A Sneak Peek At The Best Instant Loan Apps in India

If you think about why individuals take out personal loans, you’ll notice that it’s usually due to an unforeseen occurrence that is too essential to ignore. Medical crises, children’s education, and wedding expenditures are the most common reasons individuals take out loans in India. Furthermore, according to a survey conducted by NIRA, a finance company, around 28% of personal loans are taken out for medical crises, while 25% are taken out for family requirements such as children’s schooling, house remodeling, and weddings expenditures. According to their survey, ‘Understanding the Financial Challenges of Working India,’ around 77 percent of working India relies on personal loans to make ends meet. According to the research, 41% cite interest rate as their primary criterion for selecting a lender, while 30% cite loan tenure and 20% cite disbursal time as their primary criterion.

Unfavorable circumstances never knock on your door to let you know they’re on their way. So, what should you do if you find yourself in a scenario like this, with no money or savings to complete the work and a need for cash quickly? This is when instant loans might come in handy to assist you in getting through the tough times. And it is just what you require in a crisis. So, if you’re unsure whether you should take out instant loans or not, we propose that you examine your present circumstances and give it some serious thought. And if you’ve already decided, you’ve come to the perfect spot.

It is difficult to deny the benefits of an instant loan. It is most likely the finest financial product you can obtain for yourself. But for someone who doesn’t know where to turn, receiving an instant loan may be a significant issue. And here is where instant loan apps can fill the void by acting as a lifeline in emergency scenarios due to their quick processing and minimal documentation. But why should you use an instant loan app over other options? It saves you time from going from lender to lender and obtaining the loan by just pressing a button.

Some of the Best Instant Loan Apps in 2021

At the same time, with so many alternatives accessible, it might be difficult for a borrower to determine which one to choose. As a result, we’ve prepared a list of some of India’s Best Instant Loan Apps.


instant loan apps

Starting off with one of the best instant loan apps in India – EarlySalary. One of India’s finest cash lending applications, EarlySalary provides credit without requiring any physical paperwork and operates entirely online. The loan is granted on the same day, without any complications. Anyone having a monthly salary of 18000 rupees or more can apply for a loan of up to 5 lakh rupees through EarlySalary. EarlySalary has a unique technique to assess an applicant’s creditworthiness. It is called the Social Worth (SW) score, and it aids in the rapid disbursement of a loan in emergencies.


  • The loan application process using the EarlySalary quick loan app is confidential
  • You are not required to involve anyone
  • The process takes 15 to 20 minutes
  • You can apply for a personal loan whether you are self-employed or have a paid job
  • Flexible repayment terms ranging from 90 days to 12 months are available
  • Repeat loans can be applied for at any time of day and deposited into your bank account
  • Interest rates as low as Rs 9 per day are possible
  • A personal loan might be authorized on the same day that it is applied for
  • You can utilize the early salary limit to plan your trip and pay later in simple installments at 0% interest for three EMIs and a low rate for 6 EMIs
  • You can utilize your EarlySalary allowance to purchase on Amazon, Flipkart, and BigBasket and pay with Easy EMI at 0% interest

Loan amount: ₹ 3,000 – ₹ 2 Lakh
Interest rate: 2-2.5%
Ratings: 4.2


instant loan apps

PaySense enables you to select an auto-debit option for your EMI, making it easier to obtain a personal loan. Get a personal loan from 5000 to 5 lakh rupees with no collateral and adjustable interest rates. 


  • The processing charge is typically 2.5 percent of the loan amount
  • These loans are accessible to candidates who are both salaried and self-employed
  • The variable interest rate is available beginning at 13% per year
  • PaySense’s loan application process takes about two minutes
  • PaySense offers affordable loans to those with no credit history
  • Salary should be higher than Rs 18,000 per month

Loan amount: ₹ 5,000 – ₹ 5 Lakh
Interest rate: 1.08-2.33%
Ratings: 4

Money Tap

instant loan apps

Money Tap features a no-usage-no-interest function that makes credit more economical by charging interest only on the amount of money utilized. Once you have been authorized for the loan by providing the required papers, you will be issued a credit line that you can use as needed.


  • EMI terms are flexible, ranging from 2 to 36 months
  • Borrowers will also receive a free MoneyTap-RBL credit card with a variety of features and advantages
  • Using the app, you may get accepted for a personal loan in 4 minutes
  • You may utilize any amount from your credit line
  • A loan with no collateral is accessible
  • You can make UPI transactions using your Credit Line
  • Applicants must be between 23 and 55, with a monthly salary of at least ₹ 30,000

Loan amount: ₹ 3,000 – ₹ 5 Lakh
Interest rate: 1.08-2.03%
Ratings: 4.3


instant loan apps

Nira is a FinTech company that provides a line of credit to salaried professionals. The personal loan provided to you is in the form of a line of credit with a credit limit ranging from 3,000 to 1 Lakh. 


  • You can verify the loan in 3 minutes.
  • The loan term extends from three months to one year.
  • The interest rate charged on the loan amount is determined by how much you borrow and when you repay it.
  • You must have worked for a minimum of 6 months and earn a monthly income of Rs 20k or more.

Loan amount: ₹ 3,000 – ₹ 1 Lakh
Interest rate: 1.5-2.5%
Ratings: 4.1


loan apps

CASHe is a digital lending platform that offers short-term personal loans for various financial requirements but exclusively to salaried persons. You can directly deposit a portion of the loan money into your Paytm wallet. It is aimed at young professionals with a salary account searching for a short-term personal loan with no collateral and flexible lending choices.


  • Loan amounts range from Rs 10,000 to Rs 3,000,000.
  • The credit term ranges from two months to one year.
  • You have a variety of loan choices to select from based on your needs.
  • There are no foreclosure fees to pay.
  • The monthly net take-home pay should be at least Rs 15,000 each month.

Loan amount: ₹ 5,000 – ₹ 2 Lakh
Interest rate: 1.75%
Ratings: 4.2


loan apps

Credy is an instant loan-providing app in India that offers personal loans on customized conditions. It claims no hidden fees, no collateral, and quick online processing.


  • The monthly interest rate is from 1-1.5 percent of the borrowed amount.
  • The processing charge will be 3% of the loan amount.
  • Loans are available if you are a salaried employee earning at least INR 15,000 per month.
  • Borrowers can select a tenure period ranging from 3 to 12 months.
  • The maximum interest rate is 30%.
  • You can repay on time to obtain top-up loans and enhance your credit score.

Loan amount: ₹ 10,000 – ₹ 1 Lakh
Interest rate: 1-1.5%
Ratings: 4.1


instant loan apps

KreditBee is a platform for instant personal loans for self-employed and salaried professionals. It provides two types of personal loans: Flexi personal loans, small-ticket personal loans ideal for emergencies or lesser needs, and personal loans for salaried candidates. Anyone over 18 with a monthly income of INR 15,000 can download the app and apply for the loan.


  • You can obtain a Flexi personal loan ranging from 1000 to 50000 rupees authorized.
  • The payback period begins at two months and can extend up to 15 months, depending on the type of loan obtained.
  • Provides a term ranging from 62 days to 6 months.

Loan amount: ₹ 1,000 – ₹ 1 Lakh
Interest rate: 2-3%
Ratings: 4.5

Final thoughts 

We hope we were able to assist you in selecting instant loan apps that meets your requirements. You can choose any app from the alternatives listed above. While these money lending apps in India have made borrowing more accessible, you should always thoroughly read the terms and conditions before signing up to ensure that you completely know the borrowing and repayment arrangements. Before selecting any of the options, one should use caution and due diligence. It is also a good idea to evaluate different loan applications on the market and study them to pick the one that best suits your needs.

Support Your Female Team Members After COVID -19

We have all heard and unfortunately, even seen that women often face gender discrimination at work. Many women feel that their gender can be a barrier to their career progression. In a world where everyone is competing for success, it is important that we support our female team members in the workplace. And after a global pandemic, it is even more crucial to combat gender inequality to give fair and equal rights to both men and women. 

Although there are now more women in leadership roles, they remain underrepresented at many levels. You can and should do more to empower and support your female members. Here’s a starter guide:

6 ways to support your female team members

Here are a few ways you can support your female coworker after COVID-19. 

  • Close gender pay gap

One of the most prevalent issues of gender inequality in the workplace is the unequal pay gap between men and women. One way to support your female coworker is to offer fair pay. There should be a salary bracket for different job positions, and whoever fills the role should be paid fairly, irrespective of gender. 

COVID-19 disrupted the finances and business, resulting in women facing distinct challenges after the pandemic. Female team members are 1.5 times more likely than men to think about leaving the workforce because of unequal pay. Clearly, to retain your female team members and promote equality, it is important to close the gender pay gap in every organisation.

  • Give women opportunities

According to a report by CNBC, men get three times more promotions than women in the workplace. Also, as per the international labour organisation, the global labour force participation rate amongst women is 49%, and for men it is about 75%. There is a difference of 26 percentage points depicting a global gap between men and women who are employed or actively looking for employment opportunities. There is a need to provide better opportunities to your female team members and encourage them to pursue promotional opportunities, challenging assignments, and leadership opportunities. 

  • Make sure the ideas are heard

This doesn’t need to be said, but here it is anyway – there’s no reason to believe that women’s ideas are any less important than men’s in a business discussion. Encouraging your female team members and providing them with an opportunity to raise their voices, voicing their opinions, and giving them a chance to represent themselves in decision-making can help in closing the wide gender gap in the workforce. 

Moreover, promoting open channels of communication and encouraging active participation by women can create a sense of belonging. Make sure you give time to your female team members to put forward their ideas and views. 

  • Providing mentorships

Mentorships can largely help women succeed in the business world. To support your female team members, you can promote mentorship programs in your organisation to encourage them and help them excel in their careers. 

According to a survey conducted by leanin.org, about 60% of men feel uncomfortable mentoring women in a workplace. Therefore, one way to support your female team members is by offering mentorship and sponsorship programs to help them climb the ladder of success.

  • Giving credit 

According to a study report by the University of Delaware, women receive less credit for speaking up in the workplace than their male counterparts. Not giving credit to your female team members can discourage them or make them less confident in their ability to take up challenging tasks. 
Therefore they are less likely to step forward for promotional challenges. It is important to give credit to your female team members by acknowledging their contributions and giving them the recognition they deserve for good ideas. 

  • Celebrating accomplishments

One another way is by celebrating their business achievements and contributions. Recognising and celebrating women’s accomplishments can further help close the gap in gender equality. Introducing your female co-workers by highlighting their accomplishments is one way to support them and encourage them to step up their careers. 

It is important to prioritise the inclusion of women in the workplace to bring society closer to closing the gender inequality gap. 

Giving enough opportunities and creating empowering experiences for your female team members is one way to show your commitment to promoting the well-being of all the employees of your organisation, irrespective of their gender. 

Should You Opt For Two Wheeler Loan?

Public transport is advantageous in many ways – from costs to efficiency, but having a personal vehicle has a whole other level of appeal altogether. It gives you a sense of freedom and space. Further, two-wheelers have greater appeal over cars. It makes your commute easier and is cheaper for long-term use by individuals or two people. Students need two-wheelers to commute from school and tuition to home. Housewives need them to get essentials and groceries for home. Working professionals would prefer them as it is easier to find a parking spot for a two-wheeler rather than a car or bigger vehicle. Moreover in this pandemic, people are looking to socially distance themselves, and two-wheelers over cars or other public transport are the preferred option.

Two-wheelers have a varied range. They can be electric bikes, scooters, vehicles with smaller engines or lesser power, and even heavy motorbikes. Plus, there are different models, designs, and attractive features according to the two-wheeler you select. Given the number of choices, the prices also vary. Since two-wheelers are considered to be a long-term investment, they are moderate to heavily priced. 

You can also have added features, different color schemes, insurance cover, and other things which would add to your cost. Therefore, one must look for ways to finance it. One of the ways to do this is to take a two-wheeler loan. It is beneficial to take one because

(a) it is safe and affordable and 
(b) you can keep your savings for other emergencies.

Planning the loan

  • Loan Eligibility: Although eligibility criteria differ according to lender, there are some universal criteria followed by all lenders. One of them is the age criteria of the applicant which is generally between 21 to 65 years and a minimum earning per annum according to the place of residence. Sometimes your credit CIBIL scores are also taken into account to verify eligibility.
  • Selecting among the two-wheelers: The choices are numerous in the market of two-wheelers. But one must take into account their needs to judge the suitability of the respective vehicle to be purchased. Some lenders have partnerships with some of the brands which enable greater cost-advantage that can be taken into consideration.
  • Calculating the EMI: Depending upon the loan amount and repayment period, you should calculate the EMI to understand how much you would be paying. The EarlySalary EMI calculator helps you calculate your EMI for a two-wheeler loan as per the details fed into it. The calculator eases the process as you can avoid manual calculations by determining tenure, interest rate, and principal amount.
  • Repayment plan and other expenses: Getting a repayment plan formulated beforehand will reduce any future stress for you. Further, ensure a certain amount is kept aside for additional expenses like fuel, repairs and maintenance, insurance, PUC, etc.
  • Selecting the lender: This becomes the most important question. There are several lenders in the market providing various attractive schemes. Getting a two-wheeler loan alongside these schemes like festival offers will make your loans cheaper. One of the best two-wheeler loan providers in the market is EarlySalary. You can finance your two-wheeler with up to Rs 5 lakhs of the vehicle’s value with interest rates as low as Rs 6 per day. The whole application and disbursal process is completely online and easy with minimal documentation required. There are zero prepayment charges and flexible repayment tenures without any collateral required, making it an easy and hassle-free process.

For any questions on credit, loans, and your instant cash needs, you can visit the EarlySalary FAQs page! Feel free to get in touch with us on any of our social media pages as well; find us on Facebook, Twitter, Instagram, and LinkedIn!

Download the EarlySalary app here, or simply log in to our website and be a part of the #OneInAMillion experience!

Know-How To Get Personal Loan Using An Aadhar Card

With the advances in financial services, it has become easier and convenient to avail of easy personal loans by using an Aadhar card to meet your unexpected financial needs. Aadhar card plays an important role in identifying you as an Indian resident. 

The Government of India issues an Aadhar card for Indian citizens and allots a unique identification number for your identification. When applying for a personal loan, Aadhar cards also have records of your demographic and biometric information, which makes it a very important document. 

An Aadhar card is an all-purpose document that you can submit for age proof, address proof, and identity proof. If you are wondering if you are eligible to apply for an online personal loan using your Aadhar card, then you should know that many lending institutions approve personal loans on Aadhar cards and other minimal documentation. EarlySalary is one such platform that provides personal loans on Aadhar cards and few other documents. 

What other documents are required along with an Aadhar card for a personal loan?

Before the lender can proceed with your personal loan application, they will ask you for your KYC documents. However, you should know that your Aadhar card is a KYC document that can cover all the segments of your loan application, such as identity proof, age proof, address proof. 

But, apart from the Aadhar card, the lender will ask for income proof to determine whether you can repay the loan amount. Here are few documents that you will require other than the Aadhar card. 

  1. Bank statements– These are necessary documents that highlight your transactions. Your lender will ask you to submit bank statements of the previous 3-6 months to go through your transactions and check whether you are eligible for an instant personal loan. If your bank statement for the previous 3-6 months does not highlight a stable income, then you might have to encounter a loan rejection. 
  2. Salary slips- You can submit salary slips for easy personal loans if you are a salaried employee. 
  3. Pan card- it will ensure that you are a tax-paying citizen of India. 

In case you are self-employed, then you may have to show alternate sources of income. You can submit the bank statements, ITR, or form 16 for successful loan approval. 

Eligibility for a personal loan using an Aadhar card

To prevent repayment of loan defaults, the lender provides eligibility criteria for the individuals before applying for a personal loan. 

  • You must be 21 years of age and below 55 years to apply for an instant personal loan.
  • You must be a salaried employee with a minimum salary of Rs18,000 (Metro cities) and Rs15000 (Non-metros). 
  • If self-employed, you will have to provide income proof. 
  • You must have a good credit score.
  • You must be a resident of India. 

How to apply for an online personal loan using an Aadhar card?

You can apply for personal loans online using your Aadhar card in a few simple steps.

  1. Head over to the official website of EarlySalary or download the mobile application and sign up on the platform. 
  2. Click on the personal loans tab from the top of the screen. 
  3. Start your loan application process by clicking on the option Apply for a personal loan now.
  4. Start filling out the application by entering your personal details such as name, date of birth, email address, phone number, etc. 
  5. Specify your loan requirement. 
  6. Now, you will need your Aadhar card for identification, address proof, and age proof. 
  7. Submit the application form after submitting all the necessary documents. 
  8. Lastly, wait for application verification and loan approval. Once approved, the instant personal loan will be credited to your account.


Gone are the days when you would have to carry piles of documents to the bank for getting a personal loan. Now, with EarlySalary’s easy and convenient loan application process, you can apply for easy personal loans online by using your Aadhar card and other minimum documentation requirements. 

Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:

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 Download the EarlySalary app here, and be a part of the #OneInAMillion experience.


Learn To Boost Your Personal Loan Eligibility

The raging pandemic has led to economic uncertainty, and these uncertainties may occur any time without prior information. During these times banks, NBFCs, and other lenders tighten their lending norms due to the situation. With several lay-offs and pay cuts, there is a constant worry amongst lenders that their NPAs – the non-performing assets – would increase.

Since personal loans do not require collateral, lenders naturally become more stringent while providing these kinds of loans. Given buying habits of consumers, with a large economic downturn, more people are trying to avail the of personal loans to meet often basic needs. At a time like this, you do want green lights at every step of your personal loan application

And it’s possible to get them.

There are multiple ways to increase your personal loan eligibility, enabling that green light you are waiting for.

Ways to increase your personal loan eligibility

  • Clearing pending dues: One of the parameters checked by lenders is called fixed obligation to income ratio (FOIR) which checks the applicant’s pending EMIs. The amount being lent is a certain proportion of your FOIR, and this proportion keeps on changing, which might make it difficult for you to avail of the loan.
  • Improving your creditworthiness: A credit score of 700 or more is deemed ideal. Once you download your credit report, you can check the areas where you are lagging and try improving that by paying certain bills and EMIs. Further, a better credit score can allow you to get your personal loan at better rates.
  • Assessing EMI affordability: Shorter EMI payment periods translate into larger EMIs to be paid, but with lower interest rates. On the other hand, longer EMI periods have higher interest rates, but then you can pay smaller sums at distinct intervals. Understanding this would make sure you do not have to pay more than you can handle.
  • Taking joint loans: When you take a joint loan, both you and your co-applicant become liable to pay back the amount, easing your financial burden. Further, having co-applicant(s) might help with your credit scores if one of you has better credit scores, increasing your personal loan eligibility and getting it at lower interest rates.
  • Checking with the lender’s loan eligibility calculator: Whenever you are looking to borrow from a certain lender, check with their loan eligibility calculator and see where you stand. This will ease your process as you can determine the perfect type of loan, how much you should borrow and this will ensure a faster approval process from your lenders.
  • Meeting lender’s eligibility criteria: Other than your creditworthiness, lenders also consider certain other parameters like age, income, and employment status. You should make sure; you meet those criteria as they are crucial to getting that personal loan. Keeping all relevant documents by your side will make your approval process faster and easier.

Picking the correct lender

There are several lenders in this space. Finding one best among all can be a difficult choice, but making that suitable choice would ensure easing your financial stress. While there are several of these available in the market today with various attractive schemes, EarlySalary certainly stands out among them. Starting from Rs 1,000 loans with a minimal interest of Rs 6 per day, this Pune-based fintech portal has been changing the lives of common people around India by seamlessly providing affordable and convenient loans. This platform is trustworthy for even the young salaried individuals

Within few hours you can get instant cash loans up to Rs 5,00,000. You are free to use your loan for any purpose you wish with no restrictions and get your loan sanctioned without putting collateral upfront to facilitate your loan. The tenure for your loan can range up to 24 months, and the prepayment charges? Zero!

Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:

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 Download the EarlySalary app here, and be a part of the #OneInAMillion experience.

Is Investing In Online Education Course Worth?

Students around the world have been taking online classes because of the pandemic. And with students getting used to online classes during the pandemic for an entire year, many are opting for online education courses because of the flexibility and convenience of studying from the comfort of their homes. 

There may be several benefits of online learning, from increased flexibility to lower costs – students don’t need to take nearly as many education loans for online courses as conventional colleges, for example. But, online classes may not be for everyone as some individuals may want to engage in a face-to-face conversation with the faculty or get in-person touchpoints to keep on track and stay motivated. 

If you are planning to invest in an online education course, it is important to weigh the pros and cons before finalizing your decisions. Some students may prefer offline classes, and some prefer the online mode of learning. 

Advantages of online education courses 

  • Online education courses are convenient: One of the most important benefits of investing in online education is the convenience that comes with it. Your virtual classroom is available to you and easily accessible from the comfort of your home. You can access the class notes, assignments, or missed lectures, even when you miss out on one class. 
  • Flexibility to attend classes from anywhere: With online education, you can attend online classes virtually from anywhere in the world. For instance, if you want to invest in an online course from a specific university in another country, virtual classes make it easy for you to take any education course in any country without limitations. 
  • Cost-efficiency: Another advantage of investing in online courses is that you can save money that you would have otherwise spent traveling to the offline campus, buying food from a cafeteria, etc. Attending online classes from the comfort of your home gives you an opportunity to save a lot of money. An education loan, then, is channeled almost entirely into your actual education and not the peripheral costs.
  • Global interaction: With online education courses, you can socialize with people from different backgrounds and places. You can easily communicate with other students via chat rooms, bulletin boards, and mailing lists. Online classes allow you to connect and create global connections. 
  • Learn at your own pace: Online classes can be a good option for students who are not comfortable raising their hands for every small query or want to learn at their own pace. The online education courses can offer exceptional benefits as you can access the recorded video sessions at any time or even pause videos to understand the educational concepts at your own pace. 

Disadvantages of online education courses 

  • Sense of isolation: Studying online with your computer as your companion can create a sense of isolation for many students. Not being physically present while interacting with other students can be one disadvantage of online learning. You may want to interact and have a little fun with other students during the class breaks, but it might be a limitation when it comes to online learning.
  • Online courses require good time-management skills: Opting for online courses also requires good time-management skills to avoid burdening yourself with piles of assignments or other coursework. Taking classes from home requires a lot of focus and attention as there might be many distractions. Online courses require a lot of self-discipline to set aside time for taking online classes, studying, and completing the assignments on time.  
  • Technical barriers: Investing in online education courses means you need good internet access with a stable internet connection. You require a laptop or PC to access the virtual classes. There are chances that you might encounter technical problems or low internet connectivity from time to time when it comes to online learning. 


Online learning may be beneficial for some, but it may not be the desired choice of learning for others. The question is not about whether online education courses are worth it but whether they suit your professional goals and preferred learning style. You may opt for online education courses if you want convenience and flexibility. There are numerous online courses options available for you, and with EarlySalary’s instant education loans, the unavailability of adequate funds is not a limiting factor.

Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:

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 Download the EarlySalary app here, and be a part of the #OneInAMillion experience.


Financial Wellness Programs To Help Employees in The Wake of Pandemic

Most of today’s workspaces have millennials dominating the floors. As the demographic makes its presence felt across industries, sectors, and all facets of our culture, there’s no denying that millennials are savvy, hard-working, and have a consistent understanding of the changing trends of the world. Simultaneously though, surveys have shown that millennials are the worst at finances, and most of them are in debt.

College tuitions, student loans, and rising commodity prices are some of the most significant factors that drive the financial instability of today’s youth. Spending habits have also changed drastically over the years, leaving all age groups spending two times more than they earn.

In the current world scenario, where the pandemic has brought deaths knocking on our doorsteps, 65% of employees stated that they had no funds allotted for emergencies. So, what is coming to their rescue? The answer is employee financial wellness programs. 

What are financial wellness programs?

The premise is fairly straightforward: employers give financial benefits to employees, which are not just focused on post-retirement. In other words, an all-rounded financial wellness program offers an employee investing information and knowledge to have financial independence during their careers, not just after it.

Financial wellness programs impart two skills that the employees lack: Financial Literacy and financial capability.

Financial Literacy, by definition, is having the ability to understand and use several financial skills for better financial stability – from ceasing investment opportunities to understanding how stocks, bonds, share markets, compound interests, ETFs work. Being educated about these factors determines how financially educated a person is. Several finance experts state that being finance literate will help one steer clear of financial fraud and inculcate a safer way of managing their assets.

The financial capability involves utilizing a person’s financial literacy to make money. It is the combination of skills, knowledge, and attitude to make money and make financial decisions to sustain a fast-paced financial world. Financial capability drives an individual’s success and helps one budget and plan accordingly.

Financial literacy + Financial capability = Financial wellness.

Companies that offer financial wellness keep these two factors in mind and offer their employees the right services to keep them informed and stable financially.


While the benefits differ from company to company, the bottom line is the same. Employees with a competent wellness program offered by their employer are not only happier but also have a strong relationship with the company. It’s not difficult to see how these programs also increase job satisfaction and can reduce the depression that is caused due to poor handling of money. 

Apart from these, here are some of the benefits that these programs offer to their employees:

– Personal and household budgeting
– Consumer credit building
– Consumer debt reduction
– Managing Student loan repayment
– Emergency savings
– Short-term savings
– Managing Spending behaviours
– Understanding consumer attitudes
– Financial goal setting
– Financial crisis management (dealing with collections, extended unemployment, and even certificates required for filing bankruptcy)

Financial wellness programs have come to the rescue in the pandemic

A survey by Forbes has revealed that 78% of workers today have lived from paycheck to paycheck. Not more than 16% of workers have any money set aside for emergencies and post-retirement. 20% of workers have only saved for post-retirement age, and most of the employees had no sight of necessary savings and their importance.

During the pandemic, 114 million people across the world have lost their jobs. The situations have led employees worldwide to collapse into financial and mental depression, anxiety, and instability in their lives. Emergencies are out of the blue, and no healthcare plans can sustain the losses due to the coronavirus.

Employee financial wellness programs have come to the rescue today as they shed light on what is essential in the pandemic. These programs have allowed the employees to understand and invest in the right ways long before the pandemic. This has been highly effective in encouraging the employees to find the right ways to stronger finances.

Employers have offered guidance, support and have promoted planning and organizing finances even in these difficult times. This has been the most necessary support that the employees tend to need in these uncertain times.

Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:

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Everything you need to know about Personal Loan EMI Calculator

An online personal loan EMI calculator serves very obvious functions – making it easier for you to plan out your monthly loan installments. The equated monthly installment, after all, is a critical number, determined by your loan amount and your loan tenure. It’s with this perspective that EarlySalary’s personal loan EMI calculator was designed, with the goal of enabling you to instantly calculate your pay-outs and, therefore, plan your loan and repayment better.

How does a personal loan EMI calculator function?

Personal loans feature monthly repayments known as EMIs (equated monthly installments) that cover the entire loan tenure with a fixed repayment tenure. EMI calculator is a tool that helps you calculate your loan EMI based on some fundamental data such as: 

  • The amount borrowed, 
  • The interest rate applicable to the loan, and 
  • Tenure. 

At EarlySalary, you can use the EMI calculator free of charge, any time and any day, to calculate personal loan EMI that fits into your budget.

Factors affecting personal loan EMIs

Some factors play a crucial role in your overall EMI amount payable. These include the following:

  • Loan principal – As the thumb rule goes, with tenure and interest rate remaining constant, the higher the amount borrowed as a personal loan, the higher your EMI.
  • Interest rate – The higher the interest rate, the higher your individual EMI payout and the total interest payable on your loan.
  • Tenure – When a longer term is opted for, individual EMI payments will decrease compared to a shorter period for the same loan. But a longer term also results in higher total interest payable over the loan tenure.

Besides, a lender’s method of interest calculation also affects the EMI payable on a personal loan. The flat balance method of interest calculation involves calculating interest on the principal loan amount throughout the loan tenure. Thus, in such a case, the EMI amount remains unchanged for the entire loan tenure. At the same time, the reducing balance method involves computing interest only on the outstanding loan principal amount for each successive month instead of the entire amount initially borrowed. 

As a result, the principal used to calculate interest decreases as the repayment tenure progresses, leading to a decrease in the successive loan EMI. Currently, most banks offer personal loans based on the reducing balance interest calculation method, and the same process is used by EarlySalary’s online personal loan EMI calculator. 

Benefits of using a personal loan EMI calculator?

Some benefits that you should have an idea about while using a personal loan EMI calculator are:

Compare loans: Enter a fixed loan amount and tenure to vary the interest rate and processing fee depending on the rates set by the lender. That’ll give you a holistic idea regarding the total cost of your loan, which will then help you choose your personal loan product.

Time saver: EMI calculators are straightforward to use, take less than a minute to calculate your EMI amount, and are 100% accurate. 

Choose loan term: To see which one is better suited for your financial health, vary loan tenures and compare your EMIs. If you are okay with paying higher EMI and would like to close your loan early, go for a shorter term. Otherwise, you can always opt for a longer term.

Check your repayment schedule: EarlySalary’s loan EMI calculator also gives you a complete break-up of your repayment schedule. That way, you will get an idea of how much you’ll have to pay as interest and how much will be your principal outstanding.

Verify EMI details: You can attest your repayment schedule as offered by the bank by using the EMI calculator. Other than that, you can also calculate the processing fee that you have to pay upfront.

Use the instant cash loan EMI calculator

Skip the manual calculations. With EarlySalary EMI Calculator, you can precisely determine your interest charges, repayment amounts, and more.

EarlySalary’s instant loan EMI calculator is a reliable tool to determine your instant loan EMI within minutes and some simple steps. 

Follow this step-by-step guide regarding how to use the calculator:

Step 1. On the EarlySalary personal loan EMI calculator page, input your desired personal loan amount.

Step2. Provide the anticipated personal loan interest rate

Step3. Choose a time period over which you want to repay your loan

On completing these steps, your personal loan EMI will be displayed instantly. You can also view the total interest payable and the total amount owed.

EarlySalary offers instant cash loans of up to Rs 5 lakhs with quick processing and minimal documentation. Offers of interest rates as low as Rs 6/day, this is by far your most compelling option of credit in the market. 

Plug your details to determine your monthly repayments based on your sanctioned loan amount and interest rates. It’s that easy to understand. With EarlySalary, you can even prepay your loan amount with no additional charges. Liberate yourself with #OneSmallStep.

To find out more about instant loans and how easy they are to receive via EarlySalary, reach out to us on:

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Choosing Your Financial Independence This Independence Day

Financial independence can be defined as having enough money to live a comfortable life without working. Financial independence can, in fact, mean different things to different people.

Financial independence secures your future and allows you to pursue your passion. It is the ability to make life decisions without being constrained by financial constraints. Financial independence removes dependency and shifts the focus on what I need and want in life. According to Aegon’s Retirement Readiness Index, 55% of working people are saving for retirement.

A Strategic Plan for Financial Independence

While we take on and repay our debts to be free of our previous financial worries, it becomes important to have a plan to achieve this freedom. Here are some of the features of this strategic plan:

  • Financial Objectives: 

Your financial goals are unique to you. Consider your long-term objectives. Do you want complete financial independence—the freedom from having to work for a living and the ability to do whatever you want? Or are your goals more modest? 

Your age and financial situation will have an impact on your choice of objectives. If you are in your twenties or thirties, you have decades to accomplish your goals and the ability to take more risks. At this age, you might want to think about considering the FIRE (Financial Independence, Retire Early) strategy, which entails an extreme savings and investment strategy designed to allow you to retire much earlier than normal.

If you are older, say between the ages of 50 and 65, you almost certainly have retirement-savings goals, but if not, there is still time to plan for financial independence even if you do not. Depending on your goals and assets, this may entail a riskier investment strategy to compensate for lost time. Alternatively, you may need to rethink what constitutes retirement comfort.

  • Assets:

Which tools (weapons) will you require to achieve your goals? These can include a variety of income-producing assets, such as a savings account or CDs, as well as a portfolio of dividend-paying stocks, bonds (or bond funds), and real estate. 

Many people’s largest asset is their home, which can be converted into equity or used in a reverse mortgage to help fund retirement. And that isn’t the only way to make a real estate investment. Rental properties can generate significant cash flow, but they can also require significant investment and risk. Another option is to invest in real estate investment trusts (REITs).

Starting and running a profitable business with the eventual goal of either not being directly involved in day-to-day management or selling the business for a big profit is another wealth-building asset.

  • Tactics:

Begin by creating a budget that considers your income and other assets, allows you to pay your bills, and, if feasible, allows you to save and invest. Consider your budget as a road map to financial security. Pay attention to where your money is going and stay away from dead ends. Wherever possible, cut costs to free up funds for saving and investing.

If you have access to one, take full advantage of any retirement savings plans.

Similarly, establish an emergency fund to offer liquidity when you need it the most, such as for an unexpected (but required) expense. It’s critical to prepare for unforeseen circumstances that could ruin your efforts. It doesn’t have to be a pandemic; it could be a disease, a job loss, or a downturn in the economy, similar to the Great Recession of 2007–2009.

Finally, construct an investment strategy that takes advantage of compound interest’s power.

  • Perseverance: 

The concept of “eternal vigilance” in the pursuit of liberty could also be applied to financial independence. The path to financial independence necessitates a lifelong commitment to budgeting and investing.

Continue to look for new opportunities and new ways to make the most of your hard-earned money.

Perseverance also necessitates learning the steps for constructing a profitable investment portfolio and ensuring that it is rebalanced regularly to keep it moving toward your financial goals. Then, as you get closer to retirement, make adjustments. 

Achieve #AsliFreedom from Financial Worries with EarlySalary

Getting loans for consumer durable goods with minimal documentation and flexible tenure makes you a step closer to having removed any financial dependency.

Unlike typical banks, EarlySalary is a modern platform featuring a class-leading Salary Card, intelligent credit solutions, and a comprehensive credit suite. 

The platform works by incorporating thousands of data and intelligently infers your eligibility automatically so that you can avail of instant cash upgrades up to INR 5,00,000.

Even those without a good credit score or no credit score at all can get instant cash upgrades. Besides, EMI loans are available for Salary Cards, Edtech platforms, and multiple other brands.

Freedom did not come easily to India. It took nearly a century of struggle to achieve independence from foreign rule. So many sacrifices were made over hundreds of years of struggle before we were able to celebrate what we now call our Independence Day.

Achieving financial independence may not be easy. It may be necessary to give up some of your luxuries today in order to live comfortably later. Your efforts to save and accumulate the necessary funds to be financially independent may take a long time. And your investments may experience highs and lows at times. It is critical to remain calm and immune to disruptions while working to achieve “Financial Freedom.”

Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:

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Can I Instantly Get a Rs 3 lakhs Loan via Mobile?

In this fast-paced world, we look for everything to be at the end of our fingertips. Be it getting your groceries on your doorstep, to getting a salon hair-styling at your home, everything has come nearer via technology and mobile devices. Finances were fairly early into this game, however. Instant loan apps on phones have been around for quite a while, making it easy for anyone to get a loan via their mobile.

People need money for various purposes – ranging from a short-trip or to paying for their child’s education. Emergencies are sudden, and you never know when you might face a cash crunch. Further, this pandemic has rattled everyone’s finances. It has been difficult for everyone to keep up with their finances with a virus around. In this situation, deciding to get out and get a loan from a bank or an NBFC seems scary.

This is where an online loan process comes to the rescue. There are several advantages to it including:

  • Instant loan approval and disbursal process
  • It can be availed on-the-go
  • The documentation required is minimal and a simple file upload is required
  • Easy accessibility via the platform and to confirm your application status

Further, going one step ahead, these online loans can be availed at the end of your fingertips, via your simple mobile phone. Online lending platforms also provide mobile apps which can be easily downloaded from the respective app stores. These apps give you the added advantage of being simpler and quicker.

Although one might question which loan app to use, to avail your loan which suits your needs. There are several such apps available in the market which might have various attractive schemes, but one of them that stands out among others is EarlySalary. It is a Pune-based fintech portal that has been changing the lives of people all around India with its affordable and convenient loans which it provides seamlessly. Loans can be availed starting from meager Rs. 1,000 to Rs. 5, 00,000 with minimal interest rates starting at just Rs. 9 per day. 

EarlySalary has been a trusted portal for young and salaried individuals. You can use your loan for any purpose – EarlySalary has got you covered from travel loans to marriage loans and emergency medical loans. The loan gets sanctioned in a matter of a few hours, without you putting up any kind of collateral to facilitate your application. You can get your loans sanctioned for a range of up to 24 months, and without any prepayment charges.

The documentation is minimal and complete and the eligibility criteria are simple. The only criteria you have to follow to avail of a loan from here are:

  • You have to be a salaried Indian citizen
  • Existence of a Facebook/Google account to sign-in on the EarlySalary Instant Loan App
  • You should be aged at least 18 years or above
  • You must have a minimum salary of Rs 15,000 if you are a resident in a non-metro city or Rs 18,000 if you are a resident in a metro city.

The basic documentation including PAN Card, Address Proof, bank statement, Aadhar card, and a single selfie will ease your way into getting the desired loan for your needs. You can find EarlySalary all over India EarlySalary: Your One-Click Solution For Instant Loans.

EarlySalary is more than just a cash loan disbursal place. You can get instant loans, get a salary advance, and avail of its long-term financial loan solutions among a lot of choices in less than 10 minutes!

Feel free to get in touch with us for any questions on credit, loans, and your instant cash needs! We’re listening all day on:

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