So, How does Advance Salary Loan work?

With Advance Salary Loan you will never feel the need to swipe your credit card. You get a line of credit or salary early up to 2.5 times of your net salary. Advance Salary loans are offered for short tenure of 3-12 months. They are repaid through equal monthly installments leading to NIL loan outstanding at the end of tenure. Apply online and get instant loan offers. Disbursals are quick with minimum paperwork.

Why take Advance Salary Loan from LoanTap?

Whether it is a pile of bills that popped up before the salary day or a sudden car breakdown that needs urgent attention, our advance salary loans help you meet these unforeseen expenses without having to wait for your salary. This short term loan lets you avail up to 2.5 times your salary in advance and pay across a tenure of as long as 12 months!

Instant approval & disbursal

Instant approval & disbursal

Easy online process for loan sanction and fast disbursal within 24-36 hours
Flexible Repayment Option

Flexible Repayment Option

Flexibility to switch to EMI free loan, enhancement and accelerated repayment option after 6 months of disbursal
Higher Loan Amount

Higher Loan Amount

Option to choose from amount ranging from INR 50,000 to INR 10,00,000 basis your requirement
Longer Loan Tenure

Longer Loan Tenure

Flexibility to choose longer loan tenure from 6 months to 60 months making EMIs more affordable
Minimum documents

Minimum documents

We collect only what is basic minimum documents for all our custom personal loan products
Transparent Process

Transparent Process

No hidden charges, No pre-payment charges and secured processes

Basic Eligibility criteria for availing Advance Salary Loans with LoanTap

  • Individuals with a minimum monthly income of INR 40,000
  • Indian citizens/residents who are 21 years and above

Basic Documents required for availing Advance Salary Loans with LoanTap

  • PAN Card
  • Salary Slips (Last 3 months)
  • Salary Account Bank Statement  (3/6 months)
  • Address Proof 

Personal Loans Product Suite

No matter what your requirement, use LoanTap’s Personal loan to fulfill all your needs.

Flexible Repayment options

Final installment options for a loan will be decided based on your profile and inputs.

Term Loan

Term Loan

Repayment done via Fixed Equated Monthly Installments, where EMI=Principal + Interest. Each Installment reduces both interest and Principal amount. Ideal when: You know the precise Loan Amount needed and your income is consistent.
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Frequently Asked Questions

GeneralLoan Processing Repayments

Advance Salary is a short-term loan against your salary, provided to meet some urgent personal needs. The loan amount can be as high as 2.5 times of your Net Salary. LoanTap Provides maximum loan amount under Salary Advance Program.

We offer Advance Salary Loans ranging from Rs 25,000-Rs 100000. Final loan amount calculation depends on your income eligibility and credit checks.

Advance Salary Loans are available for tenure of 3 months up to 12 months. Tenure depends on your choice and loan eligibility.

Salaried professionals with a salary of Rs 40,000 and above.

We need below documents for processing your loan request- PAN, Address proof, 3 months’ pay slips, 6 month’s salary account bank statement, e-NACH mandate form. However, we might request for a few other documents if need arises during credit checks.

Currently we are providing our Loans in Bangalore, Hyderabad, Chennai, Coimbatore, Mumbai, Pune, Ahmedabad, Vadodara, Raipur, Bhopal, Indore, Jaipur, Delhi-NCR, Ajmer, Lucknow, Mysore, Visakhapatnam, Kolkata, Howrah, Bhubaneshwar, Patna, Nagpur, Nashik, Rajkot, Surat and Chandigarh locations.

Yes, a flat processing fee of Rs 2500 +GST will be applicable on a loan amount up to Rs 50,000 and Rs 5,000+ GST for loan amount higher than Rs 50,000.

In Advance Salary, you repay the installment amount monthly on due dates, as per the agreement signed by you.

Since this is a short-term loan, part payments or foreclosures are not allowed.