Loading...
Loading...

Start with Early Salary Personal Loan in few steps

Please Enter your mobile number and name to generate OTP

Early Salary Personal Loan

Loading...
By submitting this form, you have read and agree to the Credit Report Terms of Use, Terms of Use & Privacy Policy
Product Rating

4.4 /5

Total - 462 ratings

5
279
4
119
3
42
2
15
1
7

Mode of Process

Online

Location

PAN India

Lending Size & Tenure

Upto 5 lakhs (60 months)

ROI

18.00% p.a.

ROI (Fixed/Reducing)

Reducing

Foreclosure

As per policies

Processing charges

2%

Partial Payment Allowance

No

Dealing in Unsecured OD

No

USP

100% digital process with instant loan approvals.

In our day-to-day lives, unexpected expenses can pop up at any time. Sometimes, we are prepared for the same, and sometimes we are not. And for the situations when we are not ready, there are many options, or I can say many digital platforms available that can provide you loans in a few simple clicks.

And among these, early salary is the most commonly known and used application that offers Instant Loans to its users in India. This application can provide personal loans of up to Rs. 5 lacs to its users within just a few minutes.

Earlysalary is that lending platform that was founded back in 2015 and is based out of Pune, India. This has brought up the new credit scoring system in the market, especially for the superior customer profiles in India. EarlySalary provides its users with a small bridge loan unit once their next salary is credited.

Highlights of EarlySalary Personal Loan

    • Loan amount: up to Rs. 5 lakhs

    • Loan tenure: up to 60 months

    • Interest rate: 18.00% p.a.

    • Eligible applicant age: between 21 years to 55 years

    • Suitable applicant category: salaried individual

    • Minimum monthly salary of the applicant: Rs. 15,000

    Processing Fees: 2% of the actual loan amount

Here Are a Factors of EarlySalary Personal Loan


Mode of Process

Online

Location

PAN India

Lending Size & Tenure

Upto 5 lakhs (60 months)

ROI

18.00% p.a.

ROI (Fixed/Reducing)

Reducing

Foreclosure

As per policies

Processing charges

2%

Partial Payment Allowance

No

Dealing in Unsecured OD

No

USP

100% digital process with instant loan approvals.

Rebranding of Early Salary to Fibe

The most trending digital lending platform, EarlySalary, has rebranded itself as Fine in September 2022 after achieving an AUM (assets under management) of approx $2.3 billion over the next five years. Fibe aims to extend the operations of this platform and build a significant presence with its outstanding product lines. This newly branded company seeks to create a more extensive network of BNPL partners and expand its presence, especially in tier III and IV cities.

EarlySalary has worked hard in its time as the best Salary Advance Business. Over the years, they have launched multiple personal loan options and have always satisfied their users. They have a diverse customer base with positive feedback about the company. And now, with Fibe, even a new website has been created for the same, as "fibe.in".

The name Fibe is a mixture of "Finance and Vibe" that shows the brand's efforts in providing hassle-free financial experiences to its users. As of now, in the current date, the company has around 3 million loans, a total worth more than $1 billion till now. The two main things that EarlySalary used to offer to their customers and even Fibe is offering currently are personal loans and Salary cards. So let us know a bit more about these two best services of Fibe.


About EarlySalary Personal Loan

Benefits of taking a personal loan from earlySalary

    • The signup process is straightforward and is 100% digital

    • You can avail of the personal loan within just 10 minutes of the signup

    • The personal loan EarlySalary offers are collateral-free loans

    • Minimal documentation required

    • You can even get the personal loan converted into simple 3 or 6 EMIs

    • If you wish to make a prepayment of the loans, it can be done at zero-cost charges.

    • You can repay the loan at your convenience.

    • The whole application and loan disbursal process is very transparent

    • Zero paperwork while applying for the personal loan

    • The main benefit is that you can apply for a repeat loan anytime.


How to apply for a personal loan with EarlySalary?

    1. For applying for an EarlySalary personal loan:

    2. It would help if you were a salaried individual earning a minimum salary of Rs. 15,000

    3. It would help if you were a resident of India

    4. Your age should be between 21-55 years

    5. You should submit the below documents of the application or the website itself:

    I. Your selfie

    II. Your PAN Card

    III. Your Address proof

    IV. Your Adhaar Card

    V. Your Bank Statement



Key features of SalaryCard

    • This card allows you to pay your loan payments on or before the EMI dates at zero interest.

    • This card is not going to impact your credit score utilization

    • This does not have any joining fees or annual fees

    • The card allows you to choose the tenure of your wish for repaying the loan EMIs


How to apply for SalaryCard?

  1. The complete application process of SalaryCard has to be done on the EarlySaklary mobile application. p[please follow the below steps for the same:

  2. Open the mobile application and click on the "SalaryCard" tab

  3. Fill out all the required information fields with your personal, residential, and professional details.

  4. Complete the KYC documentation process after approval via an OTP

  5. Once it is approved, you will be sent a final passcode to get your SalaryCard activated



Let us take an example, How EMI is being calculated


For instance, if "Shubham" applies for a Personal loan of INR 1 Lacs and get the loan sanctioned at the rate of 15 % with a tenure range of 36 Months , in such a case his EMI would be INR 3,467 and complete repayment amount till the end of 36 Months tenure would be INR 1,24,795 (i.e 3,467 EMI * 36 Months), wherein the total interest amount is INR 24,795 along with principal repayment of INR ₹1,24,795 . Few additional charges like those of minimal one-time processing fee upto 2-3% of loan amount may apply. T&C apply.

Year Principal
(A)
Interest
(B)
Total Payment
(A + B)
Balance Loan Paid To Date
2022 ₹ 11,363 ₹ 5,969 ₹ 17,333 ₹ 88,637 11.36%
Aug ₹ 2,217 ₹ 1,250 ₹ 3,467 ₹ 97,783 2.22%
Sep ₹ 2,244 ₹ 1,222 ₹ 3,467 ₹ 95,539 4.46%
Oct ₹ 2,272 ₹ 1,194 ₹ 3,467 ₹ 93,267 6.73%
Nov ₹ 2,301 ₹ 1,166 ₹ 3,467 ₹ 90,966 9.03%
Dec ₹ 2,329 ₹ 1,137 ₹ 3,467 ₹ 88,637 11.36%
2023 ₹ 30,332 ₹ 11,266 ₹ 41,598 ₹ 58,305 41.70%
Jan ₹ 2,359 ₹ 1,108 ₹ 3,467 ₹ 86,278 13.72%
Feb ₹ 2,388 ₹ 1,078 ₹ 3,467 ₹ 83,890 16.11%
Mar ₹ 2,418 ₹ 1,049 ₹ 3,467 ₹ 81,472 18.53%
Apr ₹ 2,448 ₹ 1,018 ₹ 3,467 ₹ 79,024 20.98%
May ₹ 2,479 ₹ 988 ₹ 3,467 ₹ 76,545 23.45%
Jun ₹ 2,510 ₹ 957 ₹ 3,467 ₹ 74,036 25.96%
Jul ₹ 2,541 ₹ 925 ₹ 3,467 ₹ 71,495 28.51%
Aug ₹ 2,573 ₹ 894 ₹ 3,467 ₹ 68,922 31.08%
Sep ₹ 2,605 ₹ 862 ₹ 3,467 ₹ 66,317 33.68%
Oct ₹ 2,638 ₹ 829 ₹ 3,467 ₹ 63,679 36.32%
Nov ₹ 2,671 ₹ 796 ₹ 3,467 ₹ 61,009 38.99%
Dec ₹ 2,704 ₹ 763 ₹ 3,467 ₹ 58,305 41.70%
2024 ₹ 35,208 ₹ 6,390 ₹ 41,598 ₹ 23,097 76.90%
Jan ₹ 2,738 ₹ 729 ₹ 3,467 ₹ 55,567 44.43%
Feb ₹ 2,772 ₹ 695 ₹ 3,467 ₹ 52,795 47.20%
Mar ₹ 2,807 ₹ 660 ₹ 3,467 ₹ 49,988 50.01%
Apr ₹ 2,842 ₹ 625 ₹ 3,467 ₹ 47,147 52.85%
May ₹ 2,877 ₹ 589 ₹ 3,467 ₹ 44,270 55.73%
Jun ₹ 2,913 ₹ 553 ₹ 3,467 ₹ 41,356 58.64%
Jul ₹ 2,950 ₹ 517 ₹ 3,467 ₹ 38,407 61.59%
Aug ₹ 2,986 ₹ 480 ₹ 3,467 ₹ 35,420 64.58%
Sep ₹ 3,024 ₹ 443 ₹ 3,467 ₹ 32,397 67.60%
Oct ₹ 3,062 ₹ 405 ₹ 3,467 ₹ 29,335 70.67%
Nov ₹ 3,100 ₹ 367 ₹ 3,467 ₹ 26,235 73.76%
Dec ₹ 3,139 ₹ 328 ₹ 3,467 ₹ 23,097 76.90%
2025 ₹ 23,097 ₹ 1,169 ₹ 24,266 ₹ 0 100.00%
Jan ₹ 3,178 ₹ 289 ₹ 3,467 ₹ 19,919 80.08%
Feb ₹ 3,218 ₹ 249 ₹ 3,467 ₹ 16,701 83.30%
Mar ₹ 3,258 ₹ 209 ₹ 3,467 ₹ 13,443 86.56%
Apr ₹ 3,298 ₹ 168 ₹ 3,467 ₹ 10,145 89.86%
May ₹ 3,340 ₹ 127 ₹ 3,467 ₹ 6,805 93.19%
Jun ₹ 3,381 ₹ 85 ₹ 3,467 ₹ 3,424 96.58%
Jul ₹ 3,424 ₹ 43 ₹ 3,467 ₹ 0 100.00%

FREQUENTLY ASKED QUESTIONS

Have a question? We've got answers!

EarlySalary offers their customers the following types of personal loans: Travel loans, Shopping loans, and Skill upgrade loans.

EarlySalary is being used in the below cities: Delhi/NCR (Delhi, Gurgaon, Noida, Greater Noida, Ghaziabad, Faridabad), Vijaywada Vishakhapatnam (Vizag), Jaipur Bangalore, Mangalore, and Mysore Chennai and Coimbatore Mumbai Chandigarh Bhubaneshwar Kolkata Hyderabad and Secunderabad Ahmedabad, Surat, and Vadodara Pune.

EarlySalary takes only 2 hours to transfer the personal loan amount to the customer's bank account.

EarlySalary, now known as Fibe, is one of the leading financial startups that is RBI-approved and RBI-registered and is best known for lending instant loans.

faqImg