FREQUENTLY ASKED QUESTIONS

01. Frequently asked questions

Salarydost.com is a Fintech player supporting young professionals to come over their mid-month and month-end financial needs. We provide unsecured loans for up to Rs. 100,000/- with easy and affordable easy EMI options of 2 to 3 months through Salary Dost mobile application. We use your social data to fill up most of your application form and sanction your loan based on your social score. With your filling few details on our mobile application, we will sanction your loan within a few minutes. The loan is given by our partner Banks/NBFC's registered with RBI.
If you are a salaried Indian citizen, over 18 years of age with a minimum net take-home monthly salary of Rs. 12,000/-, you can get your loan sanctioned in minutes. It is as simple as cooking noodles! Download our app and get some money right away!
We are currently operational in Mumbai,Pune,Kolhapur,Ahmednagar,Aurangabad,Ahemdabad,Vadodra,Surat,Bangalore,Chennai,Delhi,Noida.
Login with your Facebook accounts in the Salary Dost app from your Android mobile phones. We need your social data to build your "Social Worth Score" which determines your eligibility for an Advance.
We are a fintech company and have partnership with NBFC's/Banks with fair practices and transparent pricing. We would appreciate if you could spare a few minutes to read our Terms and Conditions and to reach out to us should you require any assistance! Your data is our biggest secret. We will not let anyone steal it nor will we let anyone buy it! Documents required & their acceptable formats.
Your Social Worth score best reflects you when all your profile details are updated. Furthermore, since we assist you by auto populating all the possible fields from your social media data, a non- updated profile detail would require more efforts from your side and lower loan from our side. So it is recommended to update your LinkedIn and Facebook accounts before applying.

02. Documents required & their acceptable formats.

Uploading the photocopies of the documents in appropriate format can drive us to reach to more accurate judgement.
We need your salary bank account statements to validate your salary data and to assist you with repayment dates close to your salary date so that you may never have to default on your repayment. To make your life simpler, we have functionality which allow you to provide us the bank statement directly from the bank without looking for pdf statement received from the bank.
Simply login to your bank via our partner ( Our partner is providing better customer experience).
We strive to provide best service so that you do not need to look for details in your mailbox. We have tied up with a partner which help us in providing you a seamless experience. We or our partner do not save your bank ID and password.
Please make sure that your images are:
  • Complete
  • Adequately zoomed
  • Not blurry and
  • Taken with good lighting
Additionally, for bank statements are acceptable in pdf formats only which you receive from bank as monthly statement or which you can download from bank website.
Please make sure that your images are: We compress the files you upload so that you do not have to wait. If your uploads still take considerable time, please check your internet settings. If trouble still persists, get in touch with us. Pls send the bank statement via email on care@Salarydost.com. Alternatively, Just click to chat with us on our Website.
Bank statement: Bank statements can be uploaded in PDF format only. If your PDF bank statement is password protected, please share your password for us to open and read the bank statement and we will keep all your data safe and secure!
o KYC documents: Aadhar/PAN/passport/driving license/voters id proof can be uploaded in JPEG or PNG format. We recommend clicking the image using App camera as it help us in compressing better and upload.

03. Referrals and Promo Codes

Because friends care and share! Moreover we give special incentives for referring friends to both you and your friend. As an inaugural offer, you will get Rs 200 off on your loan with each referral and your friend also gets Rs 200 off on his/her first loan.
We show currently running promo code on loan calculator and in case you still have any doubt, pls e-mail us at Care@Salarydost.com or Chat with us from our Website.
We encourage you to ask your company to tie up with us to offer better offer to all employees of your company.
We do not deduct upfront any fee or interest from your loan disbursement amount. Isn't that good news to start with...? Use the sliders on our app to see the amount real time. If you still haven't downloaded the app yet, you can play with the sliders here.
  • 1) Processing Fees: Processing Fee for the Loan shall not exceed Loan Amount (Rs.)
Processing Fee >= 3000 500
3001 - 5000 600
5001 - 10,000 700
10,000+ 750
  • 2) Late payment charges In case of delay in payment of Amount Due, we will charge a late payment fee not exceeding 4% per month on the amount due.
  • 3) Charges for bouncing of the Repayment Instrument(s):In case of default by reason of the Repayment Instrument(s) being dishonoured, Salarydost.com will charge Rs. 650/- per month / per default towards its dishonour.
  • 4) Interest Rate Our general interest rate is 3% p.m. But we strongly recommend you to connect us with your company HR to negotiate better rates by tieing up with us. All charges/Fees are subject to GST and will be charged extra at the prevailing GST rate. Current GST rate is 18%.

04. Application Process, Cost & Timelines

You can borrow from Rs. 3,000/- to Rs. 100,000/- in multiples of Rs. 1,000.
The best option to prepay is to come on App and repay on or before Due date either through UPI or Net banking. It will provide you instant credit to your account and you pay interest ONLY till the date on which you repay. In case you do not pay us on or before due date, we will initiate debit instruction to collect funds. We don't accept cheque and cash.
Currently we allow only one loan at a time .
No, we do not allow top up loan as of now. You can prepay your existing loan without any additional cost and take new loan with full sanctioned amount.
We allow you to take as many loan as you want in a year. Further, as per our internal policy there should be a minimum gap of 5 days between the repayment date of your current loan and the application date of your next loan.
With your social logins, you will hardly have to key in 5 data points, upload few images - all of which should not take you over a few minutes. At your desired time we will come to your house/office to get your signature and we will transfer the money right away. If you need funds again in Future and want to take a loan from us, money would reach your account in not more than a few minutes. While applying the first time you will go through these 5 steps:
1)Quickly skim through the mostly prefilled app pages, key in the minimal data left, and upload your bank statements. Quickly rehearse your moves for the night or pack your bags for a hell of a trip. In not more than 10 minutes your loan would be sanctioned.
2)Once sanctioned, Upload KYC documents and selfie on our mobile app. In minutes we will e-mail you your loan agreement and will ask you to confirm a time and place to sign your loan agreement (RBI needs this!).
3)Once you confirm your availability, we will come running to you, within an hour or at the time you choose.
4)Once our officer reaches your house/office, he will check an original ID proof (one that you submitted) and will get your signatures on loan agreement.
5)Sit in your car and start your engine for one of the best moments of your life. We would have transferred the money to your bank account. The money would reach your account according to the time your bank takes!
6)Within few minutes of you signing the agreement, you can transfer the loan to your bank account using our mobile app. Within a minutes money is transferred to your bank account once you initiate the money transfer from our mobile app. 7)We recommend you to use eKYC service of Aadhaar available on App for faster completion of documentation to avail loan.

The whole process should not take more than a Business Days time to complete.
We will need to inspect the original ID to validate your identity and to ensure that fraudsters don't harm an innocent citizen.
Your loan will be transferred to your salary bank account registered with us. In case you change your salary bank account, pls share new salary bank account statement with at least one salary credit at care@salarydost.com and we would change the same.
Our first level underwriting is done on real time basis by machine hence you may get approval on holidays as well but money transfer can happen only after you complete KYC and loan agreement signing. In case machine is not able to read information or need more data to decide, someone need to look at your case to decide. However, if you have a loan sanctioned and documentation completed, you may be able to access it on Holidays too. Apply right away and get your loan sanctioned!

05. REPAYMENT PROCESS

You can anytime repay the loan thru our mobile app. Else on due date, we use e-NACH (National Automated Clearing House) to take repayment automatically. On the repayment date, we will debit your bank account registered with us. Just make sure that you have enough money in your bank account on that day.
Rejoice! There is no pre-payment fee at the moment. You can pre-pay your loan any time before the repayment date through net banking.
As there is no pre-payment charges, so you can pay anytime and the amount is the Total EMI amount you have to pay.
Sorry pal! As per RBI guidelines, you can't pay your dues using a Credit Card.
No you can't! You have to repay on due date only.
We suggest that you maintain enough money in bank account as we would send debit instruction to your bank on due date. In case NACH is bounced, we levy NACH/ECS charges for every bounce instance and you may also be levied with interest on delayed payment.
No, once a due date is chosen, we do not allow repayment in EMI.
Yes, our lending partners are RBI registered NBFC/Bank, they are obligated to report our Loan, its history, the late payment and non-payment of dues to credit bureaus such as CIBIL and Equifax. This will impact your chances of getting banking products. By paying on time, your score improves and so does your chances of getting a credit card or any loan!!!
You can also ping us to chat with us on the Website.
Write to our Complaints Management Cell, at Help@Salarydost.com and we will get resolve your query in not more than 3 business days. If you are still not satisfied with the action, you can write to our Grievance Redressal Officer at Complaints@Salarydost.com.
Please do quote your Customer ID in all your interactions with us.
Your repayment amount (including all interest and charges) would be deducted only from your salary bank account registered with us. In case you change your salary bank account, pls share new salary bank account statement with at least one salary credit at care@salarydost.com and we would change the same. You would need to sign new NACH mandate form and once it is registered, we would deduct money from new Salary bank account.