About EarlySalary

One of the most innovative lending platforms, EarlySalary App, is specially designed to evaluate the credit scores of individual and develop new ways of customer profiling. Through these methods, they are making it easier for salaried individuals to get loans in just minutes of applying for one. This is one of the most promising new age finance platforms that is backed by a group of strong leaders.

This unique concept incorporates social media and technology-based assessment systems to provide new ways of ensuring that deserving applicants have access to instant cash when they are in most need of it.

About EarlySalary Loans

For salaried individuals, the time between the end of the month until the salary is credited to the account can be quite a tensed one. In case of any financial emergency in this period, finding access to funds can be difficult. In most cases, it would mean using a Credit Card or taking a Personal Loan at high-interest rates. This can put your whole financial plan for the future in jeopardy.

That is when you can make use of a salary advance loan like EasySalary which assesses each profile quickly and makes loans available to you in a matter of minutes. These short-term loans are the best option for you to get access to cash instantly when you are really in need of it. There is no restriction on how the money that is disbursed is used. You can make use of the cash that you get for any personal requirement like a medical emergency, travel, shopping, and even for functions like weddings.

These loans are also perfect for the technology savvy millennials who prefer access to services at their fingertips. You no longer have to wait in long lines or wait for days to have your loan application processed and accepted.

Features and Benefits

The salary advance loan offered by EarlySalary is loaded with beneficial features that help you plan your finances better and ensure that you do not have any cash crunch:

  • Get Loan Amount as per Your Eligibility: The loans provided by EarlySalary are based on the income and the credit score of the individual. For those who are applying for a salary advance, the EasySalary limit available is 5,000 to up to 2 Lakhs. In case you wish to use the EarlySalary credit limit in order to pay school fees, you can also avail up to 3 Lakhs based on your eligibility criteria.
  • Low Interest Rate: One of the most important features of these salary advance loans is that you get the most competitive rates of interest in the market. These loans charge a general interest rate of 2% - 2.5% per month. However, the interest rate is negotiable based on your current credit score and your creditworthiness. This makes it a lot more affordable for you to repay your loans on time and keep a high credit score.
  • Flexible Repayment Tenure: The loans provided by EasySalary come with repayment tenure of up to 12 months. In order to make sure that customers are able to retain a high credit score and are able to repay the EMIs on time, the repayment date is usually a few days after your salary is credited into your account.
  • No Collateral Required: There are no collaterals required for this loan as it is based on your salary and comes with an auto-debit option to ensure that you are able to repay your loans as per the due date agreed upon.
  • Convert Payments into EMIs: Once you have received your EarlySalary credit, you also have the option of converting various payments to equated monthly instalments (EMIs). The most beneficial feature is that you can make payments towards school fees using this credit. All you have to do is transfer your limit to the school that you have to pay the fees towards. Following that, you will be able to repay the credit in 3 to 6 EMIs. You can also convert any purchases made at partner companies like Amazon or BigBazaar into 3 or 6 affordable EMIs. This helps you avoid putting off any purchases that you need to make until your salary is credit. It also helps breakdown large payments into EMIs.
  • Easy Prepayment Options: If you wish to prepay your loan or foreclose it, you can do so without any added fees. You only have to pay the interest for the amount outstanding, which helps you save money as well. These prepayments can be made easily using netbanking options available to you.
  • Low Processing Fees: The processing fees charged on these loans are minimal and are based on the loan amount that you apply for.
  • Transparent Application Process: The terms and conditions mentioned by EarlySalary are extremely simple and straightforward. All you have to do is download the app and follow simple instructions to receive your loan instantly. You also have the option of applying through the website. The app and the website are extremely easy to use and have a simple registration process as well.

Terms and Conditions of EarlySalary Loans

Users have to agree to follow a few terms and conditions in order to operate their EarlySalary account.

Here is a detailed list of the terms and conditions that you need to be aware of:

  • By registering for services offered by EarlySalary, the applicant agrees to all the terms and conditions of the loan application. It is recommended that applicants store a hard copy of the agreement.
  • This website is available only for individuals who are eligible to form a legally binding contract as per the Indian Contract Act of 1872 which excludes any minors, solvents who are un-discharged, etc.
  • EarlySalary reserves all the rights to terminate or even refuse any access to the website if the individual is found to be ineligible as per the terms and conditions.
  • The user must submit certain information such as the name, address, age, phone number, and other data required by the app.
  • The user is responsible for all the activity that takes place under their account and they agree to maintain the security of the account by safeguarding the username and password.
  • In case any information provided is untrue, inaccurate or incomplete, EarlySalary has reasonable grounds to suspect inaccuracy of the information and even terminate or block access to the account.
  • The user also agrees to allow EarlySalary and its partners to collect the credit information from different credit bureaus in order to create the credit report.
  • Once the user registers, they also authorise EarlySalary to validate the present employment status and seek other details from current employers or any future employees.
  • The user must notify EarlySalary of any unauthorised use or any breach of security of their account
  • The user also agrees to receive any information, update or other communication through telephone, email or SMS by EarlySalary or other third party vendors.
  • EarlySalary reserves the right to track the location of the user in case they delete the app or discontinue its use.
  • The website serves as a platform for the user to meet with third party vendors for any transactions including the sanction of loans through NBFCs partnered with EarlySalary
  • EarlySalary cannot control any transaction or communication that occurs between the users of the website.
  • Any commercial or contractual terms are between the NBFC and the customers
  • The final decision of granting the advance will be made by EarlySalary partners based on the creditworthiness of the user in relation to the amount that is sought.
  • DPTL partners may require you to provide additional documentation or information as per their internal policies or applicable laws.
  • The user is solely responsible for any content that is posted on the app
  • The advance that is disbursed as per the loan documentation is an agreement made between the user and the EarlySalary partner.

Eligibility Criteria for EarlySalary Loans

The customer must fulfill certain eligibility criteria in order to get approval on his or her loan application, as mentioned below:

  • The applicant should be above 18 years and below 55 years of age
  • The applicant should be a salaried individual having a minimum salary of 18,000 in metro cities and 15,000 in non-metros.
  • The applicant must be an Indian resident
  • The app currently offers instant cash loans in:
    • Delhi, New Delhi, Gurgaon, Faridabad, Noida, Greater Noida, Ghaziabad,
    • Mumbai, Navi Mumbai, Thane, Pune
    • Chennai and Coimbatore
    • Hyderabad and Secunderabad
    • Bangalore, Mysore, Mangalore
    • Chandigarh
    • Ahmedabad
    • Jaipur
    • Bhubaneswar
    • Kolkata
    • Visakhapatnam
    • Vijayawada

Documents Required for EarlySalary Loans

The creditworthiness and eligibility for the loans are based on the documents provided by the user at the time of registering.

The following documents must be uploaded by the user in order to complete the registration process with EarlySalary:

  • PAN Card
  • Selfie
  • Bank statement
  • Proof of address:
    • Aadhaar Card
    • Driving License
    • Passport
    • Voter ID
  • In some cases, customers may also be required to submit the following documents along with the above documents:
    • Rent Agreement and Landlords Electricity Bill
    • Landline Bill (not older than 3 months)
    • Mobile Postpaid Bill (not older than 3 months)
    • Water Bill (not older than 3 months)
    • Electricity Bill (not older than 3 months)
    • Gas Bill (not older than 3 months)
    • Last 3 months' salary slips
    • Employment letter

How to Apply for EarlySalary Loans?

When it comes to the application of the loans, EarlySalary provides some of the simplest options.

There are three ways that you can submit your loan application for a salary advance loan:

Through the App

The best way to apply for the loan is through the EarlySalary App because it is available at your fingertips and gives you access to your loan account on the go. Here are the steps that you need to follow in order to apply for loans through the app:

  • Download the app through Google PlayStore onto your Android enabled mobile device
  • Register as a user by providing details like your name, address, age, employment status, etc.
  • Upload documents as prompted by the application
  • You will receive your credit score instantly
  • Choose the amount that you require as salary advance and the repayment tenure suitable to you
  • Once you agree to all the terms and conditions, the application is processed
  • If you are eligible for the loan and the amount that you have applied for is approved, the loan will be credited to your salary account immediately.

Through the Website

For those who do not have access to an android device or cannot download the application for other reasons, an application can also be sent online.

  • Log on to www.earlysalary.com
  • Click on the "Start Application" option on the homepage
  • Sign Up by providing your mobile number and agreeing to all the loan conditions
  • Provide necessary details as prompted by the website
  • Upload the necessary documents
  • Choose the loan amount that you want to apply for and the repayment tenure on the loan
  • Once the application is received and processed, the amount will be disbursed into your salary account.

Through MyMoneyMantra

MyMoneyMantra is one of the largest online finance platforms that connect users to several lenders across the country. If you choose to apply for an EarlySalary loan through MyMoneyMantra, get in touch with their customer care on 1800 103 4004. You can also send a request via email to contactus@mymoneymantra.com. A representative from MyMoneyMantra will get in touch with you and give you all the details that you need in order to complete your application.

Why Apply for a Loan through MyMoneyMantra?

When you apply for a loan through MyMoneyMantra, you get several benefits as mentioned below:

  • Get a customised loan plan based on details like your income, employment status, loan amount required, and city of residence.
  • Loan application process is simplified and faster loan turnaround is guaranteed with systems that function 24x7.
  • You can seek assistance from over 2500 relationship managers across the country to get any information about loans that you may require.
  • MyMoneyMantra has successfully financed the requirements of over 40 million customers across the country.
  • We are easily accessible from any part of the country as we have a presence in more than 500 cities all over India.
  • For the most innovative products and services, MyMoneyMantra has been honored with more than 100 banking awards.
  • We provide customers with easy financial tools such as EMI Calculator that help them make an informed decision when applying for any loan.
  • From documentation, submission of application, to disbursement of loan, MyMoneyMantra provides continuous support to all customers.
  • You have a single point of contact for over 90 banks and non-banking financial companies (NBFCs), allowing you to compare various deals and products before choosing one that is best suited to your needs.

How to Calculate EMI?

When you apply for a loan, make sure that you are aware of the EMI well in advance. That way, you can be sure that you will be able to make all the repayments on time without any burden each month. There are two ways in which your EMI is calculated.

Using Formula

All banks and lending organizations use a standard formula to calculate your EMI. This formula allows you to manually calculate the EMI repayable each month. The formula used is [P x R x (1+R)^N]/[(1+R)^N-1]

Here P is the loan quantum, R is the rate of interest and N is the term of the loan.

EMI Calculator

You can access the MyMoneyMantra EMI Calculator that will help you get the exact EMI instantly. This option is available at no added cost and is the most feasible option as it is not time consuming and avoids chances of human error.

In order to calculate your EMI using this tool, all you have to do is provide the loan amount, the rate of interest, and the repayment tenure on the loan. The EMI payable will be displayed on the screen instantly.

What to Check After Calculating EMI?

Everyone has certain expenses that cannot be neglected each month. This includes the rent, school fees, EMIs towards other credit, etc. Once you have calculated the mandatory expenses each month, the next step is to deduct it from your monthly income. Apply for a loan that you can repay with the amount that is remaining. You have the option of making changes to the budget or even the repayment terms of the loan agreement in order to make the EMI affordable.

Fees and Charges for Early Salary Loans

Customers will have to bear some basic fees and charges to complete the loan application. 18% GST is applicable on all the charges provided below:

Charges Towards



Processing Fees


First Loan

Second Loan

Subsequent Loans

8,000 to 10,000




10,001 to 30,000




30,001 to 60,000




60,001 to 1,00,000

1.5% of the loan amount



Late Payment Charges

3% of outstanding amount each month, subject to a minimum of 500

Repayment Instrument Reject Charges

250 per rejection

Charges for Bouncing of Repayment Instrument

500 per month

EarlySalary - Customer Care

For any details on the loans or other information, you can contact EarlySalary through two channels:

  • Phone: 020-67639797
  • Customer queries: care@earlysalary.com
  • Customer Level 1 Escalation: complaints@earlysalary.com
  • Customer Level 2 Escalation: grievance@earlysalary.com

FAQs - EarlySalary

What are the repayment options available for EarlySalary Loans?

You can make repayments through the mobile app. You also have the option of providing an ECS or NACH to auto debit the loan amount from your salary account. In this case, the EMI will be deducted from your account directly on the due date.

Are rate payments informed to Credit Bureaus?

Yes. All the lending partners and NBFCs are registered under RBI. As per the RBI guidelines, they are obligated to providing all the information on the repayments made by the customer towards the loan. This includes credit bureaus like Equifax and CIBIL as well. This may impact the chances of the user getting any suitable credit in the future. Therefore, it is recommended that repayments be made on time.

What is the Refer a Friend Offer?

Each time you refer a friend to EarlySalary, you get incentives for yourself and your friend. You and your friend will receive 200 off on the loan amount that you have applied for.

Is it possible to cancel or close the account permanently?

Yes. Customers have the option of closing an account permanently after clearing all outstanding dues towards the account. The customer will not be able to apply for an additional loan after the account has been deactivated. In order to deactivate the account, the customer has to send an email to care@earlysalary.com.

What cities is this facility available in?

You can access EarlySalary from Mumbai, Delhi NCR, Jaipur, Hyderabad, Pune, Chennai, Ahmedabad, Bangalore, Vishakapatnam, Mysore, Coimbatore, Mangalore, Vijayawada and Mangalore currently.

Why is social media data required?

EarlySalary uses social media data or any other social data that is available on your device in order to assess your application. The Social Worth Score is extremely important in determining the client profile. Therefore, it is recommended that users update all the information on Facebook, LinkedIn and other social media profile in order to get access to loans through the EarlySalary application. 

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