Get Instant Loan for Advance Salary Loan

Get a Loan before you receive your salary. Advance Salary Loan to meet immediate needs starts at 10.25%.

Unlock Best Advance Salary Loan Offers From My Mudra

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Features & Benefits of Advance Salary Loan

Attractive Interest Rates The interest rates are nominal to avoid repayment burden.

Minimal Documentation Only PAN, Aadhar, and Bank Statements are required for approval.

Quick Disbursal The loan is disbursed into the bank account within 24 hours of approval.

No Collateral No need to pledge any asset as collateral to avail Advance Salary Loan.

How Advance Salary Loan Works?

Advance Salary Loan is a smart and progressive step if you have upcoming unannounced expenses. Instead of being broke, opt for the personal loan for salaried employees at just 10.25% p.a. from My Mudra today. Make money a step that can lead you towards a progressive life rather than making it a hurdle.

Eligibility Criteria for Advance Salary Loan

Eligibility Criteria for Advance Salary Loan are mentioned below:

Age: The age of the applicant should be between 23 years-65 years.

Employment: The applicant should be a salaried employee or a self-employed individual.

CIBIL Score: The applicant should have a CIBIL or credit score of 750 or higher.

Monthly Salary: The monthly salary of the applicant must start from Rs 22,000, depending on the city of residence.

Documents required for a Advance Salary Loan

Lenders require the following documents from their Advance Salary Loan applicants as a proof to establish their identity, place of residence, income and repayment capacity.

ID Proof (Aadhar card/PAN card/Passport/Voter ID)
Address Proof (Electricity bill/Telephone bill/Gas bill/Aadhar card/PAN card/Passport/Voter ID)
Bank account statement for last 3 months
Latest salary slips
Employment proofs
Latest ITR or Form 16

How To Apply For A Advance Salary Loan

My Mudra has designed a quick and hassle-free Advance Salary Loan application process. You can follow the below-listed steps to apply for a Advance Salary Loan in India with My Mudra:

Apply for the Advance Salary Loan online on the My Mudra portal.

Our executive shall call you for the documentation and shall guide you through the process of the loan.

Get the documentation done online and track the status of your loan on the My Mudra portal.

The approval and disbursement status of your loan can be checked online.

Enjoy quick disbursal of the loan from My Mudra.

Which banks to prefer for this loan

Bank	Rate Of Interest
	10.65%
	10.49%
	10.95%
	10.75%
	10.75%

Advance Salary Loan EMI Calculator

An Equated Monthly Instalment (EMI) calculator is a digital metre which shows the calculation of your monthly EMIs, a simple online tool that makes EMI calculation very easy and fast.

To get the results from the Advance Salary Loan EMI calculator, you just have to provide three basic information related to the loan that has to be availed: loan amount, repayment tenure (in years), and rate of interest. After providing the details press Enter button and you will know your EMI calculation instantly.

This EMI calculation process will help you plan your budget so that before the due date you can pay your EMIs on time.

Break up of total payment

Loan Amount

Rate of Interest

Tenure (In Months)

Total Payable Amount:

Monthly EMI:

Frequently Asked Questions on Advance Salary Loan

What is a loan on advance salary?

The loan is offered on the upcoming month's salary, based on the financial details, personal documents, and CIBIL score.

What is the interest rate for a salary loan?

The interest rate for the salary loan starts from 10.25% p.a. and can extend up to 16.00% p.a.

Can I take a salary loan?

A person having a salary of more than 20,000, a salary slip, bank statement, and personal verification documents can apply for the salary loan.

What is the minimum period to get the disbursal of the salary loan?

A salary loan will be disbursed within a day from My Mudra.

Do I need collateral for a salary loan?

A salary loan is an unsecured personal loan, therefore, it does not require any collateral from the borrower.

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