Advance Salary loan - Instant Cash

Posted by Trishya Sharma on February 3rd, 2020

People who are working on daily wages and/or are unskilled workers like cooks, workers, construction workers and housemaids or the ones that have a luxury of taking advance on their slalaries from their employer can plan their financial journey and enjoy multiple benefits.

We’re talking about advance salary loans that is a dare need when it comes to instant expenses like emergency situations, etc. 

About the companies that don’t owe instant cash loans; IT, MNC companies and other usual companies are the ones.

Here are a few details on how advance salary loan (instant cash loan) works:

What is Advance Salary Loan?

As the name suggests, a loan that you can take from employer earlier than your basic salary is named as Advance Salary loans. Also, it is a short term loan and has a timeframe and procedure to return.

Additionally, these loans are an ideal choice for immediate financing and/or when you have reached the credit card limit:

What Exactly Advance Salary Loan Offers?

Unlike other loans that take much time in processing loans, advance salary loan has got a simple procedure to follow:

• Hassle-free and instant approval: Firstly, we have hassle-free and instant loan disbursal here. You just have to fill an online application and the money is transferred to your account. No need to visit the bank, stand in long queues, submit documents or waiting for days for the loan to be sanctioned. Moreover, the advance salary loan is relatively smaller than other loans, the tenure is shorter and taking this much loan doesn’t put too much pressure on the lending company or employer.

• Simple Eligibility criteria and requirement: You can avail 2.5 times of your total salary for a flexible duration between 3 months to a year or so. The only requirement that you have to qualify for is to be a salaried professional working in a Private/Government organization with an income of Rs. 40,000.

• Flexibility in Repayment and customization: There’s no strict repaying phenomenon here. You can customize the amount you can pay every month, no matter how much installments you take, you have the flexibility to pay the entire loan within 3 to 12 months.

• No Pre Closure Charges: Some employers offer you the flexibility to repay with no charges at all. To be eligible for these, you might have restrictions over the time duration to service the fast loan regularly.

• Clarity about loan amount: Unlike other loan types and categories, the prospective borrower is able to figure out what exactly the amount he/she will get. 

• No Collateral Needed: Lastly, the fast loan here doesn’t require you to pledge any security or collateral. 

The Bottom Line

This is how Instant loan (advance salary loan) works from start to finish. To be able to get this, you have to talk to your employer first and ask for details. Mostly, the procedure is simple and repaying the loan also have flexible plans. Just make sure you meet the eligibilty criteria, customize the plan according to your needs and you’ll be able to get the advance salary loan instantly.