Instant Approval, Low Interest & Complete 2025 Guide
Before applying, check your options via these trusted apps:
Personal loans are unsecured loans provided to salaried employees for emergencies, travel, medical expenses, debt consolidation, or lifestyle needs. They offer quick approval and disbursal, usually within 24–72 hours. This guide covers eligibility, documents, application steps, EMI calculation, interest rates, tips for instant approval, top apps, and FAQs for a smooth loan experience.
| Bank/App | Interest Rate (% p.a.) | Processing Fee |
|---|---|---|
| HDFC Bank | 10.5–19.5% | 1–2% |
| ICICI Bank | 11–20% | 1–2% |
| Axis Bank | 10.75–19% | 1–2% |
| MoneyTap | 13–24% | 1–2% |
| EarlySalary | 12–28% | 1–3% |
Use this formula: EMI = [P × R × (1+R)^N] / [(1+R)^N – 1], where P = loan amount, R = monthly interest rate, N = tenure in months.
| Loan Amount | Tenure | Interest Rate | EMI |
|---|---|---|---|
| ₹2,00,000 | 24 months | 12% | ₹9,400 |
| ₹5,00,000 | 36 months | 14% | ₹17,100 |
| ₹7,50,000 | 48 months | 13% | ₹20,200 |
Yes, personal loans for salaried employees are typically unsecured, meaning no collateral is required. Approval depends on your salary, CIBIL score, and employment stability.
Most top apps and banks can approve loans within 24–48 hours. Some fintech apps offer approval in minutes if you meet eligibility and submit correct documents.
Technically yes, but it is not recommended. Multiple loan applications in a short span may negatively impact your CIBIL score and reduce approval chances.
Depends on your monthly income, existing EMIs, and lender policy. Generally, banks offer 10–20 times your monthly salary as a personal loan.
Yes, prepayment is allowed in most banks and apps. Some lenders may charge a nominal prepayment penalty; check terms before applying.
Mr. Sharma, a salaried professional earning ₹45,000/month, needed ₹3,00,000 for home renovation. Using the MoneyTap app:
This demonstrates how top apps simplify loan approval and disbursal.
This page provides general information on personal loans for salaried employees in India for educational purposes only. It is not financial or investment advice. For personalized advice, consult a certified financial advisor or bank representative. All Finance Store is not responsible for any loss or financial decisions made based on this content.