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Features & Benefits of Advance Salary Loan Online
How Advance Salary Loan Works in India?
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 Online
Documents required for a Advance Salary Loan Online
Lenders require the following documents from their Advance Salary Loan Online 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 Online
Which Banks to Prefer for Advance Salary Loan Online
| Bank | Rate Of Interest |
|---|---|
|
10.65% |
|
10.49% |
|
10.95% |
|
10.75% |
Advance Salary Loan Online 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 Online 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.
Frequently Asked Questions on Advance Salary Loan Online
The loan is offered on the upcoming month's salary, based on the financial details, personal documents, and CIBIL score.
The interest rate for the salary loan starts from 10.25% p.a. and can extend up to 16.00% p.a.
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.
A salary loan will be disbursed within a day from My Mudra.
A salary loan is an unsecured personal loan, therefore, it does not require any collateral from the borrower.
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