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Salary Advance Loan

We all work for a salary, a source of earning that gives us the motivation to perform better. But there are unforeseen situations where one month’s salary is not enough. During such times, employees can take advantage of an advance salary loan from their company itself or external sources such as financial institutions and non-banking financial companies (NBFCs). So, you can avail easy salary loan online in advance till your next salary arrives.

House rent, children’s school fees, repairs, utility bill payments etc. can be covered under a salary advance loan. Since, salary loan is taken for a shorter period, the EMI incurred is quite affordable and easy to repay. This makes salary advance much viable than a long-term loan.

No stress or embarrassment of asking for extra finance from elsewhere when you can apply for a salary loan online on your own. The instant loan facility from SimplyCash can work as a source of advance salary loans with the simple paperless application.

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Salary Advance Loan
Salary Advance

Why Simply Cash for Salary Advance Loan?

Simply Cash is an instant personal loan app powered by HeroFinCorp. It is a right online platform to expect quick approvals for salary advance loan. Borrowers in need of immediate advance money can apply for a loan between Rs.50,000 to 1.5 lakh via Simply Cash. The procedure for availing instant salary advance loan involves paperless documentation and real-time verification. Once verified and approved, disbursal is done within 24 hours.

With Simply Cash in hand downloaded in your smart phone, it is simple to manage the advance loan taken and check important details like interest rate, EMIs and repayment tenure from anywhere at the tip of your finger. So, take a risk-free short-term loan via Simply Cash and pay at your convenience in a flexible tenure of 1 to 2 years.

Use the in-built EMI calculator tool in the Simply Cash app to get the desired EMI on advance salary loans, based on the loan amount, interest and tenure.

An advance salary loan online is a saviour when a current month’s salary gets exhausted. Applying for a salary loan online makes it even better as there are no hassles of personally visiting the branch for formalities. Short-term loans between 50,000 to 1.5 lakh are enough to manage a month’s expense unless you have an emergency. A salary loan taken in advance enables budget planning for the rest of the month. Hence, it is always a good idea to apply for advance salary loans online through instant loan apps like SimplyCash.

Features and Benefits of Salary Advance Loan

User-friendly features of instant personal loan apps have simplified the application of salary loans online. If your bank balance is almost turning NIL for the current month, know about the features and benefits of salary loans online and submit a salary loan application in advance through instant loan apps such as SimplyCash.

Salary Advance Loan Tenure

Lesser loan tenure

Advances are generally taken for 1 to 2 years and doesn’t linger for years giving a burden of repayment

Instant Loan Amount

Loan Amount

The borrowed advance loan amount varies between Rs.15,000 to 2 lakhs, depending upon the loan provider. This is easy to repay when broken down into EMIs.

Quick Loan Approval

Loan Approval

The time taken for advance loan sanction is quick with minimal documentation whereas long term loan with a higher amount requires more verification of the borrower’s creditworthiness and assets.

Easy for Working Individuals

Easy for Working Individuals

Salaried and self-employed individuals have an advantage over freshers/job seekers to gain advance salary loan.

No Collateral Required

Collateral free

Being an unsecured loan, no security or assets are required to be mortgaged against advances given..

Eligibility Criteria and Documents for Salary Advance Loan

Whether the loan is for 50,000 or 1 lakh, borrowers should check the eligibility criteria before applying for an advance salary loan. It is to ensure there are no cases of fraud:

  • 1

    Age criteria: Applicant should be between 21-58 years

  • 2

    Minimum monthly income for salaried: Applicant should at least earn a minimum amount of Rs.15,000 monthly

  • 3

    Minimum monthly income for self-employed: Minimum earning should be Rs.15,000 monthly and six months bank statement is compulsory

  • 4

    Income proof: 6 months bank statement of salaried or personal account

  • 5

    Aadhar card or any other digitally enabled KYC documents are the first important document that cannot be missed

  • 6

    In the absence of Aadhar card, you can provide your Driving License

  • 7

    Other important documents include your professional and financial details inclusive of 6 months bank account statement

  • 8

    Your account should be in any of the accepted banks as suggested by the financial institution

How to Apply for Salary Advance Loan via Simply Cash?

The process of advance salary loan online is very easy, follow the steps below:

Salary Advance App
  • Install Simply Cash Instant loan app from Google Play Store

  • Register with basic details – mobile number & email address

  • Enter the desired loan amount and customize EMI using the loan EMI calculator

  • Paperless verification of KYC details using a security code

  • Bank account verification through net banking or 6 month’s account statement

  • Instant loan approved in minutes and transferred to the bank account

Note: SimplyCash documentation and eligibility criteria is much simpler, to know details click here
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Accepted Banks:

ICICI BANK LTD HDFC BANK LTD IDBI BANK STATE BANK OF INDIA PUNJAB NATIONAL BANK YES BANK INDUSIND BANK KOTAK MAHINDRA BANK LTD

IDFC FIRST BANK LTD AXIS BANK BANK OF BARODA TAMILNAD MERCANTILE BANK LTD INDIAN OVERSEAS BANK INDIAN BANK RBL BANK LTD DEUTSCHE BANK AG CITY UNION BANK LTD FEDERAL BANK SOUTH INDIAN BANK STANDARD CHARTERED BANK CANARA BANK KARNATAKA BANK LTD CITI BANK BANDHAN BANK UNION BANK OF INDIA DCB BANK LTD DBS BANK INDIA LTD THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD DEUTSCHE BANK UCO BANK

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