The world is filled with uncertainties, and therefore, a need for cash could be required by a person in the future. Personal loans are the best option to finance you can take advantage of currently as the process of applying is quick, and the process of disbursing funds is rapid. The early salary Personal credit depends on your earnings, as the name implies, and is available to people by their needs and repayment capabilities.
The individual loan can be utilized for various purposes, including shopping, weddings, vacations, medical emergencies, and home renovations. It is an excellent option for renovations and medical emergencies. Early Salary loan does not require lengthy procedures to be approved and then disburse the loan. The paperwork required is minimal, so obtaining the loan early in salary is simple. Personal loans are beneficial when the requirement is urgent, and the need for funds is urgently needed.
Features of Easy Salary Personal Loans:
The main characteristics of personal loans with a high-interest rate are as the following:
- The loans start at an amount as low as Rs. 50k, and the maximum amount that can be accessed is the amount of Rs. 5,00,000.
- The paperwork is simple, and the application process is entirely digital. This allows the borrower to access the loan more quickly.
- The term of the loan is flexible and ranges up to 60 months.
- In the case of An Early Salary, the loan interest is due only during the time the client used the loan.
- There aren’t any prepayment fees that apply to the Early Salary loan.
- The processing cost for personal loans typically is at 2%.
Application Process for Earlysalary Instant Personal Loan:
The process of applying for a salary loan that is early is entirely online. The documents must not be sent to any authorities.
The process of application is as it is:
- The applicant can download the salary app for early hire on their smartphones or tablets.
- After downloading the app, the user must complete basic information such as proof of address and income proof. The PAN Card number.
- The instant approval to move forward is given after the report is submitted by the person applying.
- KYC documents must be uploaded following the initial step of support granted by entering general details.
- Once the KYC documents have been uploaded, the client can choose the loan amount required and continue with the application process.
The eligibility criteria for an early Salary Loan for personal use
- The applicant must reside in India
- The minimum and maximum ages for applying include 21 years old and 45 years old.
- The applicant must be a salaried person
- The minimum salary for a salaried person in a metropolis is at least Rs. 30 000, while the minimum for a city that is not a metropolis, the minimum income is at. 25,000
Types of personal loans for an early salary
Shopping loan
If you want to purchase an expensive dress, device, or the latest phones or gadgets available, you can take advantage of the loan based on your salary on Amazon and Flipkart and receive up to 100% of your income. The repayment is made in a timeframe of 3 to six months. The maximum amount of 5 shopping loans is available at any period
Travel Loan:
If you’re planning to go to a specific location and are looking forward to a particular time of year, MakeMyTrip has terrific offers that allow you to avail of the loan for a low or no-cost EMI. The maximum number of travel loans you can help with is five. The loan is available at a maximum of 100% of your earnings.
Skill Upgrade Loan:
The Early Salary Loans have a program called Fees that aid in children’s education by offering loans anytime and at any institution. The loan can be used for the higher education of children. Early Salary deposits the amount directly into the institutions. The loan is repayable within 3 to six months. Two loans for education can be taken at the same time to finance the educational needs of children. The minimum wage for metropolitan cities is 30,000 monthly, and for non-metro towns, it is 255,000 monthly.
Customer Care of Early Salary Instant Personal Loan:
All grievances will be dealt with by Early Salary
On 020-67936767
Or care@earlysalary.com
Charges associated with early Salary Loans:
The various costs associated with personal loans for early salary are as below:
- The processing fee for a personal loan for early salary is 2.2% of the loan amount, plus an additional GST is added to the loan amount.
- The late payment penalties are as high as 3 percent of the amount due each month.
- If the instrument for repayment is rejected for any reason, the fees are 250 rupees per rejection. 250 for each denial.
- If the tool bounces and the charge is 500 rupees per rejection. 500 for each rejection.
- The prepayment fees for these loans are zero.
- The stamp duty must be paid 0.1 percent of the loan amount or Rs. One hundred or less, whichever is the lower.
While this might appeal to interested people, the cost associated with it needs to be considered, and the person should organize their financial plan in line with their budget. The prices of borrowing aren’t significant. However, the repayment terms must be considered carefully before taking advantage of the loans.
