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 108 months. 
 

Eligibility requirements:

• Indian nationality
• A minimum CIBIL score of 650
• Employment with a public, private, or MNC company. 

• 21 years to 80 years (Higher age limit at the time of loan maturity)

  
  

Applicants can complete the online application process and receive funds within 24 hours* of approval. This page covers eligibility criteria, interest rates, fees, Flexi Loan variants, and the step-by-step application process for salaried employees.

*Terms and conditions apply

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 debts. 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*.

• High loan amounts: Manage both small and large expenses with quick personal loans ranging from Rs. 40,000 to Rs. 55 lakh.—perfect for home renovation, wedding, higher education, or medical emergencies.
• Flexi loans: Make multiple withdrawals from a dropline limit and pay interest only on the withdrawn funds, with our Flexi loans.
• Pre-approved offers: You can check if you have a pre-approved offer for a personal loan with just your phone number and OTP – no need to visit the branch.
• Convenient repayment tenures: Manage your loan easily with flexible repayment tenures ranging from 12 months to 108 months, allowing you to choose EMIs that fit your income cycle and budget.
• Quick approval: Complete your entire personal loan application online from the comfort of your home or office and get an instant personal loan with quick approval.
• Money in account within 24 hours*: Your bank account will be credited with your loan amount within 24 hours* of approval—ideal for urgent business or personal needs.
• Complete transparency: Our fees and charges are mentioned clearly on this page and in all loan documents. We maintain complete transparency, allowing you to make informed financial decisions.
• No guarantor or collateral needed: You don't need to provide any collateral such as gold ornaments, property papers, or have someone stand as a guarantor.

*Terms and conditions apply.
 

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

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 Finserv, you can get an instant personal loan for salaried employees through a seamless digital process that requires minimal effort. Here’s how you can apply:
 

1. Click on ‘Check Eligibility’
2. Enter your 10-digit mobile number → Verify with OTP.
3. Fill in basic details: full name, PAN, date of birth, employment type, etc.
4. Some existing customers will see their pre-approved offer. If not, select your loan amount (Rs. 40,000 - Rs. 55 lakh) and repayment tenure (12 months to 108 months).

5. Upload required documents: Eg. KYC proof (Aadhaar/PAN), salary slips for the last 3 months, 3-month bank statements etc. and submit. 

   
   

Our representative may contact you for next steps. 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 a cost-efficient option. 

• With a Flexi Term Loan, you withdraw 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.

For example: Let us assume that 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 the eligibility criteria and qualifies for a personal loan of up to Rs. 10 lakh.

• If she borrows Rs. 5 lakh at 13% p.a. for 36 months, her EMI would be approximately Rs. 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.

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.