Personal Loans up to ₹10 Lakhs for Salaried Employees

With Interest Rate Starting 11.49% p.a.

If you are a salaried individual, you can apply for a personal loan online effortlessly with a 100% digital process. Get a personal loan from Rs 1 lakh up to Rs 10 lakh with interest rate starting from 11.49% p.a. up to 19.99% p.a. Enjoy flexibility on your personal loan account with zero foreclosure charges, no lock-in period and zero pre-payment charges. Manage your personal loan account online through our mobile app no branch visits required.

  • ROI from
    11.49% p.a. to 19.99% p.a.
  • Zero Foreclosure & Prepayment Charges
  • No Lock-in
    Period

Features of Personal Loan

Mirae Asset Financial Services offers personal loans for salaried professionals with a fully online and hassle-free application process. Apply for a personal loan online at competitive interest rates starting from 11.49% p.a. up to 19.99% p.a., with flexible tenures ranging from 6 to 48 months. Get quick approval on your personal loan application within 24 working hours. Our personal loan for salaried individuals allows flexibility to close loan account anytime with zero foreclosure charges and no lock-in period. You also get the flexibility to make prepayments on your personal loan account without any charges.

No Collateral

Collateral-free loans from ₹1,00,000 to ₹10,00,000

Attractive Interest Rates**

from 11.49% p.a. to 19.99% p.a.

Fast Pre-Approval*

Get your loan approval within 24 hours

Zero Surprises

Transparent terms and
no hidden costs

Zero Foreclosure

Repay early without any charges

Flexible Tenure

Tenure options from 6 to 48 months

0 Hassles

No physical paperwork required

No Branch Visits

Apply, view & manage your account online

Easy To Apply

Apply online in a few easy steps

No Lock-in Period

Foreclose anytime without any lock-in period

* Funds will be disbursed within 2 business days subject to successful verification.

** The interest rate will vary depending on your credit profile, employment info, and salary details.

Personal Loan Eligibility Criteria

You will be eligible for a personal loan if you meet all basic eligibility criteria and can share the required documents during the application process. To complete your personal loan application online smoothly check your eligibility and keep the required documents ready before applying.

Applicant must be salaried with Minimum Salary of Rs. 35,000 per month.

Maximum FOIR
(Fixed Obligation to Income Ratio) - 70%.

Age - 22 to 58 Yrs
& Resident Indian National

1 Year Work-ex
(4 months with
current company)

Minimum credit
score of 700 or higher.

Available only at selected locations in India

Keep These Documents Ready for a Smooth Experience:
• PAN Card
• Latest 3 months salary slip
• Salaried bank account statement.
• Incase your current address is different from your permanent address, you need to provide any one of these documents with the current address: Aadhar Card, Passport, Driving Licence, Voter Identification Card, Registered Sale Deed or Gas, Electricity, Landline Telephone, Piped Gas, Municipality Water Bill (not more than 2 months old), or Bank Statement, Passbook (not more than 30 days old) or Valid Registered Rent Agreement (residual validity of more than 6 months).

Note: Only salaried individuals are eligible.

Eligibility is not a guarantee. Eligibility will be checked based on the information you provide. The amount you can borrow (loan amount), the repayment period (tenure), and the interest rate will vary depending on your credit profile, employment info, and salary details.

Personal Loan EMI Calculator

Make informed financial decisions with our Personal Loan EMI Calculator! Easily estimate your monthly EMIs before you apply for a personal loan online. Simply enter your desired personal loan amount, choose a repayment tenure, and estimate the personal loan interest rate to calculate your personal loan EMI instantly.

Key insights to consider:
• A longer personal loan tenure results in a lower EMI, but the total interest paid will be higher.
• A shorter tenure increases the EMI amount, yet reduces the total interest paid on personal loan over the period.

If you're looking for a low-interest salaried personal loan, or need to check the best interest rates, our personal loan EMI calculator helps you compare and plan your finances effortlessly. Apply for a personal loan online today and get quick approvals with Mirae Asset Financial Services!

Loan Amount

1,00,000 10,00,000

Interest rate

11.49% 19.99%

Tenure

6 Months 48 Months

Your Monthly EMI:

Total Interest
Principal Amount
Total Amount

Your Monthly EMI:

Eligibility is not a guarantee. Eligibility will be checked based on the information you provide. The amount you can borrow (loan amount), the repayment period (tenure), and the interest rate will vary depending on your credit profile, employment info, and salary details.

Personal Loan Charges, Interest Rates & Details

At Mirae Asset Financial Services, we provide personal loans for salaried employees online with competitive interest rates and no hidden charges, ensuring complete transparency. When you apply for a personal loan online, it is essential to check the interest rate range, minimum & maximum loan amount, and tenure to choose the best option for your needs. Additionally, borrowers should be aware of charges such as processing fees, stamp duty, foreclosure charges, prepayment charges, and lock-in periods. Understanding penal charges, bounce charges, and legal or collection fees is also crucial, as these costs may apply in case of EMI payment defaults or non-servicing of the loan.
Minimum Loan Amount
₹1,00,000
Maximum Loan Amount
₹10,00,000
Loan Tenure
Tenure from 6 to 48 Months
Processing Fees
3% to 4% of loan amount. PF will be deducted from the loan amount & net amount will be disbursed
Penal Charges
2.00% per month + taxes on the overdue amount for the default period
Interest Rate
Starting from 11.49% p.a. up to 19.99% p.a Interest rate is on a reducing basis, pay interest only on the remaining balance of your loan, not the entire amount borrowed.
Stamp Duty
₹200
Foreclosure Charges
ZERO Foreclosure charges with NO lock-in period
Bounce Charges
₹500
Bank Mandate Swap
₹500
Collection Charges
Upto ₹2,000 + taxes per instance
Legal Charges
On actuals (in case of default)
Annual Percentage Rate (APR)
13.44% p.a. to 38.07% p.a.
(including fees & taxes)
Minimum Period
6 Months
Maximum Period
48 Months

Taxes as applicable

Eligibility is not a guarantee. Eligibility will be checked based on the information you provide. The amount you can borrow (loan amount), the repayment period (tenure), processing fees and the interest rate will vary depending on your credit profile, employment info, and salary details.

An ideal way to compare personal loans is by checking the Annual Percentage Rate (APR), which is the total cost of personal loan per year, including not only interest rate but also fees like processing charges. This gives a clearer understanding of the actual cost of personal loan. Comparing factors such as APR, lock-in period, foreclosure charges, and prepayment options can help select a low-interest personal loan with favorable repayment terms.
Let's understand with an example:
If a customer avails a loan of ₹1,00,000 for 12 months, at an annual rate of 12% p.a., then the customer will pay monthly EMI for 12 months of ₹8,885 per month. The total loan payment over 12 months will be ₹1,06,619* (including principal and interest). Total Cost of Loan = Interest Amount + Processing Fees @ 4% + Stamp Duty = ₹ 6,619 + ₹4,000 + ₹200 = ₹10,819*

* Taxes as applicable

How to Apply for Personal Loan Online

Apply for a personal loan online in a quick and hassle-free process with no physical documentation. Complete personal loan online application process by uploading the documents online and complete the verification process in just a few clicks. Before applying, check your personal loan eligibility factors like income, credit score, and employment status. Keep documents like identity proof, address proof, income statements, and bank details handy for a smooth personal loan application process. On approval, the loan amount will be disbursed directly to your bank account. With seamless online process, you can easily apply for a salaried personal loan with a low-interest rate and get quick access to funds.
Download PDF for detail steps
  • 1
    Apply for Personal Loan via Web or App
  • 2
    Basic Details: Provide basic details & check eligibility. Complete e-KYC
    with PAN & Aadhaar details.
  • 3
    Additional Details: Provides address, employment, & additional
    details.
  • 4
    Choose Loan Terms: Based on eligibility, choose loan amount & tenure.
  • 5
    Complete Documentation: Creates e-mandate, sign loan agreement,
    & complete Video KYC.
  • Funds Disbursement: Funds are disbursed directly to your bank account (Subject to Verification).
APPLY NOW

Things to Know Before Applying for a Personal Loan Online

Before you apply for a personal loan, it's important to understand key details like eligibility, repayment flexibility, and charges. With our online application process, getting a personal loan is quick and hassle-free. Know more about interest rates, loan tenure, prepayment options, and other essential aspects to make an informed decision. Here, we answer the most common questions to help you manage your loan with clarity and confidence.
How Can We Help?

Personal loan is an unsecured loan that you can borrow from an NBFC or other lender for various personal expenses. Unlike a car loan or mortgage, you don't need to put up any collateral (like your car or house) to secure the loan. Personal loans are usually repaid in fixed monthly instalments over a period of one to five years.

The EMI calculator can help you to calculate the EMI amount and applicable interest.

  • a. Enter your required loan amount.
  • b. Select the applicable interest rate.
  • c. Choose your suitable repayment tenure.

You can see your monthly EMI amount and the total payable interest on your loan amount.

You don't need to pledge any assets or collaterals to get a personal loan.

The interest charged on your personal loan is reducing in nature. Your principal outstanding reduces with every EMI payment and interest is only charged on the revised principal amount.

You can apply for personal loan by Mirae Asset Financial Services via 100% online process. If your profile matches all the requirement criteria, the loan will be sanctioned instantly on completion of the process. The funds will be disbursed to your bank account within 48 hours subject to successful verification.

You can check the status of your loan application on the App/Website with a tap/click on the ‘Track Application Status’ button on the personal loan dashboard.

Currently, the personal loan can only be availed by a single entity.

You can use the personal loan to manage your expenses such as medical bills, home renovation, business expenses, travel expenses, etc. The loan amount cannot be used for speculative activities, capital market-related purposes, or anti-social purposes.

Upon completion of your personal loan application, the funds will be disbursed to your account within 48 hours, subject to successful verification.

A minimum salary of Rs. 35,000 is necessary to avail a personal loan with Mirae Asset Financial Services (India) Pvt. Ltd.

The required documents for personal loan are Aadhar Card, PAN Card, Driving Licence, Salary slips of last 3 months, Employee ID Card and Bank statement of salary account from current company. Incase your current address is different from your permanent address, you need to provide any one of these documents with the current address: Aadhar Card, Passport, Driving Licence, Voter Identification Card, Registered Sale Deed or Gas, Electricity, Landline Telephone, Piped Gas, Municipality Water Bill (not more than 2 months old), or Bank Statement, Passbook (not more than 30 days old) or Valid Registered Rent Agreement (residual validity of more than 6 months).

Currently at Mirae Asset Financial Services, it is not possible to do a personal loan Balance Transfer.

The interest rate on personal loan with Mirae Asset Financial Services starts from 11.49 % p.a. and is determined by multiple factors such as your credit score, employer, repayment capacity (debt to income ratio), etc.

Please follow the below steps to pay your EMI in advance

  • - Login to the App or Website
  • - Select the ‘Personal Loan’ dashboard
  • - Click on the ‘Pay Now’ option on the summary screen
  • - Select the ‘Loan Application Number’ in the drop-down menu.
  • - Select ‘EMI Payment in Advance’ in the ‘Payment Option’ drop-down menu.
  • - Select the ‘No. of Instalments’
  • - Click on the ‘Pay Now’ button and complete your payment.

Please be aware: Any EMI paid in advance will be credited towards upcoming EMIs. However, this advance payment will not be directly deducted from the principal outstanding amount. Consequently, the total interest paid on the loan account will remain unaffected.

Please follow the below steps to pay your EMI in advance

  • - Login to the App or Website
  • - Select the ‘Personal Loan’ dashboard
  • - Click on the ‘Pay Now’ option on the summary screen
  • - Select the ‘Loan Application Number’ in the drop-down menu.
  • - Select ‘Overdue Payment’ in the ‘Payment Option’ drop-down menu.
  • - Enter the amount
  • - Click on the ‘Pay Now’ button and complete your payment.

Failing to make EMI payments will result in bounce charges and penal charges, as outlined in the loan agreement's terms and conditions. Additionally, it may have a negative impact on your credit score & will be recorded in your credit history. Defaulting on the loan may also make it challenging to obtain any future loans.

You can write to mcare@miraeassetfin.com with the requested time slot for your video KYC along with your Application ID or call us at 1800 2099 180 (Monday to Friday from 9 am to 6 pm excluding holidays).

Please Note: You can schedule Video KYC anytime from Monday to Saturday from 9 am to 7 pm excluding holidays. The video KYC slot will be confirmed subject to availability of our Video KYC agent.

The processing fees is charged from 3% to 4% of loan amount. PF will be deducted from the loan amount & net amount will be disbursed. Eg. For a loan amount of Rs.4,00,000, processing fees charged will be Rs. 12,000 + Taxes (Rs.4,00,000 x 3% = Rs. 12,000).

Personal loans are not eligible for tax exemption.

You can choose your loan term as per your requirements from 6 months to 48 months.

The minimum loan amount is Rs.1,00,000, while you may borrow a maximum loan amount of Rs.10,00,000.

A minimum credit score of 700 or higher is necessary to get the personal loan.

Yes, you can foreclose your personal loan without any foreclosure charges and no lock-in period.

You can cancel your loan within the cooling-off period (3 days from the date of disbursement) in accordance with our lender partner's policies. Please note that the processing fee and stamp duty are non-refundable if the loan is cancelled during this period.

Why Choose Personal Loan With Us

At Mirae Asset Financial Services, we understand the importance of financial decisions in life. We aim to be your trusted partner assisting you in making the right financial decisions. Thus, our goal is to make your loan process simplified, convenient, and transparent with all costs and terms available and easy to understand, so you do not get any unwanted surprises and focus on things that matter to you.

Our personal loan is curated keeping in mind different needs you can come across and making your journey easy through such needs. If you are short on liquidity, we recommend use of our personal loans for the below use cases.

Personal Loan for Travelling

When it comes to traveling, whether domestically or internationally, the average expenditure can be significant—around Rs 30,000 for domestic trips and Rs 1,50,000 for international ones. However, you can easily manage these travel costs by considering a personal loan. With this option, you can repay the loan through convenient installments, making your travel plans hassle-free.

Personal Loan for Marriage

Planning a wedding involves managing numerous expenses, from food and décor to gifting and travel arrangements. Handling all these financial aspects can be overwhelming. To alleviate the burden, we suggest considering a personal loan. By availing of this option, you can easily manage wedding expenses through convenient monthly EMI payments. Let us help you navigate your wedding journey with financial ease.

Personal Loan for Home Renovation

Embarking on home renovations or setting up a new living space involves a multitude of expenses, including painting, repairs, furniture, décor, labor, electronics, and more. Fortunately, with a personal loan, you can navigate this financial challenge effortlessly. Break down your renovation expenses into manageable monthly EMI payments, ensuring a smoother and more accessible path to creating your ideal home environment.

Personal Loan for Medical Emergency

During medical emergencies, quick funds are crucial for hospital bills, procedures, medications, or post-treatment care. A personal loan for medical expenses helps you get the necessary funds without draining your savings. With flexible repayment and longer tenure than credit cards, it’s a practical way to manage unexpected healthcare costs.

Personal Loan for Travelling

When it comes to traveling, whether domestically or internationally, the average expenditure can be significant—around Rs 30,000 for domestic trips and Rs 1,50,000 for international ones. However, you can easily manage these travel costs by considering a personal loan. With this option, you can repay the loan through convenient installments, making your travel plans hassle-free.

Personal Loan for Marriage

Planning a wedding involves managing numerous expenses, from food and décor to gifting and travel arrangements. Handling all these financial aspects can be overwhelming. To alleviate the burden, we suggest considering a personal oan. By availing of this option, you can easily manage wedding expenses through convenient monthly EMI payments. Let us help you navigate your wedding journey with financial ease.

Know More

Personal Loan for Home Renovation

Embarking on home renovations or setting up a new living space involves a multitude of expenses, including painting, repairs, furniture, décor, labor, electronics, and more. Fortunately, with a personal loan, you can navigate this financial challenge effortlessly. Break down your renovation expenses into manageable monthly EMI payments, ensuring a smoother and more accessible path to creating your ideal home environment.

Personal Loan for Medical Emergency

During medical emergencies, quick funds are crucial for hospital bills, procedures, medications, or post-treatment care. A personal loan for medical expenses helps you get the necessary funds without draining your savings. With flexible repayment and longer tenure than credit cards, it’s a practical way to manage unexpected healthcare costs.

Remember: Responsible borrowing is key. Only consider a personal loan if you’re confident you can comfortably repay the EMIs alongside your regular expenses. Also, avoid personal loans if you can qualify for better financing options.

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