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Advance Loan against Salary for Employees

Get your salary early in the form of a Short Term Loan from Cashkumar

Salary Loans for Working Individuals

Cashkumar now helps you tide over those times when the salary does not seem to come early enough. The fast paced lifestyle has created needs for young professionals which require advance funds. Getting to the end of a month, a requirement for money can come up for needs like daily expenses, goods purchases, travel, medical bills or others. Young salaried professionals have a great necessity for a service which can provide early salary that can be paid post regular pay is credited.

An advance salary from Cashkumar can be availed at anytime in the month and paid back as instalments after actual pay from the company is credited, over a set period of time. These loans are given over a defined tenure and for amounts between Rs 10,000 to Rs 1 lakh. The approvals are quick and almost entirely online with the source of funds being a peer to peer lending model. These short term loans are also known in some parts as salary advance loans or as an early salary.

The loans are given using the P2P lending model where people with excess funds can advance it to individuals in need of it. Loans are approved based on eligibility criteria like credit history, salary amount, company and current obligations. The process of approvals and disbursal is online with simple documentation. Recovery is done via the EMI route where borrowers can pay back in a month or over a period of few months. There are options to pre-close the advance salary loan as soon as you receive regular salary for the next month.

So if you are looking for early salary this month or on a regular basis to meet monthly needs, apply with us now. The simple application form will help fill in all your details to capture the loan amount eligibility. The documents can be uploaded online and our customer support team will fill you in with all details. To explore instant salary loans with Cashkumar, click on the link below right now. The loans are available to salaried individuals working in cities including Bangalore, Delhi NCR, Chennai, Mumbai, Hyderabad and Pune.

Documents Required for Advance Salary Loan

  • Three passport size photographs
  • ID proof – Passport/Voter ID/Aadhar or Drivers Licence
  • Residence Proof – Passport/ Landline Bill/ Post-paid Mobile Bill/ Rental agreement or Bank Statement
  • Pan Card copy
  • Age Proof – Passport/ Drivers Licence/ School Certificate or Pan Card copy
  • Income Proof - Latest 3 months salary slips
  • Banking Statement - 6 months bank statements
  • Job Stability & Continuity – Offer Letter, Relieving Letter and Form 16

Basic Eligibility Criteria for Advance Salary Loans

  • This loan is given to salaried individuals who should be over 23 years, working in a credible company, must have a good credit score as well as fair bank balance.
  • Salaried individual with minimum income of Rs 20,000. Salary bracket would again depend on the city you live in and the company you work for. Eg. If you are in a Mumbai, the salary requirement will be higher than non-metropolitan city and again if you are working in a top MNC, the salary requirement would be lesser than one working with a startup.
  • Should be staying in the city for at least 1 year
  • Total work experience should be at least 2 Years
  • You would require basic documentation such as your address proof, identity proof, latest bank statements etc

Salary Advance Loan Interest Rates

Check the Interest Rates and EMIs using Salary Advance Loan EMI Calculator at different monthly flat interest rates

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