Features and benefits of instant personal loan for low salary
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Obtain the funds you need without pledging any security.
Collateral-free finance
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Get instant approval on your personal loan application by meeting our simple criteria.
Approval in 5 minutes
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Disbursal in 24 hours
Obtain the funds within a day after loan approval and document verification.
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Up to 96 months for repayment
Space out repayment over a period of up to 8 years, as per your capacity.
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Be assured of 100% transparency in loan dealings. You can read the terms and conditions for all the charges due on your loan.
Zero hidden charges
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Minimal documentation
You can show that you meet the eligibility parameters by submitting only your basic documents. No lengthy paperwork is necessary.
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Digital loan account
Pay EMIs, part pre-pay your loan, download your loan statements, and more with our customer portal, My Account.
Bajaj Finserv offers tailored personal loans of up to Rs. 10 lakh for low-income individuals. Our eligibility criteria are simple, so much so that you can apply for a loan and get instant approval within 5 minutes*. Our documentation requirement is minimal, and post-approval and verification of your loan application, the funds are disbursed to your bank account in 24 hours*.
We offer competitive interest rates per your financial profile, and you can pick from a flexible repayment term of up to 96 months to make your EMIs budget-friendly. To plan for repayment, use the Personal Loan EMI Calculator. Aim to keep your EMI and other debt obligations at less than 30-40% of your income. If you happen to witness an increase in income, you can always part pre-pay your loan or repay your personal loan in one go by foreclosing it.
Our low-salary personal loans are collateral-free offerings, have zero hidden charges, and bear no spending restrictions. Easily avail of a Bajaj Finserv Personal Loan for your planned and unplanned expenses, be it business expansion, higher education, debt consolidation, or home renovation.
How does an instant loan on salary Work
An instant loan against salary provides quick funds to salaried individuals with minimal documentation.
You typically need to submit your salary slip and basic documents to apply online.
Approval is fast, with money directly credited to your bank account for easy access.
This option suits those seeking a low-income personal loan, offering flexible repayment tenures based on your salary.
Eligibility criteria for instant personal loan for a low salary
The eligibility criteria vary from lender to lender. The eligibility criteria for a Personal Loan are:
- Nationality: Indian
- Age: 21 years to 80 years*.
- Employed with: Public, private, or MNC.
- CIBIL Score: 685 or higher.
- Monthly salary: Starting Rs. 25,001, based on the city you live in.
*Higher age limit is applicable at the time of loan maturity.
Documents required for low-income personal loan
- KYC Documents – Aadhaar, PAN, Voter ID, driving license, passport
- Address proof
- Passport-size photograph
*Conditions apply
How to get an instant personal loan for low salary?
The eligibility criteria differ from lender to lender when it comes to instant personal loan for low salary. Typically, for a Bajaj Finserv Personal Loan, minimum required salary is Rs. 25,001, depending on the city you live in. To see if you have an Insta Personal Loan offers offer, simply enter your mobile number and OTP.
How to apply for instant personal loan for low salary
Getting an Insta Personal Loan from Bajaj Finance is simple. You only need to follow the steps below.
- Go to our Insta Personal Loan page and click on ‘CHECK OFFER’.
- Enter your 10-digit mobile number and OTP.
- Go with the pre-assigned limit or choose a different loan amount.
- Choose a repayment tenure that suits you best.
- Click on ‘PROCEED’ to complete the online process.
The online process may differ depending on whether you are a new customer or have an existing relationship with us.
Frequently asked questions
Low-income individuals seeking personal loans can explore options from NBFCs or online lenders. Improve creditworthiness by paying bills on time and reducing debt. Consider a co-signer or collateral to increase approval chances.
You can easily apply for a personal loan for low salary individuals by submitting your salary slip and basic documents. Choose a suitable loan amount and tenure and get quick approval with minimal paperwork.
Yes, you can get a low-income personal loan even if you get a cash salary loan. Please note that you will need salary slips and a valid bank account, among other requirements, apply for our personal loan.
No, you do not need to provide any security or collateral to apply for a personal loan, even if you are a low salary personal loan individual. The loan is unsecured and based on your eligibility. Be sure to check the required eligibility criteria before applying.
Depending on the lender, there is a minimum CIBIL Score required to get a low salary instant personal loan.
The minimum salary required to get a Bajaj Finance Personal Loan is Rs. 25,001, depending on the city you live in. You can choose to apply with a co-applicant in case you fall short of the eligibility criteria.
To obtain third-party personal loans, research reputable lenders, compare interest rates and terms, check eligibility criteria, and gather necessary documentation. Apply online or in person, providing accurate financial information. Maintain a good credit score, as it impacts loan approval and terms.
