finance.

An introduction to EarlySalary Instant Short-Term Loan

EarlySalary offers instant short-term loans in order to make their customer’s life easy. They have innovative solutions to prevent their customers from facing a month-end cash crunch. They ensure that their customers have enough money to shop, socialize, travel and pay their bills on time with their instant short-term loans.

Types of EarlySalary Instant Short-Term Loan

1. Salary Advance:

EarlySalary offers a salary advance to their customers of up to Rs.2 lakhs. This can come in handy when one has financial priorities that are scheduled for the month end such as paying the deposit for a new house, an unplanned trip or other emergencies that can occur.

Features

  • Credit limit of up to Rs.2 lakhs is given and can be transferred to the bank account when needed. This is available 24*7.
  • One is only charged interest for the number of days one uses the money.
  • There are no prepayment charges
  • There is flexible usage. One can use it for any emergency or need.
  • Repayment is easy as one can opt for auto debit or prepay using the mobile application.

2. Amazon shopping:

EarlySalary offers credit to their customers to shop on Amazon with zero cost EMIs. This is very convenient when one wants to buy a certain gadget or a piece of furniture at the month end when money is insufficient.

Features

  • The customer can fully or partially transfer their approved credit limit with ease to their Amazon pay on their EarlySalary application.
  • One can shop for their preferred product on Amazon and pay in 3 EMIs at zero extra cost.
  • The customer can also repay in 6 EMIs with a minimal charge of Rs.500.
  • The customer can also benefit from exclusive discounts that are made available to EarlySalary users during the Amazon sale.

3. School fees:

EarlySalary offers a very convenient solution for a child’s educational fees. A customer can now pay his/her child’s school fees in easy EMIs. This is done to help the parent opt for the finest education to pave the way to his/her child’s success.

Features

  • The customer can now transfer his/her credit limit to the school that the child is studying in and pay the fees using the EarlySalary application.
  • There is zero paperwork involved.
  • One can get up to Rs.3 lakhs for school fees based on eligibility.
  • The customer can pick between 3 or 6 EMIs as a repayment option.
  • There is no prepayment charge.

4. Big Bazaar shopping:

EarlySalary offers credit to their customers to shop at Big Bazaar with 3 zero cost EMIs. This is very convenient when one wants to buy products on their shopping list but do not have money at the end of the month.

Features

  • The customer can transfer his/her approved credit limit to Future Pay in the EarlySalary application.
  • One has flexible shopping limits that range from Rs.3,000 to Rs.50,000
  • The customer can repay in 1 or 3 months with zero cost EMIs

Features and benefits of EarlySalary Instant Short-Term Loan

  • Flexible end use
  • EarlySalary instant short-term loans are multi-purpose loans, meaning, they can be utilized for planning a wedding, taking a family trip, upgrading your home, paying for education, buying products such as electronics or furniture, expanding business or paying for a medical emergency.

  • Loan amount
  • EarlySalary offers up to Rs.2 lakh as the credit limit for instant short-term loans. Loans of up to Rs.3 lakhs can be availed for school fees if the customer is eligible for the same.

  • Interest rates
  • EarlySalary offers interest rates that begin at just Rs.9 per day. The customer only needs to pay interest for the number of days he/she has used the money.

  • No collateral needed
  • EarlySalary instant short-term loans are unsecured. This means that you do not need to provide any collateral as security for the loan amount.

  • Mobile application
  • EarlySalary provides an easy process for its customers. One just needs to download the EarlySalary application on their mobiles and get their loans approved.

Eligibility for EarlySalary Instant Short-Term Loan

To apply for an EarlySalary instant short-term loan, there are certain eligibility criteria to meet. They are:

  • Must be a salaried Indian employee
  • Should have a minimum salary of Rs.20,000
  • Should be above the age of 21

Documents needed for EarlySalary Instant Short-Term Loan

There are certain documents that one needs to provide in order to get the loan sanctioned by EarlySalary. These documents are:

  • ID proof
  • PAN Card
  • Proof of residence
  • Latest 3 months bank statement (where salary is credited)
  • Salary slips for last 3 months
  • 1 passport size photograph

Repayment options for EarlySalary Instant Short-Term Loan

You can repay your EarlySalary instant short-term loan’s EMI payments on or before the due date through UPI or Netbanking with NEFT or IMPS using the virtual account that has been specially allocated. Cash and cheque are not accepted currently.

EarlySalary Instant Short-Term Loan – FAQs

1. What is the maximum loan amount that is given by EarlySalary?

EarlySalary offers up to Rs.2 lakhs as the credit limit for instant short-term loans. Loans of up to Rs.3 lakhs can be availed for school fees if the customer is eligible for the same.

2. How do I repay my loan amount with EarlySalary?

You can repay your EarlySalary instant short-term loan’s EMI payments on or before the due date through UPI or Netbanking with NEFT or IMPS using the virtual account that has been specially allocated. Cash and cheque are not accepted currently.

3. Is there any collateral needed for an EarlySalary instant short-term Loan?

No, there is no collateral that needs to be provided as security for the loan amount.

4. What is the eligibility for an EarlySalary instant short-term loan?

The eligibility criteria are that one must be a salaried Indian employee, should have a minimum salary of Rs.20,000 and should be above the age of 21.

5. What are the products offered by EarlySalary?

EarlySalary offers instant salary advance, shopping on Amazon, school fees on EMI and shopping at Big Bazaar.

News

EarlySalary crosses 1 million loan disbursals22 Nov 2019

EarlySalary, an online lending platform, has crossed over 1 million loan disbursals amounting to over Rs. 1850 crores. Most of the borrowers belong to the age group of 26 to 35, seeking credit for the first time. Akshay Mehrotra, the CEO of EarlySala...

Read more

EarlySalary, an online lending platform, has crossed over 1 million loan disbursals amounting to over Rs. 1850 crores. Most of the borrowers belong to the age group of 26 to 35, seeking credit for the first time. Akshay Mehrotra, the CEO of EarlySalary said, “ These customers often experience a month-end cash crunch and due to lack of credit score knowledge, they are unable to borrow money from the traditional credit facilities available. It is this gap that EarlySalary has been able to successfully mitigate for its customers.

Customer Reviews

4 / 5 (3914 Reviews)
1 Mar 2020

Good service

11 Feb 2020

Very Good

7 Jan 2020

Very good

7 Jan 2020

GOOD SERVICE

3 Jan 2020

Very good

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