Quick Guide on Personal Loan for Salaried Employee

Salaried employees struggle the whole month at work to get their salaries at the end of the month. However, it takes only a few days to finish it off. There are fixed expenses, EMI, emergencies, and investments that take up the entire salary. Salaried individuals have a fixed source of income that they use to pay off all their expenses and obligations. However, there can be emergencies or a financial crisis, where you will find a personal loan to be very useful. This is why you will find that the banks see a lot of instant personal loan online applications from salaried employees at the end of the month.

A personal loan is a good option, that is affordable and reliable. You can meet all the instant needs and emergencies with a single Personal loan. It is easily available and you will be able to meet all kinds of necessary needs. If you are in need for the first time, you will enjoy borrowing from Clix Capital. It is a paperless borrowing experience with instant approval. A personal loan should be affordable so that your EMI is low. It will ensure that you cover up all kinds of expenses with the kind of loan you take. All you need is, get accustomed to the steps to apply for a personal loan for salaried, the documentation, and the eligibility criteria of a salaried individual.

Documentation for salaried employees

Identity proof
  • Aadhaar card
  • Pan card
  • Driving Licence
  • Passport
  • Date of birth
  • Voter ID card
Address proof
  • Electricity bills
  • Telephone bills
  • Voter ID card
  • Aadhar card
  • Ration Card
  • Water tax
  • Mobile Bill
  • Broadband bills
  • Property tax


Account statement proof
  • Last 6 months Bank Account Statements for all Bank Accounts held by the applicant
  • If any previous loan from other Banks then Loan A/C statement for last 1 year
Salaried employees documents
  • Salary slips
  • Salary account statement
  • Form 16
  • Employment proofs
  • IT returns for 2 years
  • Salary certificate
Important documents
  • Loan application form
  • 2 passport size photograph

Eligibility for a personal loan for salaried individuals

Credit score:

A credit score is a common eligibility criterion that needs to be fulfilled by salaried individuals to get a personal loan. A credit score of more than 750 can help you get an instant personal loan without any limitations. A good credit score makes you an asset for the loan provider so that you can borrow at ease. It helps you with instant approval as well as keeps the loan cost low and affordable.

High income:

For salaried employees, the salary is the basic eligibility criteria that decides whether you are eligible for a loan and if eligible how much should be the loan amount. The loan amount will completely depend upon your salary and other criteria. An individual with a high income is always eligible for the amount that he or she needs. To get a sufficient amount of funds, you need to increase your source of income at work.


For salaried employees, loan providers are very strict regarding the documentation part where the details related to employment as well as salary can be clarified.

Job employers: Job employers are very important for a salaried employee to get a loan. If you are working with a government organization or a multinational company, you will be able to get the right borrowing experience. The loan providers always look for reputed employers as they signify growth and a stable income to employees. The ultimate motive of a loan provider is to check the income stability so that the borrowers can pay off their loan in time.

Job stability:

Job stability means if the employee is working as a permanent employee or on contractual temporary terms. This is important. To become stable an employee needs to stick with a certain company and keep working for a long time to get various benefits and perks. It becomes easy for a salaried employee to get an instant personal loan if he or she is working with a well-reputed brand.

How to apply for a personal loan?

  • Check your eligibility criteria. You need to be sure that the eligibility requirements of the loan provider you are applying for, and your eligibility criteria is matching.
  • Compare all the loan providers and then choose the one that has a low rate of interest. You shouldn’t go for an expensive personal loan. When you opt for an expensive personal loan, you end up paying high EMI which becomes a burden.
  • Apply online. Being a salaried individual you can apply online as there is no need to take leaves to apply for an offline loan. Apply online with the help of documents. You need to upload the scanned copies of the documents and submit them.
  • Approval is online and instant. You will get the disbursement amount in your account within 2-3 hours.

Wrapping up

A personal loan for salaried individuals has seen a significant rise and popularity. An instant personal loan online is affordable and helps you to get instant cash for all sorts of needs and emergencies. Use a personal loan calculator so that you can compare and choose an affordable loan.

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