The fintech sector has come along in the last half a decade. And so have our aspirations. Those of us fresh into our careers back then have evolved from young professionals building our lives, to aspirational individuals propelled by our own ambitions. In this period, EarlySalary is proud to have been a true partner – with its rapid, simplified credit access to millions of young working professionals

With EarlySalary, while it’s been possible to access a simple solution for all that you desire, we’re now announcing some major upgrades to serve you for this next phase of your financial journey. 

We’re announcing the instant, hassle-free SalaryCard.

What Is The SalaryCard?

Over the past 5 years, EarlySalary has grown to become one of the largest consumer lending FinTech brand in India, having disbursed over 1.7 Million loans, powered by a fully automated and ML-based decision system that allows thousands of loans to be disbursed each day.

Clearly, expanding credit access has been our overriding agenda. So it was only logical that we follow it up with a tool that further simplifies and expands credit for the country.

In the spirit of true digital India, by Indians, and for Indians, we’re delighted to introduce the Salary Card. The Salary Card is designed to be as mainstream as every other financial instrument – it is powered by RuPay and NPCI payment platform. But simultaneously, it’s also a cut above the rest by being entirely digital – no manual underwriting, no long wait times in your applications like with all other banks. 

But let’s move to what matters most – the SalaryCard’s core functionality:

  • The Salary Card is a prepaid instrument that allows your transactions to be automatically converted into flexible EMIs ranging from 3 to 12 payments, with zero prepayment charges. 
  • Gone are the days of Kafkaesque paperwork and hassle to secure credit for our ambitions, whether it’s the latest gadget or even our kids’ education. The SalaryCard allows you to directly transfer the fee to the educational institution from your credit limit with zero paperwork. 
  • It’s extremely easy to manage with your EarlySalary mobile application. The maximum limit is roughly equal to your monthly salary. But you can also set dynamic limits. In other words, it is possible to spend twice your monthly salary on this card.

How Do I Get The SalaryCard? 

The digital card can be easily obtained online using the EarlySalary app, within minutes. There are no subscription fees – it’s a free card! 

There are certain eligibility criteria, however, so be sure to check if you are eligible before applying for the card. You:

  1. Should be a resident of India
  2. Should be above 21 years of age, but below 55 
  3. Should be a salaried individual with a minimum of INR 18,000 in urban cities, and INR 15,000 in rural cities.

The entire process takes just a few minutes once you have an approved EarlySalary limit. And, of course, it is safe as users need to answer 2 security questions and have a 6 digit passcode set up in order to use the SalaryCard.

What Can I Spend It On?

The SalaryCard can be used for all indulgences, aspirations, essentials, and basically everything you can think of. So shopping, travel and entertainment, electronics, medicine and insurance, and even for skill upgrades (education and vocational training) – they’re all welcome. Instant loans with zero cost EMIs can be used for purchases on Amazon and Flipkart.

As a user, you will be rewarded after every transaction. This is over and above any Rupay Offers – which can save you Rs 10,000 additionally. All you have to do is shake your phone to see what you have won!

The limits for various categories can be varied, so make sure to check the EarlySalary app to fine-tune it as per your preference. 

Are There Any Prepayment Fees / Cancellation Fees?

No. There are no hidden charges, apart from the convenience fee of INR 199. You can prepay the EMIs and cancel your SalaryCard absolutely free of charge.

How Can I Manage The SalaryCard?

The SalaryCard can be managed with just a few taps from your fingers. Download the EarlySalary app here, and voila, everything you need at your fingertips. 

What are you waiting for? Download the EarlySalary app now, and join EarlySalary’s Credit Suite – celebrate the giant leap we’ve made for the Indian credit ecosystem!

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