Bangalore is the center of the high-tech industry in India, where thousands of folks migrate for more exposure. It is also home to private industry, software companies, and research centers. This beautiful city is popular for its nightlife and thriving opportunities amongst the millennials. Bangalore is also popularly known as the Silicon Valley of India.
However, living a comfortable lifestyle in this fastest-growing cosmopolitan city is tough for an average salaried individual if you solely depend on your salary, which gets credited at the end of the month. But, sometimes, you are stuck with unusual expenses and medical bills. It is a common issue for every average salaried individual. On your tough day, a Salary Advance Loan to cover all your expenses from LoanTap can be a welcome relief.
Salary Advance Loan: Introduction
Monthly Salary is the source of income that fulfills the basic needs and ensures financial security. Sometimes, your income goes into covering the additional expenses. Your savings can be helpful in emergencies. Either, you might have friends and family members lending cash during adverse circumstances at times. However, such options can bring inconvenience and problems to deal with. The Salary Advance Loans can support you by providing an early salary in the form of a loan and credit that amount within 24 hours without any compromise. Go and apply for a Salary advance loan as per your requirements.
How does Advance Salary Loan work?
Salary Advance Loan. offers you immediate funds ahead of your payday. These are unsecured loans available only for salaried professionals. LoanTap is a non-banking finance company, providing you with the most suitable loan for individuals facing a cash crunch. At the end of the month, you need urgent cash to meet the expenses such as credit card bills, electricity bills, medical emergencies, or going for a trip with friends.
Salary Advance Loan can help you fulfill your occasional requirements with extended monetary support. LoanTap offers you an early salary loan up to 2.5 % of your net salary, which can be between INR 25,000 – INR 1,00,000. It allows you to borrow instant cash as much as you need and repay the amount in minimum payments.
Are you eligible for an Advance Salary loan?
An Advance Salary Loan is a customized financial solution for individuals with a steady income. It is a quick and hassle-free approach to getting financial help when tough times come. At LoanTap, you need to pass all the eligibility criteria to get an instant cash advance loan in Bangalore. So, check the listed parameters for borrowers to know your eligibility score.
- An individual should be between 21 – 58 years of age.
- You must have a minimum income of INR 30,000/-.
- Keep the record of the six months bank statement of your account.
- You must be a full-time salaried employee.
- Your bank account and details should be valid.
- Your credit score should be decent to avail of the loan.
After clearing all the eligibility criteria, you can go further and visit the LoanTap website for instant disbursal. You can reduce the stress of tackling urgent expenses and avoid denting your savings. Salary loans are similar to personal loans, which allows you to get what you want with no worry.
Required Documents for Availing Salary Loan
Struggling with financial issues is a common issue for every working individual. To solve this problem, LoanTap brings you an ideal solution to fill the void with the best financial products during the monetary shortage. You can get a loan online by filling out an application form and uploading the required documents for same-day approval. Here is the list of the following documents:-
- PAN Card
- Identity proof as Aadhaar card/Driving license/Passport/Voter Id
- Copy of latest utility bill/telephone bill/postpaid mobile bill/ registered rent agreement as residential address proof.
- Salary slips of last three months
- Bank statement of the salary account of the last six months
If you have all these documents, make sure they are valid and updated. You should submit all your documentation on the LoanTap website. After successful uploading, wait for the response patiently.
How to Apply for Advance Salary Loan in Bangalore?
LoanTap offers you a simple online loan application to meet unexpected needs at the end of the month. The Instant Advance loan needs you to follow the step-by-step guide to get the disbursal of the loan amount within 24-36 hours. Carefully read all the given instructions below and verify your details twice before confirming the submission.
- Step 1: Visit the LoanTap website to fill out the application form with your personal information, professional information, and income proof. It may also ask you the reason for the loan requirement. You can also install the LoanTap app from Google Play Store to apply for a personal loan.
- Step 2: Once you have filled out the application form, you should upload the required documents after proper verification. As soon as you get the conditional approval, try to be patient and wait as the lender will look at your documents for the verification process.
- Step 3: After the verification, a representative from LoanTap will call you to complete the KYC process and verify them to activate the instant disbursal online.
- Step 4: As soon as your KYC is verified and matches the eligibility parameters, you will receive the requested amount of money to your regular salary or business account.
The best thing about the salary advance loan, the loan process will be complete within some minutes. If your CIBIL score is decent and your debt to income ratio is below 40%, your loan request will get activated and allow you to withdraw the minimum amount as much as you need. It gives you the freedom to decide the value of the monthly payment and choose a tenure according to your capacity.
Advantages of Salary Loans in Bangalore
LoanTap offers you a wide variety of financial products, which can help you quickest funds to turn your dream into reality. You can get an online salary advance loan If you have the right reasons and a decent credit score. These hassle-free personal loans are more appealing with the benefits, which are mentioned below:-
100% Online Process: The entire process of instant loans is online from the beginning. There is no need to visit any bank or leave your work for Physical verification. You can apply for an advance salary loan while working at the office or sitting in a chair at home. The LoanTap app has made it easy for borrowers to apply for a loan in just a few clicks.
Instant Approvals: Once your documents are verified, the LoanTap team will try to activate the instant disbursal of the loan and credit the amount up to 1,00,000 in your bank account. Unlike any other fintech lender, LoanTap gives you guarantees of same-day approval without any delay and lengthy paperwork.
Minimum Documentation: You don’t have to worry about a lengthy documentation system or filling out numerous application forms to avail of the loan. Some minimum documentation is required to apply for this loan, including your address proofs, identity proofs, and salary proofs. Our digitally
Convenient Repayments: LoanTap offers you convenient repayment options on instant salary loans, where you can repay in equal EMIs. The short-term loans up to INR 1,00,000 are easy to pay in tenure of 3 -12 months. A comfortable repayment option can help you manage monthly installments and be financially independent.
No Hidden Charges: LoanTap follows a transparent process to avail of the advance salary loan with no hidden charges before processing. However, a borrower needs to pay a processing fee of 2% plus GST on the principal loan amount. You have to pay the amount in equal installments without any hidden cost.
Lower Interest Rates: Using a credit card for meeting urgent expenses can be expensive for salaried professionals. The Salary Loan is an inexpensive solution with an interest rate of 2.5 % on the withdrawal from the credited loan balance. Credit cards charge interest rates in the range of 24-36% annually and more than the interest rates on loans.
What you can do with a Salary Advance Loan?
Living a comfortable lifestyle in Bangalore is expensive for those who earn an average income. A quick Salary Loan will help you plan the monthly budget before spending. Sometimes, you might face unexpected situations without any warning. Early salary loans can help you save your monthly salary and manage your expenses with sufficient funds. Here are the reasons why you should use the LoanTap Advance Salary Loan App:-
Medical Emergency: It is the primary reason for getting an instant loan. Medical emergencies are unavoidable. You can have a sufficient loan balance to cover the medical bills. If your account balance is low, you will feel helpless. An advance salary loan can help you by providing instant cash into your account, which can be repaid over the next few months.
House-Rent/Deposit: You want to switch to a new house. But, you cannot put down a deposit or pay the rent in advance. You are struggling with a monthly cash crunch and do not have enough funds in your account balance. In this situation, someone might help you with the deposit. If there is no one, an advance salary can help you cover the house deposit.
Monthly Bills: Suddenly, you remember that some insurance/ electricity bills are on your dining table. They have already passed the due date to pay. You were about to pay, but there’s not enough balance because it is the 25th of the month. No chance to wait for the salary to get credited. Here comes an Advance Salary loan to pay all bills and take the burdens of the repayments.
House Renovation: You want to renovate your house by upgrading home functions. Salary Loans can help you in planning a budget for the renovation. It will cost you less than expected. In this case, borrowing funds through an instant salary loan can save you from embarrassment and any money dispute.
With online loan access, you can keep track of the principal outstanding balance and monthly installments with interest. You can lead a better life with proper money management. But, sometimes, despite proper planning, you run short of money and face a cash crunch due to extra expenses. A salary advance loan is offered by LoanTap to help salaried employees and solve their cash-related issues. It is the best way to fulfill your wishes without depending on family and friends. In case of emergencies, you can acquire enough cash with Salary advance and pay off the amount in flexible installments.