Personal Loan for Salaried Employees

A personal loan for salaried employees from Bajaj Finserv is available from Rs. 40,000 - Rs. 55 lakh, with interest rates ranging from 10% – 30% per annum and repayment tenures of 12 months to 96 months. Eligibility requires a minimum CIBIL score of 650, employment with a public, private, or MNC company. With the Flexi variant of personal loan, salaried borrowers can part-prepay as many times as they want at no extra charge — making it suitable for those who plan to repay early. Processing fee is up to 3.93% of the loan amount (inclusive of applicable taxes).
 

Applicants can complete the full process online in 5 minutes and receive funds within 30 minutes** of approval. This page covers eligibility criteria, interest rates, fees, Flexi Loan variants, and the step-by-step application process for salaried employees.

Managing high-value expenses with a monthly salary can be challenging and might force you to dig into your savings. However, you can avoid such a situation by availing of a personal loan for salaried employees. Bajaj Finserv provides personal loans for salaried employees to help you meet various unplanned or planned expenses like a medical emergency, home renovation, debt consolidation, wedding expenses, and more.
 

✅  Check your pre-approved loan offer with phone number and OTP → Apply online in 5 minutes → Receive funds within a day*.

*Terms and conditions apply.
 

These features make this one of the best personal loans in India.

Example: Riya is a 30-year-old salaried employee in Hyderabad working at a private IT firm, earning Rs. 60,000 per month with a CIBIL score of 740. She meets Bajaj Finance's eligibility criteria and qualifies for a personal loan of up to ₹10 lakh.

If she borrows Rs. 5 lakh at 13% p.a. for 36 months, her EMI would be approximately ₹16,861 per month. Total repayment over 3 years: approximately Rs. 6,07,000. If she receives a mid-year bonus and chooses to part-prepay Rs. 1 lakh after month 12, her remaining principal is reduced and she pays less interest going forward — with no prepayment penalty on a Flexi Term Loan.

You can avail of a best personal loan for a salaried person from Bajaj Finance if you meet the following personal loan eligibility criteria:
 

• Nationality: Indian
• Age: 21 years to 80 years.
• Employed with: Public, private, or MNC.
• CIBIL Score: 650 or higher.
• Customer profile: Self-employed or Salaried

*You should be 80 years or younger, at the end of the loan tenure.

To complete the application process for a loan for salaried employee, you must provide a standard set of personal loan documents. These documents help to assess the financial credibility of salaried individuals, ensuring faster approval and smooth disbursal of funds.
 

• KYC documents: Aadhaar/ passport/ voter’s ID/ driving license/ Letter of National Population Register/ NREGA job card
• PAN card
• Employee ID card
• Salary slips of the last 3 months
• Bank account statements of the previous 3 months
• Piped gas bill
• Pension order
• Letter of Allotment of Accommodation Issued by Employer
• Property / Municipal tax receipt
• Utility bill
• Phone bill
• Real-time image / photograph
   

Check your eligibility for personal loan using just mobile number and OTP – 100% online process. 

Bajaj Finance Limited offers personal loans for salaried employees at reasonable interest rates ranging from 10% to 30% per annum. Read about personal loan interest rates and look at the additional charges before applying to know the total cost of borrowing.

Applying for a salaried loan online is simple and time-efficient. With Bajaj Finance, you can avail an instant personal loan for salaried employees through a seamless digital process that requires minimal effort. Here’s how you can apply:
 

1. Visit bajajfinserv.in or open the Bajaj Finserv app → Navigate to Personal Loans → Click 'Apply'.
2. Enter your 10-digit mobile number → Verify with OTP. Existing customers will see their pre-approved limit instantly.
3. Fill in basic details: full name, PAN, date of birth, employment type, etc.
4. Select your loan amount (Rs. 40,000 - Rs. 55 lakh) and repayment tenure (12 months to 96 months).
5. Upload required documents: Eg. KYC proof (Aadhaar/PAN), salary slips for the last 3 months, 3-month bank statements etc. → Submit. Funds are disbursed within 24 hours* of approval.

*Terms and conditions apply
 

Multi-purpose personal loan:
 

For salaried borrowers who plan to repay early, the Bajaj Finserv Flexi Term Loan is generally the most cost-efficient option. With a Flexi Term Loan, you draw down from a pre-approved limit, pay interest only on the amount withdrawn, and can make part-prepayments any number of times without penalty. With part-prepayments, you can reduce your principal progressively without any additional cost. The best plan for early repayers depends on how predictable your surplus income is: Flexi Term Loan suits variable repayments, while Term Loan suits lump-sum, regular EMIs.

Among personal loans for salaried individuals in India, the Bajaj Finserv Personal Loan stands out for its part-prepayment policy — with its Flexi variants, you can part-pay your outstanding balance as many times as you want at no extra cost. All variants carry a nominal foreclosure charge as disclosed in the loan agreement. You can verify the exact charges applicable to your offer in your loan sanction letter before accepting. As per RBI's Fair Practices Code for lenders, all applicable prepayment charges must be disclosed in writing before loan disbursal.

A personal loan for salaried employees is an unsecured credit facility offered to individuals who earn a regular monthly salary from a public, private, or MNC employer. Because the loan is unsecured, no collateral or asset pledge is required — lenders assess eligibility primarily based on monthly income, credit score (CIBIL), employment stability, and existing debt obligations. Salaried borrowers typically receive faster approvals and lower interest rates than self-employed applicants with equivalent profiles, owing to the predictability of their income. Bajaj Finserv offers salaried employees personal loans from Rs. 40,000 - Rs. 55 lakh, at 10% – 30% per annum., repayable over 12 months to 96 months, with funds disbursed within 24 hours* of approval.

The Bajaj Finserv Flexi Term Loan gives salaried borrowers a pre-approved dropline limit from which they can withdraw funds in multiple tranches. You pay interest only on the amount withdrawn — not on the total sanctioned limit. This structure is designed for borrowers who expect multiple or uneven expenses, since it reduces total interest outgo by allowing partial repayments and re-withdrawals within the limit. Part-prepayment of the loan is allowed with no prepayment charge — making it the preferred variant for salaried employees who anticipate bonus payouts or salary increments and want to part-prepay as and when possible.

As per the Reserve Bank of India's Fair Practices Code, lenders must disclose the annualised rate of interest (APR) to borrowers in writing before loan disbursal — not just the nominal monthly rate. (Source: RBI DNBR.PD.007/03.10.119/2016-17). Bajaj Finance Limited is an RBI-registered NBFC and complies with this requirement. 

Disclaimer: The regulatory guidelines and third-party data cited on this page are sourced from official government and statutory bodies and are accurate as of the date of publication. This information is provided for reference purposes only and is subject to change. Readers are advised to verify all cited guidelines directly with the relevant regulatory authority before making any financial or purchasing decisions. Bajaj Finance Ltd. is not responsible for any updates, amendments, or revisions made by third-party sources after the date of publication.