Online Loans for Salaried Individuals in India

Minimal Documentation, No Fixed EMI, No Collateral, No Prepayment Penalty

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What is a Loan?

A loan is the sum of money that you can borrow from a lender and repay with interest. You can borrow money from any lender such as a bank, a non-banking financial company (NBFC), or a credit union. Different lenders have different terms, interest rates, and maximum borrowing limits. If you have an emergency and need money immediately, you can apply for a loan online and get the cash quickly to make ends meet.

Different Types of Loans FlexSalary Offers

FlexSalary offers unsecured loans from INR 4,000 up to INR 2,00,000 and you can get approved within a few hours. A FlexSalary loan can be used for any purpose. Some of the loans we offer include:

Line of Credit

A line of credit is an open-ended revolving loan. You can apply for a line of credit once and use it for a lifetime if you manage your repayments well. A personal line of credit allows you to borrow money up to your credit limit, repay it along with interest and borrow again. You can use the money for anything you like without any restrictions and repay conveniently in flexible EMIs. With instant approvals on a personal line of credit, we can help turn your dreams into reality!

Personal Loan

A personal loan can help you when you need money for an unexpected financial emergency. FlexSalary offers a customized personal loan that you can use for any purpose. You can use our loan for paying your tuition fee, wedding expenses, medical emergencies, and travel needs. Live the life of your dreams with an instant personal loan up to INR 2,00,000. Fill our simple online loan application, upload your documents, and submit. Your loan will be disbursed in a few hours of approval.

Salary Advance Loan

When you need money before the payday to pay for your utility bills, daily expenses, or travel needs, a Salary Advance Loan can come to your rescue. But now, you can instead download FlexSalary App and apply for a personal line of credit when you need a salary advance loan. You don’t have to swipe your credit card if you can get a line of credit. We offer a customized salary advance loan as a line of credit for working professionals in India. What’s the bonus? Our online loans are instant and come with no prepayment penalty.

To process your loan, some of the mandatory documents required are:

  • PAN card
  • Government authorized ID proof
  • Net banking for electronic verification
  • Photo
  • Address proof
  • Last 3 months payslips

Eligibility Criteria for a FlexSalary Loan

To be eligible, you must have:

  • At least 21 years of age
  • Should be an Indian citizen
  • Should be a salaried individual with a minimum monthly income of INR 8,000

Features and Benefits of a FlexSalary Loan

Earlier, banks have been the first choice for people to borrow money. But the trend has changed gradually. Right now, there are many non-banking financial companies, which are offering unsecured loans to people on the same day in quick time along with appealing features and benefits such as:

  • Online application process – We have a simple online loan application form. It is easy to fill, and you can complete it in under 5 minutes. You will have to provide your basic details, upload a few mandatory documents, and submit your application.
  • No collateral required - As we offer unsecured loans, you are risk-free from submitting your valuables as a guarantor to qualify for an online loan!
  • Minimal documentation - Submit a few mandatory documents such as ID proofs, residential proofs along with your bank statements.
  • No hidden charges – We do not levy any hidden charges. All the terms are clearly stated in the loan agreement.
  • Get instant approval – Choose ‘Net Banking’ while applying for our online loan to get instant loan approval. Alternatively, you can also upload your documents for verification. But choosing this option might take additional time to get approved for your loan.
  • Pay interest only if you use the borrowed amount - You will be charged interest only on the amount that you have used and not on the total amount that you have borrowed from us.
    For example, if you are approved for an amount of INR 90000 and you withdraw only INR 40000, interest will be charged only on the latter amount.
  • Repay & reuse - You will be eligible to withdraw your entire approved amount again only if you pay your principal outstanding and the interest charged.
    For example, if you withdraw INR 50000 from a limit of INR 80,000, and you pay back INR 50000 + interest, you will now be able to withdraw INR 80,000 again.
  • Get cash within 24 hours – You can receive cash within 24 hours once your loan is approved.
  • Flexible EMIs - There is no fixed EMI. If you are short of funds and unable to repay your loan, you can pay only the minimum monthly amount. Pay as per your convenience when you have sufficient funds.
  • No spending restrictions - We do not question your spending habits. So, you are free to spend all your money at once or as per your need.

Why Apply for an Online Loan?

Traditionally, people used to stand in a queue, fill many documents to apply for a loan. But now, you can apply for a loan right from your home’s comfort. Following are a few benefits of applying for a loan online.

  • Convenience:
    One of the key reasons why you may have to prefer online loans is the convenience it offers. Rather than standing in a queue and wasting your time and effort, it is better to apply for a loan through your smartphone in just a few clicks.
    For example, you can apply for a loan with one of the best loan providers in three simple steps and it's completely online. You will have to create your account, give us your personal, employment, and income details and upload a few mandatory documents and submit your loan application. Once your loan is approved, you will be notified, and cash is disbursed into your account immediately.
  • Hassle-free documentation:
    Traditionally, people had to submit a lot of documents by visiting the lender’s physical location to avail a loan. But, now that online lending has a streamlined process, you can upload the requested documents online. Fintech companies have eliminated the need for heavy documentation, making it hassle-free to get a loan in India. You just have to provide a few mandatory documents such as your address proof, ID proof, and income proof.
  • Easy to compare lenders to get the best deal:
    Almost every lender is now offering a loan online. So, it is easy to compare each of the lenders with respect to approval times, prepayment penalty, hidden charges, interest rates and make a quick decision on choosing the lender. Also, you can compare banks with NBFCs to decide which is going to suit your needs.

How to Apply for a FlexSalary Loan?

To apply for a personal line of credit, you need to follow a simple 3 step process mentioned below.

Step 1: Create Your Account - Visit the FlexSalary website at or download FlexSalary app from the Play Store or App Store and click on ‘Apply Now’.

Step 2: Tell Us About Yourself - Fill all your personal, employment and income details in the online application form.

Step 3: Give Us Your Documents – This is the verification step. You can either e-verify your details by choosing ‘Net Banking’ (or) upload all the requested documents and then click on the ‘Submit’ button.