EarlySalary Personal loan, how to apply, EarlySalary Loan interest rate, fee & charges, documents required, eligibility criteria
There are various loan applications in the market, that provide you loans as per your requirement. EarlySalary is one of them. As the name suggests “EarlySalary” means you are getting your salary before the date.
EarlySalary is an online lending platform that offers loans and various types of financial products for salaried professionals. you can use personal loans for medical emergencies and expenses, pay off bills, vacation, renovate your home, and a lot more.
| Loan App Name | EarlySalary |
| Loan Amount | Rs. 8000 to Rs. 500000 |
| Loan Tenure | 90 days to 24 months |
| Interest Rate | 1.5% to 2.5% per month or starting from 18% p.a. |
| Processing Fee | 2% of the loan amount |
EarlySalary Products
Short Term and Long Term Personal Loan: Get salary up to Rs. 5 lakh, Choose your amount, tenure ranging from 3 months to 24 months, and get the cash in your bank.
No Cost Shopping Loan: EarlySalary helps to upgrade the customers’ lifestyle with Zero Cost. you can choose Amazon, Flipkart, and Makemytrip vouchers from the app and get a loan at Zero Cost EMI.
Free Education Loan: you can learn new skills without any cost. At EarlySalary you can now avail EarlySalary education loan assistance for free.
SalaryCard: A digital card that enables customers to choose EMI tenure. additionally, it comes with super exciting Rupay offers.
EarlySalary Personal Loan Features & Benefits
- It offers loan amount from Rs. 8000 to Rs. 500000.
- Flexible repayment tenure from 90 days to 24 months.
- No prepayment charges. just pay according to the number of days you use the cash.
- The personal loan application process is online and can be completed within minutes.
- Loan disbursal is very quick. you can get the loan amount within 10 mins to your bank account if your documents are all correct.
- EarlySalary group owns “EarlySalary Services Private Limited an NBFC duly registered with Reserve Bank of India.
EarlySalary Personal Loan Eligibility Criteria
- Applicant must be an Indian Citizen.
- You must be over 21 years or above.
- You must be salaried employee.
- Applicants must have a minimum salary of Rs. 15000 to Rs. 18000 depend on your current location.
- Your Bank customer ID/CRN Number/CIF Number is required.
- Net Banking is required.
Documents Required For EarlySalary Personal Loan
- Selfie as a proof of your photograph.
- PAN Card
- Address proof (Passport/Driving License/Voter’s Identity Card or Utility Bills i.e. Electric/landline phone bill/ Gas Bill (not more than 2 months old).
- Aadhaar Card
- Last 3 months salary bank statement.
How to Apply For EarlySalary Personal Loan?
- Download and install Personal Loan & Salary Advance App – EarlySalary on your phone.
- Register and log in to the app.
- Enter your personal details, professional details, current residential address and click on the Proceed button.
- On the next screen click on the Continue button. you can choose your bank from the drop-down. click on Confirm Salary Bank Details.
- Now, verify the banking details using your bank customer ID/CIF/CRN and net banking Password. click on the Next button.
- Next, upload 3 months bank statement and proceed.
- Now you need to complete KYC by uploading the documents image like PAN card, Aadhaar card.
- Now specify your personal loan details such as amount, tenure etc.
- After uploading all these details your loan application will be verified.
- If all the documents are correct and you meet all the eligibility criteria ,your loan application will be approved and loan amount will be credited to your bank account within 10 mins.
EarlySalary Loan Repayment
It loan EMI will be auto-debited from your bank account. EarlySalary provides various methods to repay your loan like Debit cards, Net Banking, UPI, Mobile Wallets.
EarlySalary Interest Rate, Fees & Charges
| Fee & Charges | Amount Chargeable |
|---|---|
| Interest rate | Starting from 18% |
| Processing fee | 2% of the loan amount + GST |
| Stamp Duty | It is a government tax. the amount charged is 0.1% of the loan or Rs. 100 whichever is higher. |
| Prepayment/foreclosure charges | NIL |
| Late repayment charges | Up to 3% per month on the amount due |
EarlySalary Personal Loan Pros & Cons
| Pros | Cons |
|---|---|
| Online application process | The minimum income threshold should match |
| The amount is credited within 10 mins | Provides personal loans to salaried professionals |
| Various methods of loan repayment | Social media account must be available |
| In partnership with the RBI registered NBFC | Credit score must be good |
| No foreclosure charges | |
| No collateral required |
Is EarlySalary App Safe and Legit?
Yes, It is completely safe and secure. EarlySalary group owns “EarlySalary Services Private Limited formerly known as Ashish Securities Pvt. Ltd.”, an NBFC duly registered with Reserve Bank of India. It gives a sense of trust.
All the transactions are secured via 128-bit SSL encryption. Data is transferred over secured connections with the consent of borrowers.
EarlySalary Customer Care Details
| Contact Types | Email/Phone/Address |
|---|---|
| EarlySalary customer care number | 020-67639797 |
| EarlySalary email ID | care@earlysalary.com |
| EarlySalary official address | EarlySalary Office no. 404, The Chambers, (Samrat Chowk) Clover Park, Near Ganpati Chowk, Viman Nagar, Pune, Maharashtra 411014 |
| Working hours | Monday to Friday (9 am – 7 pm) Saturday (10am – 2pm) |
Conclusion
EarlySalary is a genuine loan app provider. you can use this app to get an instant loan. moreover, it is in partnership with an NBFC registered with the Reserve Bank of India (RBI).
Besides the interest charges, there are other charges involved like, processing fees, late payment fees, etc. Make sure you read the necessary terms and conditions of the contract of information available on the lender’s website before you apply for a loan.
Read Also
- FlexSalary Personal Loan Review | Get Instant Personal Loan Up to Rs. 2 Lakh
- Fundstiger Business Loan | How to Apply a Business Loan With Fundstiger?
FAQs
The interest rate will start from 18% p.a, depending on your loan tenure and credit score.
Unfortunately, you can not change the tenure after taking a loan.
It will take around 8 minutes to complete the loan application process.
EarlySalary will send you an email and SMS to keep you notified. you can also check the status by logging into the app or website.
No, If you do, you will not be able to apply for a loan.
If your loan application is rejected, you can re-apply after 90 days.
If your all documents are proper and you meet EarlySalary eligibility criteria, after approval, the loan amount will be transferred within 10 minutes.
