Get Low Salary Personal Loan

Need cash for an emergency? Want to buy a new bike? Dreaming of that solo trip? Such needs and wants can easily be met with a personal loan. And the good news is, your financial requirements do not have to be confined by the size of your bank balance. Because in today’s time, the easy eligibility criterion of loan apps has made credit even more accessible.

If you’re someone who is feeling constrained by a low salary, you have come to the right place. With Zype, you can get a personal loan up to ₹5,00,000 starting at just 1.5% interest per month. You only need your PAN card and a minimum monthly salary of ₹15,000 to get approved for a personal loan. But this is not the only reason why Zype is a one-stop solution to all your financial requirements. Keep reading to find out more!

Getting a Low Salary Personal Loan

Don’t let your monthly paycheck hold you back from applying for a personal loan. Because Zype bridges that gap by offering personal loans tailored to people belonging to every diverse income bracket. But wait, there’s more!

With no document uploads or paperwork, you can complete an easy application that won’t take more than 5 minutes to complete. Based on the provided information and your credit profile, you can get approved for a personal loan in less than 60 seconds. After you have completed your KYC, you will receive the cash directly into your registered bank account within 24 hours.

The flexibility of borrowing doesn’t end here. To pay back the loan, you can choose from different repayment plans of 3, 6, 9 or 12 EMIs.

Eligibility Criteria for Low Salary Personal Loan

An easy eligibility criteria can improve credit availability for any person with a low income. And this is how Zype makes it happen:


You need to be at least 18 years old.

15000 Salary

You need a minimum monthly salary of ₹15,000.

 Employment Type

You need to be a salaried individual.


You need to be Indian with a valid PAN and Aadhaar card.

Documents Needed for Low-Salary Personal Loans

On Zype, you are able to apply for a personal loan in less than 5 minutes because there are no physical documents required for the application. This is all you require:

Proof of photo identity
Mandatory Documents

While completing the application and KYC, you will have to enter your PAN and Aadhaar number. (Physical documents not required) 

Mandatory documents
Real-Time Selfie-Verification:

After you have completed your application, you will need to complete a real-time selfie verification. 

Proof of Income
Income Proof (optional)

If you want to apply for a higher credit line, you can upload your bank statement for the last 4 months and get an increased limit.

Features and Benefits of Personal Loan for Low Salary

The fact that Zype is the best-suited personal loan for low-salaried individuals is beyond the quick application and easy eligibility. Here are more ways in which Zype can provide ease and convenience to its users:

No Collateral:

One of the reasons why it’s convenient to take a Zype personal loan is because they are unsecured loans! This means you don’t have to provide any asset like gold, jewellery, etc. to get access to money.

No Collateral Required​

Approval in 60 seconds:

While Zype’s application process is easy and quick, its approval time is quicker! After you have completed your application, you can get approved for a loan within 60 seconds.

No documentation or paperwork

Disbursal in 24 hours:

Zype understands that when the requirement for money is urgent, it should be met quickly. After you have accepted your loan offer and completed your KYC, you will receive the loan directly to your registered account in 24 hours.  

Competitive interest rate

No Document Upload or Paperwork:

You only need to enter your name, phone number, PAN, Aadhaar number and some other basic details to complete your personal loan application. You won’t require any physical documents for the same.

Approval and Disbursal

No Prepayment Charges:

There are no additional charges or penalties associated with prepaying your personal loans on Zype.  

Competitive interest rate

Flexible Repayment Tenure:

With the flexibility of choosing among different repayment tenures, you can pay back your loan in 3, 6, 9 or 12 EMIs.

Approval and Disbursal

Quick Personal Loans for Low-Income Earner

Different people have diverse financial requirements and bank balances. And Zype is designed keeping all of them in mind. Even if you have a low income, you can increase your chances of getting a loan with a high credit score, clean repayment history and strong credit profile.

Providing loans to individuals coming from different walks of life, Zype’s easy eligibility has currently made credit accessible to more than 20+ lakh people in India. And with a quick application, approval, and disbursal, Zype takes ‘instant’ in instant personal loans too seriously, making credit even more accessible.

Personal Loan for A Minimum Salary of Above ₹15,000

Minimalist Table
Lender Zype
Interest Rate Starting at 1.5% (monthly)
Loan Processing Charges Processing fees from 2% to 6% on every loan
Penalty on Overdue EMIs Penal interest and late fees will be charged to your total outstanding loan on a daily basis

How to Apply for a Personal Loan with a Low Salary?

On Zype, you can apply for a personal loan even if you have a minimum monthly salary of ₹15,000. These are the 6 simple steps in which you can get instant access to a loan up to ₹5,00,000.

1) Download the Zype App from PlayStore/AppStore and create your account by completing mobile OTP.

2) Complete your application process by entering your basic information like your name, email address, PAN, etc.

3) Based on your credit profile and application, you can get approved for a loan within 60 seconds!

4) Complete a real-time selfie verification and do an Aadhaar-linked mobile OTP to unlock your credit limit.

5) Select the desired amount you want to borrow from your credit line along with a personal loan repayment plan that fits your budget.

6) You will receive your loan directly to your registered bank account within 24 hours.

Frequently Asked Questions

What Factors Impact Personal Loans with A Low Salary?

Some factors that can affect your personal loan with a low salary are your credit score, repayment history and overall credit profile.

How to Get a Personal Loan for a Low Salary?

If you have a minimum monthly salary of ₹15,000, you can apply for a personal loan on Zype. Just download the app from the PlayStore and complete a quick application which won’t take more than 5 minutes to complete.  

Do I Need to Submit Any Security for a Low-Income Personal Loan?

All Zype loans are unsecured loans. This means you don’t have to provide any security against the money you borrow.

Can I Qualify for Personal Loans for Low-Income People with Bad Credit?

While there could be lenders in the market who offer personal loans for individuals with low-income and bad credit, you may have to pay a higher interest and charges on it.

What is the Least Salary to Get a Personal Loan?

On Zype, you can get a personal loan of up to ₹5,00,000 with a minimum monthly salary of ₹15,000.

Is CIBIL Score Compulsory for a Low-Salary Instant Personal Loan?

Zype offers personal loans to individuals who are new to credit. While it’s not compulsory to have a credit history, a high CIBIL score can help you unlock high-value loans at a low-interest rate.