Being a salaried employee gives you financial stability — but what if you need extra funds for medical needs, a wedding, home improvement, or even land purchase? That’s where a loan for salaried person comes in.
Banks and NBFCs offer multiple loan options, tailored for fixed-income earners. This guide covers the best loan options, even for those with low CIBIL scores, along with tips to improve eligibility and choose the right product smartly in 2025.
🔍 Who Can Apply for a Loan as a Salaried Person?
To qualify for most loans, you should:
- 🙋♂️ Be an Indian citizen aged 21–60
- 💰 You should earn at least ₹20,000–₹25,000 per month to qualify for a personal loan.
- 🕒 Hold at least 6 months of work experience
- 📑 Provide proof like salary slips, bank statements, and PAN/Aadhaar
👉 Tip: If your credit is poor, look into personal Loan for Salaried Person with low CIBIL score from NBFCs or digital lenders.
💡 8 Best Loan Options for Salaried Employees (2025)
1️⃣ Personal Loan for Salaried
Perfect for medical emergencies, weddings, or travel 🔄.
- Interest Rate: 10.5%–24%
- Tenure: Up to 5 years
- Banks: Axis, ICICI, SBI
📌Bonus Tip: Use a loan EMI calculator before applying!
| EMI Loan Calculator |
2️⃣ HDFC Personal Loan for Salary Account
If you have a salary account with HDFC, you may get quicker loan approval and better interest rates 💰.
- Interest Rate: Starting 10.5%
- Loan Amount: Up to ₹40 lakhs
- Processing: Often within 24 hours
3️⃣ Loan to Buy Agricultural Land for Salaried Individuals
Some banks like SBI allow salaried persons to invest in farmland 💳.
- Requirements: Clean income proof, land details
- Interest: 11%–14%
- Note: Not available in all states
4️⃣ Overdraft Loan for Salaried
Borrow as you need and pay only for what you use 🙋♂️.
- Linked to: Your salary account
- Flexibility: Great for unpredictable expenses
5️⃣ Personal Loan with Low CIBIL Score
NBFCs may approve even if your credit score is under 650 💸.
- Interest Rate: Higher (14–28%)
- Tenure: Short-term (up to 3 years)
- Pro tip: Apply with a co-signer if rejected initially
6️⃣ Home Loan for Salaried Employees
Use your salary slip and IT return to get home financing 💰.
- Rates: 8.5%–9.5%
- Banks: LIC HFL, HDFC, SBI
- Advantage: Long repayment tenures up to 30 years
7️⃣ Top-Up Loan on Existing Personal/Home Loan
Already have a loan? Top it up without new paperwork 📑.
- Interest: Slightly above base loan
- Eligibility: On-time EMI payments
8️⃣ Pre-approved Loans via Salary Account
Many salaried persons get exclusive offers from banks like ICICI or Kotak 💡.
- Quick to avail via mobile apps or net banking
- No documents, minimal verification
📊 Quick Comparison Table: Loan for Salaried Person
| Loan Type 💰 | Ideal For 🔄 | Interest Rate 💳 | Special Feature 📌 |
|---|---|---|---|
| Personal Loan for Salaried | General expenses | 10.5–24% | Flexible usage, easy to get |
| HDFC Loan for Salary Account | HDFC account holders | 10.5%+ | Quick approval, less paperwork |
| Instant Loan via Apps | Urgent needs | 12–30% | 100% digital process |
| Loan for Agricultural Land | Land investment | 11–14% | Income & land documents required |
| Overdraft Loan | Irregular expenses | 13–18% | Interest on used amount only |
💸 What is the Minimum Salary Required for a Personal Loan in India?
This is a very commonly searched question!
💡 Most banks require a minimum monthly salary between ₹20,000 to ₹30,000 for salaried individuals to be eligible for a personal loan. However, it depends on:
- 🙋♂️ Your employer category (private or government)
- 🏠 Your city (metro vs. non-metro)
- 💳 A credit score above 700+ is generally considered good for loan approval.
📑 Example:
HDFC requires ₹25,000 in metros, while some NBFCs may accept ₹15,000 in tier-2 cities.
📌Tips to Improve Your Loan Eligibility as a Salaried Person
Users also often search for “how to improve loan eligibility” — especially those with low CIBIL scores.
✅ Here’s what can help you qualify faster:
- Maintain a healthy credit score (700+ preferred) ⚡
- Don’t apply for multiple loans at once 🛠️
- Use a co-applicant, like a spouse or parent 🙋♂️
- Pre-close existing loans or credit cards 📑
- Show stable income for at least 6–12 months 📲
👉 You can also use our Loan Eligibility Checker to know where you stand!
| Check Loan Eligibility |
❓ Quick FAQs for Loan for Salaried Person
Q1: Can salaried people get loans without income proof?
A1: Yes! Instant personal loans with minimal docs are available 💳.
Q2: Are there business loans for salaried entrepreneurs?
A2: Yes, low-interest SME loans designed for salaried pros exist 💰.
Q3: Can I transfer my personal loan to reduce EMI?
A3: Absolutely! Personal loan balance transfers save money 💸.
Q4: Is loan insurance mandatory for salaried borrowers?
A4: Mostly yes, but you can pick your own policy 🧾.
Q5: What documents are required for a salaried personal loan?
A5: Basic documents include ID proof, salary slips, bank statements, and address proof 🏠.
🎯 Conclusion : Loan for Salaried Person
A loan for salaried person today is easier to get than ever — but choosing the right one makes all the difference. Whether it’s a personal Loan for Salaried Person with low CIBIL score, an overdraft loan, or an HDFC personal loan for salary account holders, what matters most is comparing smartly and borrowing only what you can repay.
📌 For more valuable tips and to use our EMI Calculator, visit our website now!
| EMI Loan Calculator |
📌 Want to check your loan eligibility in 30 seconds? Head over to our site today!
| Check Loan Eligibility |