Personal Loan for Salaried Employees
Unity Small Finance Bank understands that salaried individuals often face unforeseen expenses, whether it’s medical bills, home repairs, or personal events. A personal loan for salaried employees can offer a quick and convenient solution to manage these financial needs without tapping into savings. With flexible terms and no collateral required, Unity’s personal loan is designed to support your short-term financial requirements with ease.
Is Personal Loan the Right Choice for Salaried Employees?
For salaried employees, a personal loan can be a practical option for handling immediate financial needs. Whether it's funding a wedding, covering educational expenses, or managing medical bills, salaried employees often face time-sensitive expenses. The advantage of a personal loan is that it provides access to funds quickly, with minimal paperwork and no need to pledge any assets. Additionally, Unity Small Finance Bank offers personalized loan amounts based on your income, allowing salaried professionals to borrow according to their financial capability without burdening their monthly budget.
Features and Benefits of Unity Small Finance Bank Personal Loan
Loan Amount Flexibility
Borrow between ₹50,000 and ₹5,00,000 based on your financial needs and eligibility
Quick Disbursal
Access your funds quickly, ensuring that you can handle urgent financial matters
Customizable Repayment Terms
Repayment tenures from 6 to 36 months, offering flexibility in managing your finances
Attractive Interest Rates
Interest rates ranging from 16% to 30%, tailored based on your credit profile
No Collateral
No assets are required to avail of the loan
Minimal Documentation
A hassle-free application process requiring only basic KYC and income documents.
Are Salaried Employees Eligible for a Unity Bank Personal Loan
To be eligible for a personal loan from Unity Small Finance Bank, salaried employees need to meet the following criteria
Documents required
- Identification Proof: Aadhaar Card, PAN Card
- Income Proof: Salary slips for the last three months.
- Bank Statements: Recent bank statements showcasing salary credits.
- Address Proof: Utility bills, rental agreements, or similar documents
Fees & GST Charges Fees & Charges for Personal Loan for Salaried Employees
It’s important to understand the associated fees
| Fee Type | Amount |
|---|---|
| Processing Fee | 3% of the loan amount |
| Prepayment & Foreclosure | 4% on the outstanding amount if the loan is repaid early |
| Late Payment Fee | ₹500 + GST per missed EMI |
How To Apply for a Personal Loan for Salaried Employees?
1
Check Your Eligibility:
Ensure you meet the age, income, and credit score requirements
2
Use the EMI Calculator
Plan your repayment strategy by calculating your monthly EMIs
3
Submit Documents
Collect your KYC, income, and bank details for submission
4
Apply Online or In-Branch
Complete your application either online or by visiting a Unity Bank branch
5
Disbursement
Once approved, funds are credited to your account swiftly to address your financial needs
EMI Calculator
Before committing to a loan, it’s helpful to understand what your monthly payments will look like. The EMI Calculator provided by Unity Small Finance Bank allows you to input the loan amount, tenure, and interest rate to estimate your monthly EMIs. This tool helps you assess whether the loan fits within your budget and allows you to explore different repayment scenarios.
Tip: Use the EMI calculator to find the right loan amount and tenure for affordable monthly payments.
Type of Deposit
Deposit amount
Tenure
Start Date
Are you a Senior Citizen?
Amount on maturity
@
8.5%
interest rate *
Invested amount
Total earnings
Maturity Date
Conclusion
Unity Small Finance Bank’s personal loan for salaried employees is designed to offer a convenient, flexible, and quick financial solution for managing both planned and unplanned expenses. With attractive interest rates, flexible repayment terms, and no collateral required, this loan allows salaried employees to handle their financial commitments without the burden of lengthy application processes or asset pledging.
