Find answers to the most frequently asked questions about AlphaSalary's short-term loan services. If your question is not answered here, feel free to contact our support team.
Any Indian citizen aged between 21 and 58 years who is either a salaried employee or self-employed individual with a minimum monthly income of ₹15,000 can apply for a short-term loan with AlphaSalary. You must have a valid PAN card, Aadhaar card, and an active bank account.
You need the following documents: PAN Card, Aadhaar Card, Bank Statement (last 3 months), and either your latest Salary Slip or ITR. The entire document submission process is digital — no physical documents need to be submitted.
The interest rate is up to 36% per annum on a reducing balance basis. The exact rate depends on your profile, loan amount, and tenure. There are no hidden charges — all fees are clearly stated in the Key Fact Statement and your loan agreement.
Once your application is approved and the e-sign process is completed, funds are typically disbursed to your bank account within 2 to 4 hours, subject to bank processing times. In most cases, you can expect same-day fund transfer.
The loan tenure ranges from 7 days to 45 days. Repayment is aligned with your salary cycle. You can repay through UPI, net banking, auto-debit, or debit card. We send timely reminders before your due date so you never miss a payment.
Yes, you can prepay or foreclose your loan at any time during the loan tenure. AlphaSalary does not charge any prepayment penalty. Early repayment helps you save on interest costs and improves your creditworthiness for future borrowing.
Absolutely. AlphaSalary uses bank-grade encryption and follows strict data privacy policies in compliance with the IT Act. Your personal and financial information is never shared with third parties without your consent. We take data security extremely seriously.
If you miss a repayment, a bounce charge of ₹500 per instance is applicable along with overdue interest at 2% per month on the outstanding amount. Late payments may also affect your credit profile. We recommend contacting our support team before your due date if you anticipate any difficulty in repayment.
AlphaSalary facilitates short-term loans ranging from ₹5,000 to ₹1,00,000. The exact amount you qualify for depends on your income, repayment capacity, and our lending partner's assessment. You can use our online loan calculator to estimate your eligible amount and total repayment.
You can reach us by phone at +91-7011019117, by email at info@alphasalary.com, or through our contact form on the website. Our support team is available Monday to Saturday, 10 AM to 6 PM IST to assist you with any queries or concerns.