This article will discuss the Salary Advance Loan. If you need money urgently and are considering taking a loan from LoanOne, this article can be helpful. You can get a personal loan of ₹10,000 to ₹1,00,000, with a loan tenure of 12 months. However, it’s essential to analyze any loan platform before taking out a loan. Read this article to understand the entire process of the Salary Advance Loan before applying.
What is LoanOne
LoanOne is an online loan platform, a brand of AssistFin Technologies Private Limited, that offers salary advance loans ranging from ₹10,000 to ₹100,000. The loan tenure is 365 days. The interest rate is 1% per day. Their NBFC partner, Altura Financial Services Limited, is a non-banking financial company registered with the Reserve Bank of India and operates in compliance with all applicable regulations.
For example
We took a loan of ₹11,000 from LoanOne, of which ₹9,702 was credited to our bank account. The loan term is 37 days, and we have to repay ₹15,070 after 37 days.
- Loan Amount: ₹11,000
- Loan Term: 37 days
- Processing Fees + Taxes: ₹1,298
- Amount Received in Bank: ₹9,702
- Interest Rate: 1% per day
- Total Repayment: ₹15,070
Note: LoanOne’s interest rates and processing fees vary depending on the loan product and the applicant’s credit profile.
LoanOne Salary Advance Loan Benefits and Features
- Users can avail a Salary Advance Loan of ₹10,000 to ₹100,000 for up to 12 months to meet all their needs.
- No collateral or guarantor is required for a LoanOne Salary Advance Loan.
- It provides a transparent track record for customers with no hidden fees.
- It offers competitive interest rates and transparent APR calculations.
- It adheres to strict data privacy standards to ensure the security of your personal information.
- You can apply for an instant loan from the comfort of your home using your mobile phone; it’s 100% online.
- LoanOne is specifically designed for individuals who need money before their salary is credited. They can use it for their salary advance needs.
LoanOne Eligibility and Criteria
- The loan applicant must be an Indian citizen.
- The applicant’s age must be between 21 and 55 years.
- Monthly income should be ₹30,000 or more.
- The applicant must have at least 1 year of business or work experience.
LoanOne Salary Advance Loan Required Documents
- Aadhaar Card – linked to a mobile number
- PAN Card
- Proof of income (salary slip or bank statement)
- Bank statement of the salary account
- Selfie photo
LoanOne Salary Advance Loan Application Process
Follow all the steps below to apply for a LoanOne loan:
- First, visit the website https://loanone.in/
- Mobile Number
- Email Address
- Full Name, Date of Birth, and Gender
- PAN Card and Aadhaar Card
- Type of Employment and Company Name
- Monthly Income
- Address Proof (Permanent and Current Address)
- Selfie
- Bank Statement and Proof of Employment (Salary Slip / Office ID / UAN – for salaried employees)
- Payment Bank Account Details
- eNACH / UPI E-Mandate
- Loan Amount Bank Disbursement
LoanOne Salary Advance Loan: Real or Fake?
As we learned in this article, LoanOne is a trustworthy loan platform. It offers personal loans ranging from ₹10,000 to ₹100,000 through Altura Financial Services Limited, an NBFC registered with the RBI. According to LoanOne, it is committed to maintaining the highest standards to protect your information.
Note: This article is for informational purposes only. If you decide to take a loan from LoanOne, please use your own judgment and proceed with caution.
FAQs
What is LoanOne and how does it work?
LoanOne is a digital lending platform that offers a variety of loan services such as Personal Loans, Salary Advance Loans, Lines of Credit, Business Loans, etc. Users can apply for all loans online, complete the verification process digitally, and receive the funds directly into their bank account within minutes of approval.
Is my data safe on LoanOne?
Absolutely. According to LoanOne, they use advanced encryption technology to keep your personal and financial data secure.
What are the interest rates on LoanOne loans?
LoanOne’s interest rates are competitive and vary depending on the loan product and the applicant’s credit profile.
How long does it take to get approval from LoanOne?
Most loan applications with LoanOne are approved within minutes, and once approved, the funds are disbursed immediately.