Despite the fact that the market is flooded with instant loan apps, EarlySalary is the leading lending platform that provides instant loans to applicants who do not have a credit score or CIBIL™ score.

EarlySalary employs a fully technological approach to screening applicants. They assess your creditworthiness and approve your loan using their proprietary Social Worth Score calculator, which takes into account thousands of factors related to demographics and financial health. This score is also used to determine your credit limit and interest rate.

As a result, people with low CIBIL™ scores, or even no CIBIL™ score, can get a loan from EarlySalary. 

Here is a snapshot of the EarlySalary Loan Product – 

EarlySalary Loans Snapshot

Loan Types 

Instant Personal Loans

Shopping loans 

Salary Card

Education Loans

Loan Amount

Rs.5000 – Rs.5 lakhs

Interest Rate

1.5% – 2.5% 

Minimum Age Criteria

21 years

Minimum Salary Limit

Rs.18000 for metros

Rs.15000 for non-metros

 

Here are the other eligibility criteria to get a loan from EarlySalary:

  • Indian citizen
  • Above the age of 21
  • Salaried
  • Minimum salary of Rs.15,000 – Ra.18,000 (based on Metro or non-Metro cities)

The initial loan amount and interest rate are offered based on other eligibility factors (since you don’t have a CIBIL™ score) at the time of your application. You can request for a credit limit increase after 6 months of your last loan application. In the meantime, you should take necessary steps to improve your credit score and credibility so that you can get better interest rates.

Also Read: Does EarlySalary Check CIBIL™ Score?